West
Inland Empire Shows Strength
Backed by a booming industrial market, the metro added 48,000 jobs in the 12 months ending in July. Apartment deliveries have been slow throughout the cycle, but that is likely to increase as demand continues to push rents higher.
HFF Provides $17M Loan for SF Community
Local Capital Group received the loan for the development of 901 Tennessee, a class A asset in San Francisco’s Dogpatch neighborhood.
MG Properties Buys 321-unit Senior Community
The senior housing community is located in close proximity to major employers such as Microsoft, AT&T, Nintendo and Expedia. CBRE worked on behalf of the seller.
Santa Ana Asset Trades for $20M
Marcus & Millichap announced the sale of Sherry Lane Garden Homes. The 62-unit apartment traded for $19.8 million.
Marcus & Millichap Duo Sells 2 in Las Vegas
Las Palmas and The Rubix traded for $39.3 million. New plans include capital improvements and focus on military housing.
Sacramento’s Affordable Housing Crisis
Is the city aggressive enough in solving affordable housing problems? Mayor Darrell Steinberg doesn’t think so.
Security Properties Acquires $43M Sacramento Community
The 16-building community feature one- and two-bedroom units averaging 817 square feet. Cushman & Wakefield worked on behalf of the seller and the buyer in the transaction.
Top 10 Portland Apartment Owners
Demand is on the rise in the city again, after three years of increased development. Rent growth continues to slow down and is now on par with the national average.
Dougherty Closes $14M Loan for Minneapolis Asset
The company worked on behalf of the borrower, Eagan Apartment Associates LLP, to close the 12-year term loan. The community was 98.2 percent occupied as of August.
KTGY-Designed, Mid-Century-Styled CA Property Breaks Ground
Summerhill Apartment Communities’ The Theo, located in Pasadena, addresses its historic surroundings: a 120-year-old cedar tree and the Theodore Parker Lukens House, a 130-year-old Victorian structure.