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• Second Building at CityPlace Lofts is Nearing Completion
8/06/07
CityPlace Lofts, a $35 mil, 72-unit condominium/loft project in downtown Long beach, is nearing completion. The new multifamily project, bounded by Fourth St and Elm Ave, consists of a south building, which was completed in M...
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• KW Spends $45 Mil on College Education
8/06/07
Kennedy Wilson Multifamily Management Group (KW Multifamily), the Beverly Hills apartment investment group, recently closed on a notable buy in Silicon Valley, having paid $45.75 mil for College Park, a 331-unit ($138.2k/unit...
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• Downtown LA Loft Redevelopment Building Sells Out
8/03/07
The Textile Building, one of seven historic buildings that make up the Santee Village loft home redevelopment project in downtown Los Angeles, has sold its final unit, becoming the first adaptive reuse building in the Fashion...
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• Seattle and San Jose Multifamily Owners Enjoy Quarterly Rent Increases of 3.1%
8/02/07
Here's a review of mid-year apartment market rental rate figures, courtesy of NoCal-based RealFacts, a leading provider of information and data on the multifamily market.
Quarterly rent increases sizzled at 3.1% in the Seatt...
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• Ambitious Hollywood Mixed-Use Project Gets Green Light from LA City Council
8/01/07
By Allen Wolfsheimer
If anyone had doubts as to whether or not a full-blown renaissance is underway in Hollywood, news of this latest mega-project should put an end to that question. The Clarett Group, out of New York, recen...
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• $80 Mil WA Apartment Sale No Run of the Mill Deal
7/31/07
Beverly Hills-based Kennedy Wilson Inc closed on a large multifamily buy in the state of Washington, having paid $80 mil for The Mill, a 516-unit ($155k/unit) complex located at1102 158th Place SE and 1324 Mill Creek Rd in th...
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• SoCal Apartment Sales Review
7/31/07
HEMET (Riverside County) – The Riverdale Apartments, a 96-unit, 99.2k sf complex at 1250 S. Cawston Ave and 4100 W. Thornton Ave, sold for $10.4 mil ($108.3k/unit). The property sits on 2.8 acres and is located off Hwy 79/Win...
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• San Francisco's One Rincon Hill Tops Out with Time Capsule Ceremony
7/30/07
One Rincon Hill, San Francisco's tallest residential tower, recently commemorated the topping out of its Phase I tower with a time capsule ceremony held more than 600 ft. above the city, atop Rincon Hill. City dignitaries and...
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• CA Home Sales Off 24.7% while Prices Notch Up 3.2%
7/27/07
In news that's of little surprise to anyone who's kept up on the major economic trends in the state, California home sales decreased 24.7 percent in June compared with the same period a year ago, while the median price of an ...
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• StarPoint Picks Up Pair of Koreatown Apartment Buildings
7/26/07
Beverly Hills-based StarPoint Properties LLC purchased two adjacent apartment buildings in LA's Koreatown area for $40.1 mil. The properties are located at 249 and 269 S. La Fayette Park Place, west of Rampart Blvd and north ...
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• SoCal Multifamily Sales Review
7/24/07
PASADENA (Los Angeles County) – Orange Grove Circle Communities LLC paid $32 mil for the Town Homes at Orange Grove Circle, a 64-unit ($500k/unit) complex at 435 Orange Grove Circle, situated in the city's “Millionaire's Row ...
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• NoCal Apartment Sales
7/23/07
Interested in recent Bay Area apartment sales comps? Here's a review of a few smaller sales from the region, all of which were brokered, at least in part, by NAI BT Commercial.
We'll start in downtown San Leandro, where an 1...
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• Portland Investor Grabs $15 Mil Mesa, AZ Apartment Asset
7/19/07
Montego Villas, a 154-unit apartment community in Mesa, AZ, was acquired by a Portland investment entity for $14.565 mil ($94.6k/unit). The property, located at 949 South Longmore St, contains 22 buildings on 6.23 acres of la...
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• G&K Affordable Housing Portfolio in Denver Trades for $9.75 Mil
7/17/07
Red Stone Partners, a Denver-based affordable housing buyer, has purchased the 184-unit Goldrich & Kest Denver portfolio of HUD subsidized apartments. The portfolio sold for $9.75 mil ($53k/unit). It consists of the following...
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• Joint Venture Acquires 89-Unit San Jose Apartment Property
7/16/07
Pacific Coast Capital Partners LLC has formed a joint venture with Mill Valley-based TDT Ventures, an affiliate of Thompson/Dorfman Partners, and Bob Talbott for the acquisition and renovation of Cambrian Gardens, an 89-unit ...
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• Financing Notes
7/13/07
ARCS Commercial Mortgage: ARCS Commercial Mortgage Co arranged $44.8 mil in financing for the Highridge Apartments, a 255-unit property in Rancho Palos Verdes. Built 1972, Highridge is a garden-style complex comprised of 10, ...
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• SoCal Apartment Sales Review
7/11/07
HEMET (Riverside County) -- The Riverdale Apartments, a 99.2k sf, 96-unit multifamily complex located at 1250 S. Cawston Ave and 4100 W. Thornton Ave, sold for $10.4 mil ($108.3k/unit). The property, which sits on 2.8 acres o...
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• SoCal Apartment Sales
7/09/07
WEST LOS ANGELES (Los Angeles County) – A non-rent-controlled, 18-unit apartment property at 1636 S. Barrington was purchased by a private investor for $5.6 mil ($311.1k/unit). Built in 1986, the community was 100 percent occ...
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• Solid Year Predicted for San Diego Apartment Market
7/03/07
The San Diego apartment market is on pace for another solid year, as renter demand remains strong and development continues at a measured pace, according to a first-quarter Apartment Research Report by Marcus & Millichap. A s...
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• May CA Home Sales Drop 25% from 2006
7/02/07
The number of homes sold in California for the month of May decreased by 25 percent compared with the same period a year ago, while the median price of an existing home increased 4.8 percent, according to the most recent figu...
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