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• Western Pacific Gives to Charities for Condo Project
11/10/05
Western Pacific Housing Inc has purchased the American Red Cross and American Heart Association building sites, along with an adjacent parcel of land located in San Diego's Hillcrest area, in related but separate deals totali...
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• Latest M&M's are No Halloween Leftovers
11/09/05
The pros at Marcus & Millichap, the national investment brokerage firm, tend to land a lot of the big multifamily listings throughout the state. In this report, we'll take a quick look at three of their more interesting listi...
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• Development Venture Planning another High-Rise Condo Tower in Irvine
11/08/05
A planned OC high-rise condo tower boasts the first-ever rooftop pool in the area. The 15-story project, to be called 3000 The Plaza, is located on Jamboree Rd between Campus Dr and Dupont Dt in Irvine. The rooftop entertainm...
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• Multifamily Sales Comps
11/07/05
MOUNTAIN VIEW (Santa Clara County) – The Diplomat Apartments, a 124-unit property at 1050 Crestview Dr, was acquired by Security Properties for $23.3 mil ($187.9k/unit). Security intends to renovate the complex. It was sold b...
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• Penthouse Rentals at Pacific Electric Lofts has ICO Charged Up
11/04/05
ICO Development has made its new 9th Floor Penthouse Apartments at the Pacific Electric Lofts available for rent in downtown LA. The units, which are part of ICO's conversion of this historic building at the corner of 6th and...
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• Life is Just Grand for Developers of New Condo Project in San Francisco's SOMA
11/03/05
A new hotel-style residential development in San Francisco's South of Market area just broke ground the other day. The development, a venture of AGI Capital Group Inc, TMG Partners and Joie de Vivre Hospitality, is called Som...
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• LA Group Closes on $32 Mil Phoenix Apartment Buy
11/02/05
An investment partnership managed by Newport Beach-based WLA Investments closed on a $32 mil Phoenix apartment buy. The acquisition was of the La Palma Apartments, a 548-unit ($58.4k/unit) complex at 220 West Bell Rd. The sel...
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• Investor in Nestor Spends $30 Mil on Apartment Complex
11/01/05
The Playa Blanca apartment complex, a 161-unit property in the Nestor section of San Diego, south of National City, sold for $30.3 mil ($188k/unit). It is located at 1910 and 1905-1979 Avenida del Mexico, just west of I-5 off...
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• Multifamily Briefs
10/31/05
MISSION VALLEY (San Diego County) – Archstone-Smith paid $28.6 mil for the Oakwood Mission Valley Apartments, a 170-unit ($168.2k/unit) complex on about eight acres at 425 Camino Del Rio South. The property consists of 58 one...
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• Renting Continues to Be a Smart Move
10/28/05
By Carline Latham, CEO
RealFacts
On a national basis, apartment rents have remained flat, or gained slightly in selected markets, while occupancy levels have stayed flat or declined. In fact, according to a third quarter sur...
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• September Home Prices in CA Up 17.3% from Previous Year
10/27/05
The median price of an existing home in California increased 17.3 percent in September and sales increased 3.9 percent compared with the same period a year ago, according to the most recent data from the California Associatio...
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• Financing Notes
10/24/05
NorthMarq Capital Inc has arranged financing of $104.8 mil for a condo conversion project at the Villages of La Mesa, located at 5606-5672 Amaya Dr, between Fletcher Pkwy and I-8 in La Mesa. The development, which consists of...
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• Corporex Takes a Holiday Inn Vallejo
10/21/05
Corporex Select Service Hotels, a Cincinnati-based financial investment and services entity, has acquired the 170-room Holiday Inn Napa Valley Gateway for $8 mil ($47k/room) in Vallejo. The property is located at 1000 Fairgr...
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• Bascom Looks to the Horizon
10/20/05
The Bascom Group, the active OC-based apartment investment firm, has recently closed on a sizable asset in Colorado, after paying $24.4 mil for Four Horizon Apartments, a 420-unit ($57.9/unit) complex at 14304 E. Tennessee Av...
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• Multifamily Briefs
10/19/05
DOWNTOWN LOS ANGELES (Los Angeles County) -- Houston-based The Hanover Company has acquired a site at 717 Olympic Blvd, at the northeast corner of Olympic and Figueroa, for the development of a 26-story residential high-rise ...
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• Hancock Park Apartment Sale Gets to the Core
10/18/05
Core Asset Management Group has acquired The Hermoyne apartment building, a 70-unit property at 569 N. Rossmore Ave, between Beverly Blvd and Melrose Ave in the heart of LA's Hancock Park area. The seven-story, 75.7k sf prope...
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• Multifamily Sales Comps
10/17/05
HOLLYWOOD/KOREATOWN (Los Angeles County) – Mill Valley-based Montgomery Partners paid $24.275 mil for a portfolio of six apartment properties in LA's Hollywood/Koreatown/Mid-Wilshire areas. The acquisition totaled 285 units w...
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• West Coast Multifamily Briefs
10/14/05
SAN MARCOS (San Diego County): The Highlands, a 120-unit apartment complex located at 830 S. Rancho Santa Fe Rd, was purchased for $22.4 mil ($186.7k/unit) by 830 RSF Road LLC, which plans to convert the property into condos....
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• Archstone-Smith Closes on a Premiere $112 Mil SoCal Apartment Buy
10/13/05
Archstone-Smith, the big Colorado-based apartment REIT, has closed on a two-property apartment buy from PCS Development in a deal worth $112.35 mil. The two garden-style properties, part of PCS Development's Premiere portfoli...
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• CA Affordability Drops to 14% in August
10/12/05
The percentage of households in California able to afford a median-priced home continues to drop, with the August figure coming in at just 14 percent, a 4 percentage-point decrease compared with the same period a year ago whe...
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