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Sylmar Apartment Property Fetches $158k/Unit 8/05/08 An investor paid $12.85 mil for Foothill Glen Apartments, an 81-unit ($158.6k/unit) multi-family community located in Sylmar, in what is reportedly one of the most expensive sales ever achieved in Sylmar, based on a price-per...
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Latest Episode of East Bay Watch Covers Three Apartment Sales 8/04/08 Three recent multi-family asset sales in the East Bay totaled up to just under $6 mil in total value. The transactions, for a combined 43 units, took place in the cities of Hayward, Oakland and Alameda.
In the Hayward deal, ...
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Holliday Fenoglio Fowler Arranges $167 Mil for USC-Adjacent Housing Project 8/01/08 The Los Angeles office of Holliday Fenoglio Fowler, L.P. (HFF) arranged a construction loan and joint venture equity totaling $167.5 mil for University Gateway, a luxury student housing and ground-floor retail project adjacen...
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Bascom Group Closes $60 Mil Colorado Apartment Buy 7/31/08 The Bascom Group, the Irvine-based real estate firm that specializes in value-add apartment buys, recently closed on a large Colorado acquisition, paying $60.8 mil for Gleneagles Apartments, a 562-unit ($108.8k/unit) Class A ...
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AZ Res Community Offers Resort Lifestyle for Active Adults 7/30/08 A growing active-adult community in Arizona provides an affordable lifestyle for adults aged 55 and older. Called Dolce Vita, the project offers amenity-laden homes that start in the $90k’s. The freestanding manufactured hous...
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Anaheim Apartment Property Listed at $56.5 Mil 7/29/08 A 286-unit Anaheim apartment property has come on the market with a listing price of $56.5 mil, which works out to about $197.6k/unit. The asset, Mariposa, is located at on an 11.5-acre lot at 175-211 South Rio Vista St, sout...
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Median CA Home Price Down 37.7% from Prior Year 7/28/08 SoCal’s typical June Gloom carried over to the housing market for the entire state, as the median price of an existing home in CA fell an astounding 37.7 percent compared to prices for the same period one year earlier, accord...
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LA-Area Apartment Comps 7/28/08 Here’s a rundown on three recent apartment sales comps and a multifamily development site sale from in and around the San Fernando Valley, in the northern part of the Greater Los Angeles Basin. The transactions, which took pl...
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Strong Demand Spurs Sale of 38-Unit Palo Alto Apartment Building 7/25/08 Here’s a follow-up on a NoCal multifamily property we previously reported as being on the market. The property, Mayfield Manor, a 38-unit apartment building in Palo Alto, just traded hands. Although the actual price was not d...
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MVE & Partners and BRIDGE Housing Find Gold Nuggets in Fremont Development 7/24/08 The new Irvington Terrace apartments in the city of Fremont was awarded a 2008 Gold Nugget Grand Award in the category of Best Affordable Project (30 housing units per acre or more), and an additional 2008 Gold Nugget Merit A...
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Sparks Fore-cast Calls for New Luxury Apartment Project 7/23/08 Fore Property Company has started construction on a 300-unit luxury apartment community located in the Spanish Springs area of Sparks, Nevada. The project will be built on a 20-acre parcel in the Pioneer Meadows master-planne...
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San Francisco Apartment Listings Come with Hefty Price Tags 7/23/08 Here’s a look at two notable multi-family investment opportunities in San Francisco, both of which are listed with James Devincenti of Marcus & Millichap. The pricey properties are in the Pacific Heights and Nob Hill sections...
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Washington Investor Spends $17 Mil on Polo Club 7/22/08 A local investment entity paid $16.9 mil for Polo Club, a 200-unit ($84.5k/unit) apartment community located at 4820 NE Hazel Dell Ave in Vancouver, WA. Constructed in 1996, Polo Club is 193.4k sf in size and consists of a mi...
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Dramatic Hollywood Building Acquired by Dramatic Academy 7/21/08 A historic Hollywood apartment building that was recently renovated was just acquired by the American Musical and Dramatic Academy (AMDA) to help house its growing student body. AMDA agreed to a 12-year, $13 mil lease for the...
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HFF Recapitalizes Pair of Inland Empire Multifamily Properties 7/18/08 Two multifamily communities in the Inland Empire have been recapitalized in recent financings totaling $33.4 mil. The properties are the 172-unit Sunscape Apartment Homes in Alta Loma and the 180-unit Linden Court Townhomes i...
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Apartment Buyer Joins Country Club Crowd in Oceanside 7/17/08 The Country Club Apartments, a 91-unit multifamily asset in Oceanside, was recently acquired by a private investor for $10.2 mil, or $112k/unit. The 76.6k sf property is located at 201 Country Club Lane, south of Mission Ave ...
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New Lifestyle Development to Add 421 Res Units for USC Students and Staff 7/16/08 This summer, Urban Ventures begins construction on University Gateway, an ambitious, multi-faceted residential/retail development designed to meet the growing housing and lifestyle needs of USC students, professors, staff and...
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NoCal Multifamily Activity Review 7/15/08 In this report we’ll update you on two recent closed apartment sales from Northern California, in San Carlos and Rocklin, along with a current listing from the NoCal city of Palo Alto. All three properties sold for or are lis...
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235-Unit Mercer Island Apartment Community Trades Hands 7/14/08 United Dominion Realty Inc (UDR) has acquired Island Square, a 235-unit multifamily complex located at 2758 78th Ave SE in Mercer Island, WA, for $112 mil, according to King County records. That works out to a hefty price tag...
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670-Unit Vegas Apartment Complex Sold by AIMCO 7/11/08 Situated just 10 minutes from the Las Vegas Strip, Canyon Pointe is located adjacent to the Nevada Palace Hotel and Casino and the newly developed Eastside Cannery Hotel and Casino. The site boasts views of Sunrise Mountain ...
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