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• Vegas Res Development Fetches $385k per Unit
2/14/22
The Lennox, a 100-unit, luxury apartment community in Las Vegas, was sold in a transaction valued at $38.5 mil, or $385k per unit. Constructed in 2015, the Class A multifamily asset is located at 430 E Cactus Rd.
The Lennox...
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• Nippon Steel Kowa Real Estate Co Ltd/Continental Realty Assets Ltd Venture Acquires 150-Unit Res Community in Phoenix
2/14/22
A joint venture consisting of Tokyo-based Nippon Steel Kowa Real Estate Co Ltd (“NSKRE”), advised by Metzler Real Estate and Denver-based Continental Realty Assets Ltd (“CRA”), a subsidiary of Continental Realty Group, acquir...
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• Inland Empire Multifamily Comp Works Out to $191k/Unit
2/11/22
In a recent multifamily sales comp from the Inland Empire, Vintage Palms Apartments, a 74-unit property in Indio, was purchased by a private investor for $14.15 mil ($191.2k/unit).
Vintage Palms Apartments is located at 824...
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• Newport Beach Investor Buys Phoenix Apartment Property for $13 Mil
2/11/22
Northern Edge, a 51-unit apartment property in Phoenix, was recently acquired by a Newport Beach-based private investor for $12.9 mil ($253k/unit).
Northern Edge, located at 2339 West Northern Ave, is fully renovated and fe...
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• Long Beach Apartment Building Trades for $240k per Unit
2/10/22
A NoCal-based private investor paid $5.04 mi for a 21-unit ($240k/unit) apartment property located at 1505 E. 11th Street in Long Beach. The property closed at a 4.2% cap rate.
Built in 1964, the controlled-access property o...
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• SoCal Multifamily Market Seeing Record Numbers
2/09/22
This report provided by real estate services firm NAI Capital
Multifamily rents in Southern California have reached new highs while the number of vacant units has dipped to record lows. As the sun sets on the eviction morato...
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• Interstate Equities Corporation Completes $205 Mil Res Buy in South OC
2/08/22
Interstate Equities Corporation has purchased The Bryant at Yorba Linda, a 400-unit, best-in-class multifamily community in South Orange County, in a transaction valued at $ $205.5 mil, or $514k per unit. Built in 1986, the p...
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• A Community of Friends Starts Work on Riverside Senior Housing Project
2/08/22
Los Angeles-based A Community of Friends has broken ground on Oasis Senior Villas, a 95-unit affordable senior housing community located in Riverside. The development will target low-income senior citizens with half of the un...
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• Base Equities Teams Up with Alex Brown Realty in Joint Venture Partnership
2/07/22
Los Angeles-based Base Equities has entered into a strategic joint venture partnership with Alex. Brown Realty (ABR), an independent real estate investment manager specializing in value-add, opportunistic, and core-plus inves...
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• Ridge Capital Investors LLC, Contrarian Capital Management and Andell Holdings Acquire Two Multifamily Assets in the East Bay
2/07/22
Ridge Capital Investors LLC, in joint venture with Contrarian Capital Management and Andell Holdings, has acquired a two-property, 444-unit multifamily portfolio in an off-market transaction. The portfolio assets are located ...
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• Torrance Multifamily Property Trades in $49.5 Mil Transaction
2/04/22
Rolling Hills Apartment Homes, a 107-unit apartment complex in Torrance, sold for $49.5 mil, which equates to $462.8k/unit. The property, located at 25935 Rolling Hills Rd, south of Hwy 1 off Crenshaw Blvd, traded between pri...
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• San Bernardino Res Property Gets New Owner in $5 Mil Deal
2/04/22
Las Brisas Apartments, a 35-unit multifamily property in San Bernardino, was purchased by a private investor for $5 mil, or $143k/unit.
Located at 3665 North E St, Las Brisas Apartments consists of 26 one-bedroom/one-bath ...
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• Kennedy Wilson and Goldman Sachs Asset Management Close $106 Mil Apartment Buy in Seattle
2/03/22
Coppins Well, a 236-unit, high-rise apartment community in Seattle, was acquired by Kennedy Wilson and Goldman Sachs Asset Management for $106.5 mil ($451k/unit), excluding closing costs. Completed in 2012, the 17-story build...
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• TruAmerica Multifamily Launches Build-For-Rent Division
2/03/22
TruAmerica Multifamily has launched a Build-For-Rent (“BFR”) development division to build townhome and single-family rental communities in suburban submarkets. The initial roll-out of TruAmerica’s in-house BFR platform will ...
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• EPIC Multifamily Real Estate Fund I LP Buys 188-Unit Phoenix Apartment Complex
2/03/22
EPIC Multifamily Real Estate Fund I LP has acquired Urban188, a 188-unit, value-add, garden-style workforce housing community located in Phoenix. EPIC financed the deal with a new loan for $24.25 mil.
Consisting of 10 reside...
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• SB Real Estate Partners Spends $75 Mil on 270-Unit Res Community in the Portland Area
2/03/22
SB Real Estate Partners (“SBREP”) has acquired Bridge Creek Apartments, a 270-unit, garden-style multifamily community in the Portland, OR submarket of Vancouver, WA, for $75 mil ($278k/unit). The property will be rebranded a...
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• San Jose Apartment Community from 1961 Sells for $379k per Unit
2/02/22
A 24-unit multifamily asset in Willow Glen, a prime submarket of San Jose, traded hands in a recent $9.1 mil ($379k/unit) transaction. The property is located at 51 Glen Eyrie Ave, south of I-280 and west of Hwy 87.
Original...
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• High Street Residential and PGIM Real Estate Begin Work on 192-Unit Scottsdale Res Project
2/02/22
High Street Residential (HSR), the residential subsidiary of Trammell Crow Company (TCC), and JV Partner PGIM Real Estate have broken ground on Raintree Multifamily, a 192-unit residential community in Scottsdale, AZ. The new...
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• SB Real Estate Partners Picks Up 114-Unit AZ Multifamily Property
2/01/22
SB Real Estate Partners (“SBREP”) has acquired Bloom 24, a 114-unit garden style multifamily community in Phoenix, AZ for $34.2 mil, or $300k per unit.
Built in 1973 and located at 2323 East Flower St, the property will be ...
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• Long Beach Apartment Property from the 1960s Sells for $394k/Unit
2/01/22
A 16-unit apartment property in Long Beach traded hands in a recent $6.3 mil ($394k/unit) transaction. The property is located at 445-455 Rose Ave in the city’s 4th Street / Retro Row neighborhood.
Built in 1963, 445-455 Ros...
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