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• Ironwood Lassos Longhorn Pavilion Apartments
3/18/05
Encino-based Ironwood Management purchased a 304-unit Palmdale apartment complex at 36523 25th Street East for $20.3 mil ($66.8k/unit). Called the Longhorn Pavilion Apartments, the property was sold by an investment partnersh...
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• New Luxury High-Rise Condo Project in Irvine Breaks Ground
3/17/05
Construction of a major new high-rise residential project in Irvine is now underway, as The Plaza-Irvine broke ground a few days ago. Developed by OWR Development Inc, an affiliate of Phoenix, AZ-based Opus West Corporation, ...
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• Palm Springs Resort Sells for $8 Mil
3/16/05
Here's an update on a couple of deals from the Inland Empire resort areas of Palm Springs and Desert Hot Springs. In the larger deal, an entity called O&M LLC paid $8 mil for La Mancha Private Villas and Resort, located at 44...
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• Intergulf Acquires 55k sf Downtown San Diego Site for Condos
3/15/05
Intergulf Development, in three separate transactions, has purchased three parcels totaling 55k sf of land in downtown San Diego for a total of $14.9 mil, or an average of $271/sf. The site covers an entire block bounded by ...
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• Santa Monica Firm to Develop Pair of Mixed-Use Projects in North Hollywood
3/14/05
JSM Construction, a Santa Monica-based developer, has acquired four separate land parcels in North Hollywood with a combined 92.7k sf. The parcels were purchased from private investors and had a total price of $9.1 mil ($98/s...
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• Bay Area Investors Take 17-Mile Drive
3/11/05
A Bay Area investor acquired the Seventeen Mile Drive Village Apartments, an 84-unit property in Pacific Grove, a charming coastal community just north of Carmel in Northern California. The complex is situated along the landm...
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• Archstone-Smith Moves into Oakwood Apartments
3/10/05
In big news from last week, Archstone-Smith (NYSE: ASN), the big Denver-based apartment REIT, reached an agreement to acquire 30 apartment communities from Oakwood Worldwide, out of LA, in a deal valued at $1.4 bil. The acqui...
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• San Francisco Apartment Complex Sells for $1.2 mil/Unit
3/09/05
A San Francisco apartment building traded hands at a staggering price of $1.2 mil per unit. The property, The Park Lane apartments on Nob Hill, contains 33 units and sold for $38 mil. It was acquired by the Lembi family, out ...
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• Passco Loves Courtney
3/08/05
Passco Real Estate Enterprises, the Orange County-based Tenant-In-Common investment firm, closed on a $38 mil buy of Courtney Village at Papago Park, a gated, luxury apartment complex located at 4848 E. Roosevelt in Phoenix, ...
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• Hutton to Break Ground on 240-Unit Apartment Project in Upland
3/03/05
Orange County-based Hutton Development Company is set to break ground this month on a new upscale, 240-unit apartment community in the city of Upland – one of only three multi-family developments approved by the city since th...
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• SoCal Multifamily Deal Briefs
3/02/05
SAN DIEGO (San Diego County) – A California limited liability company paid $7.75 mil for a 23-unit ($337k/unit) complex at 3645 Seventh Ave. Built in 1986, the four-story building contains 29k sf of space. Keith Courtney and ...
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• LA-Area Apartment Sales
3/01/05
HOLLYWOOD – Consolidated Title Services, out of Sausalito, paid $13.57 mil for the Wilcox Apartments, a 102-unit ($133k/unit) complex at 1750 N. Wilcox Ave, north of Hollywood Blvd. The three-story building was built in 1987 ...
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• Multifamily Briefs
2/28/05
LAS VEGAS (Clark County) -- A rare high-rise development site in Las Vegas just ˝ mile off the Strip has been put on the market. Located at 713 E. Sahara Ave, this 13.16-acre parcel currently contains a 200-unit residential c...
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• Revere Rides into Inland Empire Market with $26 Mil in Acquisitions
2/24/05
Cerritos-based Revere Investments LLC recently closed on a pair of Inland Empire apartment properties with a combined 244 units and a total price of $26.4 mil ($108.2k/unit).
One of the properties was Mountainside Village A...
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• Multifamily Briefs
2/23/05
PANORAMA CITY (Los Angeles County) – Village Green Apartments, a 201-unit multifamily complex at 9010 Tobias Ave, sold for $19.2 mil ($95.5k/unit). The Class B community was constructed in 1972 and consists of 50 studios, 103...
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• Classic SF Building Musto Been a Good Buy at $7.25 Mil
2/22/05
Jackson Square Partners, a local development entity led by Douglas Rosenberg, has acquired the 32.4k sf Musto Plaza in San Francisco for $7.25 mil ($224/sf). Rosenberg plans to convert the historic building, located at 717 Ba...
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• SCI Gambles $41 Mil at Bellagio
2/18/05
LA-based SCI Real Estate Investments purchased “Bellagio at Bent Tree,” a 500-unit luxury apartment community in North Dallas, TX, for $41 mil ($82k/unit) on behalf of a tenant-in-common group (TIC) with 23 investors. The pro...
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• Phase II at CIM Group's South Village to Get Underway
2/17/05
The second phase at South Village, the exciting mixed-use project being developed by CIM Group in Downtown LA's South Park area, is about to get underway. Under a revised plan, the 7.2-acre site will contain 267 condominiums ...
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• Archstone-Smith Up an Oak Creek in Agoura Hills
2/16/05
Archstone-Smith, the Denver, CO-based apartment REIT, has acquired Oak Creek Apartments, a brand-new 336-unit luxury multifamily complex in the Conejo Valley community of Agoura Hills, for $99.6 mil ($296.4k/unit). Oak Creek ...
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• SF Valley Apartment Buyer Sees a Lot of Upside in $8 Mil Purchase
2/15/05
Jade Pacific Investments acquired Valerio at Reseda, a 58-unit apartment complex for $8.35 mil ($144k/unit). The property, located at 18445 W. Valerio St, east of Reseda Blvd and north of Sherman Way, was sold by Calabasas-ba...
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