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• August 1, 2003 - Archstone-Smith Nabs 450-Unit Santa Clara Complex
8/01/03
Archstone-Smith, one of the nation's leading owners, operators, developers and acquirers of apartment buildings, purchased Estancia Apartments, a 450-unit upscale apartment community in Santa Clara, for $80 mil ($177.8k/unit)...
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• Opus West Announces Luxury Multifamily Project in Irvine
7/30/03
Opus West Corp, the western US division of MN-based Opus Corp, has announced plans to build a 343-unit luxury apartment community at the corner of Jamboree Rd and Dupont Dr within Campus Centre in Irvine, representing the fir...
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• Statewide Multifamily Briefs
7/29/03
WESTCHESTER (Los Angeles County): A 17-unit, 17.8k sf apartment building was bought for approximately $2.7 mil ($159k/unit) by the Kolovos Family Trust. Built in 1991, the three-story building is located at 7120 Ramsgate Aven...
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• July 28, 2003 - Homesick Developers
7/28/03
The Presidio Trust received proposals from nine developers to convert the 300k sf Public Health Service Hospital and 100k sf in 17 surrounding buildings at the San Francisco Presidio to a residential complex with up to 400 li...
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• Bascom Gets White Lane Fever
7/25/03
The Bascom Group, out of Irvine, has closed another California apartment buy in a deal that just closed a couple of days ago. The company paid $4.79 mil for the White Lane Apartments, a 121-unit ($39.6k/unit) apartment commun...
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• Pomona Winery to Become Seniors Housing
7/22/03
At the end of June, AMCAL Multi-Housing Inc, a residential real estate development group, announced that it recently received approvals from the City of Pomona to move forward with the development of Portofino Villas, an $8 m...
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• July 21, 2003- Inland Empire Multifamily Notes
7/21/03
MONTCLAIR: Last month the former Margarita Elementary School site was sold when Richmond American Homes closed escrow on the property. It had recently received approvals for a 61 unit single-family residential subdivision. Th...
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• Westside Multifamily Sites Stir Up Interest
7/18/03
Marcus & Millichap recently sent us in the note that the sold a 15.2k sf parcel of land in West Hollywood at the Havenhurst Community Garden, which is located at 1351 Havenhurst Drive, half a block from Sunset Boulevard.
Av...
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• Seattle and Iowa Team Swing For The Fence At Pac Bell
7/17/03
A joint venture between Seattle-based Security Properties Inc. Iowa-based Principal Global Investors purchased a property directly across from Pac Bell Park, home of the San Francisco Giants. The 43k sf parcel at 170 King St....
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• Development Partnership Collects $36 Mil from sale of Upscale San Diego Apartment Co
7/16/03
101 Market, a 149-unit luxury apartment complex in downtown San Diego's Marina district sold for $36.4 mil ($244.3k/unit). Located at 101 Market St, the property occupies an entire city block bordered by Market St and Island,...
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• City Council Approves Agreement for $123 Mil South LA Development
7/15/03
An important new LA retail/residential project moved another step closer to becoming reality recently, as the Los Angeles City Council approved the agreement with Capital Vision Equities and Keyshawn Johnson for the developme...
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• Investors Snag Two More San Diego-Area Apartment Properties
7/15/03
Here's an update on a pair San Diego-area apartment properties that have recently changed hands. The first deal is in El Cajon, where private investors paid $2.8 mil for the Mollison El Dorado, a 28-unit ($100k/unit) complex ...
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• Mexico Needs a Strong Countrywide Housing Finance System
7/14/03
Here's a summary of a report about the need for Mexico to develop a strong housing finance system, authored by Dr. David Dale-Johnson, Ph.D at USC's Lusk Center for Real Estate, and Gene Towle, Professor of Real Estate Market...
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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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