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Financing Notes 8/23/04 Los Angeles-based real estate banking firm George Smith Partners (GSP) has secured a $17 mil construction loan on the first office-to-loft conversion project in Los Angeles' Miracle Mile area, a 45k sf, 1961 steel-frame build...
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Financing Notes 8/20/04 Buchanan Capital Advisors has arranged a $25 mil construction loan for Del Rey Club, a 203-unit luxury apartment development in the West LA community of Playa del Rey. Palos Verdes Developers, the borrower, was already under...
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The Transit Village to Open in LA's Koreatown District 8/19/04 MacFarlane Partners and Urban Partners LLC have teamed up in a venture to develop Wilshire Vermont Station, a mixed-use “transit village” to be constructed above an existing MTA Metro Red Line underground rail station in the ...
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$7.5 Mil Oceanside Apartment Sale is a Breeze 8/18/04 In this report we'll cover a trio of recent San Diego County apartment sales, the largest of which was in the northern county community of Oceanside, where a private investor paid $7.55 mil for a 72-unit ($104.9k/unit) comple...
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Hemet Apartment Buyers are Whispering about Latest $10 Mil Deal 8/17/04 A 144-unit apartment complex in the Inland Empire city of Hemet sold for $10.4 mil, or about $72.2k/unit. The property is the Whispering Apartments, located on 5.5 acres at 201 S. Yale St. It was built in 1969 and consists of...
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August 16, 2004 - Controversial Westside Projects Moving Forward 8/16/04 Over the past couple of months two very controversial projects on the Westside passed major hurdles, enabling them to move forward. In Westwood, what had been a long, protracted battle between community activists and develope...
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O'Donnell/Atkins Lands more Big Land Deals 8/13/04 In this report we'll take a look at some of the latest deal news from O'Donnell/Atkins, the large land brokerage firm based out of Irvine. We'll start in San Jacinto, in Riverside County, where Barratt American acquired 580 s...
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The KOR Group Ventures into Eastern Columbia 8/12/04 The KOR Group has acquired the Eastern Columbia Building, a historically significant building in downtown LA, with plans to convert the Art Deco structure into a residential condo development that will add about 140 new housi...
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Condo Conversion Craze Making Dent in Multifamily Market 8/11/04 By William Ktsanes, Director of Research and Analysis
RealFacts
This latest column from RealFacts Director of Research William Ktsanes offers a very interesting overview of the current growing condo boom and how it is likely...
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Planned 64-Story Luxury Vegas Condo Project is Hard to Trump 8/10/04 Developers are becoming more and more enamored with high density, vertical residential developments in the Southland, and around the country, as demand for additional residential units continues to grow and new sites for pote...
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AvalonBay Purchases Redondo Beach Apartment Community 8/09/04 AvalonBay Communities Inc (NYSE/PCX: AVB) has acquired Esplanade Village, a 105-unit oceanfront apartment community in Redondo Beach, for $24.065 mil ($229.2k/unit). The company has renamed the complex Avalon at Redondo Beac...
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Bascom Marches into Lafayette 8/05/04 Bascom Northwest Ventures LLC recently closed on another Bay Area apartment property, having paid $8.45 mil for the Park Terrace Apartments, a 67-unit ($126.1k/unit) complex located in Lafayette. The seller of the property is...
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Investors Acquire 149-Unit Lake Elsinore Complex 8/04/04 The investment pros at Marcus & Millichap continue to rack up SoCal apartment sales, as these latest deals demonstrate. The largest of this group took place in Lake Elsinore, where a Southern California partnership paid $12.1...
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It's Hammer Time at Laurel Bay 8/03/04 A San Diego investment group led by Jon Hammer of Hammer Ventures acquired the 150-unit Laurel Bay apartment complex in San Diego for $56.6 mil, or about $377.3k/unit, with plans to convert the property into condominiums. The...
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Philadelphia Investment Group Goes for Summer View in the Valley 8/02/04 Summer View Apartments, a 170-unit apartment complex in the San Fernando Valley community of Sherman Oaks was acquired for $20.25 mil or about $119.1k/unit. Located at 15353 Weddington St, the complex was originally construct...
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Mid-Year Report Suggests Stabilizing Multifamily Market in California 7/30/04 By William Ktsanes, Director of Research and Analysis
RealFacts
Apartment rents increased slightly in most of the top twenty-five Metropolitan Statistical Areas we surveyed in 2nd quarter 2004, generally without a significan...
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Financing Notes 7/29/04 ARCS Commercial Mortgage Co, the big Calabasas-based multifamily lender, has recently completed financing on a couple of interesting redevelopment projects around downtown LA. One of the deals was the financing of $24.32 mil ...
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California Apartment Sales Review 7/28/04 SAN DIEGO (San Diego County) – An investment group paid $16 mil for Point at La Plaza, a 124-unit ($129k/unit) apartment complex at 1021 Scott St, facing Shelter Island on the San Diego Peninsula. Built in the 1960s, Point at...
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July 27, 2004 - Conversion of Vacant Downtown Office Tower is so RAD 7/27/04 Real estate developers Forest City Residential, RAD Management and TMG Partners have teamed up with MacFarlane Partners in a joint venture to convert a long-vacant downtown Los Angeles office tower into for-sale residential c...
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CT Collects $19 Mil from Sale of Orange Complex 7/26/04 A Newport Beach private investor paid $19 mil for the Strada Apartments, a 130-unit ($146.2k/unit) community at 175 N. Feldner Rd, north of Chapman Ave and east of the 57 Fwy in the city of Orange. The property, which was 95%...
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