Los Angeles
Financing Veteran Joins JLL as SVP
James McArthur will focus on providing financing solutions to multifamily real estate developers and owners using JLL’s Fannie Mae, Freddie Mac and HUD/FHA capabilities.
MAG Appoints Regional VP
Multifamily Ancillary Group has announced a new telecommunications and cable division, Next Wave Solutions, and has appointed telecom industry veteran Gregg Roffers to lead the firm’s business development and marketing teams. He will also manage existing relationships with major apartment owners and managers.
Stepp Commercial Closes Sale of Long Beach Property
The community traded at a 3.8 percent cap rate and a price per unit of nearly $456,000, a record high for the Belmont Shore area in California.
Greystar Opens CA Luxury Mixed-Use
Access, located in Culver City, includes 115 luxury apartments and 31,240 square feet of retail. The community has been designated LEED Silver.
Legacy Partners Refinances $37M Loan for SoCal Community Makeover
The company has received HUD approval to refinance a loan from Greystone and plans to renovate a 209-unit property In West Covina, Calif., that it has owned and managed since 2007.
LA’s First Automated Parking Garage Community Changes Hands
Lee & Associates represented both the buyer and the seller of the eight-unit property which was fully occupied at the time of the transaction.
Gelt Launches Happy Home Communities, Names Director
Ellie Davis will spearhead the new business venture. HHC has already made its first value-added acquisition, a nine-acre mobile home park in Bakersfield, Calif.
Bascom Group Buys South Bay Community
The company plans to revitalize the 64-unit infill community in Torrance, Calif. This is the firm’s 37th multifamily property in Los Angeles County.
Orange County Community Trades for $17M
California Landmark Group bought the 86-unit property built in 1973 from a private investor. This is the company’s first Orange County acquisition.
MHN’s Top 5 April 2017 Articles
Miss out on any MHN stories in April? Here are five of our most popular articles for the month, including the top 10 apartment owners in Los Angeles and the status of Chicago development.