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• Archstone-Smith Pays $170 Mil for San Francisco Apartment Property
9/08/06
Archstone-Smith, the Colorado-based apartment REIT, has closed on a sizable San Francisco buy, paying $170 mil for St. Francis Place, a 410-unit apartment property located at the corner of 3rd and Folsom Streets in the city's...
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• Northwest News
9/07/06
Bascom Northwest Ventures LLC has just wrapped up its ninth apartment buy in the Seattle area, pushing its portfolio in the region to 2,480 units. In this latest deal, the company paid $19.5 mil for The Villa D' Italia Apartm...
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• Irvine Apartment Firm Picks Up Second South FL Asset
9/06/06
Atherton-Newport Investments LLC, the Irvine-based real estate investment and development company, has acquired its second multi-family community in Miami, FL, having paid $15.4 mil for Asbury Park, a 234-unit ($65.8k/unit) a...
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• Hat Trick of Mobile Home Park Sales Add Up to $15 Mil
9/05/06
A trio of SoCal mobile home park sales was brokered by Marcus & Millichap in deals ranging from $8.4 mil down to $1.6 mil. The three transactions were in Visalia, El Cajon and Apple Valley.
We'll start with the largest deal,...
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• July Figures Show 30% Drop in CA Home Sales from Prior Year
9/05/06
Home sales tumbled a hefty 29.9 percent in July in California compared with the same period a year ago, while the median price of an existing home increased 5.1 percent, compared to figures from one year earlier, according to...
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• Sacto-Area Apartment Property Sells for $33 Mil
9/01/06
A private Sacramento region investor purchased the Medici Apartment Homes, a 216-unit community in the Sacramento submarket of North Natomas, for approximately $33 mil ($152.8k/unit). The seller was a partnership led by SoCa...
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• SoCal Apartment Sales Comps
9/01/06
HOLLYWOOD (Los Angeles County) – Santa Monica-based Brown & Sexton paid $3.21 mil for an 18-unit ($178.3k/unit) apartment property at 2520 N. Beachwood Dr. The buyer is planning extensive renovations to the complex, including...
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• Financing Notes
9/01/06
Real estate investment banking firm George Smith Partners Inc has arranged two bridge loans totaling $38 mil for the acquisition of the 200-unit Rancho Las Brisas apartments in Murrieta and the 186-unit Andorra apartments in ...
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• Carlsbad to Get New Transit-Oriented Mixed-Use Project
8/31/06
Costa Mesa-based Trammell Crow Residential has announced plans for a new mixed-use, transit-oriented development in Carlsbad, to be called Poinsettia Commons. The project is located just a short walk from the beach at the cor...
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• NY Developer Picks Up Staples Center-Adj Site for Mixed-Use Project
8/31/06
The Moinian Group, out of New York, has acquired a 4.6-acre site across the street from Staples Center in downtown LA for development of a major mixed-use project slated to include residential units, retail and hotel space. I...
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• Bascom Invests $13 Mil in Denver Apartment Community
8/30/06
Irvine-based The Bascom Group has purchased The Village at North Hills, a 168-unit luxury apartment community located at 11450 Melody Dr in the mile-high city of Denver, CO. The asset, which traded for $12.9 mil ($76.8k/unit)...
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• Continued Slowdown in SD Apartment Investment Market
8/29/06
San Diego County apartment sales activity has slowed for the sixth consecutive quarter while the slowdown in condo conversions also continues, according to the latest research from Burnham Real Estate Services.
“This slowd...
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• Bascom Wraps Up $32 Mil Colorado Buy
8/28/06
The Bascom Group LLC, out of Orange County, has purchased Greenbriar at Saddle Rock, a 292-unit luxury apartment community located at 22159 East Ontario Drive in Aurora, CO. The property was sold by Fairfield Stonebriar LP fo...
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• Property Management Notes
8/28/06
The San Francisco office of Charles Dunn Company has been awarded the management assignment by the city and county of San Francisco for the 140-unit Midtown Park Apartments, which occupies an entire city block located at the ...
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• Downtown LA Res Conversion Rakes in the Awards
8/25/06
Pacific Electric Lofts, a unique residential conversion project in downtown Los Angeles, has stood out from other competitive projects in the market, having been recognized not only for its historic status, but also for it sw...
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• Prudential Rolls into Richmond with The Tides
8/24/06
Prudential Real Estate Investments purchased The Tides Apartments, a 200-unit community at 3185 Garrity Way in the west Contra Costa County city of Richmond. The asset, which is located next to the Hilltop Plaza Shopping Cent...
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• Financing Notes
8/23/06
Fremont Investment & Loan has provided a $128.5 mil construction loan to a venture headed by Spring Capital Group and KT Properties for the ground-up construction of Axis, a 22-story, 329-unit for sale condominium project in ...
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• 23% of First-Time Buyers Can Afford Median-Priced Home in CA
8/23/06
The percentage of first-time buyers in California able to afford a median-priced home stood at 23 percent in the second quarter of 2006, compared with 30 percent for the same period a year ago, according to a newly developed ...
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• Property Management Notes
8/23/06
G.H. Palmer Associates has awarded the management contract for a 12-community, 5,473 unit apartment portfolio to Western National Property Management, the multifamily real estate management arm of Western National Group. This...
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• Irvine Company Closes $182 Mil SD Apartment Buy
8/22/06
The Irvine Company closed on a big San Diego apartment buy, having paid $182.5 mil for Villa Dorado, a 668-unit ($273k/unit) complex located at Friars Rd and Northside Dr, across the street from Qualcomm Stadium in Mission Va...
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