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• Kairos Investment Management Company Introduces Program to Help Residents at Its Affordable Housing Communities Improve their Credit Scores
3/25/22
Kairos Investment Management Company (KIMC) has launched a new program for its affordable housing communities to help residents improve their credit profiles. The program is led by Esusu, the pioneering fintech company that r...
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• Moderne Capital Partners LLC and Triumph Properties Group Secure $69 Mil for Construction of Phoenix Multifamily Project
3/24/22
A joint venture between Moderne Capital Partners LLC and Triumph Properties Group is closer to moving ahead with construction of Aileron Apartments, a 287-unit Class A multifamily project in Phoenix’s Deer Valley sub-market, ...
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• Avanath Capital Management Completes Initial Closing of Its Open-Ended Affordable Housing Fund
3/24/22
Avanath Capital Management LLC has completed the initial closing of its open-ended affordable housing fund, with $536 mil in equity commitments. The initial equity commitments were used to seed the fund with an $830 mil affor...
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• Bay West Development and Forum Real Estate Group Land $284 Mil to Begin Work on 590-Unit Silicon Valley Res Project
3/23/22
Bay West Development and Forum Real Estate Group are set to move forward with development of The Maxwell, a 590-unit multifamily project situated on a 4.5-acre parcel in San Jose, after securing $284 mil in construction money...
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• Upscale Redondo Beach Multifamily Community Fetches Over $700k/Unit
3/23/22
A Los Angeles-based private investor purchased Elements 616, a 105-unit luxury multifamily complex in Redondo Beach, for $74.5 mil ($709.5k/unit). Located at 616 Esplanade, just steps from the beach, Elements 616 sits on 1.2...
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• SB Real Estate Partners and Marble Partners Spend $58 Mil on Phoenix Res Community
3/22/22
Cantamar Apartments, a 180-unit multifamily community in Phoenix was acquired by a venture between SB Real Estate Partners and Marble Partners in a $58.1 mil ($323k/unit) deal. The property, located at 16630 N 43rd Ave, was s...
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• California Landmark Group Locks in $84.75 Mil Refi on Two High-End L.A. Apartment Communities
3/22/22
California Landmark Group has recapitalized two luxury apartment properties in Los Angeles in an $84.75 mil refi deal originated by Mesa West Capital. The refi was secured by two residential communities, the “HW” by CLG, a 79...
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• Oakland Apartment Portfolio Gets New Owner in $15.8 Mil Trade
3/21/22
A three-property multifamily portfolio located in Oakland's Grand Lake neighborhood recently traded in a $15.8 mil deal. The properties total 55 units ($287.3k/unit) and are located at 344 Monte Vista Ave, 832 Erie St and 791...
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• L.A. Area Investors Trade Santa Monica Apartment Property in $5.5 Mil Deal
3/21/22
A 10-unit apartment property in Santa Monica sold for $5.5 mil, or $550k/unit. The property is located at 911 Lincoln Blvd, just south of Montana Ave in the city’s desirable North of Wilshire neighborhood.
Built in 1958, the...
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• Interstate Equities Corporation Closes Its Fifth Institutional Fund with $445 Mil in Equity Commitments
3/18/22
Interstate Equities Corporation (IEC) has closed its fifth institutional fund, “IEC Institutional Fund V,” with $445 mil in equity commitments. The fund, which will invest in acquiring, renovating, and repositioning value-ad...
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• AZ Res Community Trades for Over $58 Mil
3/18/22
A joint venture of Continental Realty Assets and Tokyo-based Nippon Steel Kowa Real Estate has acquired a 150-unit apartment community in the town of Fountain Hills, AZ for $58.25 mil ($388.3k/unit). Formerly known as Arrive ...
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• Soma Capital Pays Over $700k per Unit for Newly Built Sacramento Res Community
3/18/22
San Francisco-based Soma Capital purchased a newly developed 75-unit luxury multifamily community in Sacramento for $57.1 mil ($761.3k/unit). Built in 2020, the Midtown asset is located at 1430 Q St.
The award-winning asset ...
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• Six Peak Capital Lands $53.7 Mil in Financing on L.A. Multifamily Portfolio
3/17/22
George Smith Partners has arranged $53.7 mil in non-recourse bridge financing for a six-property portfolio comprising three conventional multifamily properties and three co-living properties in Los Angeles. The financing was ...
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• Costa Mesa Multifamily Property Sells for Over $500k/Unit
3/17/22
The Wilson Townhomes, a 24-unit multifamily development in Costa Mesa, was purchased for $12.2 mil ($508.3k/unit) by a private investment group from nearby Newport Coast. Built in 1961, The Wilson Townhomes is located at 1032...
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• Two East Bay Multifamily Sales Total $86.5 Mil
3/16/22
Ascenda Capital has purchased two apartment communities totaling 235 units in the East Bay cities of San Leandro and Hayward. The assets were both sold by Trion Properties in deals totaling $86.5 mil ($368k/unit).
The larger...
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• San Gabriel Valley Multifamily Property Trades for $14 Mil
3/16/22
Merri Manor Deluxe Apartments, a 37-unit complex in San Gabriel, sold for $14 mil ($378.4k/unit) in an all-cash deal. The asset was purchased by The Stanley A Sirott Trust, an active local investor with substantial multifamil...
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• Legacy Partners Secures Joint Venture Equity for 288-Unit Washington Multifamily Development
3/11/22
Legacy Partners Inc has obtained joint venture equity for the development of Bellevue Station, a 288-unit, mid-rise transit-oriented apartment project in Bellevue, WA. The equity was provided by New York Life Real Estate Inve...
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• Davlyn Investments and Almanac Realty Investors Form Multifamily Investment Firm
3/11/22
Davlyn Investments and Almanac Realty Investors have joined forces to form a multifamily acquisition, redevelopment, repositioning and management firm called DA InvestCo.
Almanac is the private real estate investment arm of...
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• SB Real Estate Partners Spends $58 Mil on Arizona Multifamily Community
3/11/22
SB Real Estate Partners has acquired Cantamar Apartments, a 180-unit garden style multifamily community in Glendale, AZ, for $58.1 mil ($323k/unit). The property will be rebranded as Portola On Bell.
Built in 1998, the prop...
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• Legacy Partners and Pondmoon Capital Holdings USA Start Work on TX Res Community
3/09/22
Legacy Partners and Pondmoon Capital Holdings USA have broken ground on Merit, a 296-residence mixed-use community in Lewisville, TX. The community is located on Interstate 35E, approximately 15 miles equidistant from the two...
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