West
4-Property LA Portfolio Lands $267M
George Smith Partners arranged the seven-year, fixed-rate, interest-only, non-recourse loans on behalf of G.H. Palmer. The portfolio totals 1,359 units.
Lee & Associates Brokers $21M Phoenix Transaction
Biltmore Pointe Apartments includes 101 units and was built in two phases in 1959 and 1972. The new owner intends to add value to the investment through a substantial renovation.
CapitalSource Provides Construction Loan for CA Asset
The Nexus will offer 70 units and 238 beds, including a few affordable apartments. The community is in close proximity to University of California, Berkeley’s main campus.
HZ Bags CO Property for $60M
Oxford Station Apartments in Englewood, Colo., is a 238-unit transit-oriented development. At the time of acquisition, the community was 96 percent occupied.
MORGAN Enters Phoenix Market with Luxury Asset
The 474-unit Pearl Biltmore will feature studios and one-, two- and three-bedroom floorplans, as well as several loft-style units. Construction is set to begin in 2018, with completion scheduled for 2019.
Century West Partners Completes NEXT on Sixth in LA
Century West Partners is a joint venture of Fifield Cos. and Cypress Equity. NEXT on Sixth marks the second recently completed development of the joint venture in Koreatown.
CBC Brokers Sale of 3 Historic SLC Communities
Multifamily investors continue to show interest and confidence in the area’s apartment market. Strong demand resulted in multiple offers for all three assets.
CDP Opens Affordable Phoenix Suburb Community
El Rancho del Sol features 47 units and complements the adjacent El Rancho del Arte, a 66-unit property in Mesa, Ariz.
JV Opens AZ Student Housing
The 626-bed community marks the joint venture’s fourth property. Skyview also offers roughly 3,000 square feet of retail space.
Greystone Refinances 131-Unit WA Community
The Henry, a Class A community situated near the Museum of Glass, offers 161 units and 10,500 square feet of office and retail space.