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Related Closes $56 Mil Buy of Downtown LA Senior Housing Property 9/29/08 A 309-unit senior housing property in downtown Los Angeles was acquired by The Related Companies, out of New York, in a $56.5 mil ($183k/unit) transaction. The 268k sf property, located on a 37k sf lot at 740 S. Olive St, gen...
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Investors Sock Away Argyle Apartment Properties in Hollywood 9/25/08 In a multifamily sale in the Hollywood Hills, a 42-unit apartment property built in 1970 just a short distance under the Hollywood sign at 1937-1939 Argyle Ave, north of Franklin Ave on the northeast side of the 101 Fwy, sold...
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San Diego Apartment Sales Continue Slide in 2nd Quarter 2008 9/24/08 San Diego County saw the number of apartment sales continue to decline in the second quarter of 2008, registering a drop that was greater than the rate of decrease in sales prices, according to the latest data from Cushman & ...
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Vista Apartment Properties Fetch $20 Mil 9/23/08 Two 82-unit apartment properties in Vista, a city in north San Diego County, sold in deals worth a combined $20.25 mil. One of the properties is Las Terrazas, at 1440 Oak Dr, which sold for $9.75 mil ($118.9k/unit), while the...
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792-Bed Cal State Sacramento Housing Complex Sells for $36 Mil 9/19/08 Henderson Global Investors, in a venture with Lake Forest-based Valeo University Communities, closed on a large res buy in Sacramento, paying $36.35 mil for The Verge Apartments, a 792-bed ($45.9k/bed) complex that serves the...
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Multifamily Financing Briefs 9/18/08 George Smith Partners -- Andrew Levant and Gilda Rivera of George Smith Partners arranged $15.85 mil in construction financing for a ground-up, mixed-use apartment building in Ventura. The property sits on 1.4 acres of land w...
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C.A.R. survey of homebuyers points out interesting trends 9/17/08 Declining home prices coupled with low interest rates prompted more home buyers to purchase in 2008 compared with last year, according to the California Association of Realtors®’ (C.A.R.) “2008 Survey of California Home Buye...
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New Res Tower Promises a True Metropolitan Hollywood Lifestyle 9/16/08 A unique Hollywood residential tower that promises a new standard for urban living in the heart of the city is being marketed for lease. The 52-unit development, the Metropolitan Hollywood, is said to offer some of the city’s...
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Investor Acquires Biggest Little Apartment Complex in Reno 9/15/08 Bristle Pointe, a 224-unit multi-family community in Reno, was acquired by a local private investor for $23 mil ($102.7k/unit). The property is situated on 11.2 acres at 2050 Longley Lane, east of Hwy 395 and south of I-80.
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LA Apartment Comps 9/12/08 Here’s a chance to catch up on apartment sales comps in Los Angeles, as we’ve got nine recent deals to report, listed below:
• A six-unit building at 3725 Midvale Ave, east of the 405 Fwy and north of Venice Blvd, sold for $...
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Hayward Apartment Property Sells for $7.1 Mil 9/11/08 Dorchester House, a 68-unit apartment community in Hayward, was recently acquired for $7.1 mil ($104.4k/unit) by a division of Thompson/Dorfman Partners LLC, out of Mill Valley. Originally constructed in 1962, Dorchester Hous...
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Trio of WA Apartment Sales Total Up to $6 Mil 9/10/08 For those of you who profit from keeping up with multifamily sales comps from the state of Washington, we’ve got three recent transactions to report. Ranging in price from $1.5 mil to $2.4 mil, the deals are from Seattle, Spo...
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CT Realty Acquires $33.5 Mil Res Loan Portfolio in Western US 9/09/08 Newport Beach-based CT Realty Corp has acquired a $33.5 mil residential loan portfolio from a major investment banking firm in a joint venture with Fasthold Capital, a distressed debt acquisition company based in the city of ...
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OC Multifamily Market in Slowdown Phase 9/09/08 Hendricks & Company, one of the leading multifamily investment brokerage firms in the country, forwarded us their Second Quarter 2008 Hendricks & Partners Apartment Update for the Southern California region. We’ve reprinted t...
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Puget Sound Apartment Property Sells for $43 Mil 9/05/08 In the latest high-profile Puget Sound multifamily sale, Heitman Capital Management acquired the 352-unit Covington Farms apartment complex for $42.78 mil ($121.5k/unit). The property is at 10115 Holly Dr, west of I-5 and Eve...
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Cardiff-By-The-Sea Apartment Property Sells for $71 Mil 9/03/08 In what is reportedly the largest multifamily sale in San Diego County so far this year, Property West has purchased the 300-unit Cardiff by the Sea Apartment Homes complex for $71 mil ($236.7k sf). The property is located at...
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CA Home Sales Jump 43% While Median Price Down 40% 8/28/08 July saw a 43.4% jump in California home sales compared to the same period a year ago, an increase that is due in great part to buyers taking advantage of foreclosures and other troubled properties being traded at a substanti...
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San Diego-Area Apartment Property Sells for $13.7 Mil 8/27/08 A Long Beach investor paid $13.7 mil for a 112-unit San Diego-area apartment community in a transaction that worked out to $122.3k/unit. The property, Arbor Village, is located at 4900 Logan Ave, south of the 94 Fwy and east ...
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Investors Pay $25.5 Mil for San Diego Apartment Community 8/26/08 While San Diego-area condo converters have pretty much fallen off the face of the earth, there are still many buyers that see multifamily properties in the region as an attractive investment opportunity. Case in point -- Coll...
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WLA Investments Entity Sails into Snug Harbor 8/25/08 Snug Harbor, a 64-unit condo-mapped multi-family complex located at 2780 East Flamingo Rd in Las Vegas, was purchased by Snug Harbor Condominiums Las Vegas LP, with WLA Investments as managing partner. The property, which in...
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