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New Construction of Major Apartments in Western Region at 10-Year Low in 2003 12/10/03 By Caroline Latham
CEO
RealFacts
Year-end figures emphasize how cautious developers have been in 2003. We're still checking to make sure we've got all the complexes that opened this year, but the drop in new construction has...
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Investor Pays Almost $20 Mil for 175-Unit San Diego Complex 12/09/03 A California limited partnership paid $19.6 mil for the Parkwood apartment complex, a 175-unit ($112k/unit) property at 6401 Mount Ada Rd in San Diego. The 30-year-old complex is in the Clairemont section of town, east of Gen...
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December 8, 2003 - Multi-Family, Multi Deals 12/08/03 On the Northern California residential front, Pulte Homes purchased a 65.3k sf industrial building at 1249 67th St on the Oakland/Emeryville border. The homebuilder paid $6.45 mil for the 2.84-acre property, which was bought ...
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Apartment Sales in San Diego Slows Although Demand Remains High 12/05/03 A just released report from Burnham Real Estate Services, a leading Southern California firm, shows that the 299 sales of apartment properties in the third quarter of 2003 represents a 3.9% decline from the same period a year...
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San Diego Apartment Buyer Rides into the Sunset 12/03/03 In a San Diego-area apartment buy, a local buyer paid $18.25 mil for Sunset Village, a 144-unit ($126.7k/unit) property in San Ysidro. The property is at 3560 Sunset Lane, between I-5 and I-805, a short distance north of the ...
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San Diego Apartment Market Remains Among the Best in the Nation 12/01/03 Marcus & Millichap Real Estate, the California-based investment brokerage firm, recently released its Apartment Research Report for the San Diego market, which indicates that low housing affordability and forecasts for employ...
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Land Ho! 11/28/03 By Allen Wolfsheimer
It's not news to anyone with some grasp of the major economic issues in this great state of ours that at the center of California's housing crunch is the shortage of developable land in most of the state...
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Inland Empire Multifamily Market Still Offers Plenty of Upside 11/25/03 For anyone looking to invest a mil or more in multifamily property, the inland markets of the San Gabriel Valley, and especially the Inland Empire, provide plenty of properties that many pros would say still offer a substanti...
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It's a Sperry Busy Apartment Market in Southern California 11/24/03 We can hardly go a day without hearing news of another SoCal apartment or retail sale brokered by some of the folks over at Sperry Van Ness (SVN), the Irvine-based real estate services firm. In this report, we'll share a few ...
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Advanced Negotiations Lead to $20 Mil Apartment Sale in Yorba Linda 11/19/03 Rick Julian of Lake Forest-based Advanced Real Estate Services paid $20.5 mil for Yorba Linda Pines, a 120-unit ($170.8k/unit) apartment complex at 18700 Yorba Linda Blvd, east of Lakeview Ave in Yorba Linda. The project was ...
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What's Happening with Sale Prices? 11/18/03 By Caroline Latham
CEO
Realfacts
With the end of the year little more than six weeks away, we are starting to think about the year- end summary of sales for 2003. We are still collecting data, so the results discussed below ...
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Oak Street Village to be the New Standard in Torrance 11/17/03 The city of Torrance is looking to add to its housing stock, as the City Council there approved development of a new 276-unit townhome/condominium community called Oak Street Village, to be built by Standard Pacific Group's U...
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Horton Buys Land for Big Log Cabin 11/14/03 D.R. Horton Inc, one of the largest home builders in the country, has made a couple of major land buys in Nevada's Clark County for construction of new residential developments near Las Vegas. One of the acquisitions was a $3...
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Latest Bascom Purchase is Smooth as Silk 11/13/03 The Bascom Group is in the news again, as the Irvine-based investment firm has purchased a three-property, 517-unit apartment portfolio in the Fresno area for $24.5 mil ($47.4k/unit). The acquisition, which just closed on Nov...
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CB Team Brokers Pair of Big SoCal Apartment Sales 11/12/03 CB Richard Ellis' Southern California Multi-Housing Partners team, led by Sean Deasy, wrapped up a couple of major SoCal apartment sales, with a combined price of about $120 mil, over the past couple of months. In one deal, t...
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First Avenue Ventures into Vista 11/11/03 A California limited partnership called First Avenue Venture LP paid $26.75 mil for the Mariposa Apartments, a 264-unit ($101.3k/unit) complex at 221 Smilax Rd, by Santa Fe Ave in the city of Vista. The garden-style complex, ...
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Trophy Buy in San Francisco 11/10/03 Trophy Properties LLC, a NoCal-based investment entity, has acquired a portfolio of four apartment properties in the upscale San Francisco neighborhoods of Marina, Cow Hollow and Pacific Heights. Trophy paid $17.1 mil for the...
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$8.5 Mil Homecoming in San Diego 11/07/03 Here's a quick review of a trio of apartment sales comps from San Diego County. We'll start with the biggest deal, the $8.5 mil purchase of Home Park Village Apartments, an 86-unit ($98.8k/unit) complex at 4641-4677 Home Ave,...
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Essex Cracks Walnut Market 11/06/03 Essex Property Trust and The Bascom Group, a pair of California-based real estate firms, were on opposite sides of the negotiating table in the recent sale of Walnut Heights Apartments, a 163-unit building at 20700 San Jose H...
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$3 Mil Gets Private Investor a Nice Patio in Westminster 11/05/03 Here are two recent SoCal apartment buys brokered by Sperry Van Ness. The larger transaction was in Westminster, where Joseph Cavallo paid $3.09 mil for El Patio Apartments, a 26-unit ($119k/unit) complex at 7221 Trask Ave, s...
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