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Park Vista Apartment Homes
Affordable HousingCaliforniaInvestment SalesNewsWestern

BLDG Partners Secures $82 Million in Acquisition Financing for Property in Anaheim, California

by Channing Hamilton

ANAHEIM, CALIF. — BLDG Partners has secured a $82 million loan for the acquisition of Park Vista Apartment Homes, a 392-unit affordable housing community in Anaheim. Martin Fayer of NewPoint Real Estate Capital arranged the fixed-rate Fannie Mae loan, which has a seven-year term with five years interest only.  The garden-style community was originally constructed in 1959, then renovated in 2001. The property consists of 93 two-story buildings spread across approximately 20 acres. Park Vista Apartment Homes is affordable to households earning at or below 60 percent of the area …

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Pullman Modern Urban Apartments
CaliforniaFinanceNewsWestern

Phoenix Development Co. Receives $27.8 Million in Refinancing for Property in Santa Rosa, California

by Channing Hamilton

SANTA ROSA, CALIF. — Phoenix Development Co. has received $27.8 million in refinancing for Pullman Modern Urban Apartments in Santa Rosa, about 55 miles north of San Francisco. The community consists of 114 apartments across three residential buildings located at 725 Wilson St., 755 Wilson St. and 85 8th St. The project is currently in lease-up with stabilization estimated toward the end of 2025. Gary Mozer of IPA Capital Markets, a division of Marcus & Millichap, arranged the 36-month, floating-rate nonrecourse loan, which features interest-only payments for the full term, on …

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Phase II of Midway Village
CaliforniaFinanceNewsWestern

Wells Fargo Provides $162.9 Million in Financing for Affordable Housing Project in Daly City, California

by Channing Hamilton

DALY CITY, CALIF. — Wells Fargo has provided a total of $162.9 million in financing for Phase II of Midway Village, an affordable housing project in Daly City, roughly 8 miles south of San Francisco. MidPen Housing Corp. is the borrower and developer. Phase II of Midway Village will consist of 113 units of affordable housing within one mid-rise building. Wells Fargo also provided financing for the first phase of the project, which features 147 units. Phase I of the community opened in fall 2023. The community will be rent …

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Kasey Archey
CaliforniaNewsOperationsPeople NewsWestern

EAH Housing Appoints Kasey Archey as Senior Vice President

by Channing Hamilton

SAN RAFAEL, CALIF. — EAH Housing has appointed Kasey Archey to the role of senior vice president of real estate management. In this position, Archey will oversee EAH Housing’s property management department and ensure the viability of the organization’s affordable housing assets in California and Hawaii. Before joining EAH Housing, Archey served as senior vice president of property management for MidPen Housing. Additionally, she served as vice president of property operations at Eden Housing Management. Across her previous roles, she was responsible financial reporting, government and community engagement, capital improvement …

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Chaparral Apartments
CaliforniaInvestment SalesNewsWestern

Northmarq Brokers $71 Million Sale of 296-Unit Property in Palmdale, California

by Channing Hamilton

PALMDALE, CALIF. — Northmarq has arranged the sale of Chaparral Apartments, a 296-unit property in Palmdale, 60 miles north of Los Angeles. A Florida-based real estate investment firm sold the asset to a Los Angeles-based real estate investment firm for $71 million. Chaparral Apartments includes 16 two-story garden-style buildings, totaling 213,664 square feet, on an 18.2-acre site. The unit mix includes 72 studios, 164 one-bedroom units and 60 two-bedroom units. Apartments feature fireplaces, balconies or patios, walk-in closets and energy-efficient appliances. Residents have access to amenities such as two pools, three …

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Solana at Duarte Station
CaliforniaDevelopmentLeasing & MarketingNewsWestern

MBK Rental Living Opens 292-Unit Community in Duarte, California

by Channing Hamilton

DUARTE, CALIF. — MBK Rental Living has opened Solana at Duarte Station, a five-story asset located at 1740 Fasana Road in Duarte, 20 miles northeast of Los Angeles. The community offers 292 units in studio, one-, two-, three- and four-bedroom floor plans. Apartments range from 534 square feet to 2,802 square feet. Select units feature private patios or balconies and walk-in closets. Tenants have access to shared amenities such as a clubhouse, fitness center and yoga studio, coworking spaces, a pool, game lounge, cabana club and dog lounge, spa and park. …

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CaliforniaLeasing & MarketingNewsOperationsWestern

29th Street Living Appointed Property Manager of 188-Unit Community in Las Vegas

by Channing Hamilton

LAS VEGAS — 29th Street Living, the property management division of Chicago-based 29th Street Capital, has taken over management services for The Willows at Town Center, a 188-unit community in Las Vegas. Located at 9145 Echelon Point Drive, the property offers one-, two- and three-bedroom apartments. According to Apartments.com, monthly rates start at $1,479 for a one-bedroom unit. Community amenities include a pool, business center, dog park, fitness center with yoga studio, package lockers and controlled access.

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Genesee-Park
CaliforniaInvestment SalesNewsWestern

American Assets Trust Buys ‘Untouched 1980s’ San Diego Property

by Lynn Peisner

SAN DIEGO — American Assets Trust has acquired Genesee Park in San Diego for an undisclosed price. The seller, Hess Genesee Park LLC, was represented by CBRE’s Rachel Parsons, Derrek Ostrzyzek, Mike Murphy, Chris Tresp, and Kenji Thomas who also arranged the sale. The 192-unit Genesee Park was built in 1985 and has had one owner. According to Parsons, the community is an “essentially untouched 1980s asset that has been well-maintained.” The community consists of six buildings, each configured with three stories of residential over one level of gated parking. …

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Le Noble Apartments in Los Angeles
CaliforniaFinanceNewsWestern

MMCC Negotiates $16.8 Million for Refinancing of Le Noble Apartments in Los Angeles

by Channing Hamilton

LOS ANGELES — Marcus & Millichap Capital Corp. (MMCC) has arranged $16.8 million for the refinancing of Le Noble Apartments, a 46-unit property located at 5768 W. 3rd St. in Los Angeles. The community features elevators, a dog park, courtyard and fitness center that is currently under construction. Units include balconies, as well as washers and dryers. Dan Litman of MMCC secured the financing with a national bank on behalf of a local commercial brokerage firm that specializes in sales, leasing and management of multifamily and commercial properties located in Los …

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CaliforniaDevelopmentFinanceNewsWestern

IPA Arranges $60.9 Million in Financing for 28.9-Acre Redevelopment Project in Huntington Beach, California

by Channing Hamilton

HUNTINGTON BEACH, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $60.9 million in financing for a 28.9-acre redevelopment project in Huntington Beach. Gary Mozer of IPA secured the 18-month, nonrecourse loan on behalf of an undisclosed California-based investment and development firm. The borrower plans to develop a residential and hospitality property, which was approved by the Huntington Beach City Council, on the site. The property will feature a 50-unit affordable housing community, with 25 units to be rented to hotel workers employed onsite and nearby. The …

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