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• Job Growth Expected to Help Seattle Multifamily Market Maintain Housing Demand
6/23/08
Hendricks & Partners, one of the leading multifamily investment brokerage firms in the nation, has put together a 2008/2009 forecast for the Seattle/Tacoma MSA multifamily market. We’ve reprinted the forecast below:
With rou...
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• AMCAL Breaks Ground on East Oakland Affordable Housing Project
6/20/08
Brookfield Place, a new multifamily property in East Oakland that is hoped to serve as a catalyst for change in the community, just got underway at a groundbreaking event that was attended by elected officials, local dignitar...
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• Scottsdale Apartment Communities Fetches $22 Mil
6/18/08
McCormick Place North and McCormick Place South, two adjoining multifamily communities totaling 230 units in Scottsdale, AZ, were acquired by a local investment entity for $21.85 mil ($95k/unit). The properties, one with 112 ...
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• San Diego-Area Apartment Portfolio Sells for $31.5 Mil
6/17/08
A three-property, 211-unit portfolio of San Diego-area apartment communities recently traded hands in a $31.46 mil transaction with an average price of $149k/unit. The assets were purchased by Klingbeil Capital Management, a ...
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• Rancho Cucamonga Apartment Community Sells for $44 Mil
6/16/08
Archstone Woodsong, a 262-unit apartment community in Rancho Cucamonga, was purchased by a Phoenix, AZ-based investment entity for $44 mil, or $167.9k/unit. The property is located at 8255 Vineyard Ave, west of I-15 at the co...
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• Pacific Realty Advisors Snags El Cajon Multifamily Redevelopment Asset
6/13/08
San Diego-based Pacific Realty Advisors is about to get to work on another major project in the region, after having paid $5.8 mil for Pacific Mollison, a seven-building, 68-unit ($85.3k/unit) apartment complex located at 520...
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• Calypso Opening is Music to Upscale Irvine Renters’ Ears
6/12/08
A new and exciting residential development in the heart of Irvine, Calypso Apartments and Lofts, just opened its doors. The 177-unit urban boutique rental community, developed by Shea Properties and located at the intersectio...
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• San Jose Apartment Market Expected to Weather Economic Downturn
6/11/08
A shortage of affordable housing and measured job growth is expected to underpin steady renter demand for apartment properties in San Jose this year, according to a first-quarter Apartment Research Report by Marcus & Millicha...
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• Champion Out-Foxes the Competition for Historic Building Renovation Award
6/10/08
Champion Real Estate Group, the LA-based development firm led by Robert Champion, has received the 2008 People In Preservation Award from Save Our Heritage Organisation (SOHO) for Best Renovation of an Historic Commercial Bui...
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• Bay Area Apartment Sales Comp Review
6/09/08
Here are three smaller Bay Area Apartment sales comps to give you a better idea of the kinds of deals currently getting done in the region. These recent transactions are from the cities of Belmont, Santa Clara and San Francis...
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• Optimistic Outlook for Inland Empire Apartment Market
6/06/08
Although apartment properties in the Inland Empire will likely experience a slowing in renter demand this year, the metro’s extended outlook remains fairly optimistic, according to Marcus & Millichap’s first-quarter Apartment...
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• San Francisco Apartment Rents to Approach $2k/Mo by Year-End
6/05/08
Apartment fundamentals are expected to remain relatively strong in San Francisco this year, buoyed by low housing affordability, but the pace of economic growth will slow and rent gains will ease, according to a first-quarter...
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• FSC Spends $28 Mil on Saddlebrook Apartments in WA
6/04/08
In a notable multifamily sale from Des Moines, WA, a town situated 15 miles directly south of Seattle, the 223-unit Saddlebrook Apartments complex was acquired by a Beverly Hills-based investment group for $28.3 mil ($126.9k/...
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• Multifamily Investors Park Their Money in Assets Near San Diego’s Balboa Park
6/03/08
Montecito Point, a 72-unit apartment complex located at 4179 3rd Ave in San Diego, was purchased by a San Mateo buyer for $17.5 mil ($243k/unit). Built in 1987, the property is situated north of Washington St and west of the...
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• San Diego Renters Very Satisfied with H.G. Fenton
6/02/08
For the sixth consecutive year, H.G. Fenton Company has been awarded top national honors based on resident satisfaction for its 11 San Diego County apartment communities, combining 2,800 apartment homes in total.
SatisFacts ...
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• The Chapman Redeveloped into Upscale Rental Project
5/30/08
The adaptive reuse project encompassed a broad range of interior, exterior and environmental considerations, added Wade Killefer, Principal at Killefer Flammang. “Of special interest to residents are the roof-top amenities, w...
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• New Affordable Housing Project Completed in San Diego’s Barrio Logan Area
5/29/08
A new affordable housing project in downtown San Diego is set to open to the public on June 5 at a Grand Opening and Dedication ceremony that will include San Diego Mayor Jerry Sanders and City Councilmember Ben Hueso along w...
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• $38 Mil Apartment Buy Puget Sounds Good to UDR
5/28/08
In a big Puget Sound apartment buy, UDR Inc acquired the 220-unit Hearthstone at Merrill Creek complex for $38 mil, or $172.7k per unit. The community is located at 1901 Merrill Creek Pkwy, west of I-5 and north of Hwy 526 in...
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• New 229-Unit Res Project in Downtown San Diego is Affirmed
5/27/08
Affirmed Housing has purchased a 20k sf property located at 1050 B St in downtown San Diego for the development of a new res project to be called Ten Fifty B. The seller, The Smiedt Children’s Trust and the Josephson Children...
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• CA Home Sales Perk Up as Prices Continue to Fall
5/27/08
The good news for the CA housing market is that sales increased 2.5 percent in April compared with the same period a year ago, while the bad news is that the median price of an existing home fell 32 percent from the prior yea...
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