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Turbulent Year Winds Down for CA Home Market 12/22/08 Rising home sales, declining home prices, stricter loan underwriting standards, and the financial market meltdown contributed to a turbulent year in California’s housing market, according to the California Association of Real...
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$18 Mil Sale Includes Majority of Units at Chula Vista Condo Project 12/19/08 In a rather unusual sale in Chula Vista, an investor picked up the majority, but not all, of the units at Terra Vista at Otay Ranch, a 168-unit condo complex located at 1441 Santa Lucia Rd, south of Otay Lakes Rd and east of ...
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Johnson Capital Arranges $16 Mil Refi on Gresham, OR Apartment Complex 12/18/08 In a recent Portland-area apartment financing transaction, Jim Pierson and Keaton Merrell of Johnson Capital arranged $16 mil in long-term, fixed-rate financing for the refi and partner buyout of Heatherwood Apartments, a 264...
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246-Unit Tucson Apartment Property Trades in $18 Mil Deal 12/18/08 Skyline Gateway, a 246-unit apartment community in Tucson, traded hands in a recent $18.4 mil ($74.8k/unit) transaction. The property is located at 4601 East Skyline Dr, west of Swan Rd and north of Sunrise Dr.
Constructed i...
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NorthMarq Arranges $50 Mil in 1st TD Money on 390-Unit Sunnyvale Asset 12/17/08 Looking for financing for NoCal multifamily acquisitions? You might want to check out these three recent deals to get a sense for what kinds of transactions are getting funded. We’ll start in Sunnyvale, where NorthMarq Capita...
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Investor Spends $2.8 Mil on Redwood City Apartment Property 12/16/08 A 24-unit apartment property in Redwood City sold in a recent $2.82 mil ($117.5k/unit) transaction. The property, located at 701 9th Ave, between El Camino Real and the 101 Fwy, is comprised of eight two-bedroom/one-bath unit...
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SD 3rd Qtr Apartment Transactions Up; Units Sold Down 12/15/08 The number of San Diego County apartment sales transactions in the third quarter of 2008 was up 27.6 percent over the same quarter in 2007, according to a just released Cushman & Wakefield report. This was the first year-over...
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Fremont Apartment Property Sells for $21.5 Mil 12/12/08 A 151-unit multifamily property in Fremont was acquired by a Santa Clara investment entity for $21.55 mil, or roughly $142.7k/unit. The property, Carrington Apartments, is located at 4875 Mowry Ave, east of the I-880. Origina...
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San Gabriel Valley Apartment Property Sells in $15 Mil Transaction 12/11/08 The San Gabriel Valley recently saw a notable apartment sale, as the Atrium at West Covina, a 138-unit community in the city of West Covina, traded hands in a $15 mil transaction, valuing the property at roughly $109k/unit. S...
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Marcus & Millichap Marketing Two $20 Mil LA-Area Investments 12/10/08 Looking for that perfect Christmas gift for someone special? How about a nice SoCal commercial property? Here’s the scoop on two LA-area investment opportunities, both listed with Marcus & Millichap and priced near $20 mil.
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Hollywood & Vine Gets a New Star 12/09/08 A number of local dignitaries, including Los Angeles Mayor Antonio Villaraigosa and Councilman Eric Garcetti, were on hand the other day for the topping out ceremony at 1600 Vine, a new 375-unit multifamily development at the...
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Symphony Towers Sales Event Was Music to Buyers’ Ears 12/08/08 A recent weekend sales event in San Francisco proves that when it comes to moving residential properties in this slower market, price remains king. The Nov 14-16 sales event was for Symphony Towers, a new high-rise condo proj...
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Roosevelt Inaugurated Again 12/05/08 By Allen Wolfsheimer
An exciting residential project in downtown LA, reported to be one of the region’s most costly adaptive reuse projects to-date, officially opened its doors the other day. The Roosevelt, which was origina...
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Reno Apartment Complex Fetches $56 Mil 12/04/08 Montebello at Summit Ridge, a 450-unit luxury apartment community in Reno, Nevada, traded hands in a recent $56 mil transaction that valued the property at about $124k per unit. The property is located at 5200 Summit Ridge Dr...
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Monrovia Mixed-Use Development Gets Underway 12/03/08 Urban Housing Group has begun construction on The Courtyards at Old Town, a mixed-use urban community located in the heart of Monrovia’s Old Town district. The project, designed by KTGY GROUP and built in collaboration with t...
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Don’t Overlook The Cliffs 12/03/08 Investors looking for a unique San Diego-area residential opportunity might want to check out The Cliffs, a 262-site manufactured home community for seniors which was recently listed for sale with an asking price of $35 mil (...
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CA Existing Home Prices in Oct Drop 40% 12/02/08 Home sales increased 117.1 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 39.9 percent, according to the latest numbers from the California Associati...
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Bascom Nabs $32 Mil Colorado Apartment Property 12/01/08 Saddle Ridge Village Apartments, a 320-unit Class A property in the exclusive Saddle Rock subdivision of Aurora, CO, recently traded hands in a $32.25 mil transaction, which valued the asset at $100.8k/unit. The property, sit...
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Townsite Makes a Good Multifamily Investment Site 11/26/08 Townsite Apartments, a fully occupied, 34-unit, 28.2k sf apartment building located at 131 Townsite Dr, north of the Hwy 78 and just east of Santa Fe Ave in Vista, was sold in a $3.6 mil ($105.9k/unit) deal. The property, wh...
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New Multifamily Project Adds 52 Affordable Units in Downtown LA 11/25/08 Temple Villas, a new 52-unit affordable housing development in downtown Los Angeles’ Beaudry/Echo Park area, just opened to the public. Located at 1417-1429 W. Temple St, the project is a development of AMCAL Multi-Housing in...
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