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CA Housing Silver Lining: First-Time Buyer Affordability Up to 44% 5/22/08 The percentage of households that could afford to buy an entry-level home in California stood at 44 percent in the first quarter of 2008, compared with 26 percent for the same period a year ago, according to a report released...
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New Mixed-Use Project to Energize Revitalization of Downtown Emeryville 5/20/08 The recent completion of an exciting, transit-oriented mixed-use project is the latest step in Emeryville’s ongoing efforts in revitalizing its downtown area. Called Avenue 64, the development was designed by MVE & Partners f...
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Mission Valley to Be Awash in 254 New Res Units Thanks to Aquatera 5/19/08 Aquatera, a new urban community in Mission Valley, will be completed in early 2009, bringing 254 new apartment homes to the area. The project is a development of H. G. Fenton Development Company, which will then have 12 commu...
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Kennedy Wilson Takes Chadwick Name to New Heights 5/16/08 As part of an extensive $14 mil renovation program for its City Heights apartment property in LA’s Koreatown area, Kennedy Wilson Multifamily Group (KWMF) has changed the property name to The Chadwick. KWMF acquired the asset...
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Upscale Miracle Mile Res Project Ready to Open 5/15/08 A new, upscale residential development is slated to open in LA’s Miracle Mile area. Called Viridian, the project is located at 5659 West 8th St, at the corner with Hauser, and contains a total of 60 units that average almost ...
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Barak and Weller Hope to Get Lion’s Share of SoCal Value-Add Multifamily Opportunities 5/14/08 Two Los Angeles real estate veterans, Mory Barak, formerly of Buchanan Street Partners, and Jeff Weller, formerly with CB Richard Ellis, have formed Lion Real Estate Group LLC, a privately held real estate investment firm foc...
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Holliday Fenoglio Fowler Arranges $24.7 Mil for Phoenix Multifamily Project 5/13/08 West Town Court, a planned 274-unit multifamily development in Phoenix, is expected to get underway after receiving $24.7 mil in construction money in a financing deal arranged by Holliday Fenoglio Fowler. Estimated for compl...
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San Diego Apartment Market Remains in Slowdown Mode 5/12/08 The latest data shows a continuing slowdown in San Diego apartment property sales, with 93 transactions totaling 1,459 units during the first quarter of 2008. According to figures from Cushman & Wakefield, the most recent qua...
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New Multifamily Development Livens Up Westwood Village 5/09/08 A new upscale multifamily development is bringing new life to Westwood Village and is expected to spark additional interest in this desirable mixed-use area in West LA, situated adjacent to the UCLA campus. The project, Palaz...
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Riverside Ranked as a Leading City for Job Growth 5/09/08 Businesses pondering relocation and developers looking for opportunities should give some consideration to the City of Riverside, which continues to top national economists’ lists for job and employment growth, due to its div...
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AMCAL Opens Brawley Affordable Housing Project 5/08/08 A new 72-unit affordable apartment development just opened to the public in Brawley, a smallish town of roughly 22,000 people situated north of El Centro and I-8, in the southeastern corner of California. The project, Valle d...
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Village People Recognized for Irvine Spectrum Apartment Project 5/07/08 The 31.5-acre master-planned Village at Irvine Spectrum, developed by The Irvine Company Apartment Communities (IAC) and designed by MVE & Partners, was awarded a prestigious Pillars of the Industry Award at The National Asso...
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San Francisco Apartment Complex Achieves Price Tag of Almost $600k/Unit 5/06/08 A 193-unit upscale apartment community in San Francisco’s Mission Bay area traded hands in a $115 mil transaction that works out to a price of $596k/unit. The property, the Edgewater Luxury Apartments, is located on a 157.1k ...
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Investor Pays $68.5 Mil for Conejo Valley Multifamily Property 5/05/08 Well-located multifamily assets remain a strong draw for investors, particularly those who aren’t at the mercy of today’s challenging lending environment. In a recent example of a large apartment buy, IMT REIT Capital LLC acq...
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Colorado Multifamily Sales Review 5/02/08 Interested in multifamily sales comps from Colorado? We’ve got three recent transactions in the $2 mil - $3 mil range to let you know about.
In the largest of the three deals, the 41-unit Lampliter apartment community sold f...
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San Fernando Mixed-Use Project May Be Re-Configured for Affordable Senior Housing 5/01/08 Gangi Development was given a nine-month extension of an exclusive negotiating agreement with the City of San Fernando to finalize the components of a mixed-use project for a city-owned parking lot at San Fernando Mission Blv...
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LA-Area Apartment Comp Review 4/30/08 Here’s an update on three smaller apartment sales comp from around the LA area. We’ll start in the west San Fernando Valley community of Canoga Park, where an investor paid $2.85 mil for a 19-unit ($150k/unit) building at 703...
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Slide in CA Home Sales and Median Price Continues 4/29/08 For those of you hoping for news of a turnaround in California’s residential market, you may not want to read on, although it’s not likely that this news will come as a surprise to anyone who hasn’t had their head buried in t...
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SoCal Multifamily Sales Comps 4/28/08 ANAHEIM (Orange County) – The Belage Manor Apartments, a 180-unit complex located at 1660 W. Broadway, was purchased by a venture of Preservation Partners Development and Jamboree Housing Corp for $24 mil, or $137.8k/unit. Th...
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Marcus & Millichap Arranges $23 Mil Financing for Buena Park Multifamily Buy 4/25/08 Financing of $23.4 mil for Calera Investment Group’s purchase of the 184-unit Brookstone Apartments in Buena Park was arranged by Marcus & Millichap Capital Corporation (MMCC) and provided by Mesa West Capital. It includes mo...
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