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• Granite Invests Solid $25 Mil in Santa Ana Apartment Property
5/25/04
The multifamily pros at Hendricks & Partners keep closing apartment deals here in the Southland. Here's a quick recap of four recent transactions. The largest was in Santa Ana, where Irvine-based Granite Investment Group paid...
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• Bascom Docks $26 Mil at Harbor Cove
5/24/04
The Bascom Group just closed on a $26 mil SoCal apartment buy, having acquired the Harbor Cove Apartments, a 161-unit ($161.5k/unit) oceanfront community in Redondo Beach. The complex is located at 211 Yacht Club Way, by Harb...
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• Lennar Looking to Redevelop Irvine Site into Multifamily Housing
5/21/04
Irvine businesses should start planning for a lot of new neighbors, as the move to build new multi-unit housing within this business-oriented city is picking up steam. Pulling some headline news from a recent edition of the O...
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• Financing Notes
5/20/04
Mountain Funding LLC has acquired a 50% participation in a $13.725 mil mezzanine loan previously originated by Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services for The Mills at Cortez Hill, a 133...
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• Here's an Opportunity to Park $12 Mil in Park Murietta
5/19/04
Park Murietta, a 33-unit luxury condo complex in the San Fernando Valley community of Sherman Oaks has been put on the market with an asking price of $12 mil, or roughly $363.5k/unit. The property is located at 4532 Murrieta ...
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• Multifamily Notes
5/17/04
WALNUT (Orange County) – An 18.26-acre parcel of raw land in the city of Walnut traded hands for $4 mil, or about $5/sf. The land, which was purchased by a local unnamed municipality, is currently zoned for low-density reside...
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• Eagle Soars after $56 Mil Sale of Ontario Apartment Portfolio
5/14/04
Eagle Real Estate Group has sold its five-property, 589-unit Ontario portfolio to Invesco/Beneke Krieg for $56.3 mil ($95.6k/unit). In 39 months, Eagle produced an annual return for its equity partner of 28.33%, for an overal...
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• Multifamily Notes
5/12/04
SAN DIEGO (San Diego County) – A San Diego-based investment entity paid $27.5 mil for Cumberland, a 144-unit ($191k/unit) apartment property at 8213 Jade Coast Rd in San Diego. Steve Huffman, Jules Arthur and Dick Bassett of ...
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• The Natural Rate of Vacancy
5/11/04
By William Ktsanes, Director or Research and Analysis
RealFacts
After releasing our 1st quarter 2004 data last month we naturally fielded questions about apartment occupancy levels. While most people knew occupancy changes c...
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• Van Nuys Seniors Complex Listed for $18.5 Mil
5/05/04
With apartment properties being in considerable demand of late, we though you might be interested in a couple of recent SoCal listings in the $10 mil - $20 mil range. The listings, which are both being marketed by Marcus & Mi...
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• $19 Mil Sherman Oaks Apartment Buy is Just Grand
5/04/04
In this report we'll review a number of interesting multifamily news briefs in the state, starting down in San Diego, where a California limited liability company paid $19 mil for the Parkview Village Apartments complex, a 12...
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• Buyers of $12.5 Mil Scripps Ranch Complex are Planning a Condo Conversion
4/29/04
A California limited liability company paid $12.5 mil for the Scripps Mesa Apartments, a 62-unit ($201.6k/unit) complex at 9929 Erma Rd in Scripps Ranch, with plans to convert the property into condos. There is already a cond...
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• San Diego Apartment Investors Give It the Old College Try
4/28/04
In San Diego's Oak Park area, near the western borders of La Mesa and Lemon Grove, a California limited partnership paid $25 mil for the College Park Apartments, a 160-unit ($156.3k/unit) complex at 6333 College Grove Way, no...
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• Oceanside has a Run on $17.5 Mil, 136-Unit Apartment Properties
4/27/04
We've got news of two recent $17.5 mil apartment property sales just a few doors apart from each other on Barnard Dr in Oceanside. The properties, which are very similar in age and design, are near Miracosta College, north of...
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• Multifamily Notes
4/26/04
ANAHEIM (Orange County) -- A private investment group paid $15 mil for the Citadel Apartments, a 142-unit apartment community at 144 S. Magnolia Ave in Anaheim. Constructed in 1970, the complex contains 112.9k sf rentable sf ...
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• Equity Residential Goes for a Juicy Valencia
4/22/04
Equity Residential, the nation's biggest apartment property owner, just added a three-year-old Valencia complex to its portfolio, having paid $50 mil for Jefferson at Town Center, a 294 unit ($170k/unit) garden-style apartmen...
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• Low Cap Rates
4/20/04
By William Ktsanes, Director of Research and Analysis
RealFacts
Today, market capitalization rates—or cap rates—are at their lowest levels in over a decade. Nationally, the average cap rate on grade A apartment buildings is ...
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• Rolling Oaks Gathers San Diego Buyer
4/19/04
The ConAm Group of Companies, a San Diego-based real estate investment firm, acquired Rolling Oaks Apartments, a 292-unit institutional multi-housing community in the heart of the North Bay. Strategically located in the rolli...
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• Emerald Ridge Sparkles after $34 Mil Re-fi
4/19/04
Buchanan Capital Advisors has secured $34.5 mil in permanent financing through Deutsche Bank Mortgage Capital for the refinance of Emerald Ridge Apartments, a 350-unit multifamily property in Hacienda Heights. The financing ...
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• New Owners Have Big Plans for Historic Hotel in San Diego's North Park Area
4/16/04
A limited partnership that included Lennar Communities acquired the historic Lafayette Hotel in San Diego's North Park area for $9.6 mil. The building, which has a bit of a checkered history, is slated to be restored and reno...
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