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• Hovnanian Acquires New 404-Unit Avenue One Project in Irvine
3/22/06
Here's a clarification to a story that we reported a few days ago. New Jersey-based K. Hovnanian (NYSE: HOV) has purchased the entire 404-unit Avenue One, a luxury mid-rise condominium community, currently under development i...
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• San Diego Condo/Rental Complex Trades for $48 Mil
3/20/06
A California limited partnership has acquired Club Pacifica, a 240-unit unit condo development in the Rancho San Diego area that has been operated as an apartment complex. It is located at 12191-12193 Cuyamaca College Dr East...
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• MacFarlane Partners Heads Uptown for Oakland Venture with Forest City
3/16/06
MacFarlane Partners and Cleveland-based Forest City Enterprises have teamed up in a venture to develop the first phase of the Uptown residential project in downtown Oakland. MacFarlane, which is HQ'd in San Francisco, had bee...
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• Multifamily Briefs
3/15/06
EAST HOLLYWOOD (Los Angeles County) – Buyers paid $4.85 mil for Sierra Vista, a 43-unit ($113k/unit) apartment complex at 5536 Sierra Vista in LA's East Hollywood area. The buyers, Namco Financial Inc and Amy Rubenstein, plan...
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• San Diego Apartment Market Continuing to Cool Down
3/14/06
Apartment sales volume in San Diego County fell for four consecutive quarters in 2005, signaling that the market may be correcting after nearly 10 years of record transaction activity and price increases. According to a new s...
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• Multifamily Briefs
3/13/06
PASADENA (Los Angeles County) – A private investor from Arcadia paid $7.2 mil for the Pasbury Apartments, a 23-unit ($313k/unit) community at 166 N. Wilson, near the 210 Fwy. Built in 2005 the complex is 100 percent occupied ...
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• Bascom Picks Up Its Eighth Seattle Apartment Community
3/10/06
Bascom Northwest Ventures LLC, a subsidiary of Irvine-based The Bascom Group, recently closed its eighth apartment acquisition in the Seattle area, having paid $8.45 mil for Mandarin View Apartments, a 96-unit ($88k/unit) pro...
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• Burbank Senior Artists Colony Takes Home Top Awards at National Show
3/09/06
The Burbank Senior Artists Colony, a 141-unit, 55-plus senior housing complex developed by Meta Housing Corporation, has captured the top prizes at the National Association of Home Builders (NAHB) 2006 Best of Senior Housing ...
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• Intracorp Purchases $100 Mil Condo Complex in Downtown LA
3/08/06
Intracorp Southern California, through its affiliated company, Savoy Associates LLC, has acquired Savoy, the recently-completed 303-unit luxury residential development formerly known as Alexan Savoy in Downtown LA. The proper...
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• CA Apartment News
3/07/06
MILPITAS (Santa Clara County) – San Diego-based Pacifica Companies picked up another CA apartment complex for a condo conversion play. The latest buy was Indian Hills, a 200-unit garden-style community situated on a 10.24-acr...
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• Taylor Woodrow Acquires 10 Acres in Montclair for New Homes
3/06/06
National homebuilder Taylor Woodrow has acquired 10.3 acres of land in Montclair for the development of a gated residential community to consist of 106 single family homes. The land, located in a Montclair redevelopment area,...
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• January CA Median Home Price Up 13.8% from Prior Year; Sales Down 24%
3/03/06
The median price of an existing home in California in January was up 13.8% from one year earlier, although the number of sales for the period decreased 24.1 percent compared with the same period a year ago, according to the l...
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• Multifamily Briefs
3/02/06
HOLLYWOOD (Los Angeles County) – Interstate Equities bought Mansfield Square (32 units), located at 1318 North Mansfield Ave, and Mansfield Circle (37 units), located at 1229 North Mansfield Ave, for a total price of $14.5 mi...
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• Condo Conversion Craze Varies Significantly from State to State
3/01/06
RealFacts, the NoCal-based multifamily real estate research firm, has been devoting quite a bit of research to the condo conversion craze and has pulled together some interesting numbers, comparing how the conversion numbers ...
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• BlackRock Parcs $64 Mil at New Stevenson Ranch Complex
2/28/06
BlackRock Realty Advisors Inc closed on a large north LA County apartment buy, after paying $64.65 mil for Parc Chateau, a 295-unit ($219.2k/unit) newly constructed community situated adjacent to the city of Santa Clarita. Th...
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• Torrance Apartment Complex Fetches $10.5 Mil
2/27/06
A California limited partnership purchased a 74-unit apartment complex in Torrance at the end of last year, in a deal that reportedly ranks as one of the largest multi-family sales in this market in a decade. The property, Pa...
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• Financing Notes
2/23/06
Buchanan Street Partners arranged $28.7 mil in third party financing on behalf of Emerald Fund Inc for the acquisition and renovation of the De Anza Apartments in San Mateo, which will be converted from apartments into for-sa...
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• Multifamily Briefs
2/21/06
LA MESA (San Diego County) – Casa de Colina, an 86-unit property at 8515 Chloe Ave, was purchased by KW/WDC La Mesa LLC for $11.1 mil ($129k/unit). The property, which was built in 1971 and sits on a 2.38-acre lot, contains 6...
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• Strong Year Predicted for Riverside/San Bernardino Apartments
2/17/06
The outlook for Riverside-San Bernardino's apartment market in the coming year is very good, as the region is expected to benefit from tight occupancies and high renter demand, according to Marcus & Millichap's National Apart...
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• SoCal Apartment Sales
2/15/06
EL CAJON (San Diego County) – A California limited partnership has acquired Greenfield Estates, a 58-unit complex at 501 Greenfield Dr, for $6.7 mil ($115.5k/unit). The buyer, Greenfield Partners LP, financed the purchase wit...
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