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• Northwest Multifamily News
6/13/07
BELLEVUE, WA (King County) – The Bascom Group, out of Irvine, purchased StoneCreek at Bellevue, a 206-unit apartment building at 14719 NE 37th Place. Built in 1978, the property consists of 84 one-bedroom / one-bath units and...
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• Arizona News
6/12/07
Frankel Family Trust, out of Anaheim, has purchased Broadstone at Desert Sky, a 288-unit apartment community situated on 18.38 acres at 7850 West McDowell in Phoenix, for $38.16 mil ($132.5k/unit). Constructed in 2006/2007, B...
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• SCI Nabs National Student Apartment Portfolio
6/11/07
A portfolio of five student apartment communities in three states totaling 1.32 msf was purchased by LA-based SCI Real Estate Investments, marking the company's first portfolio buy. SCI, which specializes in the acquisition ...
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• Bascom Closes $48 Mil Georgia Acquisition
6/08/07
The Bascom Group, the active Irvine-based apartment investor/owner, has closed on a sizable buy in Georgia, having paid $48 mil for the Dunwoody Club apartment community, a 532-unit ($90.2k/unit) complex at 7700 Colquitt Rd i...
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• SoCal Apartment Buyers Take It to the RE/MAX
6/07/07
The Whittier office of RE/MAX Commercial tends to be busy handling a lot of multifamily investment deals throughout SoCal. In this report we'll review a trio of recent sales they brokered in Upland, Cudahy and Whittier.
We'...
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• Regional Multifamily Briefs
6/05/07
We've got seven recent apartment property transactions to catch you up on from around CA as well as a couple in Arizona.
FRESNO (Fresno County) - Laurel Canyon Apartments, a 100-unit gated apartment community at 1337 N. 9th...
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• Vincal Puts $12.5 To Active Use in Retirement Hotel
6/04/07
It seems we're writing more and more about senior housing transactions, and here we have one for a senior hotel, as Vincal Senior Housing, LLC, a Newport Beach-based senior housing operator, has acquired the Burbank Gardens R...
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• Los Angeles Multifamily Briefs
6/01/07
LOS ANGELES, (Los Angeles County) – Brokers at Sperry Van Ness completed the sale of Park View Apartments, a 30-unit apartment community, to Sherman Oaks-based Trimax Properties for $1.84 million ($61.3k/unit). The property i...
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• Renovated Koreatown Apartment Property Fit for a Kingsley
5/31/07
An investor paid $4.8 mil for The Kingsley Apartments, a vintage multifamily project in the heart of LA's Koreatown. Located at 530 South Kingsley Dr, the five-story complex features 45 units ($106.7k/unit) situated on approx...
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• 50+ Housing Council Announces Call for Sage Award Entries
5/30/07
The 50+ Housing Council Board, a special interest council of the Building Industry Association of Southern California, announced earlier this month its call for entries to the 13th annual SAGE Awards. The program honors and r...
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• Investors Not Worried about Tornados in the Inland Empire
5/30/07
For those of you interested in the mobile home segment of the industry, here's a look at a couple of recent sales from the Inland Empire. The deals, which are for $1.6 mil and $5.2 mil, are from Moreno Valley and Indio.
We'l...
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• Multifamily Development News of the Month
5/29/07
With much fanfare and phrases expressing opulence and luxury, it was announced earlier this month by Africa Israel, Namco Capital Group and Houk Development Company that they are developing Park Fifth, a unique $1 billion res...
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• SOMA Site to Be Redeveloped into Mixed-Use Project
5/25/07
Avant Housing LLC, a $400 mil real estate venture between AGI Capital, TMG Partners and CalPERS, has made its first acquisition for a planned urban-infill mixed-use housing development by purchasing a 41.3k sf building at 260...
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• Property Management News
5/25/07
Western National Property Management has been awarded the management contract for a two-property, 459-unit SoCal portfolio owned by BH Properties. The properties are located in Huntington Beach and San Pedro.
One of the prop...
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• Santa Monica Buyer Becomes Prince of Tides
5/24/07
A private investor paid $21.8 mil for the “Tides Building,” a 36.5k sf ($597/sf), mixed-use project located at 331 Santa Monica Blvd, in the heart of downtown Santa Monica. Bob Safai of Madison Partners brokered the transacti...
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• NoCal Multifamily Sales Review
5/24/07
REDWOOD CITY (San Mateo County) – Leahy Square, a 110-unit apartment complex located off El Camino Real, a few blocks south of Woodside Rd, sold for $23 mil ($209.1k/unit). The three-story property was built in 1973 and conta...
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• Prana Prances on Historic Building in LA's Echo Park Area
5/24/07
Prana Investments has purchased the Jensen's Recreation Center building, a 49.8k sf historic cultural landmark located at 1700 West Sunset Blvd in LA's hip Echo Park neighborhood. The property, which traded for $8.4 mil ($169...
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• Northwest News
5/23/07
Beverly Hills-based Kennedy Wilson, led by William McMorrow, has purchased 5th and Madison, a “green”, 126-unit condominium building under construction in downtown Seattle's financial district. The acquisition, which closed o...
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• Bascom Closes LA Apartment Buy
5/23/07
The Bascom Group, an active investor throughout the west that we report about regularly, has recently closed on an LA multifamily buy, having paid $6.38 mil for Casa Sonora, a 133-unit ($48k/unit) apartment community located ...
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• Financing Notes
5/22/07
Cohen Financial has arranged $8.25 mil in debt financing to fund the refinancing and repositioning of the former Lake Merritt Hotel, located at 1800 Madison St, on the shores of Lake Merritt in Oakland. Renamed as Barbary Lan...
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