West
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.
Kennedy Wilson Snags 2 in Salt Lake City for $93M
The firm is planning on initiating its value-add asset management plan on both properties, Santa Fe in Cottonwood Heights and Creekview in Midvale, investing $5.3 million.
IPA Brokers $20M Value-Add Sale in Tucson
The new owner will capitalize on the improvements made by the seller, which led to an 18.5 percent increase in the average monthly rent, compared to last year.
Hunt Mortgage Secures $2M Refi of Age-Restricted Property
The 55-plus community in Boise, Idaho, features 57 units. Freddie Mac provided the $1.8 million refinancing with a 30-year amortization schedule.
CA Senior Housing Sells for Record $16M
Parkwood at Polo Grounds has changed hands in a record sale for apartment communities in Indio, Calif. The age-restricted community features 125 units.