Western

Barings Real Estate Secures $115 Million Loan for The Ventana Luxury Apartments in Los Angeles

by Channing Hamilton October 27, 2023

LOS ANGELES — Barings Real Estate has secured $115 million in financing for The Ventana Luxury Apartments, a 405-unit complex within the master-planned community of Playa Vista in Los Angeles. Chris Drew, Annie Rose, Brandon Smith and Gyasi Edmondson of JLL Capital Markets Debt Advisory secured the cash-neutral, five-year loan on behalf of the borrower. The financing features full-term interest-only payments. The use of the funds was not disclosed. The Ventana Luxury Apartments was built in two phases in 2007. The community offers studio, one-, two- and three-bedroom units with an …

October 27, 2023

California Finance News Western

Greystone Provides $15 Million in Financing for University Village in Hayward, California

by Channing Hamilton October 26, 2023

HAYWARD, CALIF. — Greystone has provided a $15 million Fannie Mae Delegated Underwriting & Servicing loan to refinance University Village, a 68-unit in Hayward. The garden-style community was constructed in 1964. University Village offers one- and two-bedroom units and on-site parking, laundry facilities and a fitness center. Tim Thompson originated the financing on behalf of WSB University Village LLC. The loan features a 10-year term with five years of interest-only payments. In addition to refinancing, the loan will enable the borrower to continue with ongoing property maintenance.

October 26, 2023

Development Leasing & Marketing News Utah Western

Crescent Communities Opens NOVEL Daybreak in Salt Lake City Suburb

by Channing Hamilton October 26, 2023

SOUTH JORDAN, UTAH — Crescent Communities has opened NOVEL Daybreak, a 400-unit community in the Salt Lake City suburb of South Jordan. MAA provided construction financing for the project’s development, while Kier Construction acted as the general contractor. Craine Architecture and CID Design Group designed the complex. NOVEL Daybreak is located 10678 S. Lake Run Road in South Jordan’s Daybreak community. The property features a mix of studio, one- and two-bedroom apartments with quartz countertops, stainless steel sinks and kitchen islands with pendant lighting. Amenities include a coffee lounge, fitness …

October 26, 2023

California Finance News Western

PGIM Real Estate Arranges $259 Million Credit Facility for Six West Coast Properties

by Channing Hamilton October 25, 2023

SAN FRANCISCO — PGIM Real Estate, the San Francisco-based real estate investment and financing business of PGIM, has arranged a $259 million Fannie Mae credit facility addition for six communities on the West Coast. The borrower is The Sobrato Organization. Natalia Todorov, Lauren Kiesel, Elizabeth Velazquez and A.J. Hamer of PGIM handled the transaction. The six properties total 1,141 units.

October 25, 2023

Finance News Washington Western

Ethos Commercial Advisors Arranges $80 Million for Arvon Apartments in Vancouver, Washington

by Channing Hamilton October 25, 2023

VANCOUVER, WASH — Ethos Commercial Advisors has structured $48 million in construction financing and $32 million in joint venture equity for Arvon Apartments, a 274-unit project in Vancouver. The garden-style community offers one-, two- and three-bedroom units with an average size of nearly 1,000 square feet. Danny Natsch and Matt Illias arranged the partial recourse construction loan through a national bank. The loan features a 42-month term and a sub-300 spread over SOFR with a 25 percent recourse obligation to the guarantors. Natsch and Illias also sourced the joint venture equity through …

October 25, 2023

Sangre De Cristo Apartments in Santa Fe, New Mexico

Affordable Housing Development Investment Sales New Mexico News Western

CPP Acquires Two Affordable Communities in Santa Fe, New Mexico, for $41.8 Million

by Channing Hamilton October 25, 2023

SANTA FE, N.M. — Community Preservation Partners (CPP) has acquired two affordable housing developments in Santa Fe, Sangre De Cristo Apartments and Santa Fe Apartments, for $41.8 million. The developer also plans to invest a further $51.9 million to renovate both properties. Once renovated, the two communities will be restricted to households earning below 60 percent of the area median income and will continue to benefit from project-based rental assistance. Santa Fe Apartments is located at 255 Camino Alire. The property features 64 units and was built in 1968. Sangre …

October 25, 2023

Arizona Development Leasing & Marketing News Western

MEB Management Services Begins Leasing The Aster at Mountain Vista Near Phoenix

by Channing Hamilton October 24, 2023

MESA, ARIZ. — MEB Management Services has begun leasing The Aster at Mountain Vista in Mesa, just east of Phoenix. The Aster at Mountain Vista comprises seven residential buildings on 8.5 acres. The community features a mix of 80 one-, 66 two- and 10 three-bedroom units for a total of 156 apartments. Each unit comes with smart thermostats, internet connectivity and stainless steel appliances. Amenities include a pool and spa, green spaces, covered parking, a dog park and community clubhouse.

October 24, 2023

525 Catalina in Laguna Beach, California

California Investment Sales News Western

CBRE Negotiates $3.1 Million Sale of 8-Unit Community in Laguna Beach, California

by Channing Hamilton October 24, 2023

LAGUNA BEACH, CALIF. — CBRE has arranged the sale of a property at 525 Catalina in Laguna Beach. The eight-unit asset traded hands for $3.1 million. CBRE’s Dan Blackwell and Mike O’Neill represented the seller, a private investor headquartered in Orange County. The buyer was also a private Orange County-based investor. Built in 1957, the property rises two stories on a 0.14-acre site. All apartments come in studio floor plans. Amenities include a community deck, gated entry, storage lockers and five carport spaces.

October 24, 2023

California Development News Western

Cityview Completes 123-Unit The Parker in West Los Angeles

by Channing Hamilton October 20, 2023

LOS ANGELES — Cityview has completed The Parker in the Pico-Robertson community of West Los Angeles. The project comprises 123 units and 4,000 square feet of retail space. Apartments come in studio, one- and two-bedroom floor plans. Of the total unit count, 13 are affordable, though income restrictions for these units were not disclosed. Amenities include a rooftop pool, open-air cinema, fitness center, co-working spaces and a dog park. The project team included WPIC Construction, AC Martin, Nadia Geller Design and Labib Funk + Associates.

October 20, 2023

Seventh and James Apartments in Seattle, Washington

Investment Sales News Washington Western

Kidder Mathews Brokers $26.9 Million Sale of Seventh & James Apartments in Seattle

by Channing Hamilton October 20, 2023

SEATTLE — Kidder Mathews has brokered the sale of Seventh and James Apartments in Seattle’s First Hill neighborhood. Dylan Simon, Matt Laird and JD Fuller of Kidder Mathews’ Simon Anderson team represented the seller and sourced the buyer in the transaction. An institutional owner sold the asset to an undisclosed buyer for $26.9 million. Seventh and James Apartments features 96 units. The five-story, podium-style building was built in 1992 at 600 7th Ave.

October 20, 2023

Newer Posts

Older Posts