California

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 …

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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 …

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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 …

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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 …

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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 …

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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.

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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 …

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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 …

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CaliforniaCompany NewsNewsPeople NewsWestern

BH Properties Selects William Stoll to Lead $1 Billion Affordable Housing Investment Initiative

by Channing Hamilton

LOS ANGELES — BH Properties has begun an investment initiation into affordable housing with the goal of building a $1 billion portfolio of assets. The new platform will focus on low-income housing tax credit, Section 8 and age-restricted housing throughout the United States. The initiative will be led by William Stoll, who BH Properties hired as a managing director. Prior to joining BH Properties, Stoll worked at Steadfast Companies for 14 years. He joined the firm in 2009 as the manager of a Southern California portfolio of 10 LIHTC properties …

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13931-13951 Illinois St. in Westminster, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $6 Million Sale of Community in Westminster, California

by Channing Hamilton

WESTMINSTER, CALIF. — CBRE brokered the sale of a 17-unit garden-style community in Westminster for $6 million. Dan Blackwell and Andrew Boukather represented the seller and the Orange County, California-based buyers in the transaction. The property is located at 13931-13951 Illinois St. and was constructed in 1963. All units feature two-bedroom layouts. Amenities include private patios, open space parking and an on-site laundry facility. Eighty percent of units were recently renovated with new windows, sliding doors, smoothed ceilings, laundry hookups in select units, new lights, fresh interior paint, ceramic tile flooring and refinished …

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