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• Multifamily Briefs
2/28/05
LAS VEGAS (Clark County) -- A rare high-rise development site in Las Vegas just ˝ mile off the Strip has been put on the market. Located at 713 E. Sahara Ave, this 13.16-acre parcel currently contains a 200-unit residential c...
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• Revere Rides into Inland Empire Market with $26 Mil in Acquisitions
2/24/05
Cerritos-based Revere Investments LLC recently closed on a pair of Inland Empire apartment properties with a combined 244 units and a total price of $26.4 mil ($108.2k/unit).
One of the properties was Mountainside Village A...
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• Multifamily Briefs
2/23/05
PANORAMA CITY (Los Angeles County) – Village Green Apartments, a 201-unit multifamily complex at 9010 Tobias Ave, sold for $19.2 mil ($95.5k/unit). The Class B community was constructed in 1972 and consists of 50 studios, 103...
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• Classic SF Building Musto Been a Good Buy at $7.25 Mil
2/22/05
Jackson Square Partners, a local development entity led by Douglas Rosenberg, has acquired the 32.4k sf Musto Plaza in San Francisco for $7.25 mil ($224/sf). Rosenberg plans to convert the historic building, located at 717 Ba...
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• SCI Gambles $41 Mil at Bellagio
2/18/05
LA-based SCI Real Estate Investments purchased “Bellagio at Bent Tree,” a 500-unit luxury apartment community in North Dallas, TX, for $41 mil ($82k/unit) on behalf of a tenant-in-common group (TIC) with 23 investors. The pro...
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• Phase II at CIM Group's South Village to Get Underway
2/17/05
The second phase at South Village, the exciting mixed-use project being developed by CIM Group in Downtown LA's South Park area, is about to get underway. Under a revised plan, the 7.2-acre site will contain 267 condominiums ...
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• Archstone-Smith Up an Oak Creek in Agoura Hills
2/16/05
Archstone-Smith, the Denver, CO-based apartment REIT, has acquired Oak Creek Apartments, a brand-new 336-unit luxury multifamily complex in the Conejo Valley community of Agoura Hills, for $99.6 mil ($296.4k/unit). Oak Creek ...
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• SF Valley Apartment Buyer Sees a Lot of Upside in $8 Mil Purchase
2/15/05
Jade Pacific Investments acquired Valerio at Reseda, a 58-unit apartment complex for $8.35 mil ($144k/unit). The property, located at 18445 W. Valerio St, east of Reseda Blvd and north of Sherman Way, was sold by Calabasas-ba...
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• San Diego Apartment Buyers and Sellers Part of Adams' Family
2/14/05
Kuhio Partnership completed the second leg of a 1031 exchange by acquiring Avalon Gardens Apartments, a 21-unit complex in the city of Vista, for $2.35 mil ($111.9k/unit). The property, which was constructed in 1988, is locat...
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• Archstone-Smith Pays $134 Mil for 500k sf Pasadena Project Under Construction
2/11/05
Denver, CO-based Archstone-Smith has acquired Del Mar Station, a 500k sf transit-oriented mixed-use project in Pasadena, midway through development for $134 mil. It was sold by an Urban Partners-led venture, which first broke...
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• Forest City Nabs LA Condo Conversion Tower
2/10/05
A Forest City Development entity purchased The Wilshire at Western, a condo conversion project of the former Getty Oil Company building in Los Angeles. The 22-story tower, located at 3800 Wilshire Blvd, across the street from...
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• Sherwin-Williams to Apply Master Stroke to Emeryville Site
2/09/05
Sherwin-Williams Company, the well-known paint firm, has proposed a plan to develop a mixed-use project on its existing 8.5-acre factory site in the city of Emeryville. The project, which has been submitted to the city, would...
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• Multifamily News Briefs
2/08/05
OXNARD (Ventura County) – Beverly Hills-based Sea Breeze Land Partners paid $9.7 mil for Sea Breeze, a 92-unit ($105.4k/unit) apartment property at 3530-3660 Samuel Ave. The seller was Sea Breeze Associates LP, out of Los Ang...
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• Eagle Soars Over Vegas
2/07/05
Eagle Real Estate Group has purchased Camden Harbor, a 560-unit multifamily community on 26.2 acres at 9000 South Las Vegas Blvd in Las Vegas. The complex, which sold for $67.2 mil ($120k/unit), is situated near 1-15, I-215, ...
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• Sacramento-Area Buyers Find Fairhaven for $4 Mil
2/03/05
Here's the scoop on a couple of Sacramento-area multifamily sales, one for a retirement community and the other for a 24-unit apartment property. In the larger of the two deals, Carmichael, CA-based Artisan Development paid $...
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• Bascom Closes another Big Lancaster Buy
2/02/05
The Bascom Group has made a second substantial acquisition in Lancaster, having paid $38.75 mil for the Woodcreek Apartments, a 416-unit ($93.1k/unit) complex at 43530 Gadsden Ave. The seller was NY-based Tarragon Corporation...
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• Multifamily Briefs
2/01/05
RIVERSIDE (Riverside County) -- Here's an opportunity to pick up an under-$10 mil apartment buy in what is ranked as the hottest multifamily market in the country, that being the Inland Empire. The property is the Golden Oaks...
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• Apartment Investors Know the Way to San Jose
1/31/05
The San Jose apartment market has moved up three places in Marcus & Millichap's National Apartment Index, ending the year at No. 22, up from No. 25 one year earlier. The Index, which ranks 42 apartment markets based on a seri...
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• RealFacts Shares the Real Facts about Remaining Condo Conversion
1/28/05
RealFacts, the highly regarded NoCal-based apartment data provider, has distributed some brief comments about market performance from the past year and some thoughts on what's in store for the booming condo conversion craze i...
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• Multifamily Briefs
1/25/05
BEVERLY HILLS (Los Angeles County) – The Gabor Living Trust paid $2.1 mil for a 6.8k sf ($309/sf) multifamily building at 156 S. Crescent Dr in Beverly Hills, originally constructed in 1926. The buyer also owns the building n...
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