West
NAHB Recognizes West L.A. Condo Project as “Trend-Setter”
Los Angeles–NAHB has recognized T Lofts, an 84-unit condo redevelopment project in Los Angeles, as a “top trend-setter in the multifamily housing industry.”
DEAL OF THE DAY: Charles Dunn Represents Buyer in $1.9M REO Sale by Citibank
Los Angeles–Michel Hibbert of Charles Dunn Company negotiated a $1.9 million sale of a 19-unit apartment complex in Los Angeles.
DEAL OF THE DAY: Marcus & Millichap Brokers $52.3M Sale of Apt. Property in Bay Area
Burlingame, Calif.–Marcus & Millichap has brokered the $52.3 million sale of Skyline Terrace, a 138-unit, 174,371-square foot multifamily property in Burlingame, a suburb of San Francisco.
DEAL OF THE DAY: Berkadia Advances $42.66M Freddie Mac Capital Markets Loan for Acquisition
San Diego–Berkadia Commercial Mortgage originated a total of $42,660,000 in fixed-rate debt through the Freddie Mac Capital Markets Execution (CME) program for the acquisition of Canyon Hills and Flower Fields, two multifamily properties in San Diego County.
DEAL OF THE DAY: Colliers Represents Hamilton Zanze in $9.7M Sale
Mesa, Ariz.–Colliers International-Greater Phoenix negotiated the sale of Sorrento Apartments, a 226-unit multifamily property located at 901 South Dobson Road in Mesa, Ariz., for $9.7 million or $42,920 per unit.
DEAL OF THE DAY: RED Provides $36M in Fannie Mae DUS Financing for Randall Realty’s West Coast Properties
Columbus, Ohio–Red Mortgage Capital, LLC, one of the nation’s top Fannie Mae DUS lenders and the mortgage banking arm of comprehensive capital provider, Red Capital Group, structured Fannie Mae DUS multifamily financings for The Randall Group.
Santee Court Deal Shows Investor Interest in Adaptive Reuse Multifamily
Los Angeles–Santee Court, a 165-unit adaptive reuse multifamily property in three closely related downtown Los Angeles buildings, has traded hands for $31.1 million.
DEAL OF THE DAY: Stalled Condo Project in Scottsdale, Ariz. Sells for $237,800 Per Unit
Scottsdale, Ariz.–Hendricks and Partners brokered the sale of the former condo project Ten Wine Lofts, located at 7126 E. Osborn Road in Scottsdale, Ariz.
Houston Condo Development Sold After Protracted Bankruptcy Proceedings
Houston–Gramercy Park Condominiums, a mid-rise multifamily property in the Medical Center submarket of Houston, has been sold out of bankruptcy.
Rick Castro Joins NWP Services as Managing Director, ISO/Lean Six Sigma Quality Programs
Irvine, Calif.–Rick Castro recently joined NWP Services Corp. (NWP) as managing director of its ISO and Lean Six Sigma Programs, reporting to Vaughn Chase, vice president of operations.