West
Wood Partners Begins Construction of Portland Asset
The Oregon development, which will include 138 apartments above 6,000 square feet of street retail space, is situated just outside the city’s downtown area.
Tempe Luxury Property Trades for $73M
Transwestern Development built the 290-unit Vela Apartments in partnership with a private investor. The developer obtained $34 million in construction financing from Bank of the Ozarks.
JV Buys 240-Unit AZ Community
Continental Realty Advisors and GTIS Partners acquired San Palmas at Mission Park in Chandler. The property includes 30 two-story buildings and a clubhouse, a fitness center and a volleyball court.
Newman Garrison + Partners Bringing TOD to CA
Construction on the 352-unit project in Woodland Hills is expected to commence in 2019 and is slated for completion by 2022.
On the Market: 5 Interesting Listings for the Week of 3/5
This week’s multifamily listings include a portfolio in Denver’s Glendale market and newly converted condominiums in Scottsdale, Ariz.
Matthews Brokers Record-Breaking Sale in LA
The property located near downtown Los Angeles traded for $9.7 million, which equates to $247,436 per unit and ranks as the highest price per unit in the area.
Seattle Senior Housing Lands $115M
Columbia Pacific Advisors has received financing for 620 Terry, a 243-unit development that will include a concierge, a club room and a theater.
Decron Re-Opens Renovated CA Property
The firm invested $10 million to renovate the 440-unit Reserve at Chino Hills, modernizing the kitchens and flooring, as well as building a two-story clubhouse.
ABI Brokers $2.4M Value-Add Acquisition in Tucson
The 26,800-square-foot community received extensive renovations in 2017, with the current ownership having opportunity to finish interior upgrades and increase market value.
Western Wealth Completes $6M Divestment in Phoenix
The Canadian company initially bought a stake in the community in 2015, with the current transaction representing a 32 percent price increase compared to the original acquisition.