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• Dramatic Hollywood Building Acquired by Dramatic Academy
7/21/08
A historic Hollywood apartment building that was recently renovated was just acquired by the American Musical and Dramatic Academy (AMDA) to help house its growing student body. AMDA agreed to a 12-year, $13 mil lease for the...
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• HFF Recapitalizes Pair of Inland Empire Multifamily Properties
7/18/08
Two multifamily communities in the Inland Empire have been recapitalized in recent financings totaling $33.4 mil. The properties are the 172-unit Sunscape Apartment Homes in Alta Loma and the 180-unit Linden Court Townhomes i...
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• Apartment Buyer Joins Country Club Crowd in Oceanside
7/17/08
The Country Club Apartments, a 91-unit multifamily asset in Oceanside, was recently acquired by a private investor for $10.2 mil, or $112k/unit. The 76.6k sf property is located at 201 Country Club Lane, south of Mission Ave ...
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• New Lifestyle Development to Add 421 Res Units for USC Students and Staff
7/16/08
This summer, Urban Ventures begins construction on University Gateway, an ambitious, multi-faceted residential/retail development designed to meet the growing housing and lifestyle needs of USC students, professors, staff and...
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• NoCal Multifamily Activity Review
7/15/08
In this report we’ll update you on two recent closed apartment sales from Northern California, in San Carlos and Rocklin, along with a current listing from the NoCal city of Palo Alto. All three properties sold for or are lis...
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• 235-Unit Mercer Island Apartment Community Trades Hands
7/14/08
United Dominion Realty Inc (UDR) has acquired Island Square, a 235-unit multifamily complex located at 2758 78th Ave SE in Mercer Island, WA, for $112 mil, according to King County records. That works out to a hefty price tag...
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• 670-Unit Vegas Apartment Complex Sold by AIMCO
7/11/08
Situated just 10 minutes from the Las Vegas Strip, Canyon Pointe is located adjacent to the Nevada Palace Hotel and Casino and the newly developed Eastside Cannery Hotel and Casino. The site boasts views of Sunrise Mountain ...
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• Laramar Acquires 948-Unit Archstone San Jose
7/10/08
In what is one of the largest – if not the largest – Bay Area apartment acquisition in 2008, Chicago-based Laramar Group has purchased Archstone San Jose, a 948-unit, garden-style complex located at 355 Kiely Blvd in San Jose...
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• Hollywood Res Project Gets $27 Mil in Joint Venture Equity Funding
7/10/08
A planned multifamily development in Hollywood is closer to becoming a reality, as the project’s developer, JPI Inc, recently closed on $27.19 mil in joint venture equity funding. The Class A project -- Jefferson at Hollywood...
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• Kennedy Wilson Spends $117 Mil on Pair of Washington Apartment Properties
7/09/08
Kennedy Wilson Multifamily Management Group (KW Multifamily), a unit of Beverly Hills-based Kennedy Wilson, recently closed on two joint venture apartment acquisitions in the state of Washington with a combined price tag of $...
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• Oregon Multifamily Buyers and Sellers Order Up Full-Pounder of Representation
7/08/08
Here’s a chance to get a rough idea of what multifamily comps are going for in Oregon, as we have four recent sales to brief you about, all of which were handled by Grayson Pounder of Hendricks & Partners. Three of the transa...
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• Starpoint Flips LA-Area Apartment Property for $17 Mil
7/07/08
Beverly Hills-based Starpoint Properties has collected $17.3 mil from the sale of an 83-unit ($208k/unit) apartment complex in LA’s Koreatown area just two years after they acquired the property for $11 mil ($132.5k/unit). Th...
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• New Affordable Housing Project Opens in Fresno
7/03/08
A new affordable housing community is set to open to the public in Fresno. Called Sandstone, the 69-unit complex is a development of SoCal-based AMCAL Multi-Housing Inc and is located on 4.9 acres at 1515 E. Jensen Ave, just ...
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• HFF Arranges $39 Mil in Construction and Joint Venture Money for Sparks Multifamily Project
7/02/08
The Orange County office of Holliday Fenoglio Fowler L.P. (HFF) arranged a $29.5 mil construction loan and $9.5 mil in joint venture equity for the development of Pioneer Meadows, a 300-unit Class A multifamily development to...
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• Scottsdale Apartment Property Fetches $155k/Unit
7/01/08
A private investor from Regina, Saskatchewan paid $3.1 mil for Fountain Villas, a 20-unit ($155k/unit) apartment community in Scottsdale, AZ. The community, a failed condo conversion that was recently renovated, is located at...
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• CA Home Sales Up 18% from Prior Year
6/30/08
May home sales sale figures from the California Association of Realtors® (C.A.R.) show that CA sales increased 18.1 percent for the month compared with the same period a year ago, while the median price of an existing home fe...
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• Westside Multifamily Comps
6/27/08
A private investor paid $9.35 mil for The Hollywood Continental Apartments, a 56-unit ($167k/unit) multifamily property located at 7737 Hollywood Blvd, a couple of blocks east of Fairfax Ave in Hollywood. Morgan McMullin and ...
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• Monrovia Mixed-Use Project is Completed
6/26/08
Colorado Commons, a new mixed-use community in historic downtown Monrovia, has just been completed, providing what local politicos believe will be a spark plug in the revitalization of the city’s historic Old Town business di...
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• New Chino Res Project Includes 106 Affordable Units
6/25/08
Meadow Square, a new 250-unit apartment community located at 7750 Desert Holly St, near the intersection of Pine Ave and Euclid Ave in Chino, is now open and currently available for lease. Situated within The Preserve at Chin...
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• AMCAL’s Avenue 26 Wins Best in American Living – Silver Award for Affordable Housing
6/24/08
Agoura Hills-based AMCAL Multi-Housing Inc, was recently honored with the Best in American Living – Silver Award for Affordable Housing by Professional Builder Magazine and the National Association of Homebuilders (NAHB) for ...
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