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• Life Bridge Capital Closes $30 Mil Res Buy in Colorado
3/08/22
Life Bridge Capital has purchased Aviator Apartments, a 147-unit multifamily community in Colorado Springs, CO, for $30.6 mi, or $208k per unit. The seller was an affiliate of Crossbeam Capital.
Aviator comprises five, 2.5-s...
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• San Francisco Investor Buys 13-Unit Long Beach Apartment Property
3/08/22
A 13-unit apartment property in the Eastside market of Long Beach sold for $4.375 mil, or $336k per unit. The property, located at 907-927 Grand Ave, closed at a cap rate of 4.3%.
Built in 1923 and 1963, 907-927 Grand Avenue...
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• Ryan Wagner, Matt Kroger and Brandon Geraldo Join JLL in San Francisco
3/07/22
Ryan Wagner, Matt Kroger and Brandon Geraldo have joined JLL’s San Francisco office as Senior Managing Directors, focusing on multi-housing investment advisory transactions in the San Francisco Bay Area, Northern California a...
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• Los Angeles Multifamily Market Sees Lowest Vacancy Rate in Two Decades
3/04/22
This report provided by Marcus & Millichap
Robust leasing velocity widespread for a second consecutive year. Los Angeles County rentersabsorbed more than 30,000 units last year, slashing apartment vacancy to a 20-year low. C...
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• Cityview and Stockbridge Buy Res Development Site in Hawthorne
3/03/22
A joint venture between Cityview and Stockbridge purchased Millennium Gardena, a fully entitled development site slated for 262 multifamily units in Hawthorne. The property, located at 12850 Crenshaw Blvd, was sold by The Din...
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• Kennedy Wilson Partnerships Spend $264 Mil on Three Multifamily Buys
3/03/22
Kennedy Wilson has acquired three multifamily communities with its investment partners in transactions totaling $264 mil. The purchases are of: Central Park Commons, a 180-unit garden-style apartment community in Meridian, ID...
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• SAM Residential Group Closes on 168-Unit Residential Buy in Avondale, AZ
3/02/22
SAM Residential Group, a Los Angeles-based real estate developer, has acquired 1408 Casitas at Palm Valley, a 168-unit, value-add multifamily community in Avondale, AZ, for $53 mil ($315k/unit). The property was sold by from ...
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• Phoenix Multifamily Community Sold in $255 Mil Transaction
3/01/22
In a major multifamily acquisition, Tide Equities LLC and CIM Group purchased Del Mar Terrace, a 1,012-unit community in Phoenix, for $255 mil ($252k/unit). The property, located at 7007 W. Indian School Rd, was sold by Del M...
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• Santa Monica Apartment Trade Closes at $436k per Unit
3/01/22
In a recent Santa Monica multifamily sales comp, a local private investor paid $6.975 mil for a 16-unit ($436k/unit) apartment property located at 1901 6th St. The asset is situated just six blocks from the ocean and is a sho...
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• Long Beach Office Property Trades for $41 Mil as Res Redevelopment Opportunity
2/28/22
Holland Partners purchased Congressional Place, a two-story, 7.8k sf office building in Long Beach, in a $41 mil transaction. The property, located at 6700 East Pacific Coast Hwy, is planned as a multifamily redevelopment pro...
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• DB Capital Management Closes on 71-Unit Res Buy in Salt Lake City
2/25/22
In a recent Salt Lake City multifamily buy, DB Capital Management acquired Marmalade Hill, a 71-unit apartment complex in the city’s downtown, for $18.6 mil ($262k/unit). The property was 96% occupied at the time of closing. ...
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• The Bascom Group Closes Fifth Multifamily Investment Fund
2/24/22
The Bascom Group has closed the offering for its fifth fully discretionary multifamily real estate investment fund. The fund, Bascom Value Added Apartment Investors V LLC (“Fund V"), raised equity commitments of $150 mil. Thi...
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• UpScale Res Tower in Long Beach Gets New Owner in $48 Mil Deal
2/23/22
442 Residences, a newly constructed, 94-unit luxury multifamily community in Long Beach, traded hands for $48.5 mil, or approximately $516k per unit. The buyer was MWest Holdings.
Located at 442 W. Ocean Blvd, the property ...
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• Holland Partner Group, North America Sekisui House and Lowe Begin Work on 37-Story Mixed-Use Tower in Downtown San Diego
2/18/22
Holland Partner Group, North America Sekisui House and Lowe are underway with the development of West in Downtown San Diego, a $400 mil, 37-story mixed-use project located at 1011 Union St. As the first multi-mixed-use tower...
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• FPA Multifamily Closes $45 Mil AZ Res Buy
2/17/22
Monument Ridge Apartments, a 201-unit multifamily community in Flagstaff, AZ, was acquired by San Francisco-based FPA Multifamily LLC in a $45.5 mil ($226k/unit) transaction. The asset was sold by Priderock Capital Management...
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• Santa Monica Apartment Building Traded at $387k per Unit
2/17/22
A six-unit bungalow-style apartment property in Santa Monica was purchased for $2.325 mil ($387.5k/unit). The property, located at 1318 19th St, was acquired by Princess Apartments GP.
Built in 1955, the asset’s unit mix inc...
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• NoCal Apartment Property Trades for $21.5 Mil
2/17/22
The Vines on 80, a 63-unit multifamily community in Fairfield, sold for $21.5 mil, or $341k per unit. Built in 2017, The Vines on 80 is located at 3950 Business Center Dr, adjacent to I-80 roughly midway between San Francisco...
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• Optimus Properties Spends $20 Mil on Two Apartment Properties in L.A.’s Echo Park Neighborhood
2/16/22
We’ve learned of two Los Angeles apartment properties that recently traded hands in deals totaling over $20 mil. Both properties, mid-sized assets on the border of Echo Park, were sold by the same family trust and acquired by...
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• Multifamily Asset in the East Bay is Traded in $23 Mil Deal
2/16/22
Mosaic Apartments, a 62-unit apartment community located in Castro Valley, an unincorporated community in CA’s Alameda County, traded hands in a recent $23 mil ($371k/unit) transaction. The apartment community, situated on 2....
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• SB Real Estate Partners and Marble Partners Buy 270-Unit WA Res Property
2/15/22
SB Real Estate Partners and Marble Partners acquired Bridge Creek Apartments, a 270-unit multifamily property in Vancouver, WA. The garden-style property is located at 9211 NE 14th Ave, 13 miles north of Portland.
Bridge Cre...
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