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December 5, 2023
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MULTIFAMILY NEWS
Archive
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• Local Investors Looking to Be Pioneers in Glendale
5/21/03
LA-based Pemberton Partners bought Pioneer Place Apartments, a 36-unit complex at 433 Pioneer Dr, between Central and Pacific Aves, just one block south of the 134 Fwy in Glendale. The buyer, looking for a long-term hold, pai...
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• Madison does Multifamily
5/19/03
The multifamily division of West LA-based Madison Partners has been busy brokering some noteworthy apartment sales so far this year. As an example, in the first quarter of this year Madison's Darin Beebower wrapped up the sal...
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• San Diego Apartment Market Continues to Set Records
5/14/03
A recent report from Burnham Real Estate Services shows that the average per-unit selling prices of San Diego County apartments hit an all-time high of $101,544 in 2002, a 39.7 percent increase over $72,693 in 2001 and more t...
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• May 13, 2003 - Sares-Regis to Apply a Little Hollywood Magic to Hawthorn Apartment Complex
5/13/03
Irvine-based Sares-Regis Group closed on a substantial investment in Hollywood, after paying $15.86 mil for the Sunbelt Hawthorn Apartments, a 99-unit ($160k/unit) multifamily complex at 7320 Hawthorn Ave. Located within walk...
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• SoCal Apartment Sales
5/12/03
ALPINE (San Diego County) United Development Inc paid $4.45 mil for Alpine View Apartments, a 33-unit ($134.8k/unit) complex on 226 acres at 2616 Alpine Blvd, west of South Grade Rd and south of the I-8. Boasting a park-lik...
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• Multifamily Notes
5/09/03
SACRAMENTO - LA-based Sonnenblick-Eichner has arranged $16.75 mil in long-term fixed-rate financing for The Grove at Sunrise Apartments, a 206-unit luxury apartment complex in Citrus Heights, a suburb of Sacramento. Construct...
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• New York Firm Pays $17 Mil for Summer View in Sherman Oaks
5/08/03
A San Fernando Valley apartment property just sold for $17 mil, as The Praedium Group LLC, out of New York, purchased the Summer View Apartments, a 169-unit ($100k/unit) property ay 15353 Weddington St in Sherman Oaks. The co...
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• May 5, 2003 - San Diego Apartment Investors Head to the Ballpark
5/05/03
Investors recently made a couple of $9 mil apartment buys in San Diego County, one in Chula Vista and the other in San Diego's downtown. In the downtown deal, Richard Jones and Lavonda Lee Jones, as trustees of a trust, paid...
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• Financing Notes
5/02/03
ARCS, the big Calabasas-based multifamily lender just let us know about a number of smaller financings they've wrapped up on apartment properties throughout the state. For those of you who like to keep up with the numbers fro...
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• CA Apartment Sales Review
5/01/03
HIGHLAND (San Bernardino County) Reza Ghaffari of Marcus & Millichap represented the buyer and the seller in the $1.95 mil ($44.3k/unit) purchase of the Sterling Villa Apartments, a 44-unit complex at 7832-7838 Sterling Ave...
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• Multifamily Briefs
4/29/03
PACIFIC BEACH (San Diego County) Crown Point Properties paid $2.22 mil for the 12-unit ($185k/unit) Crown Point Court Apartments, located at 2049-2061 Oliver Ave, a couple of blocks east of Lamont St. The 43-year-old two-st...
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• Great Lakes to Set Sail on Historic Hillview Apartment Project in Hollywood
4/28/03
Proclaiming that glitz and glamour have returned to Hollywood this week, the developers of the historic Hillview Apartment building, once the premiere residence for film stars, hosted a ground-breaking ceremony this past Thur...
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• 141-Unit Reseda Apartment Property Sells for $10.5 Mil
4/24/03
Here's another meat and potatoes SoCal apartment deal, as a private investor paid $10.53 mil for the Villa La Paloma Apartments, a 141-unit ($74.7k/unit) complex at 7722 Reseda Blvd, between Saticoy and Strathern Streets in t...
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• Apartment Investor Pays $5 Mil for Place in the Sun
4/23/03
Tramontana Group paid $4.95 mil for Villa Del Sol, a 56-unit ($88.4k/unit) complex located at 3225 Long Beach Blvd, just south of the 405 Fwy between Wardlow Rd and Spring St in Long Beach. Built in 1988, the Villa Del Sol c...
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• Archstone-Smith Dives into Santa Monica Beach Apartment Market
4/22/03
Archstone-Smith, the Colrado-based apartment REIT, closed a $57.5 mil acquisition of an apartment portfolio consisting of three complexes in the Westside city of Santa Monica. Located at 425 Broadway, 1455 4th St and 1915 Oc...
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• UTC Seniors Complex Sells for $58 Mil
4/18/03
University City Village, a 542-unit seniors apartment complex near the University Towne Centre area in San Diego County, traded hands for $58.4 mil, or about $107.7k/unit. The buyer was an unnamed San Diego-based family trust...
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• Phoenix Realty to Oversee Genesis Workforce Housing Fund in L.A.
4/15/03
The critical need for moderate-income workforce housing in urban infill areas of Southern California is about to be given some serious attention, with the formation of a Los Angeles office of New York City-based Phoenix Realt...
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• Multifamily Briefs
4/14/03
OAKLAND (Alameda County) - The Related Cos of Irvine and the East Bay Asian Local Development Corp, a local nonprofit, bought the Noble Tower Apartments in Oakland's Lake Merritt area for just over $19 mil. The 195-unit ($97....
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• Judge Upholds Ruling Against Casden
4/11/03
The LA Times main real estate reporter now, Roger Vincent, reported this past Saturday that federal U.S. District Judge Dean Pregerson last Thursday upheld the jury verdict against Alan Casden and others in favor of former in...
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• CB Duo Brokers $2.6 Mil 1031 Exchange Acquisition in Anaheim
4/08/03
A Newport Beach private investor paid $2.6 mil for a 24 unit ($108.3k/unit) Anaheim apartment complex at 203 South Ohio St, south of Lincoln Ave and east of I-5, as part of a 1031 tax-deferred exchange. The 15-year-old proper...
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