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• New Owner Takes Shot at Sportsman Lodge
1/26/07
Sportsman Lodge, a 24-room motel located at 1410 Rosecrans St, on the west side of San Diego International Airport in San Diego, has been sold for $2 mil ($83.3k/unit). The asset (no relation to the legendary Sportsman's Lodg...
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• Bascom Picks Up 182-Unit Georgia Asset
1/25/07
Irvine-based The Bascom Group LLC snapped up another Georgia multifamily asset, paying $5.580 mil for the Highland Orchard Apartment community, a 182-unit ($30.7k/unit) property located at 1190 Millcrest Walk in Conyers, GA. ...
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• LA Apartment Market Ranked 9th Nationally
1/24/07
Modest employment growth, coupled with declining home affordability, will maintain vigorous renter demand for Los Angeles apartment properties in 2007 and in the years ahead, according to Marcus & Millichap Real Estate Invest...
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• Multifamily Sales Review
1/18/07
PARAMOUNT (Los Angeles County) – A joint venture of real estate equity capital firm Hanover Financial and Kennedy Wilson Multifamily Management has purchased Century Place, a 306-unit apartment community located at 13801 Para...
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• SCI Grabs New 367-Unit Texas Apartment Complex
1/17/07
SCI Real Estate Investments, the LA-based real estate investment firm that specializes in 1031 exchange properties, has acquired Mandalay on the Lake, a new 367-unit luxury apartment property in Texas. The Class A asset is lo...
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• Historic Hollywood Property to Undergo Major Renovation
1/16/07
An 80-year-old residential/retail complex in the historic Whitley Heights neighborhood of Hollywood is about to undergo an extensive, multi-million dollar renovation that will completely update the property while striving to ...
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• Multifamily Sales Review
1/15/07
PACIFICA (San Mateo County) – Horizon West, a 78-unit complex at 365 Talbot Ave, sold for $15.1 mil ($193.6k/unit). Built in 1970, the property offers a mix of one- and two-bedroom units, many of which have views of the Pacif...
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• Property Management Notes
1/09/07
Griffin Partners has awarded the leasing and management responsibilities of its Somerset Apartments in Temecula to Western National Property Management, an entity of Irvine-based Western National Group. Somerset is a 318-unit...
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• Matteson Closes $46 Mil OC Apartment Buy
1/08/07
Redwood City-based JB Matteson Institutional Capital Partners LLC (“JB Matteson”) purchased the Waterstone at the Grove Apartments, a 245-unit property located at 9155 Central Ave, east of Beach Blvd and just south of the 22 ...
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• Northwest Multifamily News
1/05/07
PORTLAND, OR (Clark County) -- The San Diego and Portland offices of Holliday Fenoglio Fowler, L.P. (HFF) teamed up to arrange joint venture equity for the development of 937, a 16-story luxury mixed-use residential condomini...
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• Bascom Closes 3rd Georgia Apartment Property in as Many Weeks
1/04/07
The Bascom Group, the Irvine-based apartment investment/management firm, continues on its aggressive buying tear in Georgia with its third acquisition in the state in the past few weeks. In this latest deal, the company paid ...
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• Property Management Notes
1/03/07
Irvine-based Keystone Pacific Property Management Inc was awarded the property management contract for Rosedale, a master-planned development in the San Gabriel Valley town of Azusa. Developed by Azusa Land Partners LLC, a j...
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• November Home Sales in CA Down 22.2% from Prior Year
12/28/06
November home sales in California dropped 22.2 percent in November in California compared with the same period a year ago, while the median price of an existing home increased 1.4 percent, according to the latest figures from...
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• KW Multifamily Closes Out Year with Deal of the Century
12/27/06
Kennedy Wilson Multifamily Management (KW Multifamily) has closed out 2006 with another big deal, having purchased the 306-unit Century Place apartment community in the city of Paramount for $51.5 mil ($168.3k/unit). The prop...
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• BRE Invests $50 Mil in Carmel Ranch Apartment Community
12/22/06
BRE Properties, the San Francisco-based apartment REIT, closed on a sizable buy in San Diego County, having paid about $50 mil for Carmel Terrace, a 246-unit complex in the Carmel Mountain Ranch area. The asset, located at 11...
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• SoCal Apartment Investors Take It to the MAX
12/21/06
The real estate pros at RE/MAX Community Realty Commercial Division, out of Whittier, handle more than their fair share of multifamily investment deals around the southland, and beyond. In this report, we'll take a look at a ...
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• Lennar Venture Happy to Be Singing the Folsom Blues for Cash in SF
12/20/06
Folsom Ventures LLC, a joint venture between Lennar Homes of California Inc and 631 Folsom LLC (controlled by John Malcolm of Malcolm Properties Inc), is set to begin construction of a 114-unit luxury condominium tower locate...
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• Multifamily Sales Review
12/19/06
LA CRESCENTA (Los Angeles County) – Realty Center Management Inc purchased Montrose Manor, an 85-unit apartment building at 2800 Montrose Ave, for $12 mil ($141.2k/unit). The two-story building is fully leased. Built in 1972,...
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• Bascom Enjoys Marietta Hot Springs with 2nd Recent Georgia Buy
12/18/06
The Bascom Group LLC has closed on another acquisition in Marietta, GA, as the Irvine-based apartment investment company paid $11.4 mil for the Autumn Chase apartments, a 207-unit ($55.1k/unit) complex located at 2650 Bentley...
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• Investor Acquires Pair of LA Apartment Properties for $9.1 Mil
12/14/06
Prana Investments has acquired two multifamily properties, with a combined 93 units, in LA's Hollywood and Mid-Wilshire areas for a total of $9.1 mil ($97.8k/unit). The assets, both of which were built in the late 20s, were s...
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