Los Angeles
Two Riverside Multifamily Communities Score Refinancing Deals
The assets were both built in the 1950s and are fully occupied.
East Hollywood Community Traded in 1031 Exchange
The rapidly gentrifying submarket determined the hefty price per unit and low cap rate.
Refinancing Of Seven CA Communities Generates $15M
Universe Holdings’ properties include 559 units, with a gross value of $124.8 million.
Long Beach High-Rise Completed by C.W. Driver
Designed to comply with LEED Silver certification requirements, the $70 million project brings market rate apartments in a high-end amenity environment.
Westlake Multifamily Asset Set for Overhaul Following Acquisition
Westlake is a traditionally lower-rated area of Central L.A. that new owner Massie Capital hopes will catch up in terms of rent rates.
Reseda Development Project Acquired by Gelt
The initiative to revitalize the LA River is encouraging development in the area.
Gelt Gets Busy in LA County
The firm recently acquired a 2.4-acre site to develop a new community and an existing property that it plans to give a major renovation.
M West Holdings Snaps Up Asset in Old Bank District
Kennedy Wilson arranged the $37 million deal, with financing provided by Mesa West Capital.
Praedium Snags Multifamily Community Near LA
Miro Apartments, the only apartment community to be built in Santa Fe Springs in over 40 years, was purchased for more than $47 million.
IPA Arranges Record-Breaking Sale of Terracina Apartments in Inland Empire
By Alex Girda Ontario, Calif.– The recent sale of the Terracina community in Ontario is the largest transaction ever completed for a multifamily property in the Inland Empire. MG Properties sold the property along with joint venture partner Rockwood Capital for $142 million. The price per-unit comes in at roughly $193,000, well above the national average PPU which ended 2015 at roughly $117,000. Located at 3303 South Archibald Ave. in the Ontario Ranch master-planned community, Terracina offers 736 garden-style residences. The property consists of two land parcels that total 41 of the 8,200 acres that make up Ontario Ranch. The transaction…