Compton, Calif.–The community will be home to financially challenged elderly residents with physical disabilities.
Olympia, Wash.–The goal of the fund is to encourage the addition of sustainable features.
Escondido, Calif.–The apartment community will be built in a neighborhood plagued by street gangs, drugs.
Denver, Colo.–Hendricks & Partners executed the sale of The McFee, located at 60 Corona Street in Denver, Colo.
San Diego–Monce and Mann talk to MHN about using advanced analytics to set price-points
Irvine, Calif.–Laura Khouri has been appointed president of Western National Property Management.
Portland, Ore.–Atlanta-headquartered Apartment Realty Advisors (ARA) recently opened its Portland, Ore. office, under the leadership of Gail Neuburg, former co-owner and operator of Portland-based Tilbury, Ferguson & Neuburg, Inc. This is ARA’s 20th location and expands its existing Northwest presence—ARA’s Seattle, Wash. office opened in 2007. According to Neuburg, “The ARA platform will substantially enhance our service delivery to our clients by allowing us to immediately leverage off of the relationships, knowledge and infrastructure of this powerful team of brokers.” Neuburg and her team will continue to specialize in representing both institutional and private capital owners and investors in the…
San Diego–HFF (Holliday Fenoglio Fowler LP) has arranged $18 million in financing for The Highlands.
Irvine, Calif.–NWP Services Corp. (NWP) will introduce its next generation utility management offering, UtilitySmart, at the National Apartment Association’s (NAA) Annual Education Conference and Exposition on June 24-26 in New Orleans, La. “UtilitySmart is an all-new utility management suite of products that wholly targets one of multifamily properties’ largest operating expenses: utilities,” says Michael Radice, president and CEO of NWP Services Corporation. “With it, owners and operators can effectively control, manage and plan utility spend with precision, and as a result, gain measurable increases in Funds from Operations (FFO), Net Operating Income (NOI) and asset value of their properties,” Radice…
MARKET SNAPSHOT: Despite Rent and Occupancy Declines, Transaction Volume in Los Angeles Reaches Its Peak
Los Angeles–While valuations vary between submarkets, the local economy has caused declines in rental rates and increases in vacancy throughout the Los Angeles MSA.