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Obsolete Lincoln Heights Building to Become a Livable Place 12/24/03 A four-story, 130k sf industrial building in LA's Lincoln Heights area is to be converted into a “mixed income” loft-for-sale complex, after being acquired for $4.4 mil by Fuller Lofts LLC. The property, which sits on 1.5 acr...
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December 22, 2003 - Transitory Ownership 12/22/03 San Diego-based Fairfield Residential LLC has acquired Del Norte Place, a transit-based residential project in El Cerrito, for $20.3 mil. The seller was a public/private partnership formed by the Ibex Group of San Francisco a...
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Hendricks' Negotiates the Louisiana Purchase! 12/17/03 Hendricks & Partners, a leading real estate services firm that specializes in multifamily deals, continues to close sales deals around the country. Here are examples of a couple of recent California transactions, one in each ...
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Multifamily Briefs 12/15/03 WHITTIER (Los Angeles County) -- A Phoenix, AZ buyer paid $16.2 mil for Kendallwood Apartments, a 120-unit ($135k/unit) apartment complex at 10522 Santa Gertrudes Ave, north of Whittier Blvd in Whittier. The property had unde...
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CT Makes $7.8 Mil Inland Empire Buy 12/12/03 Newport Beach-based CT Realty Corp paid $7.8 mil for the Corona Village Apartments, an 83-unit ($94k/unit) apartment community at 901 S. Smith Ave in the Inland Empire city of Corona. The six-building complex sits on more tha...
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Renovated Pasadena Apartment Property Sells for $93k/Unit 12/11/03 It seems that as soon as we publish news of recent apartment sales negotiated by brokers at Sperry Van Ness we receive word of more deals. Here's a quick review of three SoCalComps, one from Pasadena and the other two from th...
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New Construction of Major Apartments in Western Region at 10-Year Low in 2003 12/10/03 By Caroline Latham
CEO
RealFacts
Year-end figures emphasize how cautious developers have been in 2003. We're still checking to make sure we've got all the complexes that opened this year, but the drop in new construction has...
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Investor Pays Almost $20 Mil for 175-Unit San Diego Complex 12/09/03 A California limited partnership paid $19.6 mil for the Parkwood apartment complex, a 175-unit ($112k/unit) property at 6401 Mount Ada Rd in San Diego. The 30-year-old complex is in the Clairemont section of town, east of Gen...
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December 8, 2003 - Multi-Family, Multi Deals 12/08/03 On the Northern California residential front, Pulte Homes purchased a 65.3k sf industrial building at 1249 67th St on the Oakland/Emeryville border. The homebuilder paid $6.45 mil for the 2.84-acre property, which was bought ...
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Apartment Sales in San Diego Slows Although Demand Remains High 12/05/03 A just released report from Burnham Real Estate Services, a leading Southern California firm, shows that the 299 sales of apartment properties in the third quarter of 2003 represents a 3.9% decline from the same period a year...
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San Diego Apartment Buyer Rides into the Sunset 12/03/03 In a San Diego-area apartment buy, a local buyer paid $18.25 mil for Sunset Village, a 144-unit ($126.7k/unit) property in San Ysidro. The property is at 3560 Sunset Lane, between I-5 and I-805, a short distance north of the ...
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San Diego Apartment Market Remains Among the Best in the Nation 12/01/03 Marcus & Millichap Real Estate, the California-based investment brokerage firm, recently released its Apartment Research Report for the San Diego market, which indicates that low housing affordability and forecasts for employ...
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Land Ho! 11/28/03 By Allen Wolfsheimer
It's not news to anyone with some grasp of the major economic issues in this great state of ours that at the center of California's housing crunch is the shortage of developable land in most of the state...
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Inland Empire Multifamily Market Still Offers Plenty of Upside 11/25/03 For anyone looking to invest a mil or more in multifamily property, the inland markets of the San Gabriel Valley, and especially the Inland Empire, provide plenty of properties that many pros would say still offer a substanti...
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It's a Sperry Busy Apartment Market in Southern California 11/24/03 We can hardly go a day without hearing news of another SoCal apartment or retail sale brokered by some of the folks over at Sperry Van Ness (SVN), the Irvine-based real estate services firm. In this report, we'll share a few ...
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Advanced Negotiations Lead to $20 Mil Apartment Sale in Yorba Linda 11/19/03 Rick Julian of Lake Forest-based Advanced Real Estate Services paid $20.5 mil for Yorba Linda Pines, a 120-unit ($170.8k/unit) apartment complex at 18700 Yorba Linda Blvd, east of Lakeview Ave in Yorba Linda. The project was ...
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What's Happening with Sale Prices? 11/18/03 By Caroline Latham
CEO
Realfacts
With the end of the year little more than six weeks away, we are starting to think about the year- end summary of sales for 2003. We are still collecting data, so the results discussed below ...
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Oak Street Village to be the New Standard in Torrance 11/17/03 The city of Torrance is looking to add to its housing stock, as the City Council there approved development of a new 276-unit townhome/condominium community called Oak Street Village, to be built by Standard Pacific Group's U...
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Horton Buys Land for Big Log Cabin 11/14/03 D.R. Horton Inc, one of the largest home builders in the country, has made a couple of major land buys in Nevada's Clark County for construction of new residential developments near Las Vegas. One of the acquisitions was a $3...
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Latest Bascom Purchase is Smooth as Silk 11/13/03 The Bascom Group is in the news again, as the Irvine-based investment firm has purchased a three-property, 517-unit apartment portfolio in the Fresno area for $24.5 mil ($47.4k/unit). The acquisition, which just closed on Nov...
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