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• SoCal Sales Review
8/04/06
POINT LOMA (San Diego County) – Villa Point Loma, a 43-unit apartment property at 3742-3788 Curtis St, was purchased by the Lattimer Family Trust, out of La Jolla, for $10.25 mil ($238.4k/unit). Built in 1964 by the seller, t...
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• Multifamily Briefs
8/04/06
DALLAS, TX (Dallas County) -- Passco Companies LLC, the SoCal-based T-I-C investment firm, has acquired The Towns of Riverside, a 436-unit, luxury apartment complex. The asset, which consists of 59 two-story buildings plus a ...
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• Financing Notes
8/03/06
Fremont Investment & Loan, the Santa Monica-based subsidiary of Fremont General Corporation provided $215 mil in construction financing for development of Nexus Companies' “Skyline at MacArthur Place”. The development is a 24...
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• Res Condo Market at Wilshire and Western Energized by Solair Power
8/02/06
It looks like the intersection of Wilshire Blvd and Western Ave in LA's Mid-Wilshire district is going to get a little busier, as a new residential tower project is about to get underway. The $160 mil transit-oriented mixed-u...
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• Apartment Occupancy Continues to Climb
8/01/06
While the home buying market may be cooling down, the rental market is heating up, as second quarter data released by RealFacts on July 15 reveals increased occupancy across all but one of the 29 major MSAs that the well-rega...
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• Inland Empire Apartment Community Trades for $26 Mil
7/31/06
Osage Tower LTD has purchased the 228-unit Crest apartment community in the Inland Empire community of Grand Terrace for $26.5 mil, or about $116.2k/unit. The asset was sold by Kennedy Wilson Multifamily Group, a division of ...
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• Multifamily Briefs
7/28/06
SPRING VALLEY (San Diego County) – A Mission Viejo-based investment entity has paid $18.5 mil for Spring Villas, a 136-unit complex located at 8760 Jamacha Rd, near I-8 and Hwy 94 in Spring Valley, an unincorporated communit...
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• June CA Home Prices Up 6.2% from 2005, but Sales Drop 26.3%
7/27/06
Although it seems that the majority of economists and real estate industry experts tend to feel that the residential real estate boom is over and that the upperhand is now with prospective home buyers, the median price of an ...
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• Record $238 Mil Vegas Seniors Portfolio Sale is a Carefree Deal
7/26/06
In what is reportedly the largest multifamily sale in Nevada's history, a portfolio of nine active senior communities in the Las Vegas area was purchased by an Orion Residential-led venture for $238.9 mil. The deal, which con...
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• Passco Acquires Pair of Houston Apartment Properties
7/25/06
Passco Companies, the Irvine-based tenant-in-common (TIC) investment firm which has been very active in the retail sector, has acquired two luxury apartment complexes in the greater Houston area totaling 537 units. The proper...
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• Core Realty Picks up 2,400 Units in North Carolina and Virginia
7/24/06
In more news of CA investors going east, Newport Beach-based Core Realty Holdings LLC acquired a 2,400-unit multifamily portfolio located in North Carolina and Virginia. The assets were sold by another OC-based entity, Real E...
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• Kennedy Wilson Invests $46 Mil in Anaheim Apartment Complex
7/21/06
Kennedy Wilson Multifamily Management Group (KW Multifamily) has purchased Vista Pointe, a 286-unit apartment community located at 175-225 S. Rio Vista St, east of the 57 Fwy and north of Lincoln Ave in the city of Anaheim. T...
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• Strong Demand Expected to Keep LA Apartment Market Humming Along
7/20/06
Despite considerable new construction, the Los Angeles apartment market is expected to post lower vacancy and higher rents, due to robust tenant demand, according to a recent research report by Marcus & Millichap Real Estate ...
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• Nexus' OC Project the Tallest Res Development in Airport Area
7/19/06
Nexus Development is underway with Skyline at MacArthur Place, a new high-rise residential tower project at the corner of Jamboree and Michelson, in Orange County's Airport area. The project, which is comprised of two, 25-sto...
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• Private Investor Spends $38 Mil on Anaheim Apartment Complex
7/18/06
A private investor has purchased Silver Pines Apartments, a 261-unit apartment complex located at 801 North Loara St, south of La Palma Ave and east of Euclid St in Anaheim. The property sold for $38.65 mil, or about $148.1k/...
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• Multifamily News
7/13/06
LOS ANGELES (Los Angeles County) – ARCS Commercial Mortgage closed on $7 mil in financing for the Kingsley Drive Towers, an 83-unit multifamily property in the Wilshire/Westlake area of the city. Built in 1988, the garden-sty...
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• Opal Partners on a Mission in Central California
7/11/06
Westlake Village-based Opal Capital Partners plans to develop a 100-unit market rate multifamily housing development in the city of Tulare, in Central California. Called Mission Trails, the $15 mil project is located on a ful...
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• Multifamily News
7/10/06
WESTCHESTER (Los Angeles County) – A residential development site of just over an acre at 7401-7425 S. Sepulveda Blvd was purchased by Sovereign Properties III LLC for $4.725 mil. The site includes a vesting tentative tract m...
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• Hollywood Conversion Project Underway
7/07/06
Palisades Development Group has begun conversion work on a historic 124k sf building at the northeast corner of Hollywood and Vine Streets in Hollywood. The former office property, known as the Equitable Building, is being co...
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• New 320-Unit Res Project Opens in Moreno Valley
7/06/06
A new 320-unit gated residential community in Moreno Valley has officially opened to the public. The 18-acre development, called Ridgeview, is at 25335 Alessandro Blvd, in one of the city's most central locations. Developed b...
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