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• Los Angeles County 3rd Qtr Multifamily Sales Volume Down 12% from Prior Year
12/08/22
LA County Q3 2022 - Multifamily Market Outlook
This update provided by NAI Capital Commercial
In Los Angeles County, the multifamily housing market continued enduring remnants of the statewide eviction moratorium, which was...
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• Preservation Equity Fund Advisors LLC Buys 91-Unit Affordable Housing Community in San Diego
12/07/22
Preservation Equity Fund Advisors LLC (PEF Advisors) paid $20 mil for Alcove East Village (formerly known as Nook East Village), a 91-unit affordable apartment community for individuals and veterans located in San Diego.
“S...
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• Colorado Mobile Home Park Purchased for $3.13 Mil by The Yampa Valley Housing Authority
12/02/22
Whitehaven mobile home park, a 28-lot mobile home park in Steamboat Springs, CO, was purchased for $3.125 mil by The Yampa Valley Housing Authority on behalf of the residents of Whitehaven. The acquisition marks the second ac...
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• Newport Beach Res Community Undergoes Extensive Interior and Exterior Renovations
12/01/22
Interior and exterior renovations have been completed at Vercanta Newport Beach Apartments, a 147-unit, two-story, garden style multifamily community located in Newport Beach. The property is located at 1561 Mesa Dr, just so...
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• New 281-Unit Res Community in Lakewood, CO is Finished
12/01/22
Traverse Apartments, a 281-unit, Class A apartment community in Lakewood, CO, has opened its doors to the public. Located between downtown Denver and the Rockies, an area experiencing a housing shortage, Traverse Apartments i...
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• Res Project in Bellevue, WA Breaks Ground
12/01/22
Legacy Partners, in partnership with New York Life Real Estate Investors, has broken ground on Copal, a 288-residence multifamily property in the fast-growing Bel-Red corridor submarket of Bellevue, WA. The mid-rise, transit-...
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• Avanti Residential Buys 382-Unit Phoenix Res Community for $65 Mil
11/30/22
Avanti Residential has partnered with FCP in the acquisition of Omnia on Thomas, a 382-unit apartment community in Phoenix, for $65 mil, or $170k/unit. Recognized for its chic and colorful exterior with a coveted American Soc...
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• Advanced Real Estate Buys 90-Unit Res Asset in Orange County
11/30/22
Irvine-based Advanced Real Estate has acquired Foxborough Apartments, a 90-unit multifamily complex in the city of Orange, in a $41.5 mil ($461k/unit) transaction. The property, located at 501 E. Katella Ave, was sold by UDR....
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• Apartment Building in L.A.’s Echo Park area Trades for $380k/Unit
11/28/22
A 10-unit apartment property located in L.A.’s Echo Park area sold for $3.8 mil, or $380k/unit. Built in 1966, the property is located at 1330 Portia St and is subject to Los Angeles rent control.
The property consists of on...
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• Private Investor Spends $11.25 Mil on Palm Springs Affordable Housing Community
11/28/22
Sunnyview Villa Apartments, a 44-unit garden-style multifamily community in Palm Springs, was purchased by a California-based affordable housing investor for $11.25 mil ($255.7k/unit). Built in 1980, the property is located a...
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• Northland Closes $500 Mil Res Buy in Downtown L.A.
11/23/22
In a recent multifamily asset trade, Northland purchased THEA at Metropolis, a 685-unit, ultra-luxury, high-rise multi-housing community located in Downtown Los Angeles, for $504 mil. The 59-story res high-rise was sold by a ...
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• Greystar Set to Start Work on Res Project in Portland’s Slabtown Neighborhood
11/23/22
Greystar is set to break ground later this month on a new housing project in Portland’s Slabtown neighborhood. The centrally located buildings will feature 364 units across two blocks between Northwest 19th and 20th Avenues, ...
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• Washington Multifamily Property Trades in $78 Mil Deal
11/22/22
Lakemont Orchard, a 201-unit apartment community located on Seattle’s Eastside in Issaquah, WA, traded hands in a $78.5 mil ($390.5k/unit) transaction. The buyer’s name was not immediately released. The seller was an affiliat...
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• Universe Holdings Refis 56-Unit Res Property in La Mesa
11/18/22
Universe Holdings has secured a $10.75 mil refi loan on Chateau Spring Terrace, a 56-unit multi-housing community located in La Mesa. The ten-year, fixed rate loan was arranged by Charles Halladay, Jonah Aelyon, Jolie Zhou an...
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• Complex 1031 Exchange Involves Five Properties in Deals Totaling Nearly $24 Mil
11/18/22
Five properties traded hands as part of a complex 1031 exchange. An investor sold two Bay Area multifamily communities in San Mateo for $12.85 mil and exchanged into two KinderCare Learning Center properties and a Dollar Gene...
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• Texas Res Project Lands $56 Mil in Financing
11/18/22
Construction of a new, 350-unit garden-style apartment complex in Bexar County, TX is set to move forward now that $56 mil of financing has been secured for the project. The financing covers 98.2% of the total cost of the pro...
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• Haven Realty Capital and J.P. Morgan Global Alternatives Firm Fund to Develop and Acquire Build-to-Rent Communities
11/16/22
Haven Realty Capital and institutional investors advised by J.P. Morgan Global Alternatives have formed a programmatic joint venture to acquire and develop more than $1 bil in new build-to-rent (“BTR”) communities throughout ...
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• San Jose Res Community Traded in $185 Mil Transaction
11/16/22
Centerra Apartments, a 347-unit res community in San Jose, sold in a recent deal said to be worth around $185 mil. The buyer was an investment entity led by 3D Investments, out of Beverly Hills.
The property is located at is...
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• Workforce Housing Project in L.A.’s Mid-City Area Expected to Finish Up in Spring 2023
11/15/22
A new 123-unit workforce housing project in Los Angeles’ mid-city area is underway and expected to wrap up construction in spring 2023. The development, Liv on Pico, will provide much-needed housing adjacent to Culver City an...
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• L.A. Metro and A Community of Friends Start Construction on Affordable Housing Complex in Boyle Heights
11/14/22
The Los Angeles County Metropolitan Transportation Authority (Metro) and A Community of Friends, a nonprofit specializing in developing supportive housing, have broken ground on construction of a new affordable housing develo...
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