Los Angeles
Meta Housing Corp. Presents Its First Family Arts Colony
Meta Housing Corp. finalized its first “family arts colony” apartment project in the San Pedro, Calif., neighborhood.
TODAY’S DEALS: Waypoint Grabs Waterfront Apartments in Newport Beach
IPA brokers a $25.5 million sale in Newport Beach, Calif.; Lee & Associates arranges a 32-unit asset in Los Angeles; and Berkadia negotiates the financing and sale of a multifamily property in Greater Phoenix.
Oakwood Worldwide Acquires Luxurious Redwood City Apartments for Global Portfolio
Oakwood Worldwide added a 141-unit apartment community in Redwood City, Calif., to its global portfolio through its $4 billion partnership with Singapore-based Mapletree Group.
New Partnership Investing $20M in Affordable Housing in California
The Community Development Trust, a national private real estate investment trust, has announced a partnership with TIAA-CREF, a national financial services organization, to invest in affordable housing in California.
TODAY’S DEALS: Essex Drops $200M in L.A.
Wood Partners breaks a L.A. price-per-square-foot record; Grandbridge closes a $33.2 million acquisition loan in Texas; and a manufactured home community sells for $37,865 per space.
Balfour Beatty Completes Hollywood Mixed-Use Tower for Less than Expected
Balfour Beatty Construction recently announced that it has completed a high-end mixed-use tower in Hollywood at a considerably lower cost than was originally estimated. The company’s Southwest Division finished a project it had been developing for real estate and infrastructure investment firm CIM Group at a total cost of $76.2 million, roughly $12 million less than what was initially committed to the project. The change comes from the use of the contractor’s cast-in-place structures, as well as a re-design of the building’s mechanical, electrical and plumbing systems.
It Takes a Village: Restoring Santa Monica’s Civic Center
“Santa Monica moved towards that rare event in Los Angeles–a pedestrian-oriented place,” writes architect James Mary O’Connor.
TODAY’S DEALS: Oakwood, Mapletree Expand in Dallas
Corporate housing firm Oakwood Worldwide completes a 232-unit JV apartment buy; Capital One Multifamily Finance closes $34.6 million to refinance an L.A. portfolio; and IPA arranges the sale of a North Dallas apartment property.
TODAY’S DEALS: Meridian Capital, Capital One Arrange $64M Interest-Only, Cash-out Refinance
Meridian Capital Group, in partnership with Capital One Multifamily Finance, negotiates the $64 million refinancing of Palm Island; and a Hollywood apartment building trades hands for $3.4 million.