West
New LA Multifamily Casting a Wide Net for Renters
Diversified real estate development and management firm Decron Properties Corp. will hold a ribbon-cutting ceremony on January 27 to recognize the grand reopening of the newly renovated River Ranch Apartments.
TODAY’S DEALS: Colliers Brokers Sale that Sets New Record in Marin County—$570 Per Sq. Ft.
Colliers International closes the sale of the 38-unit Casa Roja Apartments in Mill Valley, Calif.; and HFF arranges $57 million in takeout financing for a property in downtown Denver.
After Many Years, New Residential Tower Will Enter LA Skyline
Trumark Urban will develop 1050 S. Grand, a planned 22-story condominium in Downtown Los Angeles, thanks to $77 million in construction financing.
TODAY’S DEALS: Capital One Multifamily Closes $63.3M Freddie Mac Acquisition Loan
Capital One Multifamily Finance provides a 10-year fixed-rate loan for the acquisition of Artessa at Quarry Village; and a Berkshire Group affiliate purchases a Class-A property in Oakland, Calif.
MG Properties Acquires Luxury Community
MG Properties Group announced the acquisition of Tuscany Ridge Apartments in Temecula, Calif.
Trammell Crow Company Announces Three Promotions
Trammell Crow Company, a national developer and investor in commercial real estate, has announced the promotion of Joel Behrens of Dallas/Fort Worth, Will Parker of Northern California and Brandon Houston of Houston to principals of the firm in their respective city’s business units.
TODAY’S DEALS: HFF Secures $46.73M 30-Year, Fixed-Rate Permanent Loan from M&T Bank
HFF announces it has secured $46.73 million in financing for the recently completed The Trails at Timberline; and BMC Capital provides a $4.8 million loan for a Houston property.
Entering the Bay-Area Multifamily Market with a Multimillion-Dollar Deal
Decron Properties Corp. has acquired Highland Gardens, a 187-unit garden-style apartment community in Mountain View, Calif., for $86 million.
TODAY’S DEALS: NorthMarq Capital Finalizes $35M Freddie Mac Loan
NorthMarq Capital arranges the $34.59 million refinance of Lakeside Terrace Apartments; and Lee & Associates transacts a sale in access of the $9.5 million listing price.
$36M Loan for Waterfront Community Gut Renovation
Far West Management has received a $36 million bridge-to-perm loan to renovate Villa Del Mar Apartment Homes, a 196-unit, four-building multifamily community with 209 boat slips, located on the Marina Del Rey-waterfront.