Los Angeles
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.
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.
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.
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.
$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 .
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.
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.
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.
Stepp Facilitates Long Beach 1031 Exchange
The three-property portfolio traded for $10.6 million or nearly $189,000 per unit and closed at a 4.6 percent cap rate.
Berkshire Group Nabs DTLA Luxury Apartments
This is the company’s second purchase in the Los Angeles market in the last year. The 266-unit community also features over 8,500 square feet of ground floor retail.