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July 12, 2024
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MULTIFAMILY NEWS
Archive
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• Shea Wins another Award for City Lights
9/20/05
City Lights, a 793-unit apartment community owned by OC-based Shea Properties was given Reader's Choice Award for “Best Apartment Community” in Orange County. The Orange County Register presented the honor as part of its 12th...
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• Apartment Renters Seem to Know the Way to San Jose
9/19/05
Occupancy rates in San Jose's apartment market is expected to continue improving over the next year, thanks in great part to soaring single-family home prices and the return of employment growth, according to the latest Apart...
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• Multifamily Briefs
9/15/05
LAKESIDE (San Diego County) -- Marilla Manor Apartments, a 54-unit complex on 1.3 acres at 9760 Marilla Dr, has been sold for $4.4 mil ($81.5k/unit). The complex is made up 36 large studio units with oversized kitchens. In ad...
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• Inland Empire Apartment Market Continues to Sizzle
9/14/05
The Riverside/San Bernardino apartment market is expected to outperform other regions around the nation due to robust economic expansion and limited new supply, according to the latest data from Marcus & Millichap. The In...
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• CA Housing Affordability Remains at 16%
9/13/05
The percentage of households in California able to afford a median-priced home stood at 16 percent in July, a 3 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, according to...
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• San Francisco Apartment Market is Picking Up
9/12/05
The San Francisco apartment market is beginning to reflect improving economic fundamentals, according to the latest Apartment Research Report for the city from Marcus & Millichap. Occupancy is on track to firm slightly this y...
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• Multifamily Briefs
9/09/05
LAS VEGAS (Clark County) – Ridge Villas LLC, out of San Diego, paid $24.45 mil for Amber Ridge, a 316-unit ($77.4k/unit) complex at 346 Sturgeon Lane. Brian Anderson and Carl Sims of Hendricks & Partners brokered the deal on ...
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• ICO Development Charged Up over Leasing at Pacific Electric Lofts
9/06/05
Although not officially opened yet, the newly completed Pacific Electric Lofts in downtown Los Angeles is already about 58% leased. The oldest downtown office building to be converted to residential use, it also has emerged a...
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• Multifamily Sales Update
9/01/05
PLACENTIA (Orange County) – Archstone-Smith paid over $77 mil for Somerset Park, a 416-unit ($185.1k/unit) apartment property at 310 S. Jefferson St, at the corner with Orangethorpe. Built in 1986, the property was around 95%...
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• Multifamily Briefs
8/29/05
August 26, 2005 – Multifamily Briefs Sares*Regis Group Closes $52 Mil Buy in Murrieta; Investor Acquires Escondido Complex for Condo Conversion MURRIETA (Riverside County) – Cal Oaks, a 460-unit apartment complex 24375 Jacks...
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• Live The Hollywood Life at New Condo Tower
8/26/05
An exciting new upscale condo project is underway in the heart of Hollywood, as Metro Modern Developers just broke ground on The Hollywood, a five-story development at 6735 Yucca St, just east of Highland Ave and north of Hol...
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• Irvine Firm Takes $76 Mil Bite out of Vegas Apartment Market
8/25/05
Irvine-based Atherton-Newport Investments LLC has completed a series of four apartment community acquisitions totaling approximately $76 mil in the greater Las Vegas real estate market. The company plans to rehabilitate and ...
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• Broadway Lofts Opens to Public in Downtown SD
8/24/05
Broadway Lofts, the renovation and reuse development of the historic First National Bank building in downtown San Diego, was recently re-opened to the public. Developed by Watt Genton Associates, in partnership with Barrow S...
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• CA Apartment Sales
8/23/05
CARMICHAEL (Sacramento County) -- Parkview Investors LLC paid $6.45 mil an 11-building, 43-unit ($150k/unit) apartment property located at 7032 Fair Oaks Blvd. Originally built in 1985 and situated on 2.2 acres of land, the p...
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• Investors Gulp Down Villa Sangria at $135k/Unit
8/22/05
Despite recent news reports about a topping out in the SD residential market, apartment properties in San Diego County continue to be a hot commodity, particularly by speculators hoping to still be able to cash out by convert...
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• June Housing Affordability for CA Remains at 16%
8/18/05
The percentage of households in California able to afford a median-priced home stood at 16 percent in June, a 2 percentage-point decrease compared with the same period a year ago when the Index was at 18 percent, according to...
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• Bascom Heads for the Highland in $29 Mil Lafayette Buy
8/16/05
Bascom Northwest Ventures has acquired Lafayette Highland Apartments, a 150-unit apartment complex in Lafayette, a suburban NoCal community situated just west of Walnut Creek in the East Bay area. The property, which represen...
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• San Bernardino Complex Fetches $159k/Unit
8/15/05
The Woodlands Apartments, a 69-unit apartment community at 1965 Coulston St in the city of San Bernardino, sold for $11 mil ($159.4k/unit). Located less than one block from the city of Loma Linda, the property was built in 19...
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• 52-Unit LA Project is in the W.O.R.K.S. from AMCAL
8/12/05
AMCAL Multi-Housing Inc, a SoCal developer of affordable workforce housing, has partnered with W.O.R.K.S. (Women Organizing Resources, Knowledge and Services) on Temple Villas, a new 52-unit affordable apartment complex for f...
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• Multifamily Briefs
8/11/05
LA MESA (San Diego County) – Lake Village Apartments, a 200-unit complex on 8.7 acres at 5415-5441 Lake Murray Blvd, was acquired by SCb-Adagio LLC at a price of $42.1 mil, or about $210.5k/unit. Constructed in 1985, the prop...
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