West
Berkadia Closes Record Sale in Encinitas
Property West Residential purchased a 120-unit community in San Diego County for $53 million from Equity Residential.
Hunt Mortgage Procures $44M for Seattle Community
Soma Towers consists of two buildings offering 276 units, of which 20 units are affordable. Soma Towers Phase II was developed by Soma Towers DE LLC, in 2016.
Rents Moderate in the San Francisco Bay
Rates have reached a point where even highly paid workers can’t afford the premium prices, despite the metro’s consistent job expansion, robust resident demand and high home prices.
CBRE Facilitates $33M Sale of Phoenix-Area Community
Rivendell Global Real Estate acquired the 208-unit asset in Mountain Park Ranch, a master-planned community that provides access to an array of Mountain Park Ranch HOA amenities, including tennis courts, swimming pools and parks.
Steadfast REIT Purchases $63M Denver Asset
The acquisition of Belmar Villas marked the REIT’s sixth multifamily purchase. The 318-unit community comprises 17 three-story buildings featuring one-, two- and three-bedroom floorplans that will soon undergo renovations.
Demand Outpaces Supply in Salt Lake City
Driven by robust population growth and low unemployment, Utah’s largest city is rapidly expanding, generating healthy housing demand. It continues to appeal to major employers, such as Amazon, UPS and big-brand companies based along the Wasatch Front.
Pacifica Refinances 9 Senior Housing Properties for $78M
Capital One provided the loan for the portfolio, which includes properties in Arizona, California, Florida, Oregon and Utah. The mortgage consists of $67.7 million in initial funding.
Nelson Brothers Acquires 184-Bed Student Housing
The company plans to convert 39 three-bedroom units into four-bedroom units. The community is in close proximity to multiple Pullman Transit bus routes, including an express route to the Washington State University campus.
Bellwether Secures $75M Refi for Luxury Inland Empire Asset
The company arranged a $59 million permanent loan and a $16 million mezzanine loan for a 298-unit community asset in Ontario, Calif.
Avanath Acquires Affordable Asset in Denver
Represented by ARA Newmark, the company purchased the affordable community for $13.6 million and plans to implement light capital improvements and improve operational efficiencies to drive value.