West
SoCal Community Sells for $5M
Stepp Commercial brokered the sale of the property located in the Bixby Knolls neighborhood of Long Beach, Calif.
Suburban Phoenix Community Receives $17M
HFF represented the partnership between Western Wealth Capital and an MDC Realty Advisors USA Inc.-managed fund. CIT Bank provided the five-year loan.
MRK Partners Takes LA Pair for $109M
Located in Claremont and Santa Fe Springs, Calif., the 38-year-old communities total almost 300 units. CBRE’s Affordable Housing team secured Freddie Mac financing and represented the seller.
New Supply Tempers Rent Growth in Denver
The metro’s steady job additions and population gains have rapidly pushed up housing demand. But the resultant heavy apartment development has put a damper on rent growth.
San Diego-Area Community Trades for $14M
Curtis Properties sold the 62-unit, garden-style asset, which is situated east of central San Diego and dates back to 1974.
Dalan, VM Management Buy 138-Unit Phoenix Asset
The previous owner acquired the property in 2015 for $10.7 million and renovated it extensively before placing it back on the market.
Downtown San Jose Community Sells for $13M
Levin Johnston has brokered the sale of First Street Manor, a property located in downtown San Jose, within two miles of the city’s future Google Village.
CPP Buys 2 Salt Lake City-Area Affordable Properties
The assets, totaling 98 units, traded for $14.3 million. The firm succeeded in fully integrating the communities into the Section 8 housing program.
Alpha Wave Goes Shopping in Vegas
The company acquired Cypress Springs Apartments, located where new supply is somewhat limited compared to the metro’s other areas. The firm will invest approximately $1.7 million in capital improvements.
Advenir Secures $173M to Refinance Denver, Houston Properties
HFF arranged the loans on behalf of the borrower through Freddie Mac’s CME Program. Proceeds will refinance floating-rate debt on five assets.