West
The Siegel Group Snaps Up 18 Multifamily Properties for Renovation in Las Vegas
Las Vegas–The Siegel Group Nevada Inc. continues to capitalize on the opportunities presented by foreclosures with the recent acquisition of 18 Class B and C apartment properties in Las Vegas from a private seller. At $1.8 million, the purchase price for the 78-unit portfolio was deeply discounted and well below replacement cost.
SPECIAL REPORT: Internet Is the New ‘Location’ in Student Housing
Las Vegas–At the National Apartment Association (NAA) Student Housing Conference and Exposition in Las Vegas, a panel of college students–most of whom have been living in off-campus student housing communities for a few years and are on their way to graduate school–expressed how living close to classes is important. However, location pales in comparison to another far-more-crucial criterion: Internet connectivity.
Q&A with the City of Las Vegas’ Tim Whitright
Tim Whitright, development manager with the City of Las Vegas Economic and Urban Development Department, talks about what his department is doing to get Las Vegas back on track.
Q&A with Portland State University’s Dr. Gerard Mildner
Portland State University is introducing a new master’s program in real estate development this fall, making it one of only two universities in the Northwest to offer the degree.
AMCAL Completes Workforce Housing Development in Fresno
Fresno, Calif.–AMCAL Multi-Housing Inc., in partnership with the Foundation for Affordable Housing, has developed the 50-unit family workforce project Summer Hill Place in an area deeply in need of affordable housing.
TODAY’S DEALS: Phoenix Realty Group and MG Properties Acquire $53M Apartment Complex
Phoenix Realty Group and MG Properties have aquired a 402-unit community in Garden Grove, Calif., and JP Morgan Chase sells a 195-unit Sacramento apartment complex for $12.4 million.
$26M L.A. Housing Project for Formerly Homeless and Incarcerated Opens Its Doors
Los Angeles–The dearth of accommodations for the formerly homeless and previously incarcerated is massive. The Dolores McCoy Villa in the Watts community of Los Angeles helps to fill that hole.
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.