West
Harbor Group International Acquires $81M Phoenix Property
The new owner will invest $5 million in capital improvements.
Metro Seattle Asset Sells for $66M
The 114-unit community on Bainbridge Island is LEED Gold certified.
McKinney Capital Breaks Ground on Workforce Housing
The North Park community will be within 5 miles of downtown San Diego.
Sentral and OliverBuchananGroup Build Denver Flex-Living Project
Sentral will manage the community’s 300-plus units and will offer flexible lengths of stay.
Andover Properties Buys Bay Area Storage Facility
The 17-building property will be rebranded under Storage King USA.
San Francisco Affordable Community Breaks Ground
The 221-unit 7th and Brannan is slated for delivery in summer 2024.
Inland Empire Mixed-Use Project Gets Green Light
The 12.2-acre development will rise on the site of a former mall in downtown Redlands, Calif.
Los Angeles Four-Community Portfolio Sells
The seller was a partnership between an operator and a commercial real estate developer.
Las Vegas Multifamily Report – August 2022
The pandemic slammed Las Vegas’ ascent, and after a swift economic surge in 2021, the performance of the local economy tempered to a steady recovery. This was mirrored by the multifamily market, with rent expansion moderating after a strong run, up 0.6 percent on a trailing three-month basis through June, to $1,525, trailing the 1.1 percent U.S. rate. The metro recorded a slowdown during the first half of 2022, with occupancy marking the largest decrease among major U.S. metros, down 1.4 percent in the 12 months ending in May, to 95.1 percent. READ THE FULL YARDI MATRIX REPORT Las Vegas…
SB Real Estate JV Pays $56M for Phoenix Asset
The acquisition consolidates the partnership’s Southwest multifamily expansion.