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• Empire Group Obtains $120 Mil in Financing on Two AZ Build-to-Rent Projects
6/08/23
Scottsdale, AZ-based Empire Group has secured $120.5 mil in financing for two Build-to-Rent (BTR) communities in the Phoenix market. The lease-up bridge and construction financing is for the newly developed Village at Pioneer...
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• Two CA Central Valley Res Properties Sell in Deals Worth $15.6 Mil
6/07/23
The Mogharebi Group (TMG) has successfully secured the sale of two Central Valley multifamily communities totaling 102 units in separate transactions valued at $15.6 million combined.
Here’s the scoop on two multifamily deal...
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• Rockefeller Group Acquires Two Res Development Sites in Arizona
6/07/23
Rockefeller Group has acquired two sites for the development of 152 build-to-rent townhomes. The two sites, approximately 1.75 miles apart, total 16.5 acres and are located in Phoenix’s booming South Mountain corridor. Ground...
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• Swenson Receives Approval by Santa Cruz City Council for Mixed-Use Development
6/02/23
The Santa Cruz City Council approved an application for entitlements by Swenson on a mixed-use development at 530 Front St in Santa Cruz. The proposed project is located on the corner of Front St and Soquel Ave, the gateway t...
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• The Landmark Company Acquires Just Under Five Acres in Upland for Development
5/31/23
The Landmark Company purchased 4.84 acres of land at 1400 E. Arrow Hwy in Upland for $6.5 mil in an all-cash transaction. The company plans to build a single-family residential development on the land, in partnership with Ce...
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• 29th Street Capital Picks Up 124-Unit Res Asset in Arizona
5/30/23
29th Street Capital (29SC) acquired Solaire on Scottsdale Apartments, a 124-unit property located in Tempe, AZ. The price was not disclosed.
Developed in 1963, Solaire on Scottsdale is a B- asset positioned in a Class A loca...
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• Construction of $400 Mil Downtown San Diego Mixed-Use Project Tops Out
5/26/23
Holland Partner Group, North America Sekisui House and Lowe announced today that they have reached the topping out phase in the development of West, a $400 mil, 37-story mixed-use project located at 1011 Union St in downtown ...
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• MG Properties Wraps Up $61 Mil Res Buy in Washington
5/25/23
MG Properties closed on a multifamily buy in the state of Washington, paying $61.6 mil for Artesia Apartments, a 192-unit ($321k/unit) community in Everett. The property is located 11225 19th Ave SE, in the city’s Silver Lake...
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• New 580-Unit Multifamily Development Completed in Salt Lake City
5/25/23
Post District Residences, a new 580-unit multifamily development in Salt Lake City, has been completed. Located at 575 South 300 West, the project features state-of-the-art amenities and a prime location.
Post District Resid...
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• Long Beach Apartment Building Goes for $275k/Unit
5/24/23
A four-unit apartment building in Long Beach sold for $1.1 mil or $275k per unit. The apartment building, located on a 3k sf corner lot at 801 Atlantic Ave, was built in 1914 and comprises four units, including two three-bedr...
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• Recently Completed Washington Multifamily Development Lands $14 Mil Fannie Mae Refi
5/24/23
Kōz on Weaver Road, a 100-unit senior housing community located just outside of downtown Snohomish, WA, was refinanced with a new Fannie Mae DUS® loan for $14 mil. In the transaction, Cushman & Wakefield served as the ex...
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• El Cajon Apartment Building Trades for $262k/Unit
5/23/23
A 22-unit apartment building in El Cajon traded hands in a recent $5.775 mil ($262.5k/unit) transaction. Built in 1986, the property is located at 299 Wisconsin Ave, south of I-8 and west of Magnolia Ave in the city’s downtow...
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• Thousand Oaks Multifamily Portfolio Hits the Market
5/22/23
A two-property, 399-unit multifamily portfolio in Thousand Oaks has been put on the market. The portfolio includes Los Robles Apartments, a 253-unit property built in 1972 and The Retreat at Thousand Oaks, a 146-unit apartmen...
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• Albuquerque Res Community Lands $45 Mil Freddie Mac Refi
5/19/23
Union 505 Apartments, a 572-unit residential community in Albuquerque, NM, was refinanced with a new loan for $45.5 mil. The property is located at 801 Locust Place NE.
The community offers studio, loft, one- and two-bedroom...
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• Four Multifamily Properties Trade in Deals Totaling Over $7 Mil
5/19/23
Here’s a quick look at four multifamily transactions totaling $7.215 mil in San Jose that closed during March 2023. The properties have a combined 22 units. The closed transactions consist of:
• 2785 Almaden Road – a five-u...
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• Goodyear, AZ Multifamily Property Refinanced with $41.6 Mil Freddie Mac Loan
5/18/23
Lunaire Apartments, a 240-unit res community in Goodyear, AZ, landed new financing of $41.6 mil. The property is located at 949 S. Goodyear Blvd, just south of I-10, within the Phoenix MSA. It is owned by 29th Street Capital....
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• Archway Equities Closes $150 Mil Multifamily Buy in the Inland Empire
5/17/23
Archway Equities has acquired The Paseos at Montclair North, a 385-unit multifamily community in the Inland Empire city of Montclair, for $150 mil ($389.6k/unit). We’re told this is the largest multifamily transaction in Sout...
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• Davlyn Investments Closes $67 Mil Res Buy in Las Vegas
5/16/23
Davlyn Investments closed on the purchase of Spectrum, a 252-unit, luxury multi-family community in Las Vegas, for $67 mil, or $265.9k/unit. The property was sold by The Bascom Group, who acquired the asset in late 2016 for $...
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• Bridge Development Breaks Ground on Senior Housing Project in San Diego’s Little Italy Neighborhood
5/16/23
Bridge Housing has started work on Kettner Crossing, 64-unit senior housing complex in downtown San Diego’s Little Italy neighborhood. The project is expected to reach completion by early 2025 and will serve low-income ...
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• San Jose Apartment Property Goes for $252k/Unit
5/15/23
Ranchero Palms, a 61-unit multifamily community in San Jose, traded hands for $15.38 mil, or $252k/unit. The property is located at 1175 Ranchero Way, west of San Tomas Expwy and south of I-280.
Ranchero Palms has 45 one-bed...
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