West
IPA Secures $24M Refi for OC Community
The company arranged the refinancing for Castlewood Park, a 184-unit property in Buena Park, Calif. The debt placement was locked at below-market-rate interest.
Hunt Mortgage Provides Refi for LA-Area Community
The company worked on behalf of The Highlander Group to secure a $5.2 million Freddie Mac loan for Candlewood Apartments, a 43-unit affordable property in Whittier.
JV Acquires $50M CO Community
Completed in 1998, the 220-unit Bluffs at Castle Rock offers a mix of one- to three-bedroom units and is located roughly 30 miles from downtown Denver.
Developer Secures $234M for LA Portfolio
G.H. Palmer has obtained cash-out refinancing for Medici and Orsini I, both luxury assets located downtown.
Boise Mid-Rise Community Opens
The Fowler multifamily development broke ground in early 2016 and features 159 apartments over two street-level retail spaces.
Bell Partners Snaps Up SoCal TOD for $123M
Avaire South Bay, a 264-unit community that has been renamed Bell South Bay, includes a yoga studio, cyber cafe, game lounge and bike room.
San Diego Senior Housing Lands $82M Refi
Fannie Mae has provided its first Green Rewards loan for Paradise Village, a 394-unit Class A community in National City, Calif.
MIG Real Estate Buys Phoenix Community for $22M
Western Wealth Capital’s investors obtained an annualized return of more than 30 percent for the 216-unit Trails at Harris. The transaction represents the Canadian company’s 11th successful divestment to date.
Origin, Aegon Invest $71M in Denver
The 320-unit Advenir at Saddle Rock offers 20 four-bedroom units, a rarity for the area. To improve the 2002-built property, the new owners plan to invest sizable capital.
Strength of the Inland Empire
Rents continue to grow at a solid rate, thanks to steady job gains as the region’s economic cornerstone, the industrial sector, is surging.