California extends eviction moratorium
California Governor Newsom has signed into law Senate Bill 91 (SB-91), which extends the state’s eviction moratorium to June 30, 2021. The bill also creates the State Rental Assistance Program which will use funds...
California voters reject rent control – again
Prop 21, the rent control measure put before California’s voters in the recent election, went down to defeat. While results are still preliminary at this point, nearly 60 percent of the ballots tabulated to...
Upzoning coming to California
California Governor Newsom recently signed a series of bills seeking to address the shortage of housing in the state. The bills. SB-8, SB-9 and SB-10 give local governments additional authority to upzone for higher...
MAG continues its rapid growth with industry veteran Marcelino “Tito” Estrada as regional vice...
Multifamily Ancillary Group (MAG), the industry leader in revenue-generating ancillary services for multifamily owners and managers, has continued its momentum announcing the addition of Marcelino “Tito” Estrada as its Regional Vice President.
Estrada brings more...
80-unit apartment portfolio sells for $20,000,000 in Vancouver, Washington
Kidder Mathews is pleased to announce the sale of an 80-unit apartment portfolio in Vancouver, Washington for $20,000,000. The portfolio comprises three buildings: Broadway (36 units), Hamilton (30 units), and Eliza (14 units). The...
California seeks to bind landlords – Update
A new law working its way through the California legislature would make it more difficult for owners of rent-controlled properties in the state to remove those properties from the rental market.
***Update***
The bill's sponsor, Alex...
The Hoffman Company brokers 18-acre parcel in Riverside, California, for mixed-use development
The Hoffman Company, recently brokered the sale of a 482-unit apartment project on approximately 18 acres, part of a larger 35-acre mixed-use development called The Exchange being developed by the seller, AFG Development LLC....
Greystar appoints new senior director of development for San Francisco and the East Bay
Greystar, a global leader in the development, investment, and management of multifamily housing, has recently expanded its Northern California team with the addition of Senior Director of Development, Mike McCone.
As a new Senior Director...
CEDARst and Quartz Lake Joint Venture Announces $145M San Diego The Hillcrest Multifamily Development,...
A joint venture partnership between Cedar Street Companies, a vertically integrated real estate development platform, and Quartz Lake Capital, a private equity real estate investment manager, completed the acquisition of a land assemblage totaling...
Fore Property strengthens its Southern California presence with opening of two new multifamily communities
Fore Property (Fore), one of the country’s top 20 largest multifamily developers, today announced the formal opening of two new multifamily communities: Arte in Rancho Cucamonga and Las Positas in Camarillo. Developed and constructed...
Sack Properties acquires Chateau Woods apartments in Woodinville, Washington
Sack Properties (Sack), a 62-year-old, San Francisco-based real estate investment and management firm with a $750 million portfolio of approximately 2,500 multifamily units throughout the Western United States, announced the acquisition of Chateau Woods,...
Industry veteran Edgar Morales joins Rose Community Capital as Director of FHA/USDA Loan Originations
Rose Community Capital (RCC), the lending arm of Jonathan Rose Companies focused on the origination, underwriting and placement of FHA insured multifamily mortgages, announces that 30+ year industry veteran Edgar Morales has joined the...
Voters evenly split on Prop 21
Results of a Berkeley IGS Poll indicate that likely voters are evenly divided on Prop 21, the rent control initiative which is on the November ballot in California.
The big picture
The results of the poll...
Legacy Partners announces opening of ultra luxurious Skyloft Apartments in Irvine
Legacy Partners (Legacy), a privately-held national real estate firm, announced today the opening of Skyloft Apartments, which is owned by Sanderson J. Ray Development. Located at 2700 Main Street, just steps from Irvine’s Business...
The Mogharebi Group brokers sale of 168-unit multifamily community in Bakersfield, California
The Mogharebi Group (TMG) has arranged the sale of Tyner Ranch Apartments, a 168-unit multifamily community in the Central Valley city of Bakersfield, Calif. for nearly $31 million. Mark Bonas, Senior Vice President for...
