West
Sunrise Management Opens New Phoenix-Area Office; Names New Regional VP
Phoenix—Sunrise Management has expanded its Southwestern operations, opening a new Phoenix-area office at 1921 S. Alma School Rd., Suite 214, Mesa, Ariz. To keep pace with growth in the region, Kevin Pennel has been promoted from regional real estate manager to regional vice president for the new office and will lead a team overseeing an expanding portfolio of multifamily properties. According to Pennel, the multifamily market in the Phoenix area is robust and because of demand, coupled with its proven track record in the area, Sunrise is expanding in the region. The firm currently manages approximately 3,659 units within 19…
Centerline Closes Choice Loan for Westwood Apartment Refinance
New York-based Centerline Capital Group has closed a $5.6 million Fannie Mae Choice Loan to refinance Sharon Towers Apartments in Los Angeles’ upscale Westwood neighborhood.
Yardi and WhiteFence Take Step to Make Moving into Apartments Easier
A new Yardi® and WhiteFence software integration will allow apartment renters to select electric, cable, Internet, phone and rental appliances online immediately upon signing a lease.
JB Matteson Buys Greater LA Apartments for $82M
JB Matteson has acquired Vanoni Ranch Apartments in Ventura, Calif., for $82 million.
Wood Partners Starts Apartment Development in Suburban Denver
Wood Partners has broken ground on Alta Cherry Hills, a 306-unit apartment community in suburban Denver. The infill project, which will include two five-story buildings on 4.6 acres, should be complete and open for leasing by summer 2014.
Sack Properties, Canyon Catalyst Buy Two SF Multifamily Properties
Sack Properties and the Canyon Catalyst Fund have made two investments in the San Francisco area, acquiring a 116-unit garden-style apartment property in Sunnyvale (Skyline Vista Apartments) and a 44-unit multifamily property in Pacifica (720 North).
Yardi Maintenance Mobile Makes Great Living Even Better at Associated Estates
Yardi Systems Inc. announced that Associated Estates Realty Corporation will deploy Yardi Yardi Maintenance Mobile™ at the company’s 51 properties located in 10 states across the U.S.
The Mark Company Appoints Geoffrey Herrick as Partner
The Mark Company, an urban residential marketing and sales firm, announced Geoffrey Herrick has joined the firm as partner. He was previously senior director, residential sales and marketing at Tishman Speyer Properties.
Auction.com to Sell $600 Million in Performing Multifamily Loans
Auction.com has been retained as the exclusive loan sale advisor for the sale of 447 performing multifamily loans with an unpaid principal balance of $601.3 mil
JV Begins Work on San Diego Apartments
A joint venture between Behringer Harvard Multifamily REIT I Inc and KNR Mission Gorge LLC has started construction on Mission Gorge, which is the tentative name for a multifamily property in the East Mission Valley submarket of San Diego.