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• Adobe Communities Acquires Vacant Pasadena Apartment Building for Senior Housing
3/23/09
Abode Communities has acquired a 33.7k sf apartment building located on 42.8k sf of land at 1267 North Hudson Ave, a block west of Lake Ave in Pasadena, for $4.5 mil. The non-profit developer, also known as Hudson Oaks Limit...
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• SoCal Sees Drop in Notices of Defaults and Trustee Sales While NoCal on the Rise
3/20/09
By Allen Wolfsheimer
Notice of Defaults and Notice of Trustee Sales recorded in Southern California dropped 3.54 percent from February 2008 to February 2009, however, in Northern California the number spiked upward, increasi...
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• San Diego Apartment Tenants Can Count on SatisFacts-tion from H.G. Fenton
3/19/09
For the seventh year in a row, H.G. Fenton Company has been recognized for its commitment to resident satisfaction at its San Diego County apartment homes. The company received top national honors from SatisFacts LLC, a resid...
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• 30-Unit Fremont Apartment Fetches Nearly $5 Mil
3/18/09
A 30-unit luxury apartment complex in Fremont was acquired for $4.8 mil ($160k/unit). The property is located at 35955 Fremont Blvd, east of I-880 in the East Bay city of Fremont. Michael Henshaw of CB Richard Ellis and Micha...
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• Lose Your Job, Get Out of Your Apartment Lease
3/17/09
Western National Property Management has introduced a novel new benefit they are now offering to renters. Called the Layoff Protection Program, it will allow residents who have lost their job to cancel their rental contracts ...
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• Marcus & Millichap Handles Trio of SoCal Apartment Sales
3/13/09
In Artesia, a 29-unit multifamily property called East Park Apartments sold for $3.8 mil ($131k/unit). Located at 11562 186th St, near the Cerritos Mall in southeastern LA County, the property was marketed as a value-add oppo...
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• San Diego-Based Trigild Closes Four Receivership Assignments
3/05/09
San Diego-based Trigild has closed the receivership estates for four condominium complexes, including two properties in Northern Florida, one in Michigan and another in Arizona. The company's receivership team, which include...
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• January CA Home Sales Double, While Prices Continue to Fall
3/03/09
There continues to be a significant dichotomy in California’s housing market, as sales jumped a dramatic 100.8 percent in January compared with the same period one year earlier, yet the median price of an existing home fell a...
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• Investors Go For Those 14-Unit Valley Apartment Properties
2/27/09
We have the recent sales of separate 14-unit multifamily properties in the San Fernando Valley to report. In one transaction, a Sherman Oaks apartment complex traded at a price of $2.8 mil, or about $196.4k/unit. The two-buil...
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• East Bay Multifamily Comps
2/26/09
Looking for East Bay apartment comps? We’ve got five recent deals to share with you, all of which were brokered, at least in part, by regional brokerage firm NAI BT Commercial. We’ll start in Oakland, where investors paid $1....
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• Local Firm Looking to Pick Up Lion’s Share of LA’s Distressed Multifamily Properties
2/25/09
Lion Real Estate Group (LREG) just closed an all-cash acquisition of two loans on a 26-unit multi-family property at 920 N. Wilcox in Hollywood. In the off-market deal, Lion paid $4.02 mil for both the senior and junior loa...
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• New LA Affordable Housing Project Set to Open
2/20/09
Villas del Lago, a new 74-unit affordable apartment development in the Westlake/MacArthur Park district of Los Angeles is set to open later this month. The project, located at 456-478 S. Lake St, is a development of AMCAL Mul...
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• CA Entry-Level Home Affordability Jumps to 59%
2/19/09
The percentage of households that could afford to buy an entry-level home in California stood at 59 percent in the fourth quarter of 2008, compared with 33 percent for the same period a year ago, according to the latest data ...
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• Apartment Building Near UCLA Sells for $409k/Unit
2/18/09
An eight-unit multifamily property near UCLA recently traded hands in a deal worth over $409k per unit. The property, Brockton Apartments, is located at 1251 Brockton Ave, east of Bundy Dr and a few doors south of Wilshire Bl...
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• Astani Hopes First Concerto is a Sell-Out
2/17/09
Construction on the first phase of Concerto, Astani Enterprise’s three-building, $224 mil mixed-use condo project in downtown LA, is underway. This phase will contain 348 units, split between a 30-story tower and a smaller se...
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• The Realfacts About the Apartment Market Show Rent Declines in Nearly Ever MSA
2/13/09
Renters looking for an apartment at the beginning of 2009 will have more choices and should be able to get a better value for their rent money. That’s the general opinion from a fourth quarter 2008 study of nationwide rents j...
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• Unique Santa Monica Res Project Filling Up Fast
2/12/09
An unusual new residential project in Santa Monica has provided students, retirees and other individuals with a limited income an opportunity to rent a new living space in this pricey Westside community. The project, a develo...
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• Valley Apartment Property Sells for $5.2 Mil
2/11/09
A 53-unit apartment complex in Valley Glen, an area in the eastern part of the San Fernando Valley that was previously considered to be Van Nuys, sold for $5.2 mil, or about $98.1k/unit. The property is located at 6125 Fulton...
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• Investors Close Out 2008 with Pac Northwest Multifamily Buys
2/09/09
For those of you who like to keep up on multifamily investment transactions from the Pacific Northwest part of the country, here are comps on three year-end 2008 deals from Washington and Oregon.
We’ll start in Klamath Falls...
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• Two San Diego Area Apartment Properties Each Sell for $4.5 Mil
2/03/09
A 14-unit Carlsbad apartment property traded hands in a recent $4.5 mil ($321.4k/unit) transaction. The property, Pirineos Pointe Luxury Townhomes, is located at 2610-2622 Pirineos Way, north of La Costa Ave and east of El Ca...
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