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• Financing Notes
3/25/03
We've got more California closings to report from ARCS Commercial Mortgage, the big Calabasas-based multifamily lender. Here's the latest collection of deals:
$3.1 mil for the Sandpiper Apartments, an 80-unit property in Sac...
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• Whittier Apartment Property Sells for $11.35 Mil
3/21/03
A 135-unit Whittier apartment property traded hands between two local SoCal private investors. Known as Villas Los Pinos, the property sits on nine contiguous sites and sold for $11.35 mil, or $84.1k per unit. Built in 1959, ...
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• Multifamily Briefs
3/18/03
SANTA CLARITA (Los Angeles County) – KB Home paid about $15 mil for 84 single-family lots within Tesoro del Valle, a highly amenitized, master-planned community of about 1,000 homes at the northern end of Santa Clarita. The c...
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• March 17, 2003 - Cottage Industry
3/17/03
John H. Olson Family Limited Trust sold Cottage Square Apartments in Sacramento to private investor Alegria Hipalito for $1.73 mil. Carl Greenhalgh and Walter Helm of Sperry Van Ness represented the trust, while Escober repre...
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• Fountain Glen Acquires 6.5 Acres in Valencia
3/13/03
The Valencia Company sold another small chunk of Santa Clarita for new residential development, as Fountain Glen Properties paid $6.8 mil for 6.5 acres ($24/sf) of vacant land at the northeast corner of Sunny Creek Dr and DeC...
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• Investors Spend $7.65 Mil for POTLOC Offering in Alhambra
3/11/03
Private investors Jack Varma and Ahmed Hassan paid $7.65 mil for Jade Gardens, a one-building, 78-unit ($98k/unit) apartment community located at 109 S. Almansor Street, between Main St and Mission Rd in Alhambra. Built in 19...
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• Sares-Regis Gets Square Deal in LA's Mid-Wilshire Area
3/10/03
Irvine-based Sares-Regis Group, along with financial partner Invesco Realty Advisors, recently wrapped up an investment in LA's Mid-Wilshire District, having paid $15.4 mil ($108.5k/unit) for the Virgil Tower and Virgil Squar...
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• Multifamily Briefs
3/07/03
BEVERLY HILLS (Los Angeles County) – A development group is eyeing Hustler Magazine publisher Larry Flynt's 207k sf office building at 8484 Wilshire Blvd for conversion to a hotel or condo project. According to a recent piece...
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• J.H. Snyder to Develop $40 Mil Mixed-Use Project in Beverly Hills
3/06/03
J.H. Snyder Company, one of LA's most prolific developers, is about to move forward with an exciting new mixed-use development in Beverly Hills, which will include the first new apartments to be built in the city in 21 years....
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• SoCal Investor Kan Buy Pasadena Apartment Complex
3/04/03
SoCal-based Kan Investments LTD LLC closed on the purchase of a Pasadena multifamily complex, having paid $10.6 mil for the Waterstone at Pasadena Apartments. Containing 84 units ($126.2k/unit), the property is at 110 El Nido...
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• Residential Builders Stowe Away More Riverside County Sites
2/28/03
Here's a little bit of good news for SoCal's undersupplied residential markets, as Stowe-Passco Development (SPD) has just sold three residential development sites in separate deals, with a combined value of about $10 mil. Al...
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• OC Investors Star in Their Own Melrose Place
2/27/03
Here's a quick review of a few recent apartment sales from two of SoCal's busiest regions, San Diego and Orange Counties. We'll lead off with the Orange County deals, first in Buena Park, as a pair of local investors paid $4....
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• New Owner Heads to the Mound in South Pasadena
2/26/03
A private investor paid $1.97 mil for a 20-unit ($98.5k/unit) apartment complex located on 1101-1105 Mound Ave, between Mission St and Monterey Rd in South Pasadena. The two-story 15.5k sf Spanish-style building is centrally...
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• Multifamily Briefs
2/20/03
SANTA ANA (Orange County) – A two-building, 20-unit apartment community at 722 and 730 South Raitt, at McFadden Ave, was purchased by a private investor for $1.57 mil ($78.5k/unit). The property was 100% leased at the time of...
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• CT Finds a Safe Arbor in Warner Center
2/14/03
Newport Beach-based CT Realty has made another investment in the western San Fernando Valley, paying $34 mil for the Arbors at Warner Center, a 250-unit ($136k/unit) apartment community at 6333 Canoga Ave, between Erwin St an...
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• San Francisco Bay Area Ranked as Top Seller Market for Multifamily Investments
2/13/03
Sperry Van Ness, the OC-based investment brokerage firm, just announced the results of its study of America's Top 10 Multifamily Investment Markets for 2002. The winner, in the category of Top Seller's Markets is the San Fra...
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• St. Clair Makes $18 Mil Norco Buy
2/11/03
The St. Clair Company, a Newport Beach-based developer active in SoCal and Aspen, Colorado, acquired a 425-acre Norco site in December for a residential development. According to a recent article in the OC Business Journal, S...
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• Financing Notes: Unique Apartment Developer Makes Splash with 7 Fountains
2/10/03
By Allen Wolfsheimer
allenw@rentv.com
This report of a West Hollywood family property that was recently redeveloped into a truly unique apartment complex is an interesting real estate story that belongs not only in our Finan...
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• Olson Company Buys Last Parcel at Dinkler Ranch for $2.37 Mil
2/07/03
The Olson Company, a Long Beach-based developer, just closed escrow on a unique 3.1-acre parcel in the city of Anaheim, in an acquisition that cost them $2.375 mil ($17.50/sf). Olson plans to move forward with a residential d...
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• CIM's Latest Downtown Los Angeles Plans are Just Grand
2/06/03
By Harvey Moss
hmoss@rentv.com
Like the proverbial snowball picking up speed and increasing in size as it races downhill, there's no stopping the growing momentum that has generated numerous redevelopment projects, designed ...
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