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• Apartment Sales and Condo Permits Reach 10-Year Highs in San Diego County
3/22/04
The multifamily market in San Diego County continued to be hot in 2003, with apartment sales activity reaching its second highest level since 1989, and the number of permits for new condominium permits reaching its highest le...
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• Financing Notes
3/19/04
The Crescent, a $48 mil mixed-use project currently under construction in Beverly Hills' “Golden Triangle” area has received mezzanine financing of $6.75 mil, placed by Sonnenblick-Eichner Company, which is co-termed with a c...
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• Pacific Palisades Multifamily Complex Fetches $500k/Unit
3/18/04
EL CAJON (San Diego County) – United Development Group paid $1.9 mil for a 19-unit ($100k/unit) apartment property at 1165 Decker St in El Cajon. Originally built in 1985, the 14.5k sf complex consists of three buildings that...
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• SoCal Multifamily Briefs
3/16/04
SAN CLEMENTE (Orange County) – A pair of Rolling Hills private investors paid $1.57 mil for the Avenida Granada Apartments, a six-unit complex at 223 and 225 Avenida Granada in San Clemente. The sellers were Thomas and Gabrie...
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• Global Bank Regulations can Impact Local Real Estate Lending
3/16/04
William Ktsanes
Director of Research and Analysis, RealFacts
One of the most important factors impacting lenders' ability to provide mortgages is the amount of money they are required to set aside in capital reserves. Histor...
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• Standard Pacific Acquires another 217 Home Lots in Fairfield
3/12/04
Here's good news for the housing market in Northern California, as Standard Pacific Homes has purchased another 217 home lots in the Rancho Solano Golf Course master plan from Duc Housing Partners, out of Los Gatos. The acqui...
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• ARCS DUS It Again
3/11/04
ARCS Commercial Mortgage, the nation's #1 Fannie Mae DUS lender in 2003, for the seventh time out of the last eight years, continues to close SoCal fundings at an aggressive clip. Here's a quick synopsis of three recent deals...
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• San Diego Apartment Property Sells for $29 Mil
3/10/04
A 324-unit apartment complex in the Clairemont section of San Diego traded hands recently for $29.35 mil, or about $90.5k/unit. Known as Bay View Summit, the property is located at 3102-3180 Cowley Way, south of Balboa Ave an...
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• Multifamily Sales Review
3/09/04
FULLERTON (Orange County) – A Westminster-based private investor paid $10.5 mil ($119.3k/unit) for Magnolia Place, an 88-unit complex at 24444-2452 Orangethorpe Ave. The seller was Citrus Pointe Apartments, out of Irvine. The...
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• Brandywine Acquires The Cottages in Anaheim
3/05/04
Brandywine Development, a SoCal-based group, paid $15.35 mil for a 128-unit ($119.9k/unit) apartment property in Anaheim. Known as The Cottages, the property is located at 425 North Magnolia Ave, between La Palma and Lincoln ...
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• Essex Closes $124 Mil Purchase of Playa Vista Apartment Complex
3/04/04
Essex Property Trust Inc (NYSE:ESS), the Palo Alto-based apartment REIT, has closed on a major investment in West LA's massive Playa Vista development, having paid $124.5 mil for the Fountain Park Apartments. The 705-unit ($1...
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• Carmel Partners Closes $24 Mil Apartment Buy in Orange County
3/03/04
Here are a couple of newsworthy SoCal apartment comps from Marcus & Millichap, with one deal being in Stanton and the other in the San Fernando Valley community of Canoga Park. The larger of the two transactions was in Stanto...
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• Financing Notes
3/02/04
PW Funding Inc, a subsidiary of CharterMac (AMEX: CHC), provided funding of $19.5 mil for Centrepointe Apartments, a 176-unit luxury townhome apartment complex in West Los Angeles. The complex, located on Overland Ave, north ...
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• SoCal Multifamily Sales Review
3/01/04
TORRANCE (Los Angeles County) – A Palos Verdes investment group paid $13.75 mil for the Palisades Apartments, a 90-unit ($152.8k/unit) complex at 3724 Spencer St. The 24-year-old property consists of 15 one-bedroom units and ...
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• SoCal Multifamily Briefs
2/27/04
ESCONDIDO (San Diego County) – An investment partnership paid $13.4 mil for El Norte Heights, a 105-unit ($127.6k/unit) apartment complex at 145-225 W. El Norte Pkwy in Escondido. The seller was Income Growth Properties Ltd I...
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• Snyder Langston on a Mission in Downtown LA
2/26/04
The Midnight Mission, an independent social-service agency, has plans to relocate into a new 123k sf facility at 6th and San Pedro Streets in downtown Los Angeles, in what is reported to be the largest homeless service projec...
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• Redding Mobile Home Park Fetches $4.2 Mil
2/25/04
A private investor paid $4.2 mil for Twin View Mobile Home and RV Park, located at 481 Twin View Blvd in the NoCal city of Redding. The community contains 130 mobile home sites and 48 RV home sites and features such amenities...
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• Escondido Property Sells for $127/Unit
2/24/04
Multifamily investment properties continue to be in great demand throughout all of Southern California, and nowhere is this more evident than in San Diego County. In this report, we'll review a trio of recent comps from the c...
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• Signs of Life in Las Vegas
2/23/04
By Caroline S. Latham
CEO, RealFacts
Studying our survey of rents and occupancy at the end of 2003, we noted that Las Vegas seemed to be demonstrating more strength than many markets in the western region. So we though we'd ...
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• Latest Plans for Old Pasadena Come from Worldwide Church of God
2/20/04
Sares-Regis Group has purchased approximately 11 acres in the historic commercial district of Old Pasadena with plans to develop the property into a transit-oriented urban village that will include a residential and retail mi...
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