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Kingsley Apartments in Los Angeles
CaliforniaDevelopmentFinanceNewsWestern

Colliers Mortgage Negotiates $24.4 Million Construction Financing for Affordable Housing Property in Los Angeles

by Channing Hamilton

LOS ANGELES — The Los Angeles Colliers Mortgage Structured Finance Group has arranged a $24.4 million construction loan for Kingsley Apartments, a 136-unit affordable housing development in the Koreatown neighborhood of Los Angeles. Once completed, Kingsley Apartments will comprise 72,800 square feet. The community will offer studio and one-bedroom floor plans. Units will be available to residents earning up to 80 percent of the area median income. The undisclosed borrower plans to break ground on the project in June 2024. Jonathan Lee, Shahin Yazdi, William Hyatt and Tommy Adelson of …

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CaliforniaFinanceNewsWestern

JLL Capital Markets Arranges $2.5 Million Refinancing for The Madison Apartments in San Diego

by Channing Hamilton

SAN DIEGO — JLL Capital Markets has arranged a $2.5 million refinancing for The Madison Apartments, a 12-unit community in the East County neighborhood of San Diego. JLL placed the three-year, fixed-rate loan with a regional bank. The borrower was Pace Properties. Chris Collins and Emily Pohlman led the JLL Capital Markets Debt Advisory team. The Madison Apartments is situated at 5074-5084 Madison Ave. The community consists of eight two-bedroom apartments and four accessory dwelling units that are studios with loft space. All units feature recently renovated kitchens, bathrooms and …

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Serena Vista Apartments in Fountain Valley, California
CaliforniaFinanceNewsWestern

Northmarq Provides $60 Million Refinancing for Two Properties in Orange County, California

by Channing Hamilton

FOUNTAIN VALLEY AND SANTA ANA, CALIF. — Northmarq has provided $60 million in loans to facilitate the refinancing of two communities in Orange County. Northmarq provided $40 million for the refinancing of Serena Vista Apartments, which was built in Fountain Valley in 1970. The company also provided $20 million for Villa del Sur in Santa Ana, which was constructed in 1969. The two properties total 284 units in one- and two-bedroom floor plans. Alex Kane, Joe Giordani, Brendan Golding and Alvin Cao of Northmarq’s Debt + Equity team in Newport Beach …

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The Clarendon Apartments in Los Angeles
CaliforniaFinanceNewsWestern

Gortikov Capital Arranges $101 Million Refinancing for The Clarendon in Los Angeles

by Channing Hamilton

LOS ANGELES — Santa Monica-based Gortikov Capital has negotiated a $101 million loan for the refinancing of The Clarendon, a 335-unit property in the Woodland Hills neighborhood of Los Angeles. Bryan Gortikov of Gortikov Capital led the capital markets team that secured the two-year, floating-rate senior bridge loan through a U.S.-based debt fund. The borrower was AMCAL Housing, a developer headquartered in Agoura Hills, California. The Clarendon was built in 2020. The community offers studio, one-, two-, three-bedroom floor plans. Apartments feature in-unit washers/dryers, Nest-controlled central cooling and heating, keyless entry …

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Investment SalesNewsUtahWestern

TruAmerica Acquires 288-Unit The Falls at Canyon Rim Near Salt Lake City

by Channing Hamilton

SOUTH OGDEN, UTAH — TruAmerica Multifamily has acquired The Falls at Canyon Rim, a 288-unit community in South Ogden, 25 miles north of Salt Lake City. Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the deal. The Falls at Canyon Rim is situated on a 14.5-acre site. The community offers one-, two- and three-bedroom floor plans. Units average about 1,200 square feet. Amenities include a pool and hot tub, fitness center, BBQ grills, two playgrounds, basketball and tennis courts, a recreation room and dog …

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AVA North Hollywood in Los Angeles
CaliforniaInvestment SalesNewsWestern

Institutional Property Advisors Brokers $62 Million Sale of AVA North Hollywood in Los Angeles

by Channing Hamilton

LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of AVA North Hollywood, a 156-unit community in the NoHo Arts District of Los Angeles. Prime Residential acquired the property from AvalonBay Communities Inc. for $62.1 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer in the deal. AVA North Hollywood was constructed in 2015. Amenities include a pool and spa, clubroom, sky deck, leasing office, movement studio, cybercafé and business center. The property also …

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Flats Arts District in Las Vegas
CaliforniaDevelopmentNewsWestern

CEDARst Cos., Bridge Investment Group Break Ground on $112 Million Flats Arts District in Las Vegas

by Channing Hamilton

LAS VEGAS — A joint venture consisting of CEDARst Cos. and Bridge Investment Group has broken ground on Flats Arts District, a $112 million project located at 123 W. Imperial Ave in Las Vegas. The development will comprise 311 apartments across 2.2 acres. Units will come in studio, one-, two- and three-bedroom layouts. Construction is expected to take about 24 months, with the first units slated to deliver around mid-year 2026. Flats Arts District will offer community amenities such as a fitness center, spa facilities with water circuitry and saunas, …

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330 S. Home Street in Oceanside, California
CaliforniaFinanceNewsWestern

JLL Capital Markets Arranges $5.1 Million Refinancing for 21-Unit Property in Oceanside, California

by Channing Hamilton

OCEANSIDE, CALIF. — JLL Capital Markets has arranged a $5.1 million refinancing for 330 S. Home Street, a 21-unit community in Oceanside, approximately 40 miles north of San Diego. The borrower was a joint venture between Westview Real Estate and Pace Properties. JLL worked on behalf of the borrower to secure the three-year, fixed-rate loan through a regional bank. Chris Collins and Emily Pohlman led the JLL Capital Markets Debt Advisory team. The property consists of 17 apartments that were built in 1970 and renovated in 2023, as well as four newly constructed accessory …

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The Plaza Taos in Chandler, Arizona
ArizonaFinanceInvestment SalesNewsWestern

Institutional Property Advisors Arranges Sale of 164-Unit The Plaza Taos in Chandler, Arizona

by Channing Hamilton

CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale and financing of The Plaza Taos, a 164-unit community in the Phoenix suburb of Chandler. The buyer and seller were not disclosed. The Plaza Taos was built in 2023 on nine acres. Apartments come in one-, two- and three-bedroom floor plans. Amenities include a pool and spa, pet park, indoor dog spa and outdoor kitchen with gas grills.

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Kōz in Lower Queen Anne in Seattle
Affordable HousingDevelopmentFinanceNewsWashingtonWestern

MSquared, Kōz Development Secure $48 Million in Financing for Workforce Housing Project in Seattle 

by Channing Hamilton

SEATTLE — MSquared and Kōz Development have secured $48 million in financing for Kōz in Lower Queen Anne, a 169-unit workforce housing project in downtown Seattle. The community will offer 69 units to households earning up to 80 percent of the area median income (AMI). An additional 17 apartments will be restricted through the Mandatory Housing Affordability Program for 75 years and will be available to households earning between 40 and 60 percent AMI. The remaining units will be rented as attainable workforce housing. The financing includes a $9.7 million …

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