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• Home Builders Team Up to Buy 2,000 Acre-Site in Henderson
6/18/04
A 1,940-acre land parcel in the Nevada city of Henderson was purchased though an auction on June 2 by a group of home builders that included KB Home, the largest home builder in the Las Vegas area. Per a recent piece in the L...
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• AMCAL to Add 523 New Housing Units Near Dodger Stadium
6/17/04
Boosters of new housing development in lower income parts of LA should welcome a big groundbreaking event coming up next Tuesday, June 22. The event will promote construction by AMCAL Multi-Housing on an innovative transit-or...
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• Investors Pick Up $26 Mil San Francisco Apartment Portfolio
6/16/04
A Bay Area investment group that currently owns more than 3,000 multifamily units recently purchased a portfolio of seven apartment properties in San Francisco, in a transaction that had a sales price of $26.26 mil and an ave...
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• Multifamily Deal Notes
6/15/04
POWAY (San Diego County) – Canyon View Apartments, a 44-unit complex in Poway, was sold for $8.7 Mil ($197.7k/unit). The two-story, 37.7k sf property is located on 1.66 acres at 12719-12745 Robison Blvd. The buyer, WGA Robiso...
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• Intracorp Goes with New Platinum Triangle Offense in Anaheim
6/14/04
Looking to capitalize on what they hope will be a brand emergence of Platinum Triangle, the area around Edison Field in Anaheim, Intracorp, out of Newport Beach, has bought a four-acre, underperforming corner retail site that...
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• Multifamily Briefs
6/11/04
WEST COVINA (Los Angeles County) – A San Diego-based investor paid $13.5 mil for South Hills, an 85-unit ($158.8k/unit) complex at 2928 East Virginia in the San Gabriel Valley city of West Covina. The seller was The Bascom Gr...
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• Big $106 Mil Sale in Little Italy
6/10/04
Irvine-based K. Hovnanian Companies acquired a just-completed 382-unit condo project called Acqua Vista in downtown San Diego. Hovnanian paid $106 mil ($277.5k/unit) for the property, which was sold by Watt Commercial Propert...
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• SoCal Multifamily Notes
6/04/04
ORANGE (Orange County) – A Newport Beach investor paid $19 mil for Strada, a 130-unit ($146.2k/unit) apartment community at 175 North Feldner Rd. The seller was Newport Beach-based CT Realty. Joe Leon, Peter Hauser and Brian ...
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• Planned Residential Project to Tower over Richmond's Waterfront
6/03/04
A partnership of Simeon Commercial Properties and Cherokee Investment Partners is looking to develop a condo high-rise project as part of the massive Campus Bay development on Richmond's waterfront. According to a recent arti...
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• Pacifica Uncovers $47 Mil at Pirate's Cove and Waterford Park
6/02/04
San Diego-based Pacifica Companies has obtained $47.8 mil in loans to finance the acquisition and condominium conversions of Pirate's Cove and Waterford Park, two garden-style apartment communities located in Las Vegas. The f...
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• California Multifamily Notes
6/01/04
CARMICHAEL (Sacramento County) – A pair of Bay Area private investors paid $3.9 mil for Madison Oaks Apartments, a 40-unit ($97.5k/unit) complex at 5216 Garfield Ave. The two-story, four-building complex was built in the 1980...
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• Another Exciting Residential Conversion from LA's Central Kor
5/27/04
The renaissance in downtown Los Angeles continues to pick up steam, as we've got news of another exciting redevelopment project that will bring more residential units to LA's central city. The Kor Group has announced plans to...
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• REITs Reposition to Capture Future Growth
5/26/04
By William Ktsanes, Director of Research and Analysis
RealFacts
Low cap rates and a flood of investment capital into real estate have given apartment owners an opportunity to adjust their portfolios. Our data confirm finding...
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• Granite Invests Solid $25 Mil in Santa Ana Apartment Property
5/25/04
The multifamily pros at Hendricks & Partners keep closing apartment deals here in the Southland. Here's a quick recap of four recent transactions. The largest was in Santa Ana, where Irvine-based Granite Investment Group paid...
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• Bascom Docks $26 Mil at Harbor Cove
5/24/04
The Bascom Group just closed on a $26 mil SoCal apartment buy, having acquired the Harbor Cove Apartments, a 161-unit ($161.5k/unit) oceanfront community in Redondo Beach. The complex is located at 211 Yacht Club Way, by Harb...
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• Lennar Looking to Redevelop Irvine Site into Multifamily Housing
5/21/04
Irvine businesses should start planning for a lot of new neighbors, as the move to build new multi-unit housing within this business-oriented city is picking up steam. Pulling some headline news from a recent edition of the O...
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• Financing Notes
5/20/04
Mountain Funding LLC has acquired a 50% participation in a $13.725 mil mezzanine loan previously originated by Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services for The Mills at Cortez Hill, a 133...
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• Here's an Opportunity to Park $12 Mil in Park Murietta
5/19/04
Park Murietta, a 33-unit luxury condo complex in the San Fernando Valley community of Sherman Oaks has been put on the market with an asking price of $12 mil, or roughly $363.5k/unit. The property is located at 4532 Murrieta ...
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• Multifamily Notes
5/17/04
WALNUT (Orange County) – An 18.26-acre parcel of raw land in the city of Walnut traded hands for $4 mil, or about $5/sf. The land, which was purchased by a local unnamed municipality, is currently zoned for low-density reside...
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• Eagle Soars after $56 Mil Sale of Ontario Apartment Portfolio
5/14/04
Eagle Real Estate Group has sold its five-property, 589-unit Ontario portfolio to Invesco/Beneke Krieg for $56.3 mil ($95.6k/unit). In 39 months, Eagle produced an annual return for its equity partner of 28.33%, for an overal...
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