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• Beverly Hills Site Trades Hands
9/23/03
Earlier this summer we reported about a piece of high-priced dirt in Beverly Hills that was available in a convoluted sale involving a seller that never took title to the property and had declared bankruptcy to protect its in...
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• Sperry Van Ness Duo Takes Apartment Investor to Trask
9/22/03
Sperry Van Ness' investment pros have been keeping busy, as evidenced by all of the news we get about many of their deals. We've got three more apartment sales to share with you in this report. In the first transaction, a pri...
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• Russian Hill Apartment Complex on the Market for $29 Mil
9/19/03
Brokers at Marcus & Millichap have landed a pair of sizable apartment complex listings in California, one in San Francisco and the other in the LA Basin city of Glendora.
The NoCal property is the Lombard Place Apartments, o...
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• Lend Lease Exec Offers Predictions for Multifamily Industry in 2004
9/18/03
Over 1,500 people attended yesterday's Apartments 2003 Conference at the Century Plaza Hotel in Century, an annual event put on by Marty Stolzoff's Real Estate Conference Group. The all-day seminar featured insightful comment...
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• KB Homes Makes Additional Land Buys in Both Ends of the State
9/17/03
KB Home, one of the country's largest homebuilders, made a couple of recent California land buys for new residential development in the state. In Southern California, the company acquired 94 residential lots from Blackmon Hom...
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• Pacific Property Cruises The Boulevard
9/16/03
Los Angeles-based Pacific Property purchased The Boulevard apartments in Sherman Oaks, a 104-unit garden-style community located at 4440 Sepulveda Blvd, south of Ventura Blvd and immediately east of the 405 Fwy. The seller, a...
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• Equity Residential Fells Mighty Oaks in Santa Clarita
9/10/03
Chicago-based Equity Residential, the nation's largest apartment REIT, just closed on a major SoCal buy, having paid $85 mil for The Oaks of Santa Clarita Apartments, a 520-unit ($163.5k/unit) property in Santa Clarita. Pacif...
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• Multifamily Sales
9/09/03
EL CAJON (San Diego County) – A 36-unit apartment property at 346 S. Mollison Ave sold for $3.03 mil, or about $84.2k/unit. Steve Huffman and Jules Arthur of Hendricks & Partners represented the buyer, Maxim N. Moyal, and the...
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• Five California Regions Head National List of Top Multifamily Seller's Markets
9/08/03
Sperry Van Ness, the Irvine-based investment brokerage firm, announced the results of its study of America's Top 10 Multifamily Investment Markets for 2003. The winner, in the category of Top Seller's Markets is San Francisc...
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• Investor Buys 32-Unit Good House in Anaheim
9/03/03
A private investor looking to complete a 1031 exchange transaction acquired the Buena Casa Apartments in Buena Park for $3.9 mil, or $121.9k/unit. Located at 8071 7th St, north of I-5 and east of Beach Blvd, Buena Casa consis...
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• AvalonBay Sells Amberway
9/02/03
A 256-unit apartment complex in San Diego's University Town Centre area was sold by Northwestern Mutual Life Insurance for $50.8 mil, or about $199.2k/unit. Called Lucera at UTC, the property was sold in two separate transact...
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• Multifamily Notes
8/29/03
WEST LOS ANGELES (Los Angeles County) – A 12-unit apartment complex at 11973 Montana Ave, near Bundy Dr in Brentwood, was purchased for $3 mil ($250k/unit). Built in 1951, the complex consists of 4 one-bedroom/one-bath units,...
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• San Diego Apartment Sales Drop; Permits for New Condos Jumps
8/26/03
A just released report by Burnham Real Estate Services shows that the number of second quarter 2003 apartment sales declined by 31.9 percent from the same three-month period in 2002, although the permits issued for condominiu...
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• August 25, 2003 - $15 Mil San Diego Transaction Leads Apartment Sales Review
8/25/03
A 161-unit apartment complex in the San Diego community of Nestor traded hands for $15 mil ($93.2k/unit). Located at 1910 and 1905-1979 Avenida del Mexico, the property was built in 1984 and consists of three buildings on jus...
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• Downtown Office Building is Now a 322-Unit Apartment Complex
8/22/03
The residential real estate renaissance in downtown LA continues, as another interesting new rental property has hit the market. The KOR Group, a privately held real estate investment and management firm, has just wrapped up ...
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• Shea and Capital & Counties Team up on $70 Mil Mixed-Use Project in Pasadena
8/20/03
Shea Properties has begun construction on an exciting new mixed-use development in Pasadena's Historic Playhouse District. Called Trio, the project comprises an entire city block and will contain 304 apartment units over 14.6...
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• Sperry Van Ness Handles Grande Apartment Sale in Bellflower
8/19/03
Here's a trio of LA-area apartment sales brokered by the investment pros at Sperry Van Ness, the Irvine-based brokerage firm that has grown in size to cover more than 70 markets across the country. Our first stop is in Bellfl...
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• Casden Creates Palace for LA Renters
8/18/03
Casden Properties has wrapped up construction of The Palazzo at Park La Brea, a $250 mil luxury apartment complex at 6220 West Third St, directly across the street from The Grove and Farmers Market, just east of Fairfax Ave. ...
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• August 15, 2003 - A.F. Evans Renting Housewives in Oakland
8/15/03
Following up on a big apartment sale we first reported a couple of weeks ago, San Francisco's A.F. Evans Development Co sold the 450-unit Estancia Apartments in Santa Clara to Englewood, Colo.-based Archstone-Smith, one of t...
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• Here's $233 Mil of LA-Area Apartments on the Market
8/15/03
Many industry experts are telling us that multifamily properties are still the safest investment bet, at least in Southern California, at this point in time, with the economy still trying to shake out of the doldrums. In the ...
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