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Arizona Multifamily Sales Review 6/29/07 San Francisco-based Portico Properties has purchased Lakes at Metro, a 420-unit apartment community in Phoenix, AZ, for $22.85 mil ($54.4k/unit). The property is located at 11050 N. Biltmore Dr near I-17. Built in 1975 and 19...
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Bascom Acquires 504-Unit Asset in Georgia 6/28/07 The Bascom Group, out of Irvine, has just acquired another apartment property in Georgia, having purchased Stonebridge on Roswell, a 504-unit community located at 5675 Roswell Rd in Sandy Springs. The property was sold by Sha...
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Los Angeles Apartment Sales 6/26/07 LOS ANGELES (Los Angeles County) – BH Properties, out of Beverly Hills, paid $6.1 mil for Harvard Caltempo, a 48-unit ($127.1k/unit) apartment complex at 235 S. Harvard Blvd. Built in 1972, Harvard Caltempo was 100 percent oc...
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Archstone Smith Completes $49 Mil Apartment Buy in San Diego Area 6/25/07 Englewood, CO-based Archstone Smith has purchased The Palms of Carmel Valley, a 168-unit apartment complex in San Diego's Carmel Valley area, for $49.3 mil ($293.4k/unit). It is located at 13103 Kellam Ct, one block from Del ...
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SoCal Apartment Sales 6/22/07 UPLAND (San Bernardino County) – OC-based Sares-Regis Group paid $40.9 mil for Woodlane/Timberlane, a 300-unit apartment community located at 1472-1580 West 8th St. Built in 1973 (phase I) and 1976 (phase II) is comprised of ...
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Smart Residential Development in Downtown LA Heads South 6/21/07 The South Group has completed construction on Luma, a new 19-story residential condo tower in downtown LA's burgeoning new South Park neighborhood. The project, two years in the making, represents only the second new resident...
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New Urban Makes the Right Call in San Francisco Conversion Project 6/20/07 A landmark building at 74 New Montgomery St in downtown San Francisco made its historic re-debut as The Montgomery, a new residential condo tower. Built in 1914 as The Call Building and listed on the City's historical registe...
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Starpoint Spends $9.4 Mil on Pasadena Apartment Property 6/19/07 Beverly Hills-based StarPoint Properties LLC has purchased a 61-unit apartment building known as “The Royalton”in Pasadena for $9.4 mil ($154.1k/unit). The property, located at 2211 East Washington Blvd, north of the 210 Fwy ...
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Financing Notes 6/15/07 The Los Angeles office of Holliday Fenoglio Fowler L.P. (HFF) has arranged up to $28.1 mil in joint venture equity for the development of One Santa Fe, a mixed-use apartment project in downtown LA's Arts District. The procee...
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$52 Mil Koreatown Sale is a Gem of a Deal 6/14/07 Emerald Terrace, a 302-unit apartment community in LA's Koreatown, was purchased by an undisclosed Los Angeles-based institutional buyer for $52.75 mil ($174.7k/unit). The two-building property is located at 136 and 160 South...
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Northwest Multifamily News 6/13/07 BELLEVUE, WA (King County) – The Bascom Group, out of Irvine, purchased StoneCreek at Bellevue, a 206-unit apartment building at 14719 NE 37th Place. Built in 1978, the property consists of 84 one-bedroom / one-bath units and...
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Arizona News 6/12/07 Frankel Family Trust, out of Anaheim, has purchased Broadstone at Desert Sky, a 288-unit apartment community situated on 18.38 acres at 7850 West McDowell in Phoenix, for $38.16 mil ($132.5k/unit). Constructed in 2006/2007, B...
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SCI Nabs National Student Apartment Portfolio 6/11/07 A portfolio of five student apartment communities in three states totaling 1.32 msf was purchased by LA-based SCI Real Estate Investments, marking the company's first portfolio buy. SCI, which specializes in the acquisition ...
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Bascom Closes $48 Mil Georgia Acquisition 6/08/07 The Bascom Group, the active Irvine-based apartment investor/owner, has closed on a sizable buy in Georgia, having paid $48 mil for the Dunwoody Club apartment community, a 532-unit ($90.2k/unit) complex at 7700 Colquitt Rd i...
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SoCal Apartment Buyers Take It to the RE/MAX 6/07/07 The Whittier office of RE/MAX Commercial tends to be busy handling a lot of multifamily investment deals throughout SoCal. In this report we'll review a trio of recent sales they brokered in Upland, Cudahy and Whittier.
We'...
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Regional Multifamily Briefs 6/05/07 We've got seven recent apartment property transactions to catch you up on from around CA as well as a couple in Arizona.
FRESNO (Fresno County) - Laurel Canyon Apartments, a 100-unit gated apartment community at 1337 N. 9th...
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Vincal Puts $12.5 To Active Use in Retirement Hotel 6/04/07 It seems we're writing more and more about senior housing transactions, and here we have one for a senior hotel, as Vincal Senior Housing, LLC, a Newport Beach-based senior housing operator, has acquired the Burbank Gardens R...
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Los Angeles Multifamily Briefs 6/01/07 LOS ANGELES, (Los Angeles County) – Brokers at Sperry Van Ness completed the sale of Park View Apartments, a 30-unit apartment community, to Sherman Oaks-based Trimax Properties for $1.84 million ($61.3k/unit). The property i...
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Renovated Koreatown Apartment Property Fit for a Kingsley 5/31/07 An investor paid $4.8 mil for The Kingsley Apartments, a vintage multifamily project in the heart of LA's Koreatown. Located at 530 South Kingsley Dr, the five-story complex features 45 units ($106.7k/unit) situated on approx...
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50+ Housing Council Announces Call for Sage Award Entries 5/30/07 The 50+ Housing Council Board, a special interest council of the Building Industry Association of Southern California, announced earlier this month its call for entries to the 13th annual SAGE Awards. The program honors and r...
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