West
Southern California Land Values Deep In Recovery Mode
Irvine, Calif.–In Southern California, the bottom of the land market came and went a long time ago, according to a report by The Hoffman Company.
DEAL OF THE DAY: NorthMarq Arranges $25.388M, Interest-Only, Fannie Mae Loan through AmeriSphere
NorthMarq Capital’s San Francisco regional office has arranged a $25.388 million first mortgage for Jefferson at Carmel Mountain Ranch.
Affordable Housing Project in Southern California’s Orange County Garners Council’s Approval
Irvine, Calif.–Jamboree Housing Corp.’s development of a 70-unit affordable housing community in Buena Park, Calif., took a big step forward.
Ground Breaks on $34.9M Homeless Veterans Housing Project
Los Angeles–For Los Angeles County’s homeless veterans, a much underserved population, a new option will soon sprout in the city of Inglewood.
DEAL OF THE DAY: Continental Realty Purchases Phoenix Apartments for $45.5M in Cash
Phoenix–Continental Realty Advisors (CRA) has acquired The Canyons Luxury Apartment Community.
DEAL OF THE DAY: CB Richard Ellis Brokers First Downtown San Diego Apartment Sale Since 2007
Security Properties Inc. paid $22 million for Entrada, a 172-unit apartment property located at 453 13th Street in downtown San Diego. The multifamily transaction is the first 100-unit apartment sale in downtown San Diego since March 2007, according to CB Richard Ellis.
DEAL OF THE DAY: Arbor Closes $1,500,000 Fannie Mae DUS Small Loan
Arbor Commercial Funding LLC recently funded a $1,500,000 loan under the Fannie Mae DUS Small Loan product line for the 48-unit complex known as Villa Serena Apartments in Pittsburg, Calif.
John Kerin is New President & CEO of Marcus & Millichap
Encino, Calif.–Previously, Kerin was a senior vice president and managing director of the firm, overseeing 18 offices nationwide.
RADCO Takeover of $143M San Diego Condo Property Proves Successful One Year Later
San Diego–Atlanta-based developer and distressed real estate specialist The RADCO Cos. completed a one-year turnaround of the $143 million condo project, The Mark.
San Fran Board of Supervisors Helps Mixed-Use Project Clear Last Hurdle
San Francisco–Plans for 900 Folsom, a 450-unit mixed-use residential development..