West
Changing the Perception of Affordable Housing
Affordable housing goes beyond the concept of Section 8 housing and government assistance. Industry experts at the National Apartment Association’s Apartmentalize conference shared the benefits that this asset class can bring to a neighborhood.
Orange County Community Sells for $28M
Marcus & Millichap has arranged the sale on behalf of Stellko Properties, a 1031 exchange buyer. The acquisition was financed with $14.7 million.
Supply vs. Demand: Multifamily’s Tug of War
At the National Apartment Association’s Apartmentalize conference in San Diego, experts shed light on generational changes, rent control and other crucial issues facing the industry.
Akara Partners Buys Land for Downtown Phoenix Tower
The project, Kenect Phoenix, is set to comprise 320 units across 23 stories, and feature multiple rooftop amenities, as well as 8,000 square feet of ground-floor retail.
Nexus Brokers 1031 Exchange Denver-Area Sale
Investment Advisor Sean Holamon represented seller Harmony Premier Properties in the disposition of the eight-unit asset. The new owner is planning upgrades in order to increase rent.
$39M Affordable Housing Breaks Ground in LA
Meta Housing Corp. has started construction on Whittier & Downey. The transit-oriented community will feature 35 units.
Canfield Development Builds $22M LA Apartments
The Kenmore, a 69-unit development in Koreatown, will be designed by Nadel Architects and include VIP cabanas, a spa and a package-delivery system.
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.