West
Stepp Facilitates Record-Breaking LA Sale
The sale of Atwater Avenue Apartments achieved the highest price per unit and price per square foot ever paid for comparable properties in LA submarket Atwater Village.
ABI Multifamily Brokers $2M Sale in Phoenix
Pierson Palms Apartments traded hands between private investors from California and Arizona. ABI Multifamily represented both parties in the $2.22 million transaction.
Hines Completes Entitlement Phase of AZ Project
Hines completed the entitlement phase of Asteria Highlands in North Scottsdale, the company’s first Arizona single-family residential project. Construction will start in 2018.
JV Acquires San Diego’s Broadstone Corsair
Olympus Property and Artemis Real Estate Partners are rebranding the 360-unit community Olympus Corsair. It is the city’s only LEED Gold-certified market-rate community.
JV Sells Downtown Santa Monica Mixed-Use Asset
The Marcus & Millichap division represented Century West Partners and BlackRock Realty Advisors Inc., and also procured the buyer. Chelsea Santa Monica includes 53 units and almost 6,000 square feet of retail space.
Hollywood Apartment Community Trades for $11M
NNC Apartment Ventures expanded its California portfolio with value-add 42-unit residential property. The asset is located near popular destinations.
Roxborough Acquires First Phoenix Community
The 168-unit property is located in the Paradise Valley submarket, adjacent to the Paradise Valley Mall. The company tapped Alliance Residential Co. as a third-party manager.
Johnston Properties Adds New Development in Phoenix
The owner of Agritopia and Barnone, two developments in Gilbert, Ariz., entered a joint venture with IPA/Liv Communities to develop its third community in the area. The project is slated to break ground this fall.
JV Acquires $41M CO Community
The 280-unit Lamplight Square at the Park is located in Colorado Springs. Griffis/Blessing plans to upgrade unit interiors, as well as the outdoor/indoor pool and the fitness area.
South Salt Lake City Property Trades for $67M
On behalf of a private investor, Marcus & Millichap arranged the sale of Lionsgate, a 15-building multifamily property in Murray, Utah. The 400-unit asset is located within minutes of Interstate 15.