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• Multifamily Site in Encino to Reach New Heights
10/21/03
Here's news about a couple of multifamily projects in the LA area yet to be developed. One of the projects is in the San Fernando Valley community of Encino, where a 1.71-acre mixed-use site with frontage on Ventura Blvd is b...
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• Investment Group Joins the Country Club Set
10/17/03
A California limited partnership paid $8 mil for Carlton Country Club Villas, a 130-unit ($61.5k/unit) apartment property at 9322-9356 and 9325-9355 Carlton Oaks Dr, at Carlton Hills Blvd in the city of Santee. Originally bui...
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• Concord Apartment Complex Listed for $25 Mil
10/15/03
Here's the scoop on a recent apartment listing in the NoCal community of Concord, as Sobrato Development is shopping the 218-unit Sterling Cove Apartments, a garden-style complex in this Oakland suburb. According to Real Esta...
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• Eagle Swoops in on $70 Mil of Temecula Apartment Properties
10/14/03
A pair of apartment communities in Temecula/Murrieta Valley, containing a combined total of 778 units, has traded hands for $71.5 mil. The buyer, Orange County-based Eagle Real Estate Group, paid $42 mil for California Oaks, ...
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• No One Brings You Marcus & Millichap Apt Deals Like RENTV
10/08/03
Oh boy, is Marcus & Millichap closing deals, and leading the M&M pack, as he does in most years, is Alex Mogharebi, Vice President of investments in Marcus & Millichap's Ontario, CA, office and a Senior Director of Marcus & M...
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• Upside Strikes Oil in Mid-Wilshire
10/07/03
Here's an update on a very newsworthy sale and re-development story that we first reported in considerable detail back in July, while the property, the landmark Getty Oil Building in LA's Korea Town/Mid-Wilshire area, was sti...
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• Shady Deal Sets Record For Garden Grove
10/06/03
Shady Lane, a 15-unit apartment property in Garden Grove, was purchased by a private investor for $2.5 mil, or $166.7k/unit, what the PR folks claim is a record price per SF for a Garden Grove apartment complex of this size. ...
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• Statewide Multifamily Briefs
10/03/03
BONSALL (San Diego County) – A private investor paid $5.25 mil for a 42-unit ($125k/unit) apartment complex at 31916-31918 Del Cielo Este. Steve Huffman and Jules Arthur of Hendricks & Partners represented the buyer and the s...
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• New Residential Tower Gets Green Light in NoHo Arts District
10/01/03
Redevelopment of the NoHo Arts District of North Hollywood got another boost last week, as the Los Angeles City Council gave JSM Construction approval to build an upscale 191-unit residential tower at the southwest corner of ...
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• Investor Pays $17 Mil for Stonewood Garden Apartments
9/30/03
Stonewood Garden Apartments, a 253-unit apartment complex in San Diego's Midway area, sold for $17.45 mil ($69k/unit). The 24-year-old property is at 3889 Midway Dr, south of I-8 and about a couple of blocks west of the San D...
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• San Diego Investor Builds Portfolio with Timbers
9/29/03
San Diego-based Investment Advisors purchased the Timbers Apartments, a 186-unit garden-style complex located near downtown San Leandro in the Bay Area. The buyer paid $17.4 mil, or roughly $93.5k/unit for the 129k sf, 28-yea...
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• ARCS Originates FHA Division
9/25/03
Here's more multifamily news from ARCS Commercial Mortgage – nothing surprising about that, the Calabasas-based lender is one of the biggest providers of multifamily financing in the country. The company has created a new FHA...
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• "They're Off!" at Del Mar
9/24/03
Construction has begun on Del Mar Station, a 4.5-acre mixed-use project being developed by LA-based Urban Partners LLC. Designed around a new North-South Metro Gold Line light rail terminus, the master-planned development wil...
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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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