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• Oceanside has a Run on $17.5 Mil, 136-Unit Apartment Properties
4/27/04
We've got news of two recent $17.5 mil apartment property sales just a few doors apart from each other on Barnard Dr in Oceanside. The properties, which are very similar in age and design, are near Miracosta College, north of...
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• Multifamily Notes
4/26/04
ANAHEIM (Orange County) -- A private investment group paid $15 mil for the Citadel Apartments, a 142-unit apartment community at 144 S. Magnolia Ave in Anaheim. Constructed in 1970, the complex contains 112.9k sf rentable sf ...
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• Equity Residential Goes for a Juicy Valencia
4/22/04
Equity Residential, the nation's biggest apartment property owner, just added a three-year-old Valencia complex to its portfolio, having paid $50 mil for Jefferson at Town Center, a 294 unit ($170k/unit) garden-style apartmen...
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• Low Cap Rates
4/20/04
By William Ktsanes, Director of Research and Analysis
RealFacts
Today, market capitalization rates—or cap rates—are at their lowest levels in over a decade. Nationally, the average cap rate on grade A apartment buildings is ...
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• Rolling Oaks Gathers San Diego Buyer
4/19/04
The ConAm Group of Companies, a San Diego-based real estate investment firm, acquired Rolling Oaks Apartments, a 292-unit institutional multi-housing community in the heart of the North Bay. Strategically located in the rolli...
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• Emerald Ridge Sparkles after $34 Mil Re-fi
4/19/04
Buchanan Capital Advisors has secured $34.5 mil in permanent financing through Deutsche Bank Mortgage Capital for the refinance of Emerald Ridge Apartments, a 350-unit multifamily property in Hacienda Heights. The financing ...
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• New Owners Have Big Plans for Historic Hotel in San Diego's North Park Area
4/16/04
A limited partnership that included Lennar Communities acquired the historic Lafayette Hotel in San Diego's North Park area for $9.6 mil. The building, which has a bit of a checkered history, is slated to be restored and reno...
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• Lennar Spends Over $9 Mil for a Nice Piece of Ash
4/15/04
An entity of real estate giant Lennar Corp recently nabbed all but a 10k sf corner chunk of a full block in downtown San Diego. The site, which is bounded by West Beech, Ash St, Pacific Hwy and California St, is 60k sf in siz...
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• April 14, 2004 - Financing Notes
4/14/04
Walnut Creek-based Inland Mortgage Corporation of Illinois provided first mortgage for the purchase and renovation of a pair of two SoCal apartment properties. The first transaction was a $4.78 mil loan to Landmark Equity Par...
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• Malcolm in the Middle of Folsom Development Site
4/13/04
Here's a quick update on a couple of exciting new residential towers that are planned for San Francisco. One of the projects is a 21-story development proposed for 631 Folsom St, between 2nd and 3rd Streets. Malcolm Propertie...
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• Multifamily Notes
4/12/04
LA MESA (San Diego County) – Saranac Apartments, a 68-unit complex in La Mesa, sold for $6.31 mil ($92.8k/unit). Located at 7080-7138 Saranac St, the complex is made up of two properties, once of which was constructed in 1970...
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• StarPoint Locks Up Latest Acquisition with Le Club
4/09/04
StarPoint Properties, an LA-based real estate acquisition and development firm, recently closed on a large multifamily purchase in Ventura County, having purchased Le Club, a 370-unit complex in the city of Moorpark. Built in...
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• Investor Spends $16 Mil Shopping at Pavilions
4/08/04
A private investor from Yuba City paid $16.2 mil for the Pavilions at Tyson Lane, an 84-unit ($192.9k/unit) apartment complex at 38740 Tyson Lane, south of Peralta Blvd in Fremont. Built in 1992, the property contains a total...
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• San Marcos Apartment Property Fetches $36 Mil
4/07/04
Here's a large multifamily sales comp from San Diego County, as a Rancho Santa Fe investor acquired the 264-unit Mission Park apartment complex in San Marcos for $36 mil ($136.4k/unit). Located at 201-230 Woodland Pkwy, north...
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• Anaheim Renters Relax with more Brandywine
4/05/04
Brandywine Development, a SoCal-based real estate investment firm, paid $15.35 mil for The Cottages, a 128-unit ($119.9k/unit) Anaheim apartment complex. Located on over 10 acres at 425 North Magnolia Ave, between Lincoln and...
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• SoCal Apartment Rents Expected to Jump Over Next Two Years
4/03/04
Southern California's strong economy, continued immigration and a shortage of new units will drive up the region's apartment rents an average 6 to 8 percent over the next two years, according to the Casden Real Estate Economi...
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• Developers Move Forward with Creative Multifamily Infill Projects in LA
4/01/04
Infill multifamily development is one of the hottest segments of the real estate industry right now, especially in Southern California, where there continues to be a shortage of housing units in the most populous parts of the...
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• California Multifamily Sales
3/30/04
FULLERTON (Orange County) –HC Basque Manor LLC, a joint venture between Cypress Equity Investments and Hanover Financial Company, purchased Basque Manor Apartments, an 88-unit property in Fullerton. The complex contains one- ...
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• Archstone Docks $87 Mil for Marina del Rey Apartment Property
3/29/04
Archstone-Smith (NYSE:ASN), the Colorado-based apartment REIT, closed on a major acquisition on LA's Westside, having paid $87 mil for Kingswood Village Marina, a 623-unit ($139.6k/unit) complex in the upscale community of Ma...
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• Buchanan Rolls Dice in Las Vegas
3/24/04
A 200-unit Las Vegas multifamily property called The Palms Apartments was purchased for $8.2 mil ($41k/unit) by a joint venture made up of Buchanan Street Partners and a Sacramento owner of multi-family properties. The acquis...
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