West
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.
American Capital Group Begins Sacramento Development
The Kinect at Southport community is ACG’s third Western U.S. transaction this year.
Brickstone Lands Boulder Student Housing Refi
Blackstone Real Estate originated two senior loans for the downtown community.
Byrd & Scanlan Buys Albuquerque Asset
Northmarq represented the seller and secured acquisition financing for the buyer.
Weidner Sells Inland Empire Asset for $65M
The property last traded for $24 million.
HARRI5 Closes 1,230-Unit MHC Sale in Arizona
The buyer used a $26.4 million loan held by Voya Investment Management to finance the acquisition.
Wolcott Group Sells Tucson Asset for $37M
The property last traded for $7.5 million.
CPP Buys 3 Affordable Communities for $49M
All three properties, located in California, New Mexico and Arizona, are being renovated.