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Eight-Property LA Apartment Portfolio Listed at $69 Mil 10/19/06 Urbatec is marketing an eight-property apartment portfolio totaling 812 units throughout the LA area. The portfolio is being offered for $68.75 mil, or about $84.7k/unit.
The marketing assignment for the portfolio was awar...
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Northwest News 10/18/06 SEATTLE, WA -- Sonnenblick-Eichner Company has arranged $28 mil of first mortgage financing for the Hotel Andra located in downtown Seattle. The financing is a 10-year fixed rate loan priced in the low 100 basis point range ...
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Redwood City Investor Nabs Four LA-Area Apartment Buildings 10/17/06 JB Matteson Institutional Capital Partners LLC (JB Matteson) has acquired four apartment buildings, with a combined 199 units, in LA's Mid-Wilshire area for $22 mil ($110k/unit). The properties were acquired as part of a valu...
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New Project to Add 68 Res Units for the Commons Folk in Monrovia 10/13/06 Pacific Coast Capital Partners and Colorado Commons, LLC – a joint venture between Barker Pacific Group and Argosy Investors LLC –have formed a joint venture for the development of Colorado Commons at Old Town, a mixed-use pr...
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SoCal Apartment Comps 10/12/06 ALHAMBRA (Los Angeles County) – The Karyn Trust, out of Los Angeles, paid $1.25 mil for San Marino Vista, a 10-unit ($125k/unit) apartment building at 200-202 N. Huntington Dr. This was the first time that the property traded...
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Ratkovich Gets City Approval to Add Res Condos at The Alhambra 10/11/06 The Alhambra City Council has unanimously approved plans by The Ratkovich Company (TRC) to build a 351-unit residential condo project on the northeast corner of its office campus known as The Alhambra. This housing component ...
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New Phoenix Apartment Complexes Become Part of Mid-America 10/09/06 Here's a look at a few recent apartment sales from Arizona, all of which were brokered by Hendricks & Partners, the national multifamily brokerage firm. These latest transactions occurred in Phoenix and Tucson.
In the larges...
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Bascom's Arizona Ventures Picks Up Another 1,500 Units in Tucson Area 10/05/06 Bascom Arizona Ventures LLC has just acquired a seven-property, 1,566-unit apartment portfolio located in Arizona for a total cost of $62.5 mil, or roughly $39.9k/unit. Six of the properties are in Tucson, while the remaining...
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Property Management Notes 10/04/06 Western National Property Management has been awarded the leasing and management responsibilities for the Visconti, G.H. Palmer Associates' newest luxury apartment complex in Downtown Los Angeles. Located at 1221 West Third S...
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Construction Underway at New Continuing Care Development 10/03/06 Construction has begun on the free-standing villa residences at University Village Thousand Oaks, a new continuing care retirement community. The project is located at 3350 Campus Dr in Thousand Oaks, on the northwest corner...
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Multifamily Activity Update 10/02/06 INDIO (Riverside County) – Sol Rabin of Griffin Properties purchased the Andorra Apartments, a 186-unit community at 81720 Avenue 46, near Hwy 111. The asset contains only two-bedroom units, situated in 14 three-story buildin...
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Turnberry to Build Upscale Res Tower on San Francisco's Rincon Hill 9/29/06 South Florida-based Turnberry Associates has acquired a site at 45 Lansing St in Rincon Hill, near First and Harrison Streets in San Francisco's SOMA district, for the development of a glitzy 305-unit condo development estima...
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Montgomery Partners Stocks Up in Stockton 9/28/06 Montgomery Partners purchased the Venetian Bridges Apartments, a 354-unit apartment community at 2244 Rosemarie Ln, south of March Lane and east of I-5 in the city of Stockton. At a price of $34 mil, or $96k/unit, the transac...
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Ontario Town Square Breaks Ground in City's Redeveloping Historic Core 9/28/06 The City of Ontario and J.H. Snyder Company, the prolific LA-based developer, have teamed up in the development of a new mixed-use project within Ontario Town Square, the 12-square-block planning area, bordered by Euclid Ave,...
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CA Home Sales Drop 30% in Biggest Year-to-Year Decline since Aug ‘82 9/27/06 California home sales decreased 30.1 percent in August compared with the same period a year ago, while the median price of an existing home increased 1.6 percent, according to the latest figures from the California Associatio...
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Real Estate Partners Makes $87 Mil San Clemente Multifamily Buy 9/27/06 Irvine-based Real Estate Partners has purchased Seacrest Apartment Homes, a 368-unit luxury apartment community located at 240 Avenida Vista Montana, south of Calle Del Cerro and east of I-5 in San Clemente. The property was ...
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Mozaic Adds to the Housing Tapestry of Downtown LA 9/26/06 Pre-leasing has begun for Mozaic, a new luxury for-lease apartment community located at Alameda St and Cesar Chavez Ave, adjacent to the historic Union Station in downtown Los Angeles. The project, a development of Lincoln Pr...
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Private Investor Likes to Tango in Vegas 9/25/06 The Tango Condominium Homes, a 136-unit apartment community in Las Vegas, was purchased by a private investor for $17.3 mil ($127.2k/unit). The 117.6k sf property, located at 6570 W. Flamingo Dr, was sold by Tango Condominium...
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KDF Spends $75 Mil on 691 Units in San Jose 9/22/06 Newport Beach-based KDF Communities has acquired four multifamily properties totaling 691 units in the city of San Jose for a total of $74.6 mil ($110k/unit). KDF plans to invest an additional $13.2 mil in the properties as p...
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DBN to Redevelop Santa Barbara Site into Live/Work Artisans' Building 9/21/06 Laguna Hills-based DBN Development LLC has acquired an industrial building at 116 East Yanonali St in Santa Barbara, for redevelopment into a live/work building where artisans and entrepreneurs can purchase space. The buildin...
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