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A property at 1071 & 1075 Junipero Ave. in Long Beach, California

CBRE Arranges $7.1 Million Sale of Two Communities in Long Beach, California

by Channing Hamilton October 10, 2023

LONG BEACH, CALIF. — CBRE has arranged the sale of two communities totaling 23 units for in Long Beach. The assets sold for a total $7.1 million to two separate buyers. In the first deal, CBRE’s Dan Blackwell and Trey Mitchell represented the seller in the disposition of a seven-unit property at 122 E. 55th Street in North Long Beach. A private investor based in Long Beach acquired the property from an Orange County-based repeat client of CBRE for $2.3 million. The property was built in 1962 on0.2 acres. The two-story, 5,755-square-foot building …

October 10, 2023

Ironwood Homes at River Run in Avondale, Arizona

Arizona Build-to-Rent Development News Western

Mark Taylor Opens Ironwood Homes at River Run BTR Project in Avondale, Arizona

by Channing Hamilton October 10, 2023

AVONDALE, ARIZ. — Mark-Taylor Residential has opened Ironwood Homes at River Run, a 103-unit build-to-rent development in the Phoenix suburb of Avondale. Developed by Sunstone Two Tree, Ironwood Homes at River Run offers units in three- and four-bedroom floor plans. Units feature private side yards, personal two-car garages and smart technology packages. Amenities include a pool spa, fitness center, outdoor kitchen, gated entry and a playground.

October 10, 2023

Development News Oregon Western

Home Forward Opens First Phase of Dekum Court Apartments in Portland, Oregon

by Channing Hamilton October 9, 2023

PORTLAND, ORE. — Home Forward has opened the first phase of Dekum Court Apartments, a redevelopment project in Portland. Dekum Court originally comprised 40 units and was built in 1972. Home Forward will rebuild the 40 apartments, as well as add 147 new units. At full build-out, Dekum Court will offer 187 units. The first phase of the redevelopment is now complete, and the second phase will be completed in summer of 2025.

October 9, 2023

Investment Sales News Washington Western

Institutional Property Advisors Brokers $80 Million Sale of Waters Edge in Kent, Washington

by Channing Hamilton October 9, 2023

KENT, WASH. — Institutional Property Advisors (IPA) has brokered the sale of Waters Edge, a 304-unit asset within The Lakes master-planned community in Kent. FPA Multifamily acquired the property from Jackson Square Properties for $80 million. IPA’s Giovanni Napoli, Philip Assouad, Nicholas Ruggiero, Ryan Harmon and Anthony Palladino represented the seller and procured the buyer. Waters Edge was built in 1987. The low-density community offers one-, two- and three-bedroom apartments with an average size of 879 square feet. Amenities include a private lake with a walking trail, clubhouse, pool, lounge …

October 9, 2023

Affordable Housing Development Finance Investment Sales News Washington Western

KeyBank Provides $14.6 Million to Construct Affordable Project in Tacoma, Washington

by Channing Hamilton October 5, 2023

TACOMA, WASH. — KeyBank Community Development Lending and Investment (CDLI) has provided a $14.6 million construction loan for New Life Homes, a 60-unit low-income housing project in Tacoma’s Hilltop neighborhood. National Equity Fund (NEF) provided LIHTC equity. Caleb Stephens of KeyBank CDLI structured the loan. Shiloh Baptist Church, with Beacon Development Group as consultant, is developing New Life Homes. With the assistance of Tacoma Housing Authority, the church has leveraged several public funding sources along with tax credits and traditional financing to construct New Life Homes. New Life Homes will be …

October 5, 2023

Content Partner Features Industry Content Midwest Northeast Operations Southeast Student Housing Technology Texas Western

Tech-Driven Renters Insurance Model Ramps Up Efficiency, Reduces Risk

by Sarah Daniels October 5, 2023

The failure of residents to meet coverage requirements or letting policies lapse can cost owners and operators significantly, according to TheGuarantors, a fintech company serving the multifamily industry. For some operators, this can mean up to hundreds of thousands of dollars in liability costs. It can be months before operators become aware that residents have changed or canceled their policy. Property technology (proptech) innovations have helped digitize every facet of the leasing, management, maintenance, rent collection and revenue management processes. However, most proptech improvements have traditionally been renter focused, rather …

October 5, 2023

California Investment Sales News Western

CBRE Brokers $5.5 Million Sale of Two Properties in Anaheim, California

by Channing Hamilton October 4, 2023

ANAHEIM, CALIF. — CBRE has arranged the sale of two communities in Anaheim. The properties total 20 units and were sold to two separate buyers for over $5.5 million. A property at 1121-1125 West Fay Lane traded hands for $2.9 million. CBRE’s Dan Blackwell, Andrew Boukather and Amanda Fielder represented the seller, a private investor based in Orange County. Blackwell and CBRE’s Sean Farag also represented the buyer, a repeat client also based in Orange County. The asset was built in 1964 and comprises 12 units across two buildings. Units …

October 4, 2023

California Investment Sales News Western

Walker & Dunlop Arranges $174 Million Sale of Waterleaf in San Diego Suburb

by Channing Hamilton October 4, 2023

VISTA, CALIF. — Walker & Dunlop (W&D) has brokered the $174 million sale of Waterleaf, a 456-unit value-add community in the northern San Diego suburb of Vista. MIG Real Estate acquired the asset from MG Properties Group. According to W&D, this is the second-largest multifamily deal in San Diego in 2023. A W&D investment sales team led by Hunter Combs represented both the seller and the buyer in the transaction. Waterleaf is located minutes from downtown Vista and 30 minutes to downtown San Diego. The property is also in proximity …

October 4, 2023

Edward Ring, Founder and CEO, New Standard Equities

California Industry Voices Leasing & Marketing Operations Western

Six Questions About California Eviction Moratoriums With New Standard Equities Founder and CEO Edward Ring

by Channing Hamilton October 4, 2023

Multifamily & Affordable Housing Business: How did each jurisdiction define the moratoriums in California? Did it vary? Ring: The eviction moratoriums began in California during the outbreak period of COVID-19. The immediate response from state and local governments was to prevent landlords from evicting non-paying residents via an ‘emergency order’ declaration. Each jurisdiction settled on their own methodology and created a near-impossible set of rules for landlords who operate in multiple cities. Often, a county had a set of rules, the city had a set of rules, and the state …

October 4, 2023

Arizona Build-to-Rent Development Leasing & Marketing News Western

Mark-Taylor Residential Opens Single-Family Rental Community in Mesa, Arizona

by Channing Hamilton October 3, 2023

MESA, ARIZ. — Mark-Taylor Residential has opened Peralta Vista, an eco-conscious single-family rental project in Mesa. Located at 526 N Ellsworth Rd., Peralta Vista features one- and two-bedroom units homes built with sustainable materials to reduce energy costs and usage by more than 40 percent. According to the property website, amenities include a pool, lounge area, fitness center, game lawn, clubhouse, EV chargers and smart home technology.

October 3, 2023

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