Saturday, March 29, 2025
Read the Digital Magazines Subscribe to the Newsletter

Western

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. …

Continue Reading
0 FacebookTwitterLinkedinEmail
3755 McKinney St. in Denton, Texas
FeaturesFinanceFrom the MagazinesInvestment SalesMidwestTexasWestern

Why 1031 Investors Are Diversifying Their Strategies

by Channing Hamilton

Securing replacement properties that make financial sense when executing conventional 1031 exchanges has required some investors to expand their horizons, whether by geography or asset selection.  Apartment owner and asset manager RailField Partners, for example, last summer entered the Midwest market for the first time when it purchased the Hangar at Emerson, a 218-unit multifamily asset in suburban Indianapolis.  The Bethesda, Maryland-based company, which was founded by former Fannie Mae executives in 2013, up to that point had largely focused on a dozen markets in the Mid-Atlantic, Southeast and Texas, …

Continue Reading
0 FacebookTwitterLinkedinEmail
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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
West 8th in Golden, Colorado
ColoradoInvestment SalesNewsWestern

Confluence Cos. Purchases Asset in Golden, Colorado for $47.5 Million

by Channing Hamilton

GOLDEN, COLO. — Confluence Cos. has purchased West 8th, a 99-unit community located at 1410 8th St. in Golden, roughly 15 miles west of Denver. MIG Real Estate sold the property for $47.5 million. David Potarf, Dan Woodward, Matt Barnett and Jake Young of Walker & Dunlop Denver Investment Sales handled the transaction for the seller and buyer.

Continue Reading
0 FacebookTwitterLinkedinEmail
Venture on Colter in Phoenix
ArizonaInvestment SalesNewsWestern

Neighborhood Ventures Acquires 123-Unit Property in Phoenix

by Channing Hamilton

PHOENIX — Neighborhood Ventures (NV), a real estate crowdfunding company based in Phoenix, has purchased Venture on Colter, a 123-unit property in Phoenix. NV purchased the asset directly from an undisclosed lender for $13 million, a 20 percent discount from the community’s value in 2022. The company has raised $4.5 million from 95 investors for the property. NV estimates that, after implementing new property management and leasing strategies, Venture on Colter will be fully occupied within the next six months.

Continue Reading
0 FacebookTwitterLinkedinEmail
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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaDevelopmentNewsWestern

Thompson Thrift Opens 308-Unit Community Near Phoenix

by Channing Hamilton

SAN TAN VALLEY, ARIZ. — Thompson Thrift has opened Stella, a 308-unit community located roughly 48 miles southeast of downtown Phoenix in San Tan Valley. The property will consist of 12 two- and three-story buildings on a 20-acre site. Units will come in one-, two- and three-bedroom floor plans. Amenities include a pool, outdoor pavilion, pickleball courts, two dog parks, gardens and Wi-Fi connectivity. The first move-ins began in winter 2024. The project is slated for full completion by the end of this summer. 

Continue Reading
0 FacebookTwitterLinkedinEmail
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.

Continue Reading
0 FacebookTwitterLinkedinEmail
Sunrise Lane in Everett, Washington
Investment SalesNewsWashingtonWestern

Weidner Apartment Homes Sells 131-Unit Property in Everett, Washington

by Channing Hamilton

EVERETT, WASH. — Weidner Apartment Homes has sold Sunrise Lane, a 131-unit property in Everett, roughly 29 miles north of Seattle, for $35 million. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the undisclosed buyer.  Built in 2000 on six acres, Sunrise Lane is a gated community that offers a mix of one-, two- and three-bedroom apartments. The average unit size is 1,020 square feet. Shared amenities include a clubhouse, pool, spa and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.