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May 20, 2024
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MULTIFAMILY NEWS
Archive
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• O'Donnell/Atkins Helps Build the Hesperian Empire
8/08/03
Here's a couple more land deals brokered by the folks at O'Donnell/Atkins, the Irvine-based brokerage firm that specializes in land transactions. One of the transactions was in the city of Hesperia, as Empire Companies, a rea...
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• Archstone/H.G. Fenton Team Up to Build Mission Valley Complex
8/07/03
Archstone Communities has broken ground on a 396-unit luxury apartment community in Mission Valley called Portofino that will be owned by H.G. Fenton Company upon completion and lease-up. The project is being built on a 16.5-...
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• Zander takes a Gander at San Fernander Valley Apartment Sales
8/05/03
Dean Zander, a Partner at Hendricks & Partners, has been busy selling apartment properties in the San Fernando Valley. Here's the scoop on two of his recent deals, in which he represented both the buyer and the seller. In o...
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• Beazer Buys Lots of Lots
8/04/03
Beazer Homes, an Atlanta-based homebuilder with local offices in the city of Orange, has been busy picking up additional land around SoCal for the construction of a number of new homes. In Ventura County, the company acquired...
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• August 1, 2003 - Archstone-Smith Nabs 450-Unit Santa Clara Complex
8/01/03
Archstone-Smith, one of the nation's leading owners, operators, developers and acquirers of apartment buildings, purchased Estancia Apartments, a 450-unit upscale apartment community in Santa Clara, for $80 mil ($177.8k/unit)...
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• Opus West Announces Luxury Multifamily Project in Irvine
7/30/03
Opus West Corp, the western US division of MN-based Opus Corp, has announced plans to build a 343-unit luxury apartment community at the corner of Jamboree Rd and Dupont Dr within Campus Centre in Irvine, representing the fir...
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• Statewide Multifamily Briefs
7/29/03
WESTCHESTER (Los Angeles County): A 17-unit, 17.8k sf apartment building was bought for approximately $2.7 mil ($159k/unit) by the Kolovos Family Trust. Built in 1991, the three-story building is located at 7120 Ramsgate Aven...
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• July 28, 2003 - Homesick Developers
7/28/03
The Presidio Trust received proposals from nine developers to convert the 300k sf Public Health Service Hospital and 100k sf in 17 surrounding buildings at the San Francisco Presidio to a residential complex with up to 400 li...
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• Bascom Gets White Lane Fever
7/25/03
The Bascom Group, out of Irvine, has closed another California apartment buy in a deal that just closed a couple of days ago. The company paid $4.79 mil for the White Lane Apartments, a 121-unit ($39.6k/unit) apartment commun...
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• Pomona Winery to Become Seniors Housing
7/22/03
At the end of June, AMCAL Multi-Housing Inc, a residential real estate development group, announced that it recently received approvals from the City of Pomona to move forward with the development of Portofino Villas, an $8 m...
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• July 21, 2003- Inland Empire Multifamily Notes
7/21/03
MONTCLAIR: Last month the former Margarita Elementary School site was sold when Richmond American Homes closed escrow on the property. It had recently received approvals for a 61 unit single-family residential subdivision. Th...
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• Westside Multifamily Sites Stir Up Interest
7/18/03
Marcus & Millichap recently sent us in the note that the sold a 15.2k sf parcel of land in West Hollywood at the Havenhurst Community Garden, which is located at 1351 Havenhurst Drive, half a block from Sunset Boulevard. Av...
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• Seattle and Iowa Team Swing For The Fence At Pac Bell
7/17/03
A joint venture between Seattle-based Security Properties Inc. Iowa-based Principal Global Investors purchased a property directly across from Pac Bell Park, home of the San Francisco Giants. The 43k sf parcel at 170 King St....
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• Development Partnership Collects $36 Mil from sale of Upscale San Diego Apartment Co
7/16/03
101 Market, a 149-unit luxury apartment complex in downtown San Diego's Marina district sold for $36.4 mil ($244.3k/unit). Located at 101 Market St, the property occupies an entire city block bordered by Market St and Island,...
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• City Council Approves Agreement for $123 Mil South LA Development
7/15/03
An important new LA retail/residential project moved another step closer to becoming reality recently, as the Los Angeles City Council approved the agreement with Capital Vision Equities and Keyshawn Johnson for the developme...
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• Investors Snag Two More San Diego-Area Apartment Properties
7/15/03
Here's an update on a pair San Diego-area apartment properties that have recently changed hands. The first deal is in El Cajon, where private investors paid $2.8 mil for the Mollison El Dorado, a 28-unit ($100k/unit) complex ...
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• Mexico Needs a Strong Countrywide Housing Finance System
7/14/03
Here's a summary of a report about the need for Mexico to develop a strong housing finance system, authored by Dr. David Dale-Johnson, Ph.D at USC's Lusk Center for Real Estate, and Gene Towle, Professor of Real Estate Market...
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• Multifamily Briefs
7/11/03
SAN DIEGO - Burnham Capital Markets has arranged an $11 mil loan for the purchase of Playa Blanca Apartments in San Diego by P. Blanca LTD, Cal. L.P, which plans to hold the property as an investment. The 161-unit apartment ...
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• Sares-Regis Takes the Bridge in Huntington Beach Apartment Voyage
7/10/03
The Seabridge Villas Apartment Community, a 344-unit apartment complex situated less than a mile from the ocean in Huntington Beach, has been sold by Northwestern Mutual Life for $63.75 mil. Originally built in 1987, the comp...
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• July 8, 2003 - Buyers of Recent San Diego Apartment Properties Exercise Great CARE
7/09/03
Here's a trio of recent apartment sales comps from San Diego County, starting in Vista, where a California limited partnership paid $9.4 mil for The Meadows Apartments, an 86-unit ($109.3k/unit) complex at 1110-1150 and 1125-...
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