San Diego
Marcus & Millichap Leads San Diego County Community Sale
A family trust sold Villa Quixote, a 78-unit apartment community in Escondido, Calif., for $11.8 million. The community was built in 1969, presenting the buyer with an opportunity to renovate the property and raise rents.
On the Market: 5 Interesting Listings for the Week of 5/8
This week’s listings include a Phoenix garden-style community for $1 million and a well-designed urban property in Portland.
Pacific Urban Snags $30M San Diego-Area Asset
Located in Oceanside, Calif., the 136-unit community features 11 two-story buildings. The property also has a condo map and units could be sold individually.
Warmington Properties Secures $190M for Portfolio Refi
Walker & Dunlop Inc. structured five Freddie Mac loans and one Fannie Mae loan, totaling $190.2 million, with 10-year terms and 30-year amortization schedules, to refinance nine California and Nevada communities held by Warmington Properties. Warmington began a value-added program across its portfolio in 2014, including the complete renovation of property amenities, building exteriors and unit interiors.
Berkadia Closes Largest San Diego Apartment Transaction
American Assets Trust acquired Pacific Ridge, a $232 million luxury community that includes 533 units and is 95 percent occupied.
Sunrise to Helm Lease-Up at Luxury SoCal Community
Located east of San Diego in El Centro, Calif., the project will comprise 242 units developed in three phases. Leasing of the 84-unit, $12 million first phase is underway.
San Diego Apartments Snag $38M Refi
KeyBank Real Estate Capital arranged the financing, 12-year term, seven-year interest only period and a 30-year amortization schedule for the 255-unit Stonewood Garden Apartment Homes.
Xpera CM Wraps Up San Diego Affordable Community
Tenants are already moving into the 205-unit building developed by Wakeland Housing and Development Corp.
Changing Strategies for Multifamily Investment
In this video, David Blatt, CEO of investment bank Capstack Partners, discusses financial strategies under the new administration, how rising interest rates will impact multifamily deals and how the energy market rebound will change the demand for housing.
Condo Community Breaks Ground in San Diego
Cornerstone Communities and Presidio Residential Capital plan to start marketing the property in August 2017.