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• SoCal Apartment Market Expected to Remain Strong
4/17/07
Hundreds of SoCal real estate pros were in attendance earlier this month for one of the region's top industry events, the Fifth Annual Casden Multifamily Forecast Conference, put on by USC's Lusk Center for Real Estate. The e...
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• Bascom Spends $9.5 Mil at Marketplace
4/16/07
The Bascom Group, the big Irvine-based apartment investment firm, has purchased the 52nd Marketplace Apartments, a 157-unit apartment complex located at 7797 West 52nd Ave in Denver. The asset, which sold for $9.5 mil ($60.5k...
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• NoCal Investor Spends $21 Mil on Pair of Santa Barbara Apartment Properties
4/12/07
Essex Portfolio LP, out of Palo Alto, has purchased two Santa Barbara multifamily properties, with a combined 108 units, for a total price of $21.15 mil ($195.8k/unit). The assets in this transaction are the Continental, a 38...
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• Financing Notes
4/11/07
George Smith Partners has arranged $28.4 mil in construction financing for the development of a mixed-use project at 801 N. Fairfax Ave in LA, a block south of West Hollywood. The infill project, a development of Frost/Chaddo...
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• Multifamily Sales Review
4/10/07
MESA, AZ (Maricopa County) – Sandbridge, a 300-unit asset located at 5332 East Baseline Rd, was purchased by Colonial Properties Trust, out of Birmingham, AL, for $41.3 mil ($137.7k/unit). Built in 2002, Sandbridge consists o...
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• Northwest News
4/09/07
Bascom Northwest Ventures LLC sold a three-property, 189-unit Bay Area apartment portfolio for $30.65 mil ($162.2k/unit) and then exchanged the proceeds from the sale of two of those assets into the $17 mil purchase of Lexing...
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• Northwest News
4/05/07
Kennedy Wilson Multifamily Management (KW Multifamily), a subsidiary of Beverly Hills-based Kennedy-Wilson, has purchased The Heights on West Campus (The Heights), a 401-unit, 355.9k sf apartment complex in Federal Way, WA, a...
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• Beverly Hills Renters Have Reason to Feel Blu
4/04/07
Pre-leasing is about to kick off at Blu, a unique, new 11-story high-rise apartment building at 8601 Wilshire Blvd, west of Robertson Blvd in Beverly Hills. Representing the first modern, luxury for-lease tower in the city, B...
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• MBK is Rocklin and Rolling after Latest NoCal Buy
4/03/07
Irvine-based MBK Senior Living has acquired Casa De Santa Fe, a 159-unit senior living community located in the Placer County town of Rocklin, roughly 20 miles northeast of Sacramento. The price was not disclosed.
The state...
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• LA Apartment Portfolio Trades for $70 Mil
4/03/07
An eight-property apartment portfolio, totaling 812 units, was purchased by an LA-area private investor for $70.78 mil ($87.2k/unit). The portfolio was sold by Encino-based Urbatec for $2.74 mil above the original asking pric...
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• Carmel Partners Lands on Park Place
4/02/07
Carmel Partners, a San Francisco-based full-service real estate investment company, acquired the Park Place Apartments, a 246-unit complex at 16282 E. Main St, on the west side of I-5 in Tustin. The asset was sold by Park Pla...
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• CA Homes Sales Down 9.6% in Feb, While Prices Up 5.7% from Prior Year
3/30/07
As expected, CA home sales decreased 9.6 percent in February compared with the same period a year ago, while the median price of an existing home increased 5.7 percent, according to the latest data from the California Associa...
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• Urban Village for San Pedro Receives Entitlements
3/28/07
San Pedro's waterfront is getting a much needed, exciting new mixed-use development, as
Palos Verdes Street Investments LLC (PVSI) has obtained entitlements to develop a $110 mil mixed-user on 1.6 acres of waterfront land in ...
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• Multifamily Sales Review
3/28/07
WOODLAND HILLS (Los Angeles County) – Malibu-based Weintraub Financial paid $10 mil for El Dorado Business Park, a 39k sf office/industrial building that the company intends to redevelop into a residential project. The proper...
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• Strong Opening for Historic Santee Village Project
3/27/07
The initial response to the opening of MJW Investments' historic lofts at Santee Village has been strong, with buyers locking up reservations for 20 units within the first week the property was being marketed. Located between...
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• LA Apartment Portfolio Sells for $70 Mil
3/26/07
An LA-based private investor has purchased an eight-property apartment portfolio in the Los Angeles area, totaling 812 units, for $70.8 mil ($87.2k/unit). It was sold by Encino-based Urbatec.
From what we hear, the listing g...
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• Bascom Buys 127-Unit Denver Property
3/22/07
Chalk up another buy for The Bascom Group LLC, as the active Irvine-based apartment firm paid $10.6 mil for the Regis Place Apartments, a 127-unit ($83.5k/unit) complex located at 4703 West 52nd Ave in Denver. The property wa...
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• Northwest Multifamily News
3/21/07
KENNEWICK, WA (Benton County) – The Orchard at Hansen Park, a 212-unit apartment property at 7701 West 4th Ave, was purchased by Orchard Capital for $16 mil ($75.5k/unit). Newly constructed in 2003, The Orchard at Hansen Park...
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• Bascom Acquires $12 Mil SD Apartment Asset
3/20/07
The Bascom Group has purchased the Las Palmas/Laurel Tower Apartment community (collectively referred to as Las Palmas), a 132-unit asset located at 3710-3810 Wabash Ave, south of University Ave and a block east of I-805 in t...
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• Vegas Multifamily Asset Sells for $32 Mil
3/19/07
An unnamed investor has purchased Emerald Bay Apartments, a 337-unit complex located at 4701 E. Sahara Ave, between S. Lamb Blvd and S. Nellis Blvd in Las Vegas. The asset, which was sold by Emerald Bay Apartments Las Vegas L...
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