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Financing Notes 1/06/06 Fremont Investment & Loan, the national commercial real estate lending entity of Fremont General Corporation, has wrapped up a trio of big multifamily deals in Arizona, two of which were with Vancouver, Canada-based 20/20 Pro...
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Multifamily Briefs 1/05/06 DIAMOND BAR (Los Angeles County) – Seasons Senior Apartments, a 149-unit asset at 23750 Highland Valley Rd, traded hands at a price of $14.4 mil ($96.6k/unit). The 82.7k sf property was constructed in 1989 and is situated on ...
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Multifamily Briefs 1/04/06 UPLAND (San Bernardino County) – The Laurel and Palmetto Apartments, a 29-unit apartment complex on .7 acres at 889 North Laurel Ave and 888 North Palm Ave, sold for $4.19 mil ($144.5k/unit). The property was constructed in 1...
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Financing Notes 1/03/06 Irvine-based TMC America has provided $16.77 mil of equity financing for four new single-family home communities by Pinnacle Real Estate Ventures Inc. Two of the developments are at Quartz Hill, located in Lancaster, while th...
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Bascom Arizona Reaches $270 Mil in Acquisitions Over the Last 18 Months 12/30/05 Bascom Arizona Ventures LLC has closed on another sizable Arizona acquisition, after paying $13.7 mil for the Northern Landing Apartment community, a 286-unit ($47.9k/unit) asset located at 8135 North 35th Ave. Connecticut-ba...
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New Pacific Reaches Shore in Beverly Hills 12/29/05 In one of the bigger condo development announcements from the past month, at least in terms of glamour and cost, New Pacific Realty made public its plans for its high-profile site at 9900 Wilshire Blvd, just east of the famou...
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Sperry Van Ness Keeps the Multifamily Deals Moving Along 12/27/05 Here are the latest multifamily deal briefs from Sperry Van Ness (SVN), the national investment brokerage operation based out of Irvine. These transactions cover two smaller apartment sales and a land sale in Southern Califor...
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Seniors to Get New Lease on Life at University Village 12/23/05 Construction has begun on Phase I at University Village Thousand Oaks, a new continuing care retirement community in Thousand Oaks. The community's new model home is now open for tours. The model home, which features a full-s...
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Multifamily Briefs 12/22/05 CORONA (Riverside County) -- San Diego-based investor Hammer Ventures has purchased The Crossing, a 296-unit ($182k/unit) apartment complex at 2125 High Point Dr. Hammer paid $53.9 mil for the asset, which it plans to convert...
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Archstone-Smith Acquires 300-Unit San Bruno Apartment Complex 12/21/05 Archstone-Smith, the big Colorado-based apartment REIT, has acquired Meridian Luxury Apartments, a 300-unit complex in San Bruno that was developed and owned by a joint venture of Regis Homes, TMG Partners and MacFarlane Part...
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Western National Acquires Site for 202-Unit Northridge Project 12/21/05 Western National Realty Advisors' Fund I has purchased a 2.4-acre parcel of land in Northridge, on which it plans on developing a 202-unit multifamily community named Boulevard Apartments.
This is the second solid investment...
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Olson Company Breaks Ground on $90 Mil Buena Park Project 12/20/05 The Olson Company was joined by officials from the city of Buena Park and Metrolink for the recent groundbreaking of Founders Walk, a $90 mil transit-oriented village in Buena Park. The development, which will consist of 19...
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Bascom Entering Its Renaissance Period in the San Fernando Valley 12/19/05 A joint venture of The Bascom Group LLC and Rockwood Capital has purchased Renaissance Apartment Homes at Warner Center, a 477-unit apartment community in the San Fernando Valley community of Woodland Hills. It was sold by Re...
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Partnership Planning $1 Bil Hotel/Condo Project on Hawaii 12/16/05 A 29-acre site located in the Waikoloa Beach Resort on the Big Island of Hawaii, one of the last entitled beachfront resort sites in the state, has been acquired by a partnership led by Pasadena-based developer James Ratkovic...
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Property Management Notes 12/16/05 Western National Property Management, the multifamily real estate management arm of Western National Group, has been retained to manage a five-community, 1,477-unit apartment portfolio on behalf of its owner, G.H. Palmer Asso...
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Lustig-Bower Team a Winning Choice for Multifamily Sales in LA Area 12/15/05 CB Richard Ellis' Team Lustig-Bower has closed in excess of $201 mil in multi-family sales in greater Los Angeles over the past six months. Of the 19 sale transactions, over $150 mil were condominium-conversion sales or devel...
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CA Housing Affordability Remains at 15% for October 12/14/05 The percentage of households in California able to afford a median-priced home stood at 15 percent in October, a 4 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, according...
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M&M Pros Close Trio of SoCal Apartment Sales 12/13/05 In this report we'll take a look at a trio of sizable SoCal apartment sales, ranging between $13 mil and $22 mil and brokered by Marcus & Millichap. The deals were in Azusa, Colton and Tustin.
We'll start with the largest de...
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Legacy Partners Teams Up with the Directors Guild in West Hollywood Rez Project 12/13/05 Foster City-based Legacy Partners has entered into a long-term ground lease with the Directors Guild of America to replace an existing parking lot and develop a new $60 mil mixed-use luxury apartment rental community. The dev...
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H.G. Fenton Leaves Its Mark on San Diego Multifamily Industry 12/12/05 H.G. Fenton Company was honored with 17 awards at the San Diego County Apartment Association's 12th annual Mark of Excellence awards program, which recognizes the “best of the best” in the local multifamily housing industry. ...
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