Los Angeles
Long Beach Property Sells for $72M
Berkadia arranged the disposition of The Landing at Long Beach on behalf of the seller. The new owners plan to invest $28,000 per unit for upgrades.
$300M Residential Tower Breaks Ground in LA
Developed by Hankey Investment Co. and Jamison Properties, the 25-story high-rise will bring 644 apartment units and 15,000 square feet of ground floor retail space to the coveted Koreatown submarket.
Multifamily Los Angeles Report – Winter 2019
Steady employment growth fueled by a large and diversified economy underpins a robust multifamily demand in the metro. Despite a surge in construction, the average occupancy rate was 96.6 percent as of October.
California Expands Affordable Housing Finance Incentives
The new program aims to incentivize affordable housing development for residents with a mix of incomes.
Suburban LA Community Changes Ownership
Universe Holdings has acquired a 15-unit property in Inglewood, Calif., their ninth in this Los Angeles submarket.
LA Community Sells for $26M
An institutional investment fund purchased Morton Gardens, a 66-unit community in the city’s Echo Park neighborhood.
In Case You Missed It: MHN’s Top 5 Posts in January
Miss any of our articles? Catch up with five of our most popular posts for the month.
$95M Loan Secured for LA Luxury Tower
The financing, provided by Helaba on behalf of ASB Allegiance Real Estate Fund, will go toward the 35-story WaterMarke Tower located in the city’s financial district.
Latch’s Smart Access Devices Expand Footprint
By mid-2019, UPS drivers in 10 additional cities will be able to enter multifamily communities and drop off packages in lobbies or package rooms.
CGI Strategies Acquires LA-Area Community for $20M
The firm purchased Parkwood Apartments, a 78-unit property in the Los Feliz neighborhood, with plans to upgrade the building’s infrastructure and common areas.