California

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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4301 Vermont in Los Angeles
CaliforniaDevelopmentFinanceNewsWestern

SoLa Secures $34.8 Million Construction Loan for Affordable Project in Los Angeles

by Channing Hamilton

LOS ANGELES — SoLa has received a $34.8 million construction loan for 4301 Vermont, an affordable housing development in Los Angeles. Located at 4301 Vermont Ave., the five-story property will offer 188 units. Approximately 80 percent of the units will be designated for low-income residents, while 20 percent will be reserved for moderate-income residents. The project will feature prefabricated modular units supplied by Model Z, a subsidiary of SoLa Impact. Chris Montes of Walker & Dunlop secured the loan on behalf of the client. The lender was ACORE Capital.

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Highridge Apartments in Ranchos Palos Verdes, California
CaliforniaInvestment SalesNewsWestern

Bascom Acquires Community in Ranchos Palos Verdes, California, for $127 Million

by Channing Hamilton

RANCHO PALOS VERDES, CALIF. — The Bascom Group has acquired Highridge Apartments in Ranchos Palos Verdes, 30 miles south of Los Angeles, for $127 million. Built in 1972, the property features 257 apartments, as well as 28 loft-style units. The average unit size is 1,157 square feet. Tenants have access to amenities such as on-site parking, two pools and spas, two fitness centers, a tennis court and a clubhouse. The complex has undergone significant upgrades and renovations over the years, including the addition of in-unit washers and dryers and enhanced …

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CaliforniaInvestment SalesNewsWestern

CBRE Brokers $5.6 Million Sale of Pacifica Apartments in San Rafael, California

by Channing Hamilton

SAN RAFAEL, CALIF. — CBRE has negotiated the $5.6 million sale of Pacifica Apartments, a 20-unit asset in San Rafael, about 18 miles north of San Francisco. Ben Mollahan and Adam Foley of CBRE represented the buyer, an entity doing business as 55 Canal Street LLC, in the deal. The seller was not disclosed. Located at 55 Canal Street, Pacifica Apartments consists of entirely two-bedroom units. Amenities include a courtyard with a children’s play area and garden, community laundry facility, covered parking and storage for each tenant.

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Lincoln Avenue Apartments in Buena Park, California
Affordable HousingCaliforniaDevelopmentNewsWestern

C&C Development Breaks Ground on Affordable Housing Project Near Anaheim, California

by Channing Hamilton

BUENA PARK, CALIF. — C&C Development and Riverside Charitable Corp. have broken ground on Lincoln Avenue Apartments, an affordable housing project in Buena Park, roughly seven miles west of Anaheim, California. The project will comprise 54 apartments across four three-story buildings. The unit mix includes five residences for student families, 11 apartments for veterans and 13 permanent supportive housing units for families and individuals with special needs. Income restrictions were not disclosed. Units will range from approximately 500 to 900 square feet and will be both ADA-accessible and adaptable. The …

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Terracina at Whitney Ranch in Rocklin, California
Affordable HousingCaliforniaDevelopmentNewsWestern

USA Properties Fund Delivers $104 Million Affordable Housing Project in Rocklin, California

by Channing Hamilton

ROCKLIN, CALIF. — USA Properties Fund has completed Terracina at Whitney Ranch, a $104 million affordable housing property in Rocklin, 21 miles northeast of Sacramento, California. Located at 801 University Ave., Terracina at Whitney Ranch offers 288 units for households that earn between 30 and 70 percent of the median income for Placer County, California. Apartments come in one-, two- and three-bedroom floor plans. Rents for one-bedroom units range from approximately $592 to $1,374 per month, depending on household income, while three-bedroom apartments range from $781 to $2,007 per month. Residents …

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Ventana Residences in San Francisco
Affordable HousingCaliforniaFinanceNewsWestern

Partnership Receives $108.3 Million Loan for Recapitalization of Mixed-Income Asset in San Francisco

by Channing Hamilton

SAN FRANCISCO — Presidio Bay Ventures and American Realty Advisors have secured a $108.3 million loan for the recapitalization of Ventana Residences, a 193-unit community in San Francisco. Ventana Residences was built in 2023. According to the property website, the community offers studio, one-, two- and three-bedroom floor plans. Residents have access to amenities such as two roof deck lounges, a coworking hub with work-from-home spaces and conference rooms, indoor-outdoor fitness center, children’s playground, pet park, electric vehicle chargers, Wi-Fi connectivity and a package room. Gantry brokered the recapitalization, which …

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Rancho Vista Apartments in Ontario, California
CaliforniaInvestment SalesNewsWestern

Convenient Holdings Buys Property in Ontario, California, for $46.3 Million

by Channing Hamilton

ONTARIO, CALIF. — Convenient Holdings has acquired Rancho Vista Apartments, a 125-unit community in Ontario, roughly 40 miles east of Los Angeles. Clear Capital sold the asset for $46.3 million. Built in 1984, Rancho Vista Apartments features two- and three-bedroom floor plans. The average unit size is 1,022 square feet. Amenities include a pool, cardio and weight training center, picnic area with barbeque grills, gated access and on-site maintenance. Alexander Garcia, Kyle Pinkalla, Chris Zorbas, Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus …

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4117 E Concours St. in Ontario, California
CaliforniaDevelopmentFinanceNewsWestern

Adept Urban Development Receives $107 Million Construction Financing for Mixed-Use Development in Ontario, California

by Channing Hamilton

ONTARIO, CALIF. — Adept Urban Development has received $107 million in financing for the construction of a 384-unit community in Ontario, about 40 miles east of Los Angeles. The project is located at 4117 E Concours St., adjacent to the Toyota Arena, and will also feature 26,000 square feet of retail space. A development timeline was not disclosed. Stefen Chraghchian of Marcus & Millichap Capital Corp. arranged the financing through Affinius Capital and Bank OZK.

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