West
Rehab of Historic Affordable Seniors Housing Property in Richmond, Calif.
Richmond, Calif.–The Carquinez, a 36-unit affordable seniors housing apartment building in Richmond, Calif., has experienced a rebirth with the completion of a $9.5 million rehabilitation program.
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.