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• Lennar/Newhall Land Acquires Prado Town Center
10/03/05
Lennar/Newhall Land has purchased Prado Town Center, a mid-rise residential development in Valencia. Completed in 2004, the four-story project is located at 24555 Town Center Dr and consists of 341 luxury units above 9.3k sf ...
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• Capstone and Trimark Team Up in $56 Mil Santa Clarita Townhome Project
9/30/05
Capstone Advisors and Trimark Pacific Homes have formed an equity joint venture for the development of Valle di Oro, a 111-unit townhome community in Santa Clarita. When complete in 2007, the project will be valued in excess...
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• Financing Notes
9/29/05
20/20 Properties, a Vancouver, Canada-based development firm formed by Ian Mallmann and John Murphy, has acquired Springs at Arrowhead Towne Center Apartments, a 360-unit complex located at 17722 North 79th St in Glendale, AZ...
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• SVN Equities Closes $17 Mil Savannah Acquisition
9/29/05
SVN Equities has acquired Savannah Court, a 195-unit NoCal apartment community, for $17.75 mil, or about $91k/unit. The property is located at 4337 Norwood Ave in Sacramento, home to the Governator. Built in 1986-1988, the ...
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• Capstone Spends $33 Mil on Lots of Lots
9/28/05
Capstone Advisors has paid $33.6 mil for 682 lots and six existing model homes within the partially constructed Rio Vista Village master-planned community in Cathedral City, south of Palm Springs in Riverside County. Capstone...
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• JPMorgan Picks Up Napa Valley Apartment Complex
9/27/05
JPMorgan Real Estate has acquired Montrachet Apartment Homes, an exclusive 200-unit luxury apartment community in Napa Valley, on behalf of its institutional clients. The property, which was completed in 2004, traded for $45 ...
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• Hendricks is Experienced at Multifamily Deals
9/27/05
Here's a sampling of some of the recent multifamily sales brokered by Hendricks & Partners, the national apartment brokerage firm. The deals include a couple of larger sales in Arizona, along with some smaller comps from LA, ...
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• San Jose Brickyard Fetches $47 Mil
9/26/05
The Apartment Marketing Group, a division of San Francisco-based Arroyo & Coates, recently brokered two NoCal apartment sales, one in San Jose and the other in Sacramento. Together, the deals were valued at over $68 mil.
In ...
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• Modest Appreciation Predicted for CA Home Prices in 2006
9/23/05
Is 2006 the year that California's housing boom goes bust, or will the country's unprecedented period of price appreciation continue? There are countless opinions on that subject, including the latest forecast from the Califo...
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• Kennedy Wilson Venture Investing $125 Mil in Alameda Residential Complex
9/22/05
Kennedy Wilson's West Coast Acquisition and Asset Management Group (WCAAM) has purchased Harbor Island Apartments, a 615-unit, 19.7-acre residential complex in the East Bay city of Alameda. The property, which was acquired in...
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• Latest Condo Conversion Located on Famous Hollywood KOR-ner
9/21/05
Another major residential conversion is soon to get underway in the LA area, as The KOR Group will convert the famed Broadway Hollywood department store at Hollywood and Vine into a 96-unit condo project that will include a r...
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• Shea Wins another Award for City Lights
9/20/05
City Lights, a 793-unit apartment community owned by OC-based Shea Properties was given Reader's Choice Award for “Best Apartment Community” in Orange County. The Orange County Register presented the honor as part of its 12th...
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• Apartment Renters Seem to Know the Way to San Jose
9/19/05
Occupancy rates in San Jose's apartment market is expected to continue improving over the next year, thanks in great part to soaring single-family home prices and the return of employment growth, according to the latest Apart...
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• Multifamily Briefs
9/15/05
LAKESIDE (San Diego County) -- Marilla Manor Apartments, a 54-unit complex on 1.3 acres at 9760 Marilla Dr, has been sold for $4.4 mil ($81.5k/unit). The complex is made up 36 large studio units with oversized kitchens. In ad...
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• Inland Empire Apartment Market Continues to Sizzle
9/14/05
The Riverside/San Bernardino apartment market is expected to outperform other regions around the nation due to robust economic expansion and limited new supply, according to the latest data from Marcus & Millichap.
The In...
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• CA Housing Affordability Remains at 16%
9/13/05
The percentage of households in California able to afford a median-priced home stood at 16 percent in July, a 3 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, according to...
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• San Francisco Apartment Market is Picking Up
9/12/05
The San Francisco apartment market is beginning to reflect improving economic fundamentals, according to the latest Apartment Research Report for the city from Marcus & Millichap. Occupancy is on track to firm slightly this y...
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• Multifamily Briefs
9/09/05
LAS VEGAS (Clark County) – Ridge Villas LLC, out of San Diego, paid $24.45 mil for Amber Ridge, a 316-unit ($77.4k/unit) complex at 346 Sturgeon Lane. Brian Anderson and Carl Sims of Hendricks & Partners brokered the deal on ...
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• ICO Development Charged Up over Leasing at Pacific Electric Lofts
9/06/05
Although not officially opened yet, the newly completed Pacific Electric Lofts in downtown Los Angeles is already about 58% leased. The oldest downtown office building to be converted to residential use, it also has emerged a...
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• Multifamily Sales Update
9/01/05
PLACENTIA (Orange County) – Archstone-Smith paid over $77 mil for Somerset Park, a 416-unit ($185.1k/unit) apartment property at 310 S. Jefferson St, at the corner with Orangethorpe. Built in 1986, the property was around 95%...
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