Multifamily news in Los Angeles
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On the Market: 5 Interesting Listings for the Week of 7/10
This week's listings include a 1930s-era asset in Los Angeles and a three-unit brownstone on a tree-lined block in Jersey City, N.J.
14 July 2017 14:25 -
Sussex Capital Snags LA Community
Avison Young brokered the deal, which amounted to $450,000 per unit. The property, called Hillpointe, includes 30 units in Hollywood Hills.
11 July 2017 14:08 -
Aimco Buys Out Palazzo JV Partners for $452M
The company sourced funds for the acquisition by taking title subject to existing allocable debt and using cash proceeds from the pending sales of some of its assets in the Northeast.
11 July 2017 12:43 -
There’s Hope for This South Park Luxury High-Rise
Lendlease and Full Star Properties LLC started construction on a mixed-use luxury condo building, which has been in the pipeline since 2006.
06 July 2017 10:23 -
LA Koreatown Community Trades for $9M
Lion Real Estate Group sold Kingsley Tower, a 45-unit apartment building it acquired in 2012 for $4.2 million and then repositioned.
03 July 2017 16:00 -
George Smith Secures $27M for Hollywood Community
Massie Capital and Glenn & Shannon Dellimore plan to refinance an older acquisition loan and fund further renovations, as well as the off-market acquisition of an adjacent property.
28 June 2017 15:22 -
LA: Affordable Housing Wanted
Rent growth in the city is continuing at a rate double the national average, largely due to solid gains in a few key employment sectors and renter interest pivoting toward the area’s suburbs.
23 June 2017 13:22 -
The Positive Impact of the Interest Rate Hike
CityView’s Sean Burton discusses the effect of an increased supply of multifamily units and explains why higher interest rates could spur more development.
20 June 2017 18:21 -
Bernards Breaks Ground on 115 KSF Student Housing
The company is aiming for an August 2018 completion on the 114,970-square-foot facility at the University of La Verne. The project will be the first one in the university’s newly approved Facilities & Technology Master Plan.
19 June 2017 21:31 -
Decron, Sequoia Trade CA Assets in $193M Transaction
Sequoia traded The Villas and Overlook, located in the 4,000-acre master-planned community of Wood Ranch, for Decron's Broadstone at Strawberry Creek. Institutional Property Advisors represented both companies.
08 June 2017 14:42 -
BRIDGE Housing Breaks Ground on $1B Revitalization
The firm and Los Angeles' Housing Authority started work on a community that will transform the Jordan Downs housing project in Los Angeles. Phase I will add 115 affordable units.
08 June 2017 14:31 -
$100M LA Arts District Mixed-Use Advances
Greystar's Arts District AMP Lofts, which includes 320 units and retail space, received a 48-month construction loan from CIT’s Real Estate Finance .
08 June 2017 08:20 -
Sares Regis Breaks Ground on Downtown Long Beach Communities
The three communities totaling 348 units were designed by Studio One Eleven and are adjacent to retail amenities. The properties are slated for completion in 2019.
07 June 2017 15:45 -
Berkadia Closes $12M Hollywood Community Sale
This is the first time the 72-unit property has traded in more than 40 years. Since most units lacked kitchens, the property was challenging to finance by conventional lenders.
07 June 2017 11:50 -
Affordable Housing Finance Veteran Joins Jonathan Rose
As West Coast director, Kelly Boyer will work with the company’s New York-based acquisitions team, sourcing new investment opportunities on the West Coast, including direct investments and joint ventures, as well as managing operating partner relationships.
05 June 2017 14:01