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• Multifamily Briefs
7/11/03
SAN DIEGO - Burnham Capital Markets has arranged an $11 mil loan for the purchase of Playa Blanca Apartments in San Diego by P. Blanca LTD, Cal. L.P, which plans to hold the property as an investment. The 161-unit apartment ...
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• Sares-Regis Takes the Bridge in Huntington Beach Apartment Voyage
7/10/03
The Seabridge Villas Apartment Community, a 344-unit apartment complex situated less than a mile from the ocean in Huntington Beach, has been sold by Northwestern Mutual Life for $63.75 mil. Originally built in 1987, the comp...
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• July 8, 2003 - Buyers of Recent San Diego Apartment Properties Exercise Great CARE
7/09/03
Here's a trio of recent apartment sales comps from San Diego County, starting in Vista, where a California limited partnership paid $9.4 mil for The Meadows Apartments, an 86-unit ($109.3k/unit) complex at 1110-1150 and 1125-...
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• Bascom Adds to Its Portfolio with Buys in Both Ends of the State
7/08/03
Irvine-based Bascom Group has recently closed a couple of newsworthy apartment buys, one near their OC HQ, in Tustin, and the other up in the mid-state city of Fresno. We'll start with the Orange County deal – the bigger of t...
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• July 3, 2003 - Apartment Buyer Crofts a $2.5 Mil Deal
7/03/03
Here's a quick review of three LA-area apartment sales, starting with a 16-unit property at 739 Croft Ave, north of Melrose Ave between La Cienega and Crescent Heights Blvds. A Los Angeles-based private investor paid $2.5 mil...
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• Calabasas Investment Firm Sees Big Upside in LA's Landmark Getty Oil Building
7/02/03
It looks like one of Los Angeles' landmark buildings, the 22-story tower office building that once housed the Getty Oil Company but has sat nearly vacant for over 10 years, is about to get a new lease on life. Calabasas-based...
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• June 30, 2003 - $6 Mil for Three Apartment Properties is Just a Normal Deal in San Diego
6/30/03
A San Diego-based investor was a principal in the purchase of three apartment properties, containing a total of 70 units, for a combined price of $5.85 mil ($83.6k/unit). The properties are located a block north of El Cajon B...
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• Marcus & Millichap Knows SoCal Apartments
6/26/03
The Ontario office of Marcus & Millichap continues to close a number of apartment sales in and around the Inland Empire, and in other parts of Southern California. Although the transaction info is a bit sketchy, here's a quic...
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• Investment Group Pays $5.3 Mil for Granada Apartments
6/24/03
RCMI, a local real estate management group, paid $5.335 mil for the Granada Apartments, a 50-unit apartment complex in the San Fernando Valley community of Sherman Oaks. The price works out to $106.7k/unit or about $146 per n...
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• Financing Notes
6/23/03
Two of SoCal's biggest names in commercial real estate financing – ARCS Commercial Mortgage Company and George Smith Partners (GSP) – teamed up to refinance a 582-unit West Los Angeles apartment complex. Financing of $63.75 m...
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• LA Stories: Downtown Multifamily Activity Increases
6/18/03
The past month or so has been absolutely great if you are a proponent of downtown LA becoming Mecca for that cool hip urban living thing, which we are. Although definitely for people into a lifestyle different from us married...
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• Premier Apartment Trio Selling for Premier Price of $75 Mil
6/17/03
We've got news of a big apartment portfolio listing that Marcus & Millichap has just brought to market. The three-building group of properties is called The Premier Collection and it contains 248 units in total. The seller is...
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• ARCS Makes Short-Term Move to Topanga
6/16/03
ARCS Commercial Mortgage, the big Calabasas-based multifamily lender, has launched a new venture, Topanga Funding LLC, a mezzanine financing affiliate that will provide borrowers with additional short-term financing alternati...
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• Post Paseo Posts $100 Mil Sale
6/13/03
Post Paseo Colorado Apartments, a unique 391-unit Pasadena apartment property just completed a year or so ago, traded hands for $98 mil, or just over $250k per unit. According to a recent article in the LA Times, SSR Realty A...
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• Pan American Lands in Hawthorne
6/12/03
Pan American Properties has purchased La Josetta Apartments, a one-building, 47-unit apartment complex located at 4829 West 120th St, between Inglewood Ave and the 405 Fwy in Hawthorne, for $3.525 mil.
Built in 1974 of woo...
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• NoCal Multifamily News
6/11/03
For any of you looking for an attractive NoCal apartment buy in the $25 mil range, we've got a recent listing to let you know about. Mark Mason and Brad Pennington of Marcus & Millichap are marketing the newly built Lofts at ...
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• San Diego Apartment Demand Remains Strong; Supply more Limited
6/10/03
Burnham Real Estate Services, the San Diego-based commercial real estate services firm, has just released their first quarter 2003 report on the apartment market in San Diego County. The company, which has offices in L.A. and...
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• Tustin Apartment Seller had to Hunt for a Buyer
6/09/03
Hunt Enterprises, a SoCal-based 1031 exchange investor, acquired the Tustin Gardens Apartments, a 78-unit complex at the intersection of McFadden and Pasadena Aves in Tustin. The garden-style property sold for $10.6 mil ($135...
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• Pair of Major SoCal Apartment Properties Sail Out of AvalonBay
6/06/03
AvalonBay Communities, the Alexandria, VA-based apartment REIT, has sold two of its 19 SoCal properties, generating over $100 mil from the combined sales. In one of the sales, an affiliate of Essex Property Trust paid $58.2 m...
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• Multifamily Briefs
6/05/03
MENIFEE (Riverside County) – Denver-based Richmond American Homes purchased 262 single-family detached lots located within the master-planned Menifee community that includes the Menifee Lakes Country club, as well as numerous...
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