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• Costa Mesa Complex Sells for $138k/Unit
1/22/04
Here's a nice-sized Orange County apartment comp to kick off the year. Richmond, VA-based United Dominion Realty Trust paid $14.35 mil for the Missions at Back Bay apartments, a 104-unit ($138k/unit) complex located at 1330 S...
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• The Big December Multi-Family Deals We Missed
1/21/04
We sure have been putting out more and more multifamily news articles over the past few months, but no one can get it all. But in our attempt to try, at least for the big stuff, we'll give credit to the various business journ...
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• Investors to Dip into $215 Mil Carmel Fund
1/21/04
San Francisco-based Carmel Partners Inc secured $215 mil in equity commitments to invest in apartment properties primarily in the Western U.S., including the San Francisco Bay Area and Sacramento. Company officers estimate th...
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• Projects West Heads into Reseda and Redlands
1/20/04
Calabasas-based Projects West Construction has begun work on two new SoCal multi-family projects totaling 140 units. The projects, Valerio at Reseda in Reseda and Cypress Villas in Redlands, have a combined contract value of ...
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• NoCal Financing Notes
1/14/04
Calabasas-based ARCS Commercial Mortgage Co just closed a $91 mil funding for a portfolio of multifamily properties in Northern California. The portfolio consisted of a total of nine properties totaling 1554 units in Sunnyval...
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• JMI Sells New 346-Unit Luxury Apartment Development
1/13/04
An investment partnership closed on a $58.5 mil multifamily acquisition in the Ocean View Hills area of San Diego by purchasing Casoleil, a new 346-unit ($169.1k/unit) luxury apartment community located at 110 Dennery Rd. Cas...
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• Bascom Closes Out the Year with another $43 Mil of SoCal Apartments
1/12/04
Only a couple days after we reported about Bascom Northwest Ventures' $6.125 mil purchase of a Fremont apartment complex, we've got news of a pair of larger SoCal multifamily acquisitions by the Irvine-based investment firm. ...
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• Hendricks Brokers Prove They're Experienced
1/09/04
Hendricks & Partners, the national multifamily brokerage firm, has let us know about a trio of smaller SoCal apartment sale comps, two from the San Diego city of El Cajon and one from Costa Mesa. In the larger of the El Cajon...
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• Turek Rocks with Granite and Village People in OC Buys
1/08/04
Here's the scoop on a couple of $10.5 mil, 4th Quarter apartment sales in Orange County, one in Huntington Beach and the other in Buena Park. Both transactions were brokered, at least in part, by Brad Turek of Investors Group...
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• Bascom Ventures into the Bay Area
1/06/04
Central Crest Apartments, a 62-unit apartment complex in the Bay Area city of Fremont, was acquired by Bascom Northwest Ventures LLC for $6.125 mil, or $98.8k/unit. Located at 4401 Central Ave, just east of I-880, the propert...
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• January 5, 2004 - Heading Upstream
1/05/04
A Los Angeles investment group calling itself Upstream LLC has purchased a 40-acre quarry south of Petaluma for development of a residential subdivision. The group paid $11 mil, or $5.75/sf, for the Petaluma Quarry west of Hw...
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• Expect Job Growth and Increasing Apartment Prices in Bay Area for 2004
12/30/03
Marcus & Millichap's recently released Apartment Research Report for the Bay Area predicts that both San Francisco and Oakland are expected to register job growth next year, and that deteriorating fundamentals have not affect...
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• Pair of SoCal Apartment Comps
12/29/03
A private investor paid $2.9 mil for Compri Apartments, a 24-unit ($120.8k/unit) complex at 3504 W. Commonwealth, adjacent to the Fullerton Municipal Airport in Fullerton. Originally built in 1978, the two-building property i...
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• Santa Barbara County No Longer Steaming Over Rice Ranch Development
12/25/03
The Santa Barbara County Board of Supervisors recently gave the final approval for McCadden Development LLC's Rice Ranch project. The development, which will be the largest residential project in the county's history, will cr...
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• Obsolete Lincoln Heights Building to Become a Livable Place
12/24/03
A four-story, 130k sf industrial building in LA's Lincoln Heights area is to be converted into a “mixed income” loft-for-sale complex, after being acquired for $4.4 mil by Fuller Lofts LLC. The property, which sits on 1.5 acr...
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• December 22, 2003 - Transitory Ownership
12/22/03
San Diego-based Fairfield Residential LLC has acquired Del Norte Place, a transit-based residential project in El Cerrito, for $20.3 mil. The seller was a public/private partnership formed by the Ibex Group of San Francisco a...
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• Hendricks' Negotiates the Louisiana Purchase!
12/17/03
Hendricks & Partners, a leading real estate services firm that specializes in multifamily deals, continues to close sales deals around the country. Here are examples of a couple of recent California transactions, one in each ...
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• Multifamily Briefs
12/15/03
WHITTIER (Los Angeles County) -- A Phoenix, AZ buyer paid $16.2 mil for Kendallwood Apartments, a 120-unit ($135k/unit) apartment complex at 10522 Santa Gertrudes Ave, north of Whittier Blvd in Whittier. The property had unde...
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• CT Makes $7.8 Mil Inland Empire Buy
12/12/03
Newport Beach-based CT Realty Corp paid $7.8 mil for the Corona Village Apartments, an 83-unit ($94k/unit) apartment community at 901 S. Smith Ave in the Inland Empire city of Corona. The six-building complex sits on more tha...
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• Renovated Pasadena Apartment Property Sells for $93k/Unit
12/11/03
It seems that as soon as we publish news of recent apartment sales negotiated by brokers at Sperry Van Ness we receive word of more deals. Here's a quick review of three SoCalComps, one from Pasadena and the other two from th...
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