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• Hines and USAA Real Estate Break Ground on 200-Acre TOD Project in Mission Valley
9/23/22
Hines and USAA Real Estate have begun construction on phase one of Riverwalk San Diego, a 200-acre transit-oriented development in western Mission Valley. Riverwalk San Diego will transform the existing Riverwalk golf course ...
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• AZ Multifamily Community Trades in $68 Mil Deal
9/22/22
Ponderosa Ranch, a 272-unit, value-add multifamily community in Tempe, AZ, traded to a new owner in a $68.5 mil ($251.8k/unit) transaction. The asset was sold by KKR.
Ponderosa Ranch is a 272-unit, garden-style multifamily c...
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• Community Preservation Partners Picks Up Housing Communities in CA, NM and AZ
9/20/22
Community Preservation Partners (CPP) has acquired three multifamily housing communities located in California, New Mexico and Arizona. The assets have a combined purchase price of $48.75 mil.
One of the properties is Park V...
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• Next Wave Investors Close on $34 Mil Portland Area Apartment Buy
9/20/22
Next Wave Investors LLC has purchased The Nash, a 180-unit multifamily community in the Portland metro submarket of Gresham, OR, located in Multnomah County. The property, located at 224 SE 188th Ave, traded for $34 mil, or $...
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• Two-Property San Jose Res Portfolio Goes for $350k/Unit
9/20/22
A two-property, 118-unit senior affordable housing portfolio in San Jose traded hands in a recent $41.25 mil ($349.7k/unit) transaction. The assets -- Monte Vista Gardens Senior 1 and 2 -- were sold by ROEM Development, who b...
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• Continental Realty Assets Ltd and MLG Capital Buy 112-Unit Res Property in Colorado
9/19/22
Continental Realty Group, through its subsidiary Continental Realty Assets, Ltd. ("CRA"), a Denver-based multifamily owner and operator, in partnership with Milwaukee-based MLG Capital, is pleased to announce the purchase of ...
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• University of Washington is Looking for a Student Housing Developer/Operator to Manage Four-Property Portfolio
9/19/22
The University of Washington (UW) has issued a request for qualifications for a student housing developer and operator of a rare four-property university housing and development site portfolio in Seattle. The portfolio includ...
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• Legacy Partners and Pacific Life to Start Work on 236-Unit Denver Multifamily Development
9/16/22
Legacy Partners and Pacific Life have broken ground on Araceli, a 236-unit, Class A, NGBS Green-Certified Gold high-rise in Denver. The project was designed by KTGY with Catamount Constructors as the general contractor.
The ...
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• Sares Regis Group and Caltrain Land Approval for 191-Unit Res Development at the Hayward Park Train Station
9/16/22
In a public/private partnership, Sares Regis Group of Northern California (SRGNC) and Caltrain have gained approval from the San Mateo Planning Commission for a new apartment community called Hayward Park Transit Oriented Dev...
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• Package Deliveries to Seattle Multifamily Properties Jump 53% Over One Year Earlier
9/14/22
The growth of package deliveries to Seattle residents at multifamily properties has seen a jump of 53% over the same time period in 2021, according to ButterflyMX, a leading provider of smartphone-based access control technol...
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• Cairn West Completes $65 Mil Multifamily Buy in Washington
9/13/22
Cairn West purchased BLIS Apartments, a 114-unit multifamily community located on Bainbridge Island, WA, for $65.5 mil ($574.5k/unit). The property was sold by Sound West Group.
Located at 747 Hanami Lane NE in Bainbridge Is...
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• Intercontinental Real Estate Corporation and MG Properties Team Up in $87 Mil Agoura Hills Res Buy
9/13/22
A joint venture between Intercontinental Real Estate Corporation and MG Properties has acquired The Lexington Apartments, a 178-unit apartment community in Agoura Hills, for $87.3 mil, or $490.4k/unit. The property was sold b...
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• AZ Developer Secures $57 Mil in Construction Money for 187-Unit Tempe Res Project
9/12/22
A Scottsdale, AZ-based commercial developer has obtained $57.9 mil in construction financing for a 187-unit multifamily development in north Tempe. The mid-rise, Class A project is located immediately adjacent to a Valley Met...
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• Preservation Equity Fund Advisors Picks Up Two Affordable Housing Communities in Colorado
9/12/22
Preservation Equity Fund Advisors LLC (PEF Advisors) has acquired Reflections Senior and Woodbridge Senior Apartments in Fort Collins, CO, two affordable housing communities located in a market with a high cost of living.
...
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• Monem Corporation Spends $10.8 Mil on Two L.A. Area Multifamily Buys
9/12/22
Monem Corporation has acquired two L.A. area multifamily properties totaling 59 units for $10.82 mil ($183k/unit). With these latest acquisitions, Monem now owns more than 100 multifamily properties.
One of the properties, l...
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• Cushman & Wakefield and Greystone Strengthen Joint Multifamily Platform with Addition of Premier Financing Team in Denver
9/09/22
A veteran Equity, Debt and Structured Financing (EDSF) team led by Craig Branton, M.S., has joined a joint, multifamily platform from Cushman & Wakefield and Greystone Servicing Company LLC in Denver, CO. Branton, Vice Chairm...
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• American Capital Group to Begin Construction on Res Development in West Sacramento
9/09/22
Construction of Kinect @ Southport, a new, 322-unit suburban community located in the highly desirable West Sacramento submarket, is set to begin now that American Capital Group, the developer, has received funding for the pr...
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• Trion Properties Spends $95 Mil on Multifamily Portfolio in Oregon
9/09/22
Trion Properties acquired a 302-unit multifamily portfolio the in the Beaverton submarket of Portland for $94.8 mil, or about $314k/unit. Properties in the portfolio include Jasper Place, Jasper Square, and Willow Grove.
Ja...
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• SB Real Estate Partners Spends $56 Mil on Phoenix Area Multifamily Buy
9/08/22
SB Real Estate Partners has purchased Obsidian on Ocotillo Apartments, a 232-unit multifamily project in Glendale, AZ, for $56.4 mil, or $243k/unit. The property was sold by Tower 16 Capital Partners, who acquired the asset i...
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• L.A. County Rental Housing Market Exits the Pandemic with Strong Demand
9/07/22
This report was provided by real estate services firm NAI Capital
Market Overview
The vacancy rate for multifamily housing in Los Angeles County fell to 3.3% in the second quarter of 2022, down 10 basis points quarter over ...
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