Los Angeles
Phoenix Realty Group Adds Two to West Coast Operations
Phoenix Realty Group has bolstered its Los Angeles office with the hiring of real estate vets R. Alex Saunders and Leslie Stephens.
TODAY’S DEALS: George Smith Partners Secures $70M Cash-Out Refinance for Downtown LA Property
George Smith Partners provided financing for the takeout of a maturing construction debt; and Edgewood Capital supplies $2.15M for acquisition of non-performing loan.
Condo Prices Up in Three Major West Coast Markets
Condo prices increased significantly in downtown Seattle, Los Angeles, and San Francisco over the past year according to a recent report by The Mark Co.
Wood Partners Begins Construction on Fourth Multifamily Project in Los Angeles County
Wood Partners has broken ground on its 300,000-square-foot Alta South Bay community, marking the company’s fourth multifamily project in Los Angeles County.
Bernards Kicks Off Construction on Glendale Mixed-Use Project
Los Angeles-based commercial builder Bernards has started construction on a 315,391-square-foot mixed-use project in Glendale, Calif., that will take aim at the Gen-Y cohort of renters.
Canyon Multifamily Impact Fund Acquires its First Community
Canyon Capital Realty Advisors and Citi Community Capital announced that they have acquired their first community, The Fountains at Palmdale, for its joint-venture fund, the Canyon Multifamily Impact Fund.
U.S. Bank Completes Financing Deal for Two L.A. Senior Affordable Housing Projects
An important financing deal securing the future of two urban senior housing developments in Los Angeles was completed last week when U.S. Bank confirmed that it is providing $55.1 million for the projects. The two affordable housing complexes have groundbreaking ceremonies scheduled this month. U.S. Bank is working with the Retirement Housing Foundation to get the two developments done. The banking giant will present the organization with a $30,000 check, in support of its current senior housing endeavors.
Construction Begins on New Luxury Residential Development in San Gabriel Valley
Construction has begun on the latest San Gabriel Valley mixed-use development. Hutton Companies recently announced that its new project, La Verne Village, has broken ground and is now set to meet its construction deadline, in Q1 of 2014. The developer is investing approximately $43 million into the luxury apartment community that will be located at 2855 Foothill Boulevard, along the Historic Route 66, in the city of La Verne. Ontario-based NAI Capital is currently handling retail leasing for the property.
Long Beach Senior Affordable Community Finally Holds Groundbreaking
By Alex Girda, Associate Editor A major step was taken to ensure that an important residential development in Long Beach will have new life following a number of funding delays due to redevelopment legislation. However, the Ramona Park senior affordable housing development has managed to pull through and recently held a groundbreaking ceremony, confirming the […]
Mill Creek Residential Announces New Glendale Luxury Apartment Community
Located at 610, N, Central Avenue, the site will be the home of a new, six-story, mid-rise, high-end apartment structure, one of the first properties of its kind for the developer. Resident amenities will include an underground parking facility, a resort-style pool and spa, an around-the-clock fitness center and yoga facility, a resident clubroom featuring a kitchen and business center, as well as two rooftop decks offering views of the nearby Verdugo Mountains.