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• SCI Closes on Texas-Sized Apartment Buy
5/26/06
SCI Real Estate Investments, the LA-based tenant-in-common (TIC) investment firm, closed on another Texas acquisition on behalf of its investors, having paid $33 mil for The Reserve at Charles Place, a 264-unit ($125k/unit) g...
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• $450 Mil East LA Redevelopment Project on Hold Until New Owner is Found
5/25/06
A major redevelopment project slated to help revitalize East LA has been delayed, at least for a while, as MJW Investments has decided to sell the 23-acre Sears, Roebuck & Co distribution center in Boyle Heights that is targe...
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• Riverside to Get Its Own Fox Plaza
5/23/06
A venture of MetroPacific Properties and The Nicholson Company has been selected by the city of Riverside to develop Fox Plaza, the first mixed-use project to be built in historic downtown Riverside. Plans for Fox Plaza incl...
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• Real Estate Partners Closes $50 Mil Apartment Buy in Woodland Hills
5/22/06
Real Estate Partners Inc purchased The Arbors at Warner Center, a 250-unit apartment community in the western San Fernando Valley community of Woodland Hills. The asset was sold by Gateway Arbors LLC for approximately $50 mil...
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• Financing Notes
5/19/06
The Phoenix office of Trammell Crow Residential is getting ready to break ground on a new 171-unit townhouse project in Glendale, AZ, called The Quarter, thanks to Fremont Investment & Loan, which is providing $32.85 mil in c...
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• San Pedro Vue Units Selling Fast
5/18/06
More than half of the 318 units at Vue, San Pedro's first waterfront, high-rise residence, were sold during the Phase One two-day sales event on April 29th and 30th. The $175 mil condo project is the largest development to da...
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• Statewide Multifamily Update
5/17/06
SANTA CRUZ (Santa Cruz County) -- RREEF, on behalf of an institutional client, has entered into a joint venture with Seagate Properties for Oceanview and The Breakers Apartments, both located in Santa Cruz. Originally constru...
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• Multifamily Briefs
5/16/06
SANTA ANA (Orange County) – Plaza Del Sol, a 196-unit apartment property at 300-301 W. 2nd St, was acquired by Artists Village JV LLC for $31 mil ($158.2k/unit). Both the buyer and the seller, Granite Four LLC, were repped b...
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• Roosevelt Inauguration Set for 2007
5/12/06
The landmark Roosevelt Building in downtown Los Angeles is currently undergoing an $80 mil conversion that will make it the first residential building in the area to include Red and Blue Line stations on the site. Located on ...
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• Millbrae Apartment Property Sells for $28 Mil
5/11/06
Emeryville-based BayRock Residential has purchased The Avalon Apartments, a 72-unit fully entitled apartment community located in the city of Millbrae, a community of roughly 20,000 people situated 15 miles south of San Franc...
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• Bascom Acquires Historic LA Apartment Property
5/10/06
The Bascom Group, out of Irvine, has acquired the historic William Penn Apartments, a 189-unit apartment community located at 2200 West 8th St, south of Wilshire Blvd and west of Alvarado St in LA's Westlake district. The pur...
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• Multifamily Briefs
5/09/06
HEMET (Riverside County) -- Carlsbad-based Regional Land LLC has acquired Parkside Gardens, an assisted living facility, for $5.6 mil. The sale also includes one acre of vacant land for development of an additional facility ...
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• Take a Gander at These Apartment Listings from Zander
5/08/06
Looking for LA-area apartment investment opportunities in the $5 mil to $20 mil range? Well, we have five current listings to share with you, courtesy of Dean Zander, a Partner at Hendricks & Partners, the successful apartmen...
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• Bascom Picks Up another 410 Units in the Tuscon Area
5/04/06
Bascom Arizona Ventures LLC has closed on another sizable buy in Arizona, having paid $16 mil for the Tierra Bonita Apartment complex, a 410-unit ($39k/unit) asset located at 175 West Valencia Rd in Tuscon. This gives the fir...
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• Rental Markets Reaching that Perfect Balance
5/03/06
In the latest research from RealFacts, the highly regarded NoCal-based apartment information firm, more and more rental markets are nearing what they define as “perfect balance”, which is based on an optimum mix of occupancy ...
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• Financing Notes
5/02/06
Irvine-based TMC America has provided $5 mil of equity financing for two condo conversion projects in the greater Los Angeles area. Both projects are being developed by Veritas Real Estate Investments LLC of Los Angeles.
In...
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• Multifamily Briefs
4/28/06
LONG BEACH (Los Angeles County) – Villa del Sol, a 56-unit apartment complex located just south of the 405 Fwy and east of the 710 Freeway, has been listed for sale as an open bid with a minimum price of $11.5 mil ($205.4k/un...
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• Financing Notes
4/27/06
George Smith Partners has arranged $22.3 mil in financing for the development of 400 Harborside, a new waterfront residential condominium project in the historic navy town of Bremerton, Wash, located across Puget Sound from S...
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• CA Home Prices Up 13% in March; Sales Down 15%
4/26/06
The latest figures from the California Association of Realtors are out and they show that the median price of an existing home in California increased 13 percent in March, while sales decreased 15.1 percent compared with the ...
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• Santa Monica Apartment Property Sells for $26 Mil
4/25/06
Carmel Partners has acquired the Pico Lanai Apartments, a 174-unit apartment complex located at 2501 S. Pico Blvd, south of the 10 Fwy and a few blocks east of Cloverfield Blvd in Santa Monica. The asset, which fetched $28.12...
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