West
DEAL OF THE DAY: Occupancy Offset by Low Leverage in Arbor’s $1.5M Fannie Mae Small Loan
Pittsburg, Calif – Arbor Commercial Funding LLC recently funded a $1.5 million loan under the Fannie Mae DUS Small Loan product line.
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.