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• High Barriers to Homeownership is Boosting Demand for High-End Apartments
8/21/23
This report provided by Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA), a division of Marcus & Millichap, has released its Class A Multifamily Outlook Midyear 2023 special report. The firm shared...
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• Community Preservation Partners Buys 44-Unit Affordable Housing Project in Palm Springs
8/18/23
CPP (Community Preservation Partners) acquired Sunnyview Villa, a 44-unit affordable housing property in Palm Springs. The community, located at 2950 N. Indian Canyon Rd in North Palm Springs near the historic Racquet Club We...
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• Work Wrapped Up on 296-Unit Res Project Near Downtown LA and USC
8/18/23
Cityview has completed work on Jasper, a 296-unit opportunity zone mixed-use project located less than two miles from downtown Los Angeles and adjacent to the University of Southern California. The highly amenitized, mixed-us...
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• MIG Real Estate Closes $61 Mil Res Buy in Orange County
8/17/23
In a notable OC multifamily buy, MIG Real Estate LLC purchased Newport Palms, a 138-unit apartment complex in Costa Mesa, for $61.1 mil ($443k/unit). According to MIG, this is the largest multifamily investment in the city in...
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• OC Four-Plex Goes for Nearly $400k/Unit
8/11/23
A four-unit multifamily property in Orange County sold for $1.59 mil ($397.5k/unit), in a deal that came in at 99% of the list price and $462 per square foot. The single-story property is located on a spacious 10.8k sf parcel...
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• National City Apartment Property Sells for $3.84 Mil
8/09/23
In a recent apartment sales comp out of San Diego County, a 16-unit multifamily property in National City sold for $3.836 mil, or $240k/unit. The property, located at 1019-1049 E Ave, consists of all one-bedroom/one-bath, 343...
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• KB Homes Buys former Starlite Drive-In in El Monte for $24 Mil
8/09/23
A 13.5-acre parcel of commercial land in the San Gabriel Valley city of El Monte sold for $24 mil. The buyer, Los Angeles-based KB Homes, a Fortune 500 national home builder, will use the property to construct up to 200 new h...
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• Local Investor Buys Eight-Unit Multifamily Property in Long Beach
8/08/23
A local private investor paid $2.65 mil for an eight-unit ($331k/unit) multifamily property located at 1206 Gladys Ave in Long Beach.
Built in 1986, 1206 Gladys Avenue features all two-bedroom, two-bathroom units with two h...
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• Costa Mesa Mixed-Use Investment Trades for $3.2 Mil
8/08/23
A 7.5k sf, mixed-use property in Costa Mesa traded hands in a $3.2 mil transaction. The property, comprising 12 residential apartment units and a street-front retail building, sold for $425 per square foot and $246.2k per uni...
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• Trion Properties Wraps Up $41 Mil CO Res Buy
8/04/23
Trion Properties has acquired Trailpoint on Highline, a 198-unit multifamily asset in Aurora, CO, for $41.1 mil ($209k/unit). According to Trion, their all-in basis is only $231k per unit, compared to the submarket average i...
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• Colorado Multifamily Comp Comes in at $100k/Unit
8/04/23
In a recent multifamily sales comp out of Colorado, Belmont Heights Apartments, a 36-unit multifamily community located in Pueblo, sold for $3.6 mil ($100k/unit). The City of Pueblo is approximately 45 miles south of Colorado...
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• CVG Properties Buys Build-to-Rent Community in Phoenix for $27 Mil
8/04/23
CVG Properties purchased Proximity Baseline, an 80-unit build-to-rent (BTR) property in Phoenix, for $27.2 mil in an off-market deal. The community, located at 1700 East Baseline Rd, was sold by Avenue North.
The detached an...
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• Investor Pays $252k/Unit for Fontana Apartment Building
8/02/23
A 25-unit multifamily community in Fontana sold for $6.3 mil, or $252k/unit.
Built in 1973, the property is located at 8919 Mango Ave. It offers a mix of one-bedroom, two-bedroom (townhouse-style), and three-bedroom floorpla...
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• Long Beach Multifamily Property Goes for $398k/Unit
8/02/23
Park Villa Apartment Homes, an 18-unit multifamily property located at 1761 Park Avenue in Long Beach, was purchased by an LA-based private investor for $7.165 mil ($398k/unit).
Built in 1963, the property includes four thre...
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• BWE Originates Freddie Mac Affordable Housing Financing on Five CA Properties
8/01/23
BWE closed five Freddie Mac Targeted Affordable Housing loans to refinance four affordable housing developments in El Dorado County, CA, and one in Sonoma County, CA. BWE’s Jon Killough and John Roberts originated the loans o...
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• InTrust Property Group Locks Up $16.6 Mil Refi on Phoenix Res Property
7/31/23
InTrust Property Group has obtained $16.575 mil in financing for Sunset Sound Apartments, a 237-unit, garden-style apartment complex in Phoenix. The property is located at 2307 – 2323 East Van Buren St, just east of I-10.
Bu...
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• Newly Built AZ Res Community Refinanced with $53 Mil Loan
7/26/23
P.B. Bell has landed a $53 mil refi loan for Hangar at Thunderbird, a newly built 266-unit, 19-building apartment community in Glendale, AZ. The new financing was provided by PCCP LLC.
Hangar at Thunderbird is located at 153...
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• Rosemead Development Site Sells for Over $8 Mil
7/26/23
A local investor paid $8.15 mil for a 2.06-acre, mixed-use residential/commercial development site in Rosemead.
The property, located at 9637 Valley Blvd, consists of 12 contiguous parcels situated along Valley Blvd, with Lo...
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• KB Homes Acquires 13.5-Acre Parcel in the San Gabriel Valley
7/25/23
A 13.5-acre parcel of commercial land in the San Gabriel Valley city of El Monte traded for $24 mil. The buyer, Los Angeles-based KB Homes, a Fortune 500 national home builder, will use the property to construct up to 200 new...
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• Advanced Building Solutions Spends $19 Mil on 18-Acre Development Site in Rocklin
7/21/23
Advanced Building Solutions (ABS) has acquired an 18.2-acre residential development site in Rocklin in a $19 mil transaction. The land is fully entitled for a 397-unit, garden-style multifamily development, pricing the land b...
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