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December 12, 2024
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MULTIFAMILY NEWS
Archive
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• Record $238 Mil Vegas Seniors Portfolio Sale is a Carefree Deal
7/26/06
In what is reportedly the largest multifamily sale in Nevada's history, a portfolio of nine active senior communities in the Las Vegas area was purchased by an Orion Residential-led venture for $238.9 mil. The deal, which con...
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• Passco Acquires Pair of Houston Apartment Properties
7/25/06
Passco Companies, the Irvine-based tenant-in-common (TIC) investment firm which has been very active in the retail sector, has acquired two luxury apartment complexes in the greater Houston area totaling 537 units. The proper...
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• Core Realty Picks up 2,400 Units in North Carolina and Virginia
7/24/06
In more news of CA investors going east, Newport Beach-based Core Realty Holdings LLC acquired a 2,400-unit multifamily portfolio located in North Carolina and Virginia. The assets were sold by another OC-based entity, Real E...
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• Kennedy Wilson Invests $46 Mil in Anaheim Apartment Complex
7/21/06
Kennedy Wilson Multifamily Management Group (KW Multifamily) has purchased Vista Pointe, a 286-unit apartment community located at 175-225 S. Rio Vista St, east of the 57 Fwy and north of Lincoln Ave in the city of Anaheim. T...
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• Strong Demand Expected to Keep LA Apartment Market Humming Along
7/20/06
Despite considerable new construction, the Los Angeles apartment market is expected to post lower vacancy and higher rents, due to robust tenant demand, according to a recent research report by Marcus & Millichap Real Estate ...
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• Nexus' OC Project the Tallest Res Development in Airport Area
7/19/06
Nexus Development is underway with Skyline at MacArthur Place, a new high-rise residential tower project at the corner of Jamboree and Michelson, in Orange County's Airport area. The project, which is comprised of two, 25-sto...
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• Private Investor Spends $38 Mil on Anaheim Apartment Complex
7/18/06
A private investor has purchased Silver Pines Apartments, a 261-unit apartment complex located at 801 North Loara St, south of La Palma Ave and east of Euclid St in Anaheim. The property sold for $38.65 mil, or about $148.1k/...
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• Multifamily News
7/13/06
LOS ANGELES (Los Angeles County) – ARCS Commercial Mortgage closed on $7 mil in financing for the Kingsley Drive Towers, an 83-unit multifamily property in the Wilshire/Westlake area of the city. Built in 1988, the garden-sty...
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• Opal Partners on a Mission in Central California
7/11/06
Westlake Village-based Opal Capital Partners plans to develop a 100-unit market rate multifamily housing development in the city of Tulare, in Central California. Called Mission Trails, the $15 mil project is located on a ful...
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• Multifamily News
7/10/06
WESTCHESTER (Los Angeles County) – A residential development site of just over an acre at 7401-7425 S. Sepulveda Blvd was purchased by Sovereign Properties III LLC for $4.725 mil. The site includes a vesting tentative tract m...
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• Hollywood Conversion Project Underway
7/07/06
Palisades Development Group has begun conversion work on a historic 124k sf building at the northeast corner of Hollywood and Vine Streets in Hollywood. The former office property, known as the Equitable Building, is being co...
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• New 320-Unit Res Project Opens in Moreno Valley
7/06/06
A new 320-unit gated residential community in Moreno Valley has officially opened to the public. The 18-acre development, called Ridgeview, is at 25335 Alessandro Blvd, in one of the city's most central locations. Developed b...
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• Vegas Multifamily Asset Trades for $37 Mil
7/05/06
Mountain Springs Apartments, a 352-unit, 308.1k sf apartment complex at 1701 Rock Springs Dr in Vegas was purchased by an unnamed investor for $36.84 mil ($104.7k/unit). The complex sits on more than 15 acres of land, and is ...
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• Multifamily Briefs
6/30/06
BRENTWOOD (Los Angeles County) – A Malibu-based private investor has paid $4.1 mil for Brentwood Gardens, a 50-unit ($82k/unit) multifamily community located at 12221-12225 San Vicente Blvd. Originally built in 1961, the two-...
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• June 29, 2006 - $850 Mil Village to Sprout at Edge of Summerlin
6/29/06
A new $850 mil, 29-acre mixed-use development is underway at the edge of the master-planned Las Vegas community of Summerlin. Called The Village at Queensridge, the upscale residential/retail/office project will contain 340 c...
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• CA Prices Up 8%, Sales Down 21% from Year Ago
6/28/06
The median price of an existing home in California increased 8 percent in May, while sales decreased 21.1 percent compared with the same period a year ago, according to the latest data from the California Association of Realt...
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• Pre-Sales of New San Francisco Res Tower Take Off
6/27/06
Pre-sales at the first phase of One Rincon Hill, a soaring twin-tower residential complex currently under construction at the corner of First and Harrison Streets in San Francisco, has been a huge success, as buyers snapped u...
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• Multifamily Briefs
6/22/06
MONTEREY (Monterey County) – The 2004 Ramirez Family Revocable Trust paid $5.5 mil for a 32-unit ($171.9k/unit) apartment building at 400-412 Dela Vina Ave. Wylie Mitchell, Greg Findley and Daniel Vorhies of NAI BT Commercial...
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• Multifamily Briefs
6/21/06
Hendricks & Partners is one of most active multifamily investment brokerage firms in the country, handling many of the larger deals across the southland and throughout much of the Western US. In this report, we'll give you a ...
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• Weststone Underway on New 134-Unit Condo Development in Tempe
6/20/06
Phoenix-based Weststone USA, has begun construction on the Northshore Condominiums, a 134-unit condo project located on a 2.62-acre site on the shore of Tempe Town Lake in Tempe, AZ. The development, which marks the fifth con...
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