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Multifamily Briefs 11/18/04 STANTON (Orange County) – John Walsh of Marcus & Millichap has the listing for Arrowhead Apartments, a 168-unit garden-style community at 12381 Arrowhead St. The property, which has an asking price of $24.5 mil ($145.8k/unit)...
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DDR to Add Extended Stay Hotel at the Pike at Rainbow Harbor 11/17/04 In another boost to waterfront redevelopment efforts in Long Beach, Kansas-based LodgeWorks LP has agreed to open a 97k sf Sierra Suites “extended stay hotel” at the Pike at Rainbow Center, the 369k sf retail/entertainment co...
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Hammer Nails another Big San Diego Condo Conversion 11/16/04 Condomania continues to overtake investors and developers across San Diego County, as we've got three more sizable conversion projects to report, in Oceanside, Carmel Valley and in the Normal Heights part of the city of San D...
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Borrowers Find ARCS is a Straight Path to Multifamily Funding 11/15/04 Calabasas-based ARCS Commercial Mortgage recently financed a $62 mil portfolio made up of five properties, totaling 705 units, in the San Francisco Bay Area and in Washington State. The loans were secured through Fannie Mae's...
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SNK's Latest Development to Add 125 New Homes to the East Bay 11/12/04 SNK Realty Group just opened its most recent Bay Area development -- Andante Emeryville, which will contain a total of 125 one- and two-bedroom homes, when completed. Construction is nearly finished on Phase I, which represen...
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Busy Bascom is Sleepless in Seattle 11/11/04 Bascom Northwest Ventures LLC, an affiliate of Irvine-based Bascom Group, nabbed another large Seattle-area apartment property, having paid $37.3 mil for the Nettleton Apartments, a 351-unit ($106.3k/unit) high-rise in downto...
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The RealFacts Behind United Dominion's $756 Mil Portfolio Buy 11/09/04 United Dominion Realty Trust's $756 mil purchase of 16 garden-style properties in California and Oregon last September ranks as one of the largest transactions of its kind in the region. As RENTV reported at the time, the pro...
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12-Unit La Jolla Complex to be Converted to Condos 11/08/04 A California limited partnership acquired a La Jolla apartment complex, with plans to convert the 12-unit property into a condo project. The complex, known as Villa Marine Apartments, is located at 525 Marine St, just west of...
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Multifamily Briefs 11/05/04 VISTA (San Diego County) – A San Diego private investor paid $15 mil for Vista Village, a 136-unit ($110.3k/unit) complex at 667 F St. Built in 1973, the property sits on 4.24 acres and contains 64 one-bedroom units and 72 tw...
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Eagle Eyes Vegas Market After $82.5 Mil Portfolio Buy 11/04/04 Eagle Real Estate Group, an Orange County-based apartment investment firm, has just wrapped up a major acquisition in Las Vegas, having purchased “The Springs Portfolio.” The acquisition, which consists of three apartment com...
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Irvine Office Buildings Razed to Make Way for Multifamily Development 11/03/04 The trend of switching uses from commercial to multifamily is picking up steam in the OC as Legacy Partners acquired a pair of Irvine office buildings, which they've already demolished to make way for a new 250-unit multifami...
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San Diego County Multifamily Sales 11/02/04 A La Jolla buyer paid $9.5 mil for LakeView Park Apartments, a 72-unit ($131.9k/unit) property at 9085-9195 Mast Blvd, east of Fanita Pkwy in Santee. The property was built in 1985 and sits on 2.62 acres. The buyer, William S...
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Financing Notes 10/29/04 PW Funding Inc. (“PWF”), a subsidiary of CharterMac (AMEX: CHC), has provided mortgage financing of $17.5 mil for Park Palomar, a 476-unit apartment complex on almost 22 acres at 244 Palomar St in Chula Vista. Built in 1964, ...
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Apartment Rents Show Slight Increases During 3rd Quarter 10/28/04 By William Ktsanes, Director of Research and Analysis
RealFacts
Each quarter RealFacts surveys the rents, occupancy and ownership of over 10,500 multifamily properties in more than sixty metropolitan areas. In third quarter...
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Multifamily Briefs 10/27/04 CANOGA PARK (Los Angeles County) – A SoCal-based private investor paid $16.55 mil for Canoga Island Village, a 160-unit ($103k/unit) garden-style apartment community 8838 Independence Ave in the West San Fernando Valley. Buil...
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Bay Area Apartment Values on the Rise 10/26/04 The apartment market in San Francisco Bay Area is expected to post solid gains in the coming year, as the local and national economies gain steam and job growth intensifies, according to a recent report from Marcus & Millicha...
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Financing Notes 10/25/04 Holliday Fenoglio Fowler LP (HFF) has arranged a $25.5 mil bridge loan along with $1.1 mil in mezzanine funds for capital improvements to Silver Pines Apartments, a 261-unit multifamily community in Anaheim. HFF's David Bleiw...
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October 22, 2004 - Trends in Apartment Construction 10/22/04 Here are some interesting facts and figures about current trends in apartment development, provided to us by the folks at RealFacts.
• Southern California is still the hot spot for developers. Nearly half of all the new apa...
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SCI Bags the Biggest Deer in Arizona History 10/21/04 SCI Real Estate Investments, the West LA-based real estate investment firm, purchased an 832-unit apartment complex in Phoenix, AZ from Archstone Smith. Called Deer Valley Village Apartments, the property is 94% occupied and ...
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Financing Notes 10/20/04 Holliday Fenoglio Fowler LP (HHF) recently arranged financings totaling $36 mil for two Northern California multifamily communities: Carmel at Woodcreek West in Roseville and Tallyho Village Apartments in Sacramento. Don Curt...
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