West
North Phoenix Community Commands $32M
The sale marked the submarket’s largest per-unit price over the past 12 months. The previous owner implemented a complete exterior renovation program, including upgrades to the amenity package.
Hamilton Zanze Trades ABQ Community
Thayer Manca Residential acquired the 264-unit Class B community, with Zions Bank providing more than $25 million in acquisition financing.
HFO Investment Real Estate Brokers Portland Communities
MG Properties Group paid $60.5 million for Westview Heights, a 197-unit asset located in the city’s Bethany neighborhood. The 172-unit Binford Garden Townhomes commanded $30.8 million.
JV Breaks Ground on SF Student Housing Project
In addition to the new student community—a public-private partnership of SF State and the developers—the university will open a four-story academic building totaling 76,000 square feet.
TA Realty Pays $138M for Orange County Asset
Seacrest is one of only four properties with more than 100 units in San Clemente, Calif. The asset changed hands with help from CBRE.
South OC Community Trades for $93M
TH Real Estate is the new owner of Avana San Clemente, a 250-unit property. The 17-building asset last traded three years ago.
HFF Arranges $41M San Francisco-Area Portfolio Sale
The properties include Atherton, Brewster Ames, Tivoli Gardens and Lancaster Arms, totaling 201 units. At the time of the sale, the communities averaged a 97 percent occupancy.
Tower 16 Acquires 4th Las Vegas Property for $30M
Along with its joint venture partner, Henley USA, the firm will invest $4 million to upgrade the community. Pinnacle will handle property management services.
LA Community Gets $41M Loan
Panoptic Development’s 154-unit community is located in the Canoga Park section of the San Fernando Valley. NorthMarq Capital arranged the construction financing for the property.
OC Senior Living Facility to Undergo $30M Renovation
R.D. Olson Construction has begun work on the Atria Senior Living property in Newport Beach, Calif. Plans call for a new South wing and a fully renovated North building.