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• SoCal Apartment Investment Opportunity is Definitely Waterfront Property
3/05/08
Looking for a unique SoCal beachfront investment opportunity? Here’s news of a 161-unit Redondo Beach apartment complex that might fit the bill. The property is The Waterfront, a 125k sf asset situated on 3.65 acres on the sa...
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• Wrightwood has the Wright Stuff to Finance San Bernardino Apartment Buy
3/04/08
Wrightwood Capital provided $22.5 mil to finance the acquisition of Mountainside Village Apartments, a 197-unit multifamily community located at 1660 Kendall Dr, east of I-215 at University Pkwy in San Bernardino. As reported...
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• ARA Acquires 220-Unit Puget Sound Community
3/03/08
Investors snapped up another large multifamily asset in the Puget Sound region, as the 220-unit Archstone Harbour Pointe complex was purchased by SoCal-based American Realty Advisors for $41 mil, or $186.4k/unit. The property...
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• Work Completed on Final Phase at La Costa Glen Carlsbad
2/29/08
Construction has been completed on the fourth and final phase at La Costa Glen Carlsbad, a continuing care retirement community in Carlsbad. Approximately 300 new residents are expected to move into the community by the end o...
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• 2008 Looking Like More of the Same for CA Housing Market
2/29/08
The first month of 2008 treated California’s housing market no better than the final months of 2007, as sales declined 29.8% in January, compared with the same period one year earlier. Prices also continue to suffer, as the ...
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• Kennedy Wilson Invests another $36 Mil in Seattle Area Apartment Market
2/28/08
Marking the company’s fourth Seattle-area apartment acquisition in the last 15 months, Kennedy Wilson Multifamily Management Group (KW Multifamily) just closed on a $35.72 mil purchase of James Street Crossing, a 300-unit ($1...
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• Starpoint Nabs 54-Unit Burbank Complex
2/28/08
Starpoint Properties purchased a 54-unit apartment complex in the city of Burbank for $11.5 mil ($213k/unit). Located at 1800 Grismer Ave, between the I-5 and Glenoaks Blvd, the asset is situated near Burbank’s Media District...
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• Golden Boy Hopes to Turn South Gate Infill Site to Gold
2/27/08
Boxing superstar Oscar De La Hoya took a big swing at real estate development the other day with the groundbreaking for the first urban infill project to be developed by Golden Boy Partners, the real estate development compan...
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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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