West
Bascom Group Nabs CA Property for $33M
The company plans to renovate the 123-unit Sunset Cove Apartments, a 48-year-old infill community in Costa Mesa.
On the Market: 5 Interesting Listings for the Week of 4/30
This week’s listings include a newly renovated age-restricted community in Vegas and a turnkey asset in central Richmond, Va.
SCB Designs 1,600-Bed Living/Learning Community
The mixed-use student housing property serves those attending Arizona State University and offers seven social and study lounges, six academic centers and two maker labs allowing students to work on projects.
ARA Newmark Hires Brokerage Expert
With almost 20 years of industry experience, Brett Polachek will be responsible for originating and managing multifamily investment sales across Arizona.
Olympus Property Launches 8th Fund
The firm added 869 units to its portfolio with the purchase of Olympus Steelyard in Chandler, Ariz.; Sundance Creek in Midland, Texas; and Sedona Ranch in Odessa, Texas.
Demand Shines in Seattle
The metro’s multifamily rent growth continues to outpace the national average, due to healthy demographic trends, steady job gains and escalating household formation.
L5 Investments Buys Suburban Seattle Property for $15M
Montrose Apartment Community in Burien, Wash., includes 97 units, a fitness center, a pool and a playground.
WA Property Lands $11M Freddie Mac Refi
Completed in 2017, The Commons at Innovation Center is part of the Tri-Cities Research District in Richland and comprises 150 units.
Sares Regis Picks Up San Diego Asset
The company financed the acquisition of the 344-unit property with an $80 million loan, which will also be used to fully redevelop it.
Upscale Units Drive Rent Growth in San Jose
The metro’s affordability issues are likely to continue, since multifamily developers are focusing on high-end assets, which are more profitable than working-class units.