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• Multifamily Notes
5/12/04
SAN DIEGO (San Diego County) – A San Diego-based investment entity paid $27.5 mil for Cumberland, a 144-unit ($191k/unit) apartment property at 8213 Jade Coast Rd in San Diego. Steve Huffman, Jules Arthur and Dick Bassett of ...
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• The Natural Rate of Vacancy
5/11/04
By William Ktsanes, Director or Research and Analysis
RealFacts
After releasing our 1st quarter 2004 data last month we naturally fielded questions about apartment occupancy levels. While most people knew occupancy changes c...
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• Van Nuys Seniors Complex Listed for $18.5 Mil
5/05/04
With apartment properties being in considerable demand of late, we though you might be interested in a couple of recent SoCal listings in the $10 mil - $20 mil range. The listings, which are both being marketed by Marcus & Mi...
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• $19 Mil Sherman Oaks Apartment Buy is Just Grand
5/04/04
In this report we'll review a number of interesting multifamily news briefs in the state, starting down in San Diego, where a California limited liability company paid $19 mil for the Parkview Village Apartments complex, a 12...
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• Buyers of $12.5 Mil Scripps Ranch Complex are Planning a Condo Conversion
4/29/04
A California limited liability company paid $12.5 mil for the Scripps Mesa Apartments, a 62-unit ($201.6k/unit) complex at 9929 Erma Rd in Scripps Ranch, with plans to convert the property into condos. There is already a cond...
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• San Diego Apartment Investors Give It the Old College Try
4/28/04
In San Diego's Oak Park area, near the western borders of La Mesa and Lemon Grove, a California limited partnership paid $25 mil for the College Park Apartments, a 160-unit ($156.3k/unit) complex at 6333 College Grove Way, no...
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• Oceanside has a Run on $17.5 Mil, 136-Unit Apartment Properties
4/27/04
We've got news of two recent $17.5 mil apartment property sales just a few doors apart from each other on Barnard Dr in Oceanside. The properties, which are very similar in age and design, are near Miracosta College, north of...
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• Multifamily Notes
4/26/04
ANAHEIM (Orange County) -- A private investment group paid $15 mil for the Citadel Apartments, a 142-unit apartment community at 144 S. Magnolia Ave in Anaheim. Constructed in 1970, the complex contains 112.9k sf rentable sf ...
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• Equity Residential Goes for a Juicy Valencia
4/22/04
Equity Residential, the nation's biggest apartment property owner, just added a three-year-old Valencia complex to its portfolio, having paid $50 mil for Jefferson at Town Center, a 294 unit ($170k/unit) garden-style apartmen...
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• Low Cap Rates
4/20/04
By William Ktsanes, Director of Research and Analysis
RealFacts
Today, market capitalization rates—or cap rates—are at their lowest levels in over a decade. Nationally, the average cap rate on grade A apartment buildings is ...
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• Rolling Oaks Gathers San Diego Buyer
4/19/04
The ConAm Group of Companies, a San Diego-based real estate investment firm, acquired Rolling Oaks Apartments, a 292-unit institutional multi-housing community in the heart of the North Bay. Strategically located in the rolli...
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• Emerald Ridge Sparkles after $34 Mil Re-fi
4/19/04
Buchanan Capital Advisors has secured $34.5 mil in permanent financing through Deutsche Bank Mortgage Capital for the refinance of Emerald Ridge Apartments, a 350-unit multifamily property in Hacienda Heights. The financing ...
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• New Owners Have Big Plans for Historic Hotel in San Diego's North Park Area
4/16/04
A limited partnership that included Lennar Communities acquired the historic Lafayette Hotel in San Diego's North Park area for $9.6 mil. The building, which has a bit of a checkered history, is slated to be restored and reno...
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• Lennar Spends Over $9 Mil for a Nice Piece of Ash
4/15/04
An entity of real estate giant Lennar Corp recently nabbed all but a 10k sf corner chunk of a full block in downtown San Diego. The site, which is bounded by West Beech, Ash St, Pacific Hwy and California St, is 60k sf in siz...
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• April 14, 2004 - Financing Notes
4/14/04
Walnut Creek-based Inland Mortgage Corporation of Illinois provided first mortgage for the purchase and renovation of a pair of two SoCal apartment properties. The first transaction was a $4.78 mil loan to Landmark Equity Par...
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• Malcolm in the Middle of Folsom Development Site
4/13/04
Here's a quick update on a couple of exciting new residential towers that are planned for San Francisco. One of the projects is a 21-story development proposed for 631 Folsom St, between 2nd and 3rd Streets. Malcolm Propertie...
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• Multifamily Notes
4/12/04
LA MESA (San Diego County) – Saranac Apartments, a 68-unit complex in La Mesa, sold for $6.31 mil ($92.8k/unit). Located at 7080-7138 Saranac St, the complex is made up of two properties, once of which was constructed in 1970...
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• StarPoint Locks Up Latest Acquisition with Le Club
4/09/04
StarPoint Properties, an LA-based real estate acquisition and development firm, recently closed on a large multifamily purchase in Ventura County, having purchased Le Club, a 370-unit complex in the city of Moorpark. Built in...
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• Investor Spends $16 Mil Shopping at Pavilions
4/08/04
A private investor from Yuba City paid $16.2 mil for the Pavilions at Tyson Lane, an 84-unit ($192.9k/unit) apartment complex at 38740 Tyson Lane, south of Peralta Blvd in Fremont. Built in 1992, the property contains a total...
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• San Marcos Apartment Property Fetches $36 Mil
4/07/04
Here's a large multifamily sales comp from San Diego County, as a Rancho Santa Fe investor acquired the 264-unit Mission Park apartment complex in San Marcos for $36 mil ($136.4k/unit). Located at 201-230 Woodland Pkwy, north...
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