West
MG Properties Acquires 2 WA Assets for $133M
The company purchased Beaumont in Woodinville from Guardian Life Insurance Co. and Newberry Square in Lynwood from Fairfield Residential. Totaling 467 units, both communities will undergo interior and exterior renovations.
Interest Stays High in LA
Rent growth continues to derive from a disconnect between growing supply in the Lifestyle segment and demand for workforce properties.
Pinnacle Taps New VP to Run Northern CA Region
Mark DeGraff will provide support to four regional property managers with a combined portfolio of more than 5,000 apartments located throughout Sacramento, the San Francisco peninsula and the East and South Bay.
Affordable Housing Opens in Alaska
Funded by low-income housing tax credits from WNC, the 23-unit property in Anchorage was constructed on the site of a former restaurant.
Campus Advantage Expands NM Footprint
The Flats at Ridgeview, expected to open in fall 2018, will target students at New Mexico State University and Burrell College of Osteopathic Medicine.
Berkadia Arranges $157M Loan for CA Properties
The company worked on behalf of Realty Center Management, which used the Fannie Mae loan to refinance existing debt on four assets.
Climb Markets New Bay Area Apartments
The newly constructed market-rate community in Point Richmond features a roof deck, bicycle parking and landscaped common areas in an accessible location.
LaSalle Investment Management Buys CO Community
The 20-building property was 93.1 percent occupied as of October. The community is close to major employment centers such as Denver tech Center and Lucent Business Park.
RED Mortgage Welcomes New President
Trent Brooksbrings more than three decades of executive leadership experience in the multifamily industry.
RedHill Realty Acquires Phoenix Asset for $25M
The company plans to continue the renovation process initiated by the previous owner, Stratford Partners, which was represented in the transaction by Institutional Property Advisors.