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• Equity Closes $86 Mil Buy in Chula Vista
4/07/06
An entity of Equity Residential, the giant Chicago-based residential REIT, has purchased the Missions at Sunbow, a 336-unit upscale condo rental property in Chula Vista. Located at 825 E. Palomar St, between I-5 and Broadway,...
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• Multifamily Briefs
4/06/06
SAN MATEO (San Mateo County) – Taylor Woodrow Homes, out of San Ramon, paid $14 mil for 12.55 acres ($26/sf) of land with a recorded map for the development of a 34-single family home project, to be called Verona Ridge. The l...
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• New Mixed-Use Project Springs to Life in Historic Downtown LA
4/05/06
A private investor acquired a three-building portfolio consisting of more than 800k sf of commercial space in downtown Los Angeles for $75 mil. In addition to the three buildings, a 63.7k sf surface parking lot was included ...
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• Pair of Glendale Apartment Properties Fetch $56 Mil
4/04/06
Two multi-family properties in Glendale, both of which are slated for condo conversions, were purchased by Cedar Management, a private investor that paid a combined $56 mil for the two assets. The properties are The Grand Vil...
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• Demand and Lack of Land Continues to Fuel LA Infill Projects
4/04/06
Here's a recent report from Hanley Wood Market Intelligence that discusses the ongoing trend in the LA area to redevelop infill property sites into denser, live/work-type urban environments that address the population's chang...
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• LA Investor Closes $12 Mil Apartment Buy in Hancock Park
4/03/06
A 45-unit luxury apartment community in LA's upscale Hancock Park area was purchased by a local investor for $12.4 mil ($275.6k/unit). The property is at 585 Rossmore Ave, north of Wilshire Blvd between Highland and Western A...
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• TMC and Forte Investments to Start Work on New Phases of Coachella Project
3/31/06
Coachella Land 389 LLC plans to start work later this year on phases two through five of the Rancho Las Flores community in Coachella. The new phases encompass a total of 96 acres and will be comprised of 389 single-family ho...
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• Multifamily Briefs
3/30/06
POWAY (San Diego County) -- Western National Realty Advisors' Fund I has acquired an interest in Silver Oak Apartments, a 193-unit apartment community located at 13409 Midland Rd. Western National Realty Advisors' Fund I is a...
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• New Condo Project Offers Bohemian Lifestyle in San Diego
3/29/06
A unique new condo project is underway near downtown San Diego, as California Equities has begun work on Bohemia, a 14-unit development being built in the Logan Villa part of town. The project is at 961 S. 16th St, between Im...
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• CA Home Prices Up 13.7%, Sales Down 15.5% from Previous Year
3/28/06
In the February figures from the California Association of REALTORS® (C.A.R.), the median price of an existing home in California increased 13.7 percent, while sales decreased 15.5 percent compared with the same period a year...
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• Archstone-Smith Acquires Second Phase of Upscale San Bruno Apartment Project
3/23/06
Archstone-Smith, the big Denver, CO-based apartment REIT, has acquired Paragon Luxury Apartments, a 185-unit multifamily complex being developed by a joint venture of Regis Homes, TMG Partners and MacFarlane Partners. The dea...
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• MJW and Phoenix Realty Close Escrow on Santee Village
3/22/06
MJW Investments and Phoenix Realty Group closed escrow on Phase II of Santee Village, the $92 mil redevelopment of three vintage garment industry buildings into 216 for-sale lofts and 23.5k sf of retail space in the Fashion D...
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• Hovnanian Acquires New 404-Unit Avenue One Project in Irvine
3/22/06
Here's a clarification to a story that we reported a few days ago. New Jersey-based K. Hovnanian (NYSE: HOV) has purchased the entire 404-unit Avenue One, a luxury mid-rise condominium community, currently under development i...
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• San Diego Condo/Rental Complex Trades for $48 Mil
3/20/06
A California limited partnership has acquired Club Pacifica, a 240-unit unit condo development in the Rancho San Diego area that has been operated as an apartment complex. It is located at 12191-12193 Cuyamaca College Dr East...
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• MacFarlane Partners Heads Uptown for Oakland Venture with Forest City
3/16/06
MacFarlane Partners and Cleveland-based Forest City Enterprises have teamed up in a venture to develop the first phase of the Uptown residential project in downtown Oakland. MacFarlane, which is HQ'd in San Francisco, had bee...
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• Multifamily Briefs
3/15/06
EAST HOLLYWOOD (Los Angeles County) – Buyers paid $4.85 mil for Sierra Vista, a 43-unit ($113k/unit) apartment complex at 5536 Sierra Vista in LA's East Hollywood area. The buyers, Namco Financial Inc and Amy Rubenstein, plan...
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• San Diego Apartment Market Continuing to Cool Down
3/14/06
Apartment sales volume in San Diego County fell for four consecutive quarters in 2005, signaling that the market may be correcting after nearly 10 years of record transaction activity and price increases. According to a new s...
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• Multifamily Briefs
3/13/06
PASADENA (Los Angeles County) – A private investor from Arcadia paid $7.2 mil for the Pasbury Apartments, a 23-unit ($313k/unit) community at 166 N. Wilson, near the 210 Fwy. Built in 2005 the complex is 100 percent occupied ...
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• Bascom Picks Up Its Eighth Seattle Apartment Community
3/10/06
Bascom Northwest Ventures LLC, a subsidiary of Irvine-based The Bascom Group, recently closed its eighth apartment acquisition in the Seattle area, having paid $8.45 mil for Mandarin View Apartments, a 96-unit ($88k/unit) pro...
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• Burbank Senior Artists Colony Takes Home Top Awards at National Show
3/09/06
The Burbank Senior Artists Colony, a 141-unit, 55-plus senior housing complex developed by Meta Housing Corporation, has captured the top prizes at the National Association of Home Builders (NAHB) 2006 Best of Senior Housing ...
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