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• Property Management Notes
10/04/06
Western National Property Management has been awarded the leasing and management responsibilities for the Visconti, G.H. Palmer Associates' newest luxury apartment complex in Downtown Los Angeles. Located at 1221 West Third S...
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• Construction Underway at New Continuing Care Development
10/03/06
Construction has begun on the free-standing villa residences at University Village Thousand Oaks, a new continuing care retirement community. The project is located at 3350 Campus Dr in Thousand Oaks, on the northwest corner...
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• Multifamily Activity Update
10/02/06
INDIO (Riverside County) – Sol Rabin of Griffin Properties purchased the Andorra Apartments, a 186-unit community at 81720 Avenue 46, near Hwy 111. The asset contains only two-bedroom units, situated in 14 three-story buildin...
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• Turnberry to Build Upscale Res Tower on San Francisco's Rincon Hill
9/29/06
South Florida-based Turnberry Associates has acquired a site at 45 Lansing St in Rincon Hill, near First and Harrison Streets in San Francisco's SOMA district, for the development of a glitzy 305-unit condo development estima...
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• Montgomery Partners Stocks Up in Stockton
9/28/06
Montgomery Partners purchased the Venetian Bridges Apartments, a 354-unit apartment community at 2244 Rosemarie Ln, south of March Lane and east of I-5 in the city of Stockton. At a price of $34 mil, or $96k/unit, the transac...
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• Ontario Town Square Breaks Ground in City's Redeveloping Historic Core
9/28/06
The City of Ontario and J.H. Snyder Company, the prolific LA-based developer, have teamed up in the development of a new mixed-use project within Ontario Town Square, the 12-square-block planning area, bordered by Euclid Ave,...
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• CA Home Sales Drop 30% in Biggest Year-to-Year Decline since Aug ‘82
9/27/06
California home sales decreased 30.1 percent in August compared with the same period a year ago, while the median price of an existing home increased 1.6 percent, according to the latest figures from the California Associatio...
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• Real Estate Partners Makes $87 Mil San Clemente Multifamily Buy
9/27/06
Irvine-based Real Estate Partners has purchased Seacrest Apartment Homes, a 368-unit luxury apartment community located at 240 Avenida Vista Montana, south of Calle Del Cerro and east of I-5 in San Clemente. The property was ...
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• Mozaic Adds to the Housing Tapestry of Downtown LA
9/26/06
Pre-leasing has begun for Mozaic, a new luxury for-lease apartment community located at Alameda St and Cesar Chavez Ave, adjacent to the historic Union Station in downtown Los Angeles. The project, a development of Lincoln Pr...
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• Private Investor Likes to Tango in Vegas
9/25/06
The Tango Condominium Homes, a 136-unit apartment community in Las Vegas, was purchased by a private investor for $17.3 mil ($127.2k/unit). The 117.6k sf property, located at 6570 W. Flamingo Dr, was sold by Tango Condominium...
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• KDF Spends $75 Mil on 691 Units in San Jose
9/22/06
Newport Beach-based KDF Communities has acquired four multifamily properties totaling 691 units in the city of San Jose for a total of $74.6 mil ($110k/unit). KDF plans to invest an additional $13.2 mil in the properties as p...
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• DBN to Redevelop Santa Barbara Site into Live/Work Artisans' Building
9/21/06
Laguna Hills-based DBN Development LLC has acquired an industrial building at 116 East Yanonali St in Santa Barbara, for redevelopment into a live/work building where artisans and entrepreneurs can purchase space. The buildin...
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• Regional Multifamily Activity Update
9/20/06
SANTA CLARA (Santa Clara County) – RREEF America LLC paid $105 mil for Summerwood Apartments, a 468-unit ($224k/unit) complex built in 1970. The property features large unit sizes, an excellent location and a highly attractiv...
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• Inland Empire Viewed as Strongest Market for Multifamily Investment
9/19/06
The Inland Empire region of Riverside/San Bernardino Counties is considered the top multifamily investment market in the US, according to Sperry Van Ness' 2006 “Top 10 Markets To Watch” report for the multifamily sector. The ...
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• Essex Closes Record-Setting San Mateo Apt Buy
9/18/06
Palo Alto-based Essex Property Trust has acquired the Hillsdale Garden Apartments, a fully occupied, 697-unit apartment complex located at 3421 Edison St, near the major cross street of El Camino Real in the city of San Mateo...
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• Multifamily Briefs
9/15/06
PHOENIX, AZ (Maricopa County) – Newport Beach-based WLA Investments paid $17.5 mil for the Rancho Viejo Apartments, a 266-unit, 207.2k sf ($65.8k/unit) complex on more than 10 acres of land at 8530 N. 22nd Ave. and Butler Dr...
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• Multifamily Briefs
9/14/06
RIDGECREST (Kern County) – La Mirage, a 300-unit multifamily property at 401 Oasis Dr sold for $20.95 mil, or about $69.8k/unit. The 55-acre property features a variety of floor plans ranging from two-bedroom units to five-be...
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• Legacy Closes $52 Mil Buy in the West San Fernando Valley
9/13/06
Foster City-based Legacy Partners has purchased Waterstone Apartments, a 348-unit complex in Chatsworth, for $52 mil ($149.4k/unit). The asset is located at 9901 Lurline Ave, east of De Soto Ave and south of Devonshire St in ...
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• Financing Notes
9/12/06
ARCS, the big multifamily lender based out of Calabasas, certainly closes many, many deals around the Southland, to say the least. Here's a sampling of a few recent such transactions in the LA area, along with examples from F...
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• Multifamily Sales Update
9/11/06
HUNTINGTON BEACH (Orange County) – Las Brisas, a 76-unit apartment community located at 7981 Bay Dr, within a mile from the Pacific Ocean, was acquired by a Mission Viejo investment entity for $28.1 mil ($370k/unit). The asse...
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