Wednesday, December 25, 2024
Read the Digital Magazines Subscribe to the Newsletter

California

Rise Koreatown in Los Angeles
CaliforniaFinanceNewsWestern

Greystone, Affinius Arrange $172 Million Refinancing for Rise Koreatown in Los Angeles

by Channing Hamilton

LOS ANGELES — Greystone Commercial Capitaland Affinius Capital have brokered a $135 million mortgage loan for the refinance of Rise Koreatown, a high-rise community in Los Angeles’ Koreatown neighborhood. Greystone and Affinius Capital arranged a syndicated funding, which originates institutional structured commercial mortgage loans including subordinate debt for all major property types. The property was built in February 2023 by Rescore Property Group, a private REIT and affiliate of Encore Capital Management. Rise Koreatown comprises 363 units and 47,417 square feet of retail space on a 2.3-acre site.

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingCaliforniaInvestment SalesNewsWestern

BRIDGE Housing Acquires Eaves Daly City Near San Francisco

by Channing Hamilton

DALY CITY, CALIF. — BRIDGE Housing has acquired Eaves Daly City, a 195-unit community in Daly City, 10 miles south of San Francisco. Built in 1972, the property offers 11 two- and three-story buildings across 8.2 acres. Units come in studio, one-bedroom and two-bedroom layouts. Amenities include a pool, spa and fitness center. BRIDGE Housing plans to preserve at least half of the units in perpetuity for residents earning up to 80 percent of the area’s median income. Currently, the units have no income restrictions. BRIDGE Housing also plans to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Staci Court Apartments in Redlands, California
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $53.4 Million Sale of Three Properties in Southern California

by Channing Hamilton

RIALTO, CORONA AND REDLANDS, CALIF. — Marcus & Millichap has arranged the $53.4 million sale of a three-property multifamily portfolio in the Inland Empire region of Southern California. Alexander Garcia and Bill Roblero represented the buyer, Clear Capital LLC. The portfolio includes: Rialto Breeze Apartments, a 98-unit asset in Rialto; Parkview Manor Apartments, a 76-unit property in Corona; and 60-unit Staci Court Apartments in Redlands. Rialto Breeze Apartments was built in 1985 on five acres. The community includes amenities such as a pool and laundry facilities. Parkview Manor Apartments was …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaInvestment SalesNewsPeople NewsWestern

Blake Rogers and Alex Caniglia Return to JLL Capital Markets

by Channing Hamilton

LOS ANGELES — Blake Rogers and Alex Caniglia have re-joined JLL Capital Markets as multifamily investment sales producers. Rogers will serve as a senior managing director in the Los Angeles office and lead the greater Southern California multifamily team. He will also join the National Multifamily Housing Council. Caniglia will join as a Managing Director in the San Diego office. Both Rogers and Caniglia spent the last three years with Walker & Dunlop, focusing on multifamily investment sales throughout Southern California. Prior to those roles, they both worked at JLL …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaNewsPeople NewsWestern

Michael Wesson Rejoins Pearlmark as Managing Director

by Channing Hamilton

IRVINE, CALIF. — Michael Wesson has rejoined Pearlmark as a managing director. In this role, Wesson will focus on debt investment originations. He also opened Pearlmark’s office in Irvine. Wesson joins Pearlmark from CIBC, where he held numerous roles across nine years in New York and Newport Beach. Prior to working at CIBC, Mr. Wesson served as a vice president at Rockwood Real Estate Advisors. He is returning to Pearlmark, where he started as an analyst and rose to vice president prior to joining Rockwood. He received a Bachelor of …

Continue Reading
0 FacebookTwitterLinkedinEmail
Axis @ Davis in Davis, California
CaliforniaDevelopmentFinanceNewsWestern

JLL Arranges Equity for 200-Unit Axis @ Davis in Davis, California

by Channing Hamilton

DAVIS, CALIF. — JLL Capital Markets has arranged joint venture equity for the construction of Axis @ Davis, a 200-unit community in Davis. Axis @ Davis will comprise five residential buildings, as well as 1,500 square feet of ground floor retail space. Units will come in one-, two- and three-bedroom layouts. Amenities will include a top-floor lounge, pool with a spa, pet park, package room, game room and study rooms with a coffee bar and private offices. Axis @ Davis will be located one mile from the University of California, Davis …

Continue Reading
0 FacebookTwitterLinkedinEmail
405 Nobel Ave. in Santa Ana, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $5.5 Million Sale of Three Properties in Orange County, California

by Channing Hamilton

ORANGE, SANTA ANA AND SAN CLEMENTE, CALIF. — CBRE brokered the sales of three fourplexes in Orange County, California, for a total $5.5 million. Dan Blackwell and Amanda Fielder represented the sellers and procured the buyers in all three transactions. CBRE brokered the sale of 609 S. Cypress St. in Orange for $1.8 million. The buyer was a private investor based in Orange County. The seller was an out-of-state private investor. The property was built in 1966 and offers three two-bedroom units and one three-bedroom unit.  Blackwell and Fielder also represented …

Continue Reading
0 FacebookTwitterLinkedinEmail
4737 Kester Ave. in Los Angeles
CaliforniaInvestment SalesNewsWestern

Kidder Mathews Arranges $3.6 Million Sale of Los Angeles Property

by Channing Hamilton

LOS ANGELES — Kidder Matthews brokered the $3.6 million sale of a property at 4737 Kester Ave. in the Los Angeles neighborhood of Sherman Oaks. Michael Monempour and David Saghian represented the seller, a private investor. The property offers eight units across a 8,600-square-foot site. The community was built in 2014. According to Apartments.com, 4737 Kester Ave. rises three stories and is elevator-serviced. Units come in one-, two- and three-bedroom floor plans.

Continue Reading
0 FacebookTwitterLinkedinEmail
Court Court Apartments in Concord, California
Affordable HousingCaliforniaInvestment SalesNewsWestern

Eden Housing Purchases Two Communities in Concord, California for $37.3 Million

by Channing Hamilton

CONCORD, CALIF. — Eden Housing acquired a two-property portfolio in Concord for $37.3 million. Located at 1770 Adelaide St., Sunset Pines is a 69-unit community with amenities such as a pool and a clubhouse. Coral Court Apartments is located at 1491 Detroit Ave. and offers 47 units, as well as a fitness center. Keith Manson, Zachary Greenwood and Mac Watson of CBRE represented the undisclosed seller in a Naturally Occurring Affordable Housing transaction. Eden Housing will convert the portfolio into affordable housing. Eden Housing used $6 million in equity from the City of Concord …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaNewsOperationsPeople NewsWestern

EAH Housing Hires Two New Vice Presidents

by Channing Hamilton

SAN RAFAEL, CALIF. — EAH Housing has added Katherine Fleming as Senior Vice President of Portfolio and Karim Sultan as Vice President of Operations and Corporate Governance to its executive leadership team. Fleming will oversee EAH Housing’s asset management and compliance departments, as well as manage the firm’s portfolio. Prior to joining EAH Housing, she served as an asset management executive at BRIDGE Housing, RBC Capital Markets and Resources for Community Development. Sultan previously served as chief operating officer at East Bay Asian Local Development Corporation, where he was responsible …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2024 France Publications, dba France Media Inc.