West
29SC Expands Into Sacramento With 110-Unit Community
The company plans to spend $1.3 million in capital improvements in the property located in Citrus Heights, Calif., a submarket with a more than 8 percent rental rate growth.
JLL Snags Investment SVP in SoCal
With more than a decade of experience, Christopher Arvizu will focus on multifamily sales in Orange County and the Inland Empire as part of the firm’s capital markets team.
LMC Tops Off San Diego Mixed-Use Project
Shift, a 368-unit community located in the East Village neighborhood, includes a 21-story tower and two five-story low-rise buildings.
Bernards Breaks Ground on 115 KSF Student Housing
The company is aiming for an August 2018 completion on the 114,970-square-foot facility at the University of La Verne. The project will be the first one in the university’s newly approved Facilities & Technology Master Plan.
Pathfinder Acquires $16M Senior Housing
The company formed a joint venture with Denver-based Hillcrest Development Group to purchase Shalom Park Senior Living Campus. Pathfinder will implement a $3 million renovation plan and will rebrand the property as V-Esprit.
10 Markets with the Greatest Occupancy Loss
Supply growth is outpacing demand in many areas, causing a decrease in occupancy rates. Here is a list of the 10 markets with the greatest loss in occupancy year-over-year as of April 2017.
CBC Advisors Completes 2 West Coast Multifamily Sales
The Cove at Overlake in Tooele, Utah, and student housing community The Pines, in Rexburg, Idaho, changed hands in two off-market transactions totaling 204 apartment units.
Domus Development Taps New President
Maurice Ramirez brings more than 25 years of industry experience to his new role, having contributed to the development of thousands of affordable housing units in California.
Avanath Doubles Sacramento Footprint
In a $56.5 million deal, the company has acquired an affordable housing portfolio totaling 468 units in one of the nation’s hottest markets. The properties cater to seniors, families and mixed-income renters.
Ares, TruAmerica Buy Metro Phoenix Property for $31M
The joint venture plans a multi-million-dollar capital improvement program at Broadstone Gateway, a 240-unit community in Avondale, Ariz.