West
Two Affordable Housing Projects Developed in L.A.
Thomas Safran and Associates has developed Del Rey Square Senior Apartments, a 124-unit community in the upscale neighborhood on the Westside of Los Angeles, while AMCAL Multi-Housing has developed Portola Terrace, a 45-unit affordable community for families and young professionals in historic Temecula in Riverside County.
High-Rise Apartments Break Ground in Seattle
GID Development Group has broken ground on a 41-story residential tower at 2030 8th Avenue in downtown Seattle. The property, which is across the street from Amazon’s new major office expansion, will include 355 units.
Gates Hudson Adopts the Yardi Multifamily Solution
Yardi announced that real estate investment and management firm Gates Hudson selected Yardi Voyager™ as its new property management and accounting platform.
Waterfront Property in Portland Bags $38.9M in Financing
Salpare Bay LLC has obtained $38.9 million in construction financing for the development of the first phase of the Residences at Yacht Harbor. When complete, the property will be a 373-unit waterfront apartment community in Portland.
MARKET SNAPSHOT: Rent Growth Expected to Stall as Deliveries Ramp Up in Portland
Set to dwindle from its post-recession peak, the Portland, Ore., metro is expecting slight vacancy increases along with a precipitous contraction in rent growth in the coming years.
B.H. Properties Acquires Terrace Park Apartments in Phoenix
Los Angeles-based commercial real estate investment firm B.H. Properties LLC has purchased Terrace Park Apartments in Phoenix.
SoCal Master Planned Community Trades Hands
Toscana, a 960-acre site of a master planned community south of the city of Corona in Riverside County, Calif., has traded hands. The plan for the site calls for a mix of single-family and multifamily residences.
TODAY’S DEALS: Carroll Organization Acquires Properties in Florida, Georgia and Tennessee for $102.5M
Carroll Organization, along with investment partner NorthStar Realty Finance Corp., has acquired four multifamily properties; and BH Properties purchases a Phoenix property for $6.2 million.
NWP Receives PCI Level 1 Certification
NWP Services Corporation announced it has been validated as compliant with the Payment Card Industry Data Security Standard (PCI DSS) as a Level 1 service provider for the fourth consecutive year.
Larry Sullivan Named President of Passco Companies
William O. Passo, founder and CEO of Passco Companies LLC, has announced the appointment of Larry K. Sullivan as president of the company following the resignation of former president William H. Winn, effective May 30, 2013.