West
Bascom Group Buys South Bay Community
The company plans to revitalize the 64-unit infill community in Torrance, Calif. This is the firm’s 37th multifamily property in Los Angeles County.
Orange County Community Trades for $17M
California Landmark Group bought the 86-unit property built in 1973 from a private investor. This is the company’s first Orange County acquisition.
MHN’s Top 5 April 2017 Articles
Miss out on any MHN stories in April? Here are five of our most popular articles for the month, including the top 10 apartment owners in Los Angeles and the status of Chicago development.
TruAmerica Buys Denver Community for $53M
The company partnered with Magnolia Real Estate Fund to acquire the 287-unit asset. The companies will implement a renovation plan which will include improvements to common, interior and outdoor areas.
Capital One Provides Freddie Mac Loans for 8 Properties
The financial company closed on $15.5 million in loans for the refinance or acquisition of a more than 200-unit portfolio. The properties are located in California and Arizona.
Bell Partners Nabs 306-Unit Denver-Area Community
Alta Cherry Hills marks the company’s second 2017 acquisition. The property is located near two of the metro’s largest employment areas.
MJW Property Buys SoCal Asset for $44M
Berkadia completed the sale of the 230-unit community in Menifee, Calif., at a sub-4.4 percent cap rate. The asset had an occupancy rate of 95.7 percent last month.
San Diego Apartments Snag $38M Refi
KeyBank Real Estate Capital arranged the financing, 12-year term, seven-year interest only period and a 30-year amortization schedule for the 255-unit Stonewood Garden Apartment Homes.
US Residential Welcomes New EVP
Laurie Lyons, a 30-year veteran of the apartment industry, will be responsible for growing the company’s third-party management portfolio. She will be based in Denver.
LINC Opens LA-Area Affordable Community
Mosaic Gardens at Willowbrook is a $20 million development built for low-income families and homeless households, with support from several public and private entities. The latest homeless count shows there are nearly 47,000 homeless in Los Angeles County.