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• Bascom Acquires another 440 Units in the Denver Area
9/21/07
The Bascom Group closed on a major Colorado apartment buy, having paid $51.7 mil for Lakecrest at Gateway Park, a 440-unit ($117.5k/unit) complex located less than fifteen miles northeast of downtown Denver along the I-70 Fwy...
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• Koreatown Apartment Buy Reaches New Heights
9/20/07
La Fayette Heights, a 117-unit apartment community in Los Angeles' Mid-Wilshire/Koreatown area, just west of downtown, sold for $18 mil ($153.8k/unit). The property was sold by Bascom Grand Lafayette Apartments LLC, an entity...
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• Washington State Multifamily Sales
9/19/07
SEATTLE – Burlingame Partners LP, out of Seattle, paid $3.55 mil for Burlingame, a 39-unit ($91k/unit) complex at 404 East Howell St. It was sold by Burlingame Associates LLC, out of Bellevue, who converted what was the Burli...
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• Unique Hollywood Hills Development Parcel to Be Auctioned Off
9/18/07
Here's a chance to create your own Hollywood landmark, as an 11.9-acre residential land parcel in the Hollywood Hills will be auctioned off on November 17. The site, situated off Laurel Canyon Blvd, will be sold to the highes...
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• SoCal Multifamily Briefs
9/12/07
SAN MARCOS (San Diego County) – Northwoods Apartments, a 138-unit multifamily complex at 420 Smilax Rd, traded hands for $19.1 mil ($138.4k/unit). Northwoods consists of 10 buildings, featuring spacious one-, two- and three-b...
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• NoCal Apartment Sales
9/10/07
In this update we'll look at four recent NoCal multifamily sales, all of which were handled by brokers at NAI BT Commercial, the active Northern California-based real estate services firm. These latest deals took place in the...
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• Vue from the Top is Getting Closer as Five Floors Completed
9/05/07
Construction of five floors have been completed (the bottom five, of course) at Vue, a new 318-unit luxury condo tower in San Pedro. The project, which is scheduled for completion in fall 2008, will be the first and largest n...
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• 24% of Households can Afford Entry-Level Home in CA
9/04/07
The percentage of households that could afford to buy an entry-level home in California stood at 24 percent in the second quarter of 2007, compared with 23 percent for the same period a year ago, according to the latest data ...
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• Embarcadero Capital Acquires 272-Unit Sacramento Apartment Property
9/04/07
Embarcadero Capital has purchased The Falls at Arden, a 272-unit, garden-style, multifamily community located at 2345 Northrop Ave, north of Fair Oaks Blvd and west of Watt Ave in Sacramento. The property, which sold for $29....
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• New Month; Same Story: CA Home Sales Down 22.7%
8/30/07
In what comes as a surprise to very few people at this time, California home sales decreased 22.7 percent in July compared with the same period a year ago, while the median price of an existing home increased 3.2 percent, acc...
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• Bascom Spends $15.7 Mil on Torrance Apartment Property
8/29/07
The Bascom Group has purchased the Harbor Terrace Apartment community, a 100-unit complex located at 1314 N. Harbor Blvd in Santa Ana, for $15.75 mil, or $157.5k/unit. The property was sold by Donbev Prop II LTD in a deal tha...
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• Tempe Apartment Property Sells for $29.7 Mil
8/27/07
Greenwood Village, a 270-unit apartment complex located at 4505 South Hardy Dr in Tempe, AZ, was acquired by a La Jolla investment entity for $29.7 mil ($110k/unit). It was sold by PM Greenwood, LLC / Margo Capri, LLC / Patri...
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• Gilroy Listing Offered at $143k/Unit
8/22/07
Here's an interesting multifamily listing in the NoCal community of Gilroy that we thought you might be interested in. The property is Monte Bello Ridge, an 80-unit community located at 985 Monte Bello Dr. It consists of eigh...
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• Opus Completes Work on Mission Bay Condo Project
8/16/07
Phoenix-based Opus West Corp has completed work at Park Terrace at Mission Bay project, a seven-story residential complex comprised of 110 units located at 325 Berry St in San Francisco's Mission Bay area. The high-end condo...
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• Apartment Unit Sales Up in SD Due to Larger, but Fewer, Deals
8/14/07
A second quarter San Diego County apartment report just released by Burnham Real Estate shows that for the first time since year-end 2005, the San Diego County apartment market realized a year-to-year increase in the number o...
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• NoCal Multifamily Deal News
8/13/07
MADERA (Madera County) – ARCS Commercial Mortgage arranged $6.89 mil in financing for the Bridgeview Apartments, a 123-unit complex in Madera, a NoCal town located about 25 miles northwest of Fresno. Built 1990, Bridgeview is...
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• Las Vegas Apartment Sales
8/10/07
There continues to be substantial interest in multifamily assets in Las Vegas. In this report we'll take a look at three notable recent transactions.
In the largest of the three, Spanish Oaks, a 216-unit complex at 2301 Sou...
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• AvalonBay Makes a $21 Mil Run for the Hills
8/09/07
AvalonBay Communities, out of Newport Beach, has acquired South Hills, an 85-unit apartment community located at 2900 East Virginia Ave in West Covina. The asset was sold by San Diego-based MG South Hills Apartments LP for $2...
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• The Costa for La Costa is $22 Mil
8/08/07
A Portland, OR-based investment group has closed on an Arizona apartment buy, after paying $22.3 mil for the La Costa Apartments, a 194-unit ($114.9k/unit) community at 1820 W. Lindner Ave, near the 60 Fwy in Mesa, AZ. The pr...
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• Oxnard Developer Channels Its Efforts into New Res Conversion Project
8/07/07
Channel Islands Building & Development Partners, an Oxnard-based developer, has acquired a 53.3k sf industrial building formerly occupied by the Oxnard Press Courier newspaper for $3.15 mil. Situated on 2.18 acres at 300 W. 9...
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