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• San Bernardino Apartment Complex Sells for $26.5 Mil
2/26/08
A 197-unit apartment community in San Bernardino sold for $26.5 mil, or $134.5k/unit, in a recent transaction. The 164.8k sf asset, called Mountainside Village Apartments, is located at 1660 Kendall Dr, east of I-215 at Unive...
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• February 25, 2008 – Akron, OH Firm Spends $30 Mil on Denver Apartment Complex
2/25/08
The Estates at Mira Vista, a 240-unit apartment community in Denver, CO, was acquired by an Akron, OH-based company for $30.15 mil, or about $125.6k/unit. The complex, which is located at 10000 East Alameda Ave, is comprised ...
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• Western National Rings Up $200 Mil of Commitments for Latest Fund
2/22/08
Western National Properties has held the Initial Close of Western National Realty Fund II, L.P. ("Fund II"), the firm's second private equity fund, with over $200 mil of equity commitments. The company, an entity of Irvine-ba...
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• LA Buyer Closes $25 Mil Palermo Apartment Buy
2/21/08
The Palermo Apartments, a 130-unit multi-family community in the South Bay city of Torrance, was acquired by RCMI in a $25.1 mil transaction ($193.1k/unit). Located at 4315 West 182nd St, the 91.1k sf apartment community cons...
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• Sacramento Apartment Property Fetches $74k/Unit
2/20/08
In this report, we’ll cover two recent NoCal apartment comps on properties located in two inland CA towns. One of the transactions was in the state capitol of Sacramento, while the other deal was in Stockton, located about 50...
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• HFF Locks Up $28 Mil for Phoenix Multifamily Development
2/19/08
The San Diego office of Holliday Fenoglio Fowler (HFF) secured a $27.75 mil construction-perm loan for Central & Bell, a 228-unit multifamily development in North Phoenix, AZ. The project is situated on a nearly 10-acre site ...
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• Buyer not Bluffing in $478k/Unit Purchase of Newport Beach Complex
2/15/08
An 18-unit apartment community in Newport Beach recently traded in a transaction reported to be one of the highest-priced sales ever in Orange County for an asset of its size. The property, the Eastbluff Townhomes, sold for $...
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• FSC Realty Adds Pheasant Run to Its Properties
2/14/08
Pheasant Run, a 308-unit apartment community in the Washington city of Federal Way, was purchased by Beverly Hills-based FSC Realty LLC for $30.4 mil ($99k/unit). The property, located at 27314 24th Place South, was sold by P...
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• New Continuing Care Community to Be Pleasant Addition in Pleasanton
2/13/08
A new continuing care retirement community (CCRC) for people aged 62 or older is in the works for the NoCal community of Pleasanton. The development, called Stoneridge Creek, is a project of Continuing Life Communities LLC an...
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• M&M Brokers Trio of Recent SoCal Apartment Sales
2/12/08
For those of you who keep up with multifamily values throughout the Southland, here are three recent sales comps from Southern California sure to help you keep abreast of the latest values. We’ll lead off with a deal in West ...
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• Portland Apartment Property Sells for $93k/Unit
2/11/08
Forest and Garden Apartments, a 51-unit apartment community in Portland, was purchased by a local investor for $4.75 mil ($93.1k/unit). Built in 1925, the property is located near the 5, 84 and 405 Freeways at NW 20th and Hoy...
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• CT Stars in Macbeth Multifamily Performance
2/07/08
Two SoCal real estate firms, Newport Beach-based CT Realty Corp and Macbeth Apartment Systems Inc of Carlsbad, have teamed up in a new venture to acquire multifamily properties in the region.
For CT, the venture provides th...
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• Investment Activity in San Diego Apartment Market Expected to Maintain Pace
2/07/08
The apartment market in San Diego is expected to continue to post modest improvement this year, supported by steady job growth, high home prices and limited new supply, according to national brokerage firm Marcus & Millichap....
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• 141-Unit Reseda Community Offered for $17.5 Mil
2/06/08
A 141-unit multi-family complex in the central San Fernando Valley community of Reseda has been offered for sale with an asking price of $17.5 mil, or just over $124k/unit. The 92.1k sf property, called Villa La Paloma, is lo...
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• Western National Awarded Management Assignment for 5-Property Portfolio
2/05/08
A third-party management assignment for a portfolio of five new apartment communities in California was awarded to Western National Property Management, the multifamily real estate management arm of Western National Group, in...
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• DBBM Provides $185 Mil for Multifamily Portfolio Buy
2/05/08
In news of a sizable financing deal, Deutsche Bank Berkshire Mortgage (DBBM) recently provided BPG Properties Ltd a $185 mil Freddie Mac loan for the acquisition of Boston Capital REIT, an 11-property portfolio of multifamily...
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• CA Home Sales and Prices Take another Hit in December
2/05/08
Many homeowners in California are of the mindset that Congress’ proposed economic relief package can’t come soon enough, as the state continues to endure significant fallout from the implosion of the housing market. According...
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• Condo Development: Time to Live to Fight Another Day
2/04/08
by Jonathan Lee
By Jonathan Lee, Assistant Vice President
George Smith Partners
As George Smith Partners continues to dialogue with our clients regarding the financial landscape, it is the condominium developer that seems to have the most d...
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• Puget Sound Multifamily Asset Trades in $65 Mil Deal
2/01/08
A 464-unit multifamily community in the Puget Sound region was acquired by San Diego-based Fairfield Residential in a $65.6 mil ($141.4k/unit) transaction. The property, the Glen Park Apartments, is situated on 33 acres at 95...
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• North San Fernando Valley Multifamily Asset Fetches $175k/Unit
1/31/08
An 85-unit apartment complex in the northern San Fernando Valley sold for $14.85 mil, or approximately $174.7k/unit. Called Woodley Apartments, the property contains 116.7k sf of space on a 2.68-acre lot located at 10139 Wood...
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