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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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• Majestic Realty’s Ed Roski to be Inducted into NAIOP SoCal’s Hall of Fame
3/07/22
Emmy-Award Winning Actress Laura Wright will host the first-ever NAIOP SoCal Awards Gala on May 12. NAIOP SoCal, a leading organization for the commercial real estate industry in Southern California, will celebrate the best o...
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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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• Temple City Industrial Facility Sells for $215/sf
3/04/22
A 64.1k sf asset situated on 2.64 acres of land in the Los Angeles County submarket of Temple City sold for $13.78 mil, or $215/sf. The property features freestanding, secured yards, 21-foot minimum clear height, seven roll-u...
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• High-End Beverly Hills Retail Parcel Lands $38 Mil in Financing
3/04/22
An unnamed family real estate investment entity has obtained $38 mil in financing for the fee simple interest in a parcel located at the prominent corner of Rodeo Drive and Brighton Way in the heart of the Beverly Hills luxur...
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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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• Torrance Medical Office Building Sells for Over $500/sf
3/02/22
A 26.4k sf medical office building in Torrance was acquired by a private investor in a $14.2 mil ($539/sf) transaction. Built in 1961, the two-story property is located on 1.48 acres at 3531 Fashion Way.
Built in 1961, the ...
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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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• Exan Capital Buys 130k sf Industrial Facility in Palmdale
3/01/22
In a SoCal industrial trade from the end of 2021, Exan Capital purchased a 130.4k sf, newly renovated industrial distribution/e-commerce building on nearly 27 acres in Palmdale. The property is currently 100% leased to a glob...
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• The Georgetown Company Purchases Hollywood Media Campus for $93 Mil
2/28/22
The Georgetown Company has acquired Hollywood Media Campus, a 3.5-acre site comprised of a fully leased, 75.6k sf office building and an adjacent development parcel. The campus, located at 1350 North Western Ave in Hollywood,...
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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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• Commercial Real Estate Financing Briefs
2/25/22
JLL - Charles Halladay and Rick Salinas at JLL arranged a $60.3 mil mortgage loan to finance SB Real Estate Partners’ and Marble Partners’ acquisition of Bridge Creek Apartments in Vancouver, WA. The 270-unit multifamily prop...
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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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• Office Building in L.A.’s Echo Park Neighborhood Fetches $500/sf
2/22/22
The Rolf K. McPherson building, a 99.8k sf office building in Echo Park, was purchased for $51 mil ($511/sf) by CMCT, a real estate investment trust that owns, operates and develops premier multifamily and creative office ass...
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• A Renovated Medical Office Property in Torrance Sells for Over $14 Mil
2/22/22
An unnamed private investor paid $14.2 mil for a renovated, 26k sf medical office building in Torrance. The building, located at 3531 Fashion Way, was sold by Meridian.
The property is situated directly across the street fro...
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• Buck Design Buys DTLA Building for $26.5 Mil
2/21/22
Buck Design purchased a 79.2k sf building at 120 S. San Pedro St in downtown Los Angeles in a recent $26.5 mil ($335/sf) transaction. The firm, a global creative agency with offices in Los Angeles, New York, Sydney, and Amste...
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• Prodalim Group USA Leases 60k sf Food Processing Facility in South Gate
2/17/22
Prodalim Group USA inked a 10-year lease for a 60k sf, industrial food processing facility in South Gate in a deal worth roughly $17 mil, or $2.36/sf/mo, including tenant improvements. The property sits on 2.78 acres at 12128...
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• New 90k sf Expansion Campus Completed in the San Fernando Valley for Granada Hills Charter
2/17/22
Granada Hills Charter, one of the largest public charter schools in the U.S., has just completed construction of a 90k sf expansion campus in Northridge. The expansion has allowed the school to broaden its curriculum to offe...
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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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