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Don’t Overlook The Cliffs 12/03/08 Investors looking for a unique San Diego-area residential opportunity might want to check out The Cliffs, a 262-site manufactured home community for seniors which was recently listed for sale with an asking price of $35 mil (...
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CA Existing Home Prices in Oct Drop 40% 12/02/08 Home sales increased 117.1 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 39.9 percent, according to the latest numbers from the California Associati...
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Bascom Nabs $32 Mil Colorado Apartment Property 12/01/08 Saddle Ridge Village Apartments, a 320-unit Class A property in the exclusive Saddle Rock subdivision of Aurora, CO, recently traded hands in a $32.25 mil transaction, which valued the asset at $100.8k/unit. The property, sit...
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Townsite Makes a Good Multifamily Investment Site 11/26/08 Townsite Apartments, a fully occupied, 34-unit, 28.2k sf apartment building located at 131 Townsite Dr, north of the Hwy 78 and just east of Santa Fe Ave in Vista, was sold in a $3.6 mil ($105.9k/unit) deal. The property, wh...
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New Multifamily Project Adds 52 Affordable Units in Downtown LA 11/25/08 Temple Villas, a new 52-unit affordable housing development in downtown Los Angeles’ Beaudry/Echo Park area, just opened to the public. Located at 1417-1429 W. Temple St, the project is a development of AMCAL Multi-Housing in...
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Culver City is Upward Bound 11/24/08 The 18-unit Sun Bay Hotel at 12841 Washington Blvd in Culver City was acquired by the Upward Bound House, which plans to convert the property into an emergency shelter for families by 2009. This shelter will be the only progr...
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Apartment Investor Acquires a Touch of Hawaii in Mil Foster City Buy 11/21/08 A 42-unit multi-family community in Foster City traded hands in a recent deal that came close to the property’s $10.9 mil ($260k/unit) listing price. The 37.6k sf property, Kula Kai, is located at 808 Comet Dr, east of the 10...
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4,000-Unit Multifamily Portfolio to Get a New Guardian 11/20/08 An apartment portfolio consisting of 4,000 units in Las Vegas, Miami, Phoenix, and Seattle is set to trade hands, as Guardian Management LLC has signed preliminary agreements to acquire the assets from Atherton-Newport Invest...
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SoCal Investors Going Mobile 11/19/08 We’ve got two recent SoCal mobile home park sales to report, one in Hesperia and the other in La Mesa. The larger of the deals was in Hesperia, where Waterhouse Management Corporation paid $3.35 mil for Coral Isle Mobile Hom...
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SoCal Multifamily Sales Comps 11/17/08 In this article we’ll get you caught up on a number of recent multifamily sales comps from the Southland. Six of the deals are from LA County, while the remaining transaction took place in the OC city of Anaheim.
A few miles...
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Long-Range Outlook Favorable for Inland Empire Housing Sector 11/14/08 Although ongoing weakness in the housing sector has contributed to steady job losses and rising vacancy in the Inland Empire, the region’s long-range prospects remain favorable, according to a third-quarter Apartment Research...
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54-Unit Santa Barbara Apartment Asset Listed at $14 Mil 11/13/08 If you’re looking for a reason to visit Santa Barbara, perhaps this new multifamily listing in the popular SoCal beach city might do the trick. A local property owner is selling Camino De Vida, a 54-unit ($259k/unit) asset lo...
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Shelton Named President of Western National Property Management 11/12/08 Thomas K. Shelton, CAPS®, CPM®, has been named President of Western National Property Management, the multifamily management arm of Western National Group. Western National Property Management currently oversees the managemen...
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CMR Mortgage Fund Sells Pair of NoCal Apartment Properties 11/12/08 San Francisco-based Arroyo & Coates is a regional real estate services firm that specializes in multifamily investments deals, primarily in Northern California. A couple of their more recent transactions took place in Fresno ...
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Seattle-Area Apartment Property Trades for $270k/Unit 11/11/08 The market for residential investment property in the Puget Sound region continues to garner interest from across the country. In a recent example of significant size, Denver-based Apartment Investment and Management Company ...
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Colorado Buyer Gets Happy Feet after $43 Mil OR Apartment Buy 11/10/08 Monterey Springs, a 390-unit apartment community in the Portland, OR suburb of Happy Springs, recently traded hands in a transaction valued at $41 mil, or about $105.1k/unit. The property sits on more than 12 acres at 8640 SE...
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La Mesa Apartment Properties Fetch $53 Mil 11/07/08 A 406-unit La Mesa apartment portfolio traded hands in a $53.4 mil ($131.5k/unit) sale. The acquisition, known as the Baltimore Portfolio, consists of four low-density properties located at 5353, 5401, 5405 and 5445 Baltimore...
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San Francisco Apartment Market Remains Solid 11/07/08 Apartment fundamentals in San Francisco continue to maintain solid performance, despite a slowdown in local economic conditions, according to a third-quarter Apartment Research Report by Marcus & Millichap. Even with home pri...
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New Rancho Cucamonga Workforce Project to Add 166 Res Units 11/06/08 A new workforce housing project slated for development in the heart of Rancho Cucamonga, at Route 66 and Center St, near Haven Ave, will boost housing in the region by 166 units, of which 80 percent will be set aside for thos...
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Santa Rosa Multifamily Property Sells for $23 Mil 11/05/08 Vineyard Gardens Apartments, a 180-unit multifamily property in the Marin County city of Santa Rosa, traded hands in a recent sale worth $23 mil, or $128k/unit. It is located at 220-240 Burt St, east of the 101 Fwy and south ...
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