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Financing Notes 6/15/05 A subsidiary of CharterMac Mortgage Capital (“CMC”) has provided financing of $26.3 mil for the $43 mil acquisition of the 270-unit The Royal Equestrian Apartments in Burbank, about 12 miles northwest of downtown Los Angeles....
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San Diego Multifamily Market Slows, but Remains Strong 6/13/05 Investor expectations about the multifamily market in San Diego are changing, as evidenced by a slowdown in price increases and fewer transactions for both apartment and condo-mapped properties, according to a first quarter 2...
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San Diego Apartment Sales 6/10/05 In this report we'll update you on a number of recent San Diego-area apartment sales comps. We'll start in Escondido, where the 112-unit Woodland Townhomes was acquired for $21.8 mil ($194.6k/unit). The property, which has a ...
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Interstate Picks Up a Chateau in Toluca Lake 6/09/05 Los Altos-based Interstate Equities Corp has purchased Chateau Toluca, a 145-unit apartment property located at 211 N. Valley St in Toluca Lake. The property is just north of Lakeside Country Club and west of Barham Blvd, at...
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Multifamily Briefs 6/08/05 ATASCADERO (San Luis Obispo County) – Arroyo Grande-based La Tierra Ventures LLC paid $3.9 mil for La Tierra Apartments, a two-building, 36-unit ($108.3k/unit) complex at 9331 Musselman. Originally built in 1989, the complex ...
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Lowe to Star in Melrose Place 6/06/05 Lowe Enterprises Investors (LEI), an affiliate of LA-based Lowe Enterprises, has acquired the Melrose StudentSuites™ Housing Portfolio comprised of four private, off-campus student housing communities totaling 4,138 beds in 1...
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77-Year-Old Apartment Property in LA's Mid-Wilshire Area Sells for $85k/Unit 6/03/05 A San Francisco investor paid $7.615 mil for La Chandelle and La Marquise, a two-building apartment community located in LA's Mid-Wilshire area. The complex contains 90 units ($84.6k/unit) and is at 525 and 535 S. Gramercy Pl...
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Intracorp on a Mission in San Francisco 6/02/05 Intracorp San Francisco (ISF) has reached an agreement to purchase a one-acre site in San Francisco's Mission Bay for development of a new residential project. The company, a Bay Area developer of high-density urban infill pr...
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Big Bakersfield Buy for Bascom 6/01/05 The Bascom Group, out of Irvine, just wrapped up another apartment buy, having paid $9.2 mil for the Villa Loma Apartments, a 128-unit ($71.9k/unit) complex at 6900 Valley View Dr in the city of Bakersfield. It was sold by Ga...
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112-Unit Escondido Complex Acquired for Conversion to Condos 5/31/05 A San Diego-based investment partnership has purchased the Woodland Townhomes, a 112-unit apartment complex at 1401-1463 N. Broadway, north of El Norte Pkwy and east of I-15 in Escondido. The property, which has a condo map a...
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Upscale Residential Project Set to Break Ground in Berkeley 5/27/05 A new upscale mixed-use development in the city of Berkeley is scheduled to break ground this fall, with completion slated for the end of 2007. Called “The Arpeggio of Berkeley,” the community-minded project is being develope...
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H.G. Fenton Acquires New Mission Valley Apartment Complex 5/26/05 H.G. Fenton Company completed its acquisition of Portofino, a new 16.5-acre apartment community at Northside Dr and Friars Rd in Mission Valley. With this property, which was built by Archstone Communities, H.G. Fenton now ow...
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Multifamily Briefs 5/25/05 HAWTHORNE (Los Angeles County) – A 58-unit apartment property at 13519 Yukon Ave was purchased for $5.25 mil ($90.5k/unit). Built in 1970, the building is on a 58.2k sf lot, which offers future development potential. Albert S...
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Universe Holdings Looks for Big Bang with Amargosa Buy 5/24/05 Beverly Hills-based Universe Holdings Development Company LLC has acquired Amargosa Creek, a 216-unit apartment community in Lancaster. The property, which sits on approximately 8.7 acres in this growing region of North LA Co...
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$63 Mil Kearny Mesa Condo Conversion Buy has Universe-al Appeal 5/19/05 Multifamily product is in great demand throughout SoCal these days and nowhere is that more evident than in San Diego County, as both investors and developers looking to convert apartments into condos are quickly snapping up ...
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Irvine-Based Bascom Picks Up another Large Seattle-Area Apartment Complex 5/18/05 We've got another Seattle-area acquisition to announce for Bascom Northwest Ventures LLC, a division of Irvine-based The Bascom Group. In this latest deal, the company's seventh apartment buy in the Seattle area, Bascom purch...
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Multifamily Briefs 5/17/05 LONG BEACH (Los Angeles County) – A Las Vegas-based multifamily developer called Pacific Properties and Development has purchased a 5.6-acre parcel of land adjacent to the 393-room Hilton Long Beach Hotel and Executive Meetin...
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A couple of M&M's Sweeten SoCal Apartment Market 5/16/05 Here's the scoop on a couple of recent $10 mil SoCal apartment sales brokered by Marcus & Millichap. In one of the deals, Millenium Holdings paid $10.7 mil for the Parkwood Apartments, a 95-unit ($112.6k/unit) complex at 1471...
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Here's a Chance to Buy One of the Best Apt Props in the Universe 5/13/05 Here's an opportunity to acquire a large apartment property in sizzling San Diego County, as the 450-unit Cascade Falls complex in Carlsbad has been listed by Universe Holdings, a Beverly Hills-based syndicator. Real Estate A...
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400-Unit Apartment Project Planned for Oxnard's RiverPark 5/12/05 MacFarlane Partners, Urban Partners LLC and Plaza Development Company have formed a joint venture to build a 400-unit, garden-style apartment project within the new RiverPark master-planned community in Oxnard. RiverPark, a 7...
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