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• Multifamily Sales Review
11/03/06
WALNUT CREEK and SAMMAMISH, WA (Alameda and King Counties) BayConn LLC, out of New York, collected $112.4 mil from the sale of a two-property, 626-unit apartment portfolio. In one of the deals, Archstone-Smith acquired Bay ...
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• $157 Mil Community Planned for Ridgecrest
11/02/06
Craig L. Byrne & Co Inc hopes to break ground next year on a master-planned community in the Inland Empire city of Ridgecrest, to be called On the Park. The $157 mil project is located on 110 acres at the corner of College ...
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• Bascom Joins the Country Club Set in Colorado
11/01/06
The Bascom Group, out of Irvine, closed on a sizable Colorado purchase, having paid $34.65 mil for Country Club at Saddle Rock, a 312-unit ($111k/unit) luxury apartment complex located at 21904 East Ontario Dr in the city of ...
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• C.A.R. Forecasts a 2% Price Drop for CA Homes in 2007
10/31/06
Look for home prices in California to drop a bit next year, while the sales pace is expected to also decrease, as the market goes through a stabilization period in 2007. At least that's the opinion of the CALIFORNIA ASSOCIATI...
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• Cendant Group Acquires Mission Valley Asset for Timeshare Conversion
10/30/06
Trendwest Resorts purchased Oakwood Mission Valley, a 170-unit apartment property in San Diego's Mission Valley, for $32.8 mil ($193k/unit). The buyer is a division of Cendant Timeshare Resort Group, which intends to convert ...
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• September CA Sales Drop 31.7% from 2005
10/27/06
Sales of homes in California dropped a hefty 31.7% in September compared with the same period one year earlier, while the median price of an existing home managed to eke out a 1.8% increase over the prior year, according to t...
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• Planned San Francisco Res Tower Expected to Fetch Close to $2,000/sf
10/27/06
The residential condo tower boom in San Francisco still appears to have a lot of steam left, and one developer looking to keep that going for a while is Don Peebles, who has plans to create a super-luxury high-rise in the cit...
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• Starpoint Acquires 10 LA Apartment Properties
10/26/06
LA-based StarPoint Properties LLC has acquired a portfolio of 10 LA-area apartment properties for a combined total of $86 mil. The properties, located in Los Angeles (1 building), Granada Hills (1), Van Nuys (2), North Hollyw...
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• Multifamily Sales Review
10/25/06
TUCSON, AZ (Pima County) Bascom Arizona Ventures paid $15.9 mil for Meridian East, a 314-unit ($50.6k/unit) apartment community located at 8110 E. Speedway Blvd. Art Wadlund handled negotiations for the buyer and the seller...
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• Valley Associates Closes $48 Mil Valley Apartment Buy
10/24/06
Valley Associates LLC acquired eight separate apartment complexes in the San Fernando Valley, totaling 400 units, in an off-market transaction valued at $48.36 mil, or about $120.9k/unit. The properties are located at: 6101 -...
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• New San Pedro Res Project Gets Underway
10/23/06
Vue, a $175 mil, 16-story luxury condominium being developed by Galaxy Commercial Holding in San Pedro, commemorated the start of construction with a concrete pouring ceremony on October 12 at the development site. The event ...
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• North Beach Apartment Building Fetches $330k/Unit
10/20/06
Two San Francisco private investors acquired St. Ann's Apartments, a nine-unit, 8.3k sf apartment building at 770 Filbert St, in the heart of San Francisco's North Beach area, for $2.975 mil ($330.6k/unit). The asset was sold...
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• Eight-Property LA Apartment Portfolio Listed at $69 Mil
10/19/06
Urbatec is marketing an eight-property apartment portfolio totaling 812 units throughout the LA area. The portfolio is being offered for $68.75 mil, or about $84.7k/unit.
The marketing assignment for the portfolio was awar...
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• Northwest News
10/18/06
SEATTLE, WA -- Sonnenblick-Eichner Company has arranged $28 mil of first mortgage financing for the Hotel Andra located in downtown Seattle. The financing is a 10-year fixed rate loan priced in the low 100 basis point range ...
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• Redwood City Investor Nabs Four LA-Area Apartment Buildings
10/17/06
JB Matteson Institutional Capital Partners LLC (JB Matteson) has acquired four apartment buildings, with a combined 199 units, in LA's Mid-Wilshire area for $22 mil ($110k/unit). The properties were acquired as part of a valu...
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• New Project to Add 68 Res Units for the Commons Folk in Monrovia
10/13/06
Pacific Coast Capital Partners and Colorado Commons, LLC a joint venture between Barker Pacific Group and Argosy Investors LLC have formed a joint venture for the development of Colorado Commons at Old Town, a mixed-use pr...
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• SoCal Apartment Comps
10/12/06
ALHAMBRA (Los Angeles County) The Karyn Trust, out of Los Angeles, paid $1.25 mil for San Marino Vista, a 10-unit ($125k/unit) apartment building at 200-202 N. Huntington Dr. This was the first time that the property traded...
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• Ratkovich Gets City Approval to Add Res Condos at The Alhambra
10/11/06
The Alhambra City Council has unanimously approved plans by The Ratkovich Company (TRC) to build a 351-unit residential condo project on the northeast corner of its office campus known as The Alhambra. This housing component ...
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• New Phoenix Apartment Complexes Become Part of Mid-America
10/09/06
Here's a look at a few recent apartment sales from Arizona, all of which were brokered by Hendricks & Partners, the national multifamily brokerage firm. These latest transactions occurred in Phoenix and Tucson.
In the larges...
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• Bascom's Arizona Ventures Picks Up Another 1,500 Units in Tucson Area
10/05/06
Bascom Arizona Ventures LLC has just acquired a seven-property, 1,566-unit apartment portfolio located in Arizona for a total cost of $62.5 mil, or roughly $39.9k/unit. Six of the properties are in Tucson, while the remaining...
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