West
Berzack Group Joins Lee & Associates
Sherman Oaks, Calif.–The Berzack Group, led by President Warren Berzack, has joined Lee & Associates.
First Phase Underway for Denver’s Dahlia Square Affordable Seniors Apartments
Denver–McDermott Properties already has a waiting list for its Dahlia Square Senior Apartments, and they’re only in Phase One of construction.
TODAY’S DEALS: Cohen Financial Obtains Lower Interest for $8.7M Loan
Cohen Financial arranges an $8.7M loan for the acquisition of Marcus Pointe apartments, and CT Realty and WLCM’s joint venture acquires a cluster of value-added opportunities for $10M.
Southern California on Its Way Back to Health
SoCal may not return to true health until 2013-2014, but institutional buyers are bidding for quality properties.
TODAY’S DEALS: Marcus & Millichap Brokers Sale of Apartments in North Hollywood
Marcus & Millichap brokers sale of the Morrison Apartments in North Hollywood, and Bay Apartment Advisors oversees an apartment sale in Oakland, Calif. for $134K per unit.
L.A. Greenlights Wilshire Blvd. Multifamily Development
Los Angeles–The Los Angeles City Council approved plans this week for The Vermont, a 464-unit apartment complex with ground-floor retail and a public park.
Affordable Housing Project in Suburban Seattle Obtains Financing
Kirkland, Wash.–Saint Andrew’s Housing Group has won financing for construction of Francis Village Apartments through $10 million in Low Income Housing Tax Credits.
Prometheus Clears Site for TOD Development
Mountain View, Calif.–Prometheus Real Estate Group Inc. has cleared a site in downtown Mountain View for a new 203-unit apartment complex.
Nevada Multifamily and Other CRE Assets Head for Auction Block
Irvine, Calif.–A real estate auction of Nevada property and notes with a nominal value of $1 billion has been slated for next month by Auction.com and Archetype Advisors.
Abode Begins Work on SoCal Affordable Seniors Housing Projects
Los Angeles–Abode Communities broke ground recently on two new affordable seniors housing projects in greater Los Angeles, Terra Bella in Bell Gardens and Hudson Oaks in Pasadena.