West
DEAL OF THE DAY: Hendricks & Partners Oversees $1.7M Sale by Bankruptcy Trustee
Glendale, Ariz.- Hendricks & Partners participated the sale of The Courtyards Apartments, located at 6502 West Olive Avenue in Glendale, Ariz. The 108-unit apartment community was sold for $1,700,000.
DEALS OF THE DAY: Waterton Buys $109.5M in Debt Backed by 4 Assets in North Carolina, California
Chicago– Waterton Residential has acquired $109.5 million of debt secured by four prime multifamily properties located in North Carolina and California.
Wyoming’s Casper College Signs Modular Builder for New $23.5M Student Housing Project
Casper, Wyo.–Casper College in Casper, Wyo., has decided to go modular for its latest student housing project.
DEAL OF THE DAY: Charles Dunn Closes on $6.35M Sale of Small Apt. Property
Westwood, Calif.–Hamid Soroudi and Ramin Gheitanchi of Charles Dunn Company’s West Los Angeles office recently closed a 24-unit luxury apartment for $6.35 million.
DEAL OF THE DAY: Hendricks & Partners Arranges $3.2M REO Sale for Bank
Oakland, Calif.‑Hendricks & Partners arranged what it said was the largest East Bay REO sale in 2010. The two apartment communities, Pinecrest and Garden View Apartments, totaled 96 units and were sold for $3,200,000.
Grubb & Ellis Apartment REIT to Undergo Growth Spurt with $182.4M Acquisition Deal
Santa Ana, Calif.–Grubb & Ellis Apartment REIT Inc. is on track to increase its portfolio by over two-thirds and bring a new management business into the fold in one fell swoop.
California Set to Make Mechanic’s Lien Law Change
Sacramento, Calif.–In a move that might benefit multifamily property owners in California who hire outside contractors to do work on their properties, the state of California will change the way property owners are notified of mechanic’s liens.
MHN Interview with Greg Rutten: Apartment Market Downturn Will Last Another 3-4 Years
He talks to MHN about the trend of distressed deals and how QualityFirst Commercial helps developers through the process of foreclosure.
Google Establishes $86M Low-Income Housing Fund through U.S. Bank Subsidiary
Mountain View, Calif.–Search engine giant Google has found a new vehicle for giving back to the community.