West
Deliveries Slated for Cycle Peak in San Diego
Strong demand and a relatively slow pipeline keep the city as one of the country’s most stable multifamily markets.
Aukum Group Buys Phoenix Asset for $41M
The Praedium Group sold Adobe Ridge, a 224-unit community in Glendale, Ariz., in a deal facilitated by Institutional Property Advisors.
Greystone Provides $71M for San Jose Community
The company facilitated a Fannie Mae DUS loan for 251 Brandon St., which includes a 10-year fixed rate, eight years of interest only and a 30-year amortization period.
MBK Senior Living Acquires $382M Portfolio
The properties, which recently underwent $25 million in capital improvements, include nine senior housing communities across California, Washington and Arizona, totaling 1,200 units.
Opus Group Delivers Denver Luxury Community
The Centennial property includes 306 units and wraps around a central parking garage, which allows residents to park on the same floor as their apartment.
Atlas Real Estate Group on Denver’s Multifamily Outlook
Co-founder Jason Shepherd explores the investment market and new development trends he’s seeing, such as the rise of micro units.
Certé Group Snags $18M for AZ Asset
CBRE arranged the financing for Avilla Heights, a 116-unit luxury community in Chandler.
TruAmerica Sells Las Vegas Community for $72M
Solis at Flamingo comprises 524 units across 34 buildings. The asset recently underwent major renovations and at the time of the transaction was 94.1 percent occupied.
Demand, Deliveries Maintain Rent Growth in the Inland Empire
Bolstered by population gains, multifamily demand continues to be strong for both Lifestyle and Renter-by-Necessity assets across the metro, where rents are expected to rise by 4.4 percent in 2018.
Pathfinder Snags 125-Unit Seattle-Area Community
The company purchased Astoria Apartments—located in the Fife submarket—for $18 million and is planning extensive renovations of the 36-year-old asset.