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• Financing Notes
12/07/05
Fremont Investment & Loan provided $109 mil in financing to Port Kihei Investments Inc for the conversion of the 425-unit Emery Bay Club Apartments in Emeryville to condominiums. The project, which was built in 1989, was map...
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• December 7, 2005 - Trio of Bay Area Apartment Properties Trade Hands
12/07/05
Here's a trio of recent Bay Area apartment sales comps, brokered by Marcus & Millichap, the national investment services firm. The deals are in the towns of Santa Clara, San Jose and Belmont.
In Santa Clara, The Redwood Grov...
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• Koll and Starwood Team Up in Beachfront Cabo Rez Project
12/06/05
A partnership of The Koll Company and Starwood Capital Group Global LLC has purchased the 22-acre oceanfront site of the landmark Hacienda Hotel in Cabo San Lucas, the popular tourist destination at the tip of Mexico's Baja p...
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• Seattle Firm Spends $64 Mil on Big Hollywood Production
12/05/05
Seattle-based Security Properties Inc has acquired Serravella, a 298-unit apartment complex located at 1710-1720 N. Fuller Ave, just north of Hollywood Blvd in Hollywood. The complex sold for $64.25 mil, or about $215.6k/unit...
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• Multifamily Briefs
12/02/05
LOS ANGELES (Los Angeles County) -- BRE Properties Inc purchased Palm Court, a 128-unit LA apartment complex, for $26.6 mil ($207.8k/unit). Built in 1987, Palm Court is located at 323-333 S. Catalina St, three blocks west of ...
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• Multifamily Briefs
11/30/05
CULVER CITY (Los Angeles County) – A 60-unit apartment complex at 3902-3920 Lenawee Ave has been listed for sale at a price of $14 mil, or about $233.3k/unit. Known as Keswick Court, the property was built in 1957 and consist...
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• Draftsmen & Craftsmen
11/29/05
Framing has reached the midway point at Hillside, the first residential building in Phase II of La Costa Glen Carlsbad, a continuing care retirement community. The new construction marks the first wave of expansion for the s...
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• 442-Unit Scottsdale Complex Sells for $120k/unit; Will Undergo Condo Conversion
11/28/05
A partnership of Crown Pacific Properties LLC (CPP) and AEW Partners IV LP collected $53 mil from the sale of the Sunscape Apartments, a 442-unit ($119.9k/unit) complex located at 3500 North Hayden Rd in Scottsdale, AZ. The p...
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• Historic Desmond's Tower Building Truly Becomes a Legacy
11/23/05
Foster City-based Legacy Partners recently acquired The Desmond's Tower, a historic Art Deco landmark located at 5514 Wilshire Blvd on LA's “Miracle Mile area, between Fairfax and La Brea Aves. The company plans to restore th...
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• New Luxury Residential Hotel Breaks Ground in West Hollywood
11/22/05
Palisades Development Group has broken ground on Palihouse West Hollywood, a new take on the luxury residential hotel concept. Opening in mid-2007, the 45k sf building on Holloway Dr will consist of 21 urban-inspired guest s...
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• Multifamily Briefs
11/21/05
WASCO (Kern County) – Parkview Mobile Home Estates, an 84-space mobile home park at 1601 Poso Dr in Vallejo, was sold for $3.32 mil ($39.5k/space). The eight-acre property, which is located near the 99 Fwy, has 42 doublewide ...
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• Brentwood Capital Acquires Citizen News Building in Hollywood
11/18/05
The Citizen News Building, a 43.6k sf Hollywood office building constructed back in 1931, was purchased for $8.1 mil ($180/sf) by Brentwood Capital, an investment fund led by Richard Ziman, founder and CEO of Arden Realty. Th...
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• Multifamily Briefs
11/17/05
NATIONAL CITY (San Diego County) – A California-based investment entity paid $8.5 mil for the Chateau Gardens, an 84-unit ($101.2k/unit) apartment complex at 2424-2440 E. Eighth St. The two-story complex was constructed in 19...
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• CA Housing Affordability Index at 15% for September
11/16/05
The percentage of households in California able to afford a median-priced home stood at 15 percent in September, a 4 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, accordi...
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• Multifamily Briefs
11/15/05
NORWALK (Los Angeles County) – A 95-unit apartment property in the city of Norwalk has been listed for $12.5 mil, or about $131.6k/unit. Called the Parkwood Apartments, it is located at 14717 Pioneer Blvd. Built in 1963, Park...
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• Urban West Begins Work on New Residential High-Rise Project in San Francisco
11/15/05
Urban West Associates, the San Diego-based developer who purchased the Bank of America clock tower building in 2003, is breaking ground on a two-tower residential development that, when completed in 2007, will become one of S...
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• Western National's Fund I Achieves $50 Mil Goal
11/14/05
Western National Realty Advisors has completed its third and final close on its Western National Realty Advisors' Fund I, attaining its $50 mil goal. The company is an entity of Western National Group, which is headquartered ...
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• Multifamily Briefs
11/11/05
TOLUCA LAKE (Los Angeles County) – A 40-unit apartment property in Toluca Lake has been listed for sale with an asking price of $10.85 mil ($271.3k/unit). The complex, called Toluca Palms Apartments, is located at 10650-10656...
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• Western Pacific Gives to Charities for Condo Project
11/10/05
Western Pacific Housing Inc has purchased the American Red Cross and American Heart Association building sites, along with an adjacent parcel of land located in San Diego's Hillcrest area, in related but separate deals totali...
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• Latest M&M's are No Halloween Leftovers
11/09/05
The pros at Marcus & Millichap, the national investment brokerage firm, tend to land a lot of the big multifamily listings throughout the state. In this report, we'll take a quick look at three of their more interesting listi...
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