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• Statewide Multifamily Briefs
10/03/03
BONSALL (San Diego County) – A private investor paid $5.25 mil for a 42-unit ($125k/unit) apartment complex at 31916-31918 Del Cielo Este. Steve Huffman and Jules Arthur of Hendricks & Partners represented the buyer and the s...
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• New Residential Tower Gets Green Light in NoHo Arts District
10/01/03
Redevelopment of the NoHo Arts District of North Hollywood got another boost last week, as the Los Angeles City Council gave JSM Construction approval to build an upscale 191-unit residential tower at the southwest corner of ...
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• Investor Pays $17 Mil for Stonewood Garden Apartments
9/30/03
Stonewood Garden Apartments, a 253-unit apartment complex in San Diego's Midway area, sold for $17.45 mil ($69k/unit). The 24-year-old property is at 3889 Midway Dr, south of I-8 and about a couple of blocks west of the San D...
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• San Diego Investor Builds Portfolio with Timbers
9/29/03
San Diego-based Investment Advisors purchased the Timbers Apartments, a 186-unit garden-style complex located near downtown San Leandro in the Bay Area. The buyer paid $17.4 mil, or roughly $93.5k/unit for the 129k sf, 28-yea...
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• ARCS Originates FHA Division
9/25/03
Here's more multifamily news from ARCS Commercial Mortgage – nothing surprising about that, the Calabasas-based lender is one of the biggest providers of multifamily financing in the country. The company has created a new FHA...
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• "They're Off!" at Del Mar
9/24/03
Construction has begun on Del Mar Station, a 4.5-acre mixed-use project being developed by LA-based Urban Partners LLC. Designed around a new North-South Metro Gold Line light rail terminus, the master-planned development wil...
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• Beverly Hills Site Trades Hands
9/23/03
Earlier this summer we reported about a piece of high-priced dirt in Beverly Hills that was available in a convoluted sale involving a seller that never took title to the property and had declared bankruptcy to protect its in...
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• Sperry Van Ness Duo Takes Apartment Investor to Trask
9/22/03
Sperry Van Ness' investment pros have been keeping busy, as evidenced by all of the news we get about many of their deals. We've got three more apartment sales to share with you in this report. In the first transaction, a pri...
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• Russian Hill Apartment Complex on the Market for $29 Mil
9/19/03
Brokers at Marcus & Millichap have landed a pair of sizable apartment complex listings in California, one in San Francisco and the other in the LA Basin city of Glendora.
The NoCal property is the Lombard Place Apartments, o...
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• Lend Lease Exec Offers Predictions for Multifamily Industry in 2004
9/18/03
Over 1,500 people attended yesterday's Apartments 2003 Conference at the Century Plaza Hotel in Century, an annual event put on by Marty Stolzoff's Real Estate Conference Group. The all-day seminar featured insightful comment...
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• KB Homes Makes Additional Land Buys in Both Ends of the State
9/17/03
KB Home, one of the country's largest homebuilders, made a couple of recent California land buys for new residential development in the state. In Southern California, the company acquired 94 residential lots from Blackmon Hom...
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• Pacific Property Cruises The Boulevard
9/16/03
Los Angeles-based Pacific Property purchased The Boulevard apartments in Sherman Oaks, a 104-unit garden-style community located at 4440 Sepulveda Blvd, south of Ventura Blvd and immediately east of the 405 Fwy. The seller, a...
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• Equity Residential Fells Mighty Oaks in Santa Clarita
9/10/03
Chicago-based Equity Residential, the nation's largest apartment REIT, just closed on a major SoCal buy, having paid $85 mil for The Oaks of Santa Clarita Apartments, a 520-unit ($163.5k/unit) property in Santa Clarita. Pacif...
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• Multifamily Sales
9/09/03
EL CAJON (San Diego County) – A 36-unit apartment property at 346 S. Mollison Ave sold for $3.03 mil, or about $84.2k/unit. Steve Huffman and Jules Arthur of Hendricks & Partners represented the buyer, Maxim N. Moyal, and the...
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• Five California Regions Head National List of Top Multifamily Seller's Markets
9/08/03
Sperry Van Ness, the Irvine-based investment brokerage firm, announced the results of its study of America's Top 10 Multifamily Investment Markets for 2003. The winner, in the category of Top Seller's Markets is San Francisc...
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• Investor Buys 32-Unit Good House in Anaheim
9/03/03
A private investor looking to complete a 1031 exchange transaction acquired the Buena Casa Apartments in Buena Park for $3.9 mil, or $121.9k/unit. Located at 8071 7th St, north of I-5 and east of Beach Blvd, Buena Casa consis...
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• AvalonBay Sells Amberway
9/02/03
A 256-unit apartment complex in San Diego's University Town Centre area was sold by Northwestern Mutual Life Insurance for $50.8 mil, or about $199.2k/unit. Called Lucera at UTC, the property was sold in two separate transact...
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• Multifamily Notes
8/29/03
WEST LOS ANGELES (Los Angeles County) – A 12-unit apartment complex at 11973 Montana Ave, near Bundy Dr in Brentwood, was purchased for $3 mil ($250k/unit). Built in 1951, the complex consists of 4 one-bedroom/one-bath units,...
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• San Diego Apartment Sales Drop; Permits for New Condos Jumps
8/26/03
A just released report by Burnham Real Estate Services shows that the number of second quarter 2003 apartment sales declined by 31.9 percent from the same three-month period in 2002, although the permits issued for condominiu...
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• August 25, 2003 - $15 Mil San Diego Transaction Leads Apartment Sales Review
8/25/03
A 161-unit apartment complex in the San Diego community of Nestor traded hands for $15 mil ($93.2k/unit). Located at 1910 and 1905-1979 Avenida del Mexico, the property was built in 1984 and consists of three buildings on jus...
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