News
Construction Launched for 221 Palm Beach Gardens Apartments
The mix of amenities in apartment communities changes with the newest trend. The new must-have amenity is a pickleball court. Vista Residential Partners recently broke ground on a four-story apartment complex in Palm Beach Gardens that will have two courts. Besides the pickleball courts, amenities in Gardens Vista will include a pool, a fitness center,...
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WNC Closes Equity Fund Representing Seven Apartment Properties
Irvine-based affordable housing investor WNC & Associates has closed WNC Institutional Tax Credit Fund X California Series 22, L.P. (CA22), which includes seven multifamily properties across California. CA22, a $119-million equity fund, closed in April. The fund’s objective is to invest in partnerships or limited liability companies which own apartment complexes built or rehabilitated in California...
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Berkadia Brokers $23M Delaware Multifamily Property Sale
Berkadia has completed the sale of The Reserve at Sawmill, a 149-unit, garden-style multifamily property in Milford, Delaware. Senior Managing Director Nat Gambuzza and Senior Director Trevor Fiebel of Berkadia Morristown, along with Senior Managing Directors Zac Pierce and Matthew Stefanski, and Associate Director Maura Spellman of Berkadia Philadelphia led the transaction on behalf of...
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PCCP Provides $110M Refi on Downtown San Diego Multifamily
PCCP has provided a $110-million senior loan to refinance Stanza Little Italy, a Class A, 270-unit, 22-story multifamily community located at 310 A St. in Downtown San Diego. Terms of the loan were not disclosed. “We believe Stanza Little Italy, a high-quality asset, will perform well as construction activity in Downtown San Diego dissipates,” said Mike...
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Montgomery Partners Enters PNW Market with Apartment Acquisition
Montgomery Partners has completed the $9 million acquisition of Westwood Green, an eight-building, two-story garden-style apartment complex in Tigard, Oregon. The property comprises 53 units in one of the most desirable areas in the Portland Metro. This acquisition marks the firm’s first purchase in the region, signaling a strategic expansion into one of the West...
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Ray Begins Leasing at Harlem Apartments Atop National Black Theatre
Ray has begun leasing at Ray Harlem, designed by renowned architects Frida Escobedo Studio in partnership with Handel Architects, a 21-story mixed-use building at 2035 Fifth Ave., a/k/a National Black Theatre Way. Located at the historic intersection of 125th Street and Fifth Avenue, Ray Harlem, developed by Ray and LMXD, offers 222 mixed-income apartments along with amenities including a communal kitchen and...
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Statewide Rent Control Legislation Pulled from Consideration
Two weeks after enlisting industry support in opposition to AB 1157, the Affordable Rent Act introduced by Assemblymember Ash Kalra (D-San José), the California Apartment Association claimed victory. The bill was pulled from consideration and removed from the Assembly Judiciary Committee agenda after advancing out of the Assembly Housing Committee, likely stalling its progress until...
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Bridge Investment Picks Up Glendale Rental Community
Monte Vista, a 208-unit multifamily property in Glendale, has sold for $25.5 million. According to Yardi Matrix information, Bridge Investment Group acquired the asset and took out a 3-year loan from Truist Bank. The community is now rebranded as Butler Ridge Apartments. Institutional Property Advisors Cliff David and Steve Gebing, along with Marcus & Millichap...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout