West
TODAY’S DEALS: Forest City Sells Interest in L.A. Apartment Property
Forest City Enterprises Inc. sells 50 percent interest in 264-unit apartment property; Charles Dunn Company closes the sale of a 26-unit apartment complex for $2.8 million; and Hendricks & Partners brokers the sale of an affordable seniors apartment property.
$1B Sonoma Mountain Village Garners LEED-ND Certification
Rohnert Park, Calif.–Sonoma Mountain Village, a $1 billion mixed-use green community near San Francisco, will ultimately feature 951 apartments and condominiums and a bevy of commercial offerings.
San Bernardino Apartments to Be Reborn as Affordable Seniors Housing
San Bernardino, Calif.–Meta Housing Corp. has closed escrow on the 119-unit Sunset Cove Apartments, with plans to relocate the current tenants, rehab the property and convert it to affordable housing for seniors.
Enterprise Provides $1.5M to Help Meet Affordable Housing Need
Los Angeles–Enterprise Community Partners Inc. has culled $1.5 million to aid sustainable low-income housing projects in an area where supply of affordable housing has been out of pace with demand.
New Apartments Planned for Former Retail Site in Glendale
Glendale, Calif.–American Post Development has formed a joint venture with a BlackRock-managed fund to develop the 208-unit Broadway Lofts in Glendale’s entertainment district.
St. Anton Secures Funds for $57M Suburban SF Mixed-Income Project
San Ramon, Calif.–St. Anton Partners has managed to obtain a $48.6 million loan with relative ease for Highlands Point Apartments, its $57 million San Francisco Bay-area project.
Room with a View: Waterfront at Pu’uloa in Honolulu
Honolulu, Hawaii–The Waterfront at Pu’uloa, 30 miles west of Honolulu in Ewa Beach, continues to be a desired location for both military and civilian families.
JV Acquires SoCal Student Housing for $43M
Riverside, Calif.–Among other perks, the Palms on University boasts a fitness center, computer lab, game room, tanning salon, pool and spa, and outdoor basketball and volleyball courts.
The Crossing Achieves LEED Gold Status in Orange County
Anaheim, Calif.–SARES-REGIS Group’s transit-oriented The Crossing has officially achieved LEED Gold certification.
DEAL OF THE DAY: Raintree Acquires Its Eighth Property in 2010 for $16.7M
Livermore, Calif.–Raintree Partners completed the acquisition of Meadowbrook Apartments, a 125-unit multifamily property in Livermore, Calif.