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• Financing Notes
4/07/03
Newport Beach-based Buchanan Street Partners has provided both equity capital and debt financing for the acquisition of Baywood Apartments, a 128-unit apartment complex in Antioch that was just purchased by a Bay Area investo...
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• Stowe Passco Stows Away $10 Mil from Development Site Sales
4/04/03
Stowe-Passco Development has completed the sales of additional residential development sites, in three deals with a combined value of about $10 mil. One of the transactions was for a 229-lot residential subdivision located we...
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• Clarion Clarifies the National Apartment Market in Recent Study
4/03/03
Here's a quick summary of the latest study on the national apartment market, provided by Clarion Partners, in which they predict a rebound in both occupancy levels and rents. Keep in mind, this study is an overview of the ent...
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• Revere Rides into Whittier Apartment Complex
4/02/03
A private partnership managed by Cerritos-based Revere Investments LLC paid $3.5 mil for a modern, 36-unit ($97.2k/unit) apartment complex at 10350 Santa Gertrudes Ave, south of Whittier Blvd, in an off-market transaction. Th...
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• San Diego Remains Near Top of National Study on Apartment Industry
4/02/03
For those of you who like to keep up on the latest research studies about the apartment industry, Marcus & Millichap Real Estate Investment Brokerage Company recently released its National Apartment Index (NAI), which ranks S...
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• CA Apartment Sales Hat Trick
4/01/03
SHERMAN OAKS (Los Angeles County) - Praedium Group, a NY-based investment firm, closed on a San Fernando Valley apartment complex after paying $17 mil for the Summer View Apartments, a 170-unit ($100k/unit) property at 15353 ...
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• Multifamily Briefs
3/26/03
SPRING VALLEY (San Diego County) – An investment entity called VCDO LP acquired a 60-unit apartment complex at 3860 Helix St, east of Bancroft Dr between Kenwood Dr and the 94 Fwy. The seller, RK Multifamily Income Fund VI LL...
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• Acacia Capital Makes $48.5 Mil Acquisition of Tustin Apartment Property
3/25/03
San Mateo-based Acacia Capital Corp has purchased the Villas at Tustin, a 406-unit apartment community at 2414 North Tustin Ave, north of Santa Clara Ave in Santa Ana. Acacia paid $48.5 mil ($119.5k/unit) for the complex, whi...
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• Financing Notes
3/25/03
We've got more California closings to report from ARCS Commercial Mortgage, the big Calabasas-based multifamily lender. Here's the latest collection of deals:
$3.1 mil for the Sandpiper Apartments, an 80-unit property in Sac...
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• Whittier Apartment Property Sells for $11.35 Mil
3/21/03
A 135-unit Whittier apartment property traded hands between two local SoCal private investors. Known as Villas Los Pinos, the property sits on nine contiguous sites and sold for $11.35 mil, or $84.1k per unit. Built in 1959, ...
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• Multifamily Briefs
3/18/03
SANTA CLARITA (Los Angeles County) – KB Home paid about $15 mil for 84 single-family lots within Tesoro del Valle, a highly amenitized, master-planned community of about 1,000 homes at the northern end of Santa Clarita. The c...
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• March 17, 2003 - Cottage Industry
3/17/03
John H. Olson Family Limited Trust sold Cottage Square Apartments in Sacramento to private investor Alegria Hipalito for $1.73 mil. Carl Greenhalgh and Walter Helm of Sperry Van Ness represented the trust, while Escober repre...
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• Fountain Glen Acquires 6.5 Acres in Valencia
3/13/03
The Valencia Company sold another small chunk of Santa Clarita for new residential development, as Fountain Glen Properties paid $6.8 mil for 6.5 acres ($24/sf) of vacant land at the northeast corner of Sunny Creek Dr and DeC...
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• Investors Spend $7.65 Mil for POTLOC Offering in Alhambra
3/11/03
Private investors Jack Varma and Ahmed Hassan paid $7.65 mil for Jade Gardens, a one-building, 78-unit ($98k/unit) apartment community located at 109 S. Almansor Street, between Main St and Mission Rd in Alhambra. Built in 19...
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• Sares-Regis Gets Square Deal in LA's Mid-Wilshire Area
3/10/03
Irvine-based Sares-Regis Group, along with financial partner Invesco Realty Advisors, recently wrapped up an investment in LA's Mid-Wilshire District, having paid $15.4 mil ($108.5k/unit) for the Virgil Tower and Virgil Squar...
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• Multifamily Briefs
3/07/03
BEVERLY HILLS (Los Angeles County) – A development group is eyeing Hustler Magazine publisher Larry Flynt's 207k sf office building at 8484 Wilshire Blvd for conversion to a hotel or condo project. According to a recent piece...
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• J.H. Snyder to Develop $40 Mil Mixed-Use Project in Beverly Hills
3/06/03
J.H. Snyder Company, one of LA's most prolific developers, is about to move forward with an exciting new mixed-use development in Beverly Hills, which will include the first new apartments to be built in the city in 21 years....
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• SoCal Investor Kan Buy Pasadena Apartment Complex
3/04/03
SoCal-based Kan Investments LTD LLC closed on the purchase of a Pasadena multifamily complex, having paid $10.6 mil for the Waterstone at Pasadena Apartments. Containing 84 units ($126.2k/unit), the property is at 110 El Nido...
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• Residential Builders Stowe Away More Riverside County Sites
2/28/03
Here's a little bit of good news for SoCal's undersupplied residential markets, as Stowe-Passco Development (SPD) has just sold three residential development sites in separate deals, with a combined value of about $10 mil. Al...
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• OC Investors Star in Their Own Melrose Place
2/27/03
Here's a quick review of a few recent apartment sales from two of SoCal's busiest regions, San Diego and Orange Counties. We'll lead off with the Orange County deals, first in Buena Park, as a pair of local investors paid $4....
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