Taking sides on Prop 21
The latest rent control initiative to appear on California’s ballot will be voted on this November. People and groups are now declaring where they stand on Proposition 21. Recapping the basics Prop 21 would allow rent...
$28 million Puget Sound area multifamily asset sale brokered by Marcus & Millichap
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Westminster Towers, a 139-unit multifamily complex in Tacoma, Washington. The property...
Westside Los Angeles multifamily asset sale brokered by Institutional Property Advisors
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of Avalon Venice on Rose, a three-story, 70-unit apartment building with 9,332 square feet of fully leased retail space in...
Stepp Commercial completes $3,025,000 sale of a value-add, 8-unit apartment property in prime West...
Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $3,025,000 sale of an eight-unit, value-add apartment property located at 1237 N. Orange Grove in the Los Angeles submarket...
Stepp Commercial completes $5.1 million sale of Delano Village, an 18-unit apartment property in...
Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $5.1 million sale of Delano Village, an 18-unit apartment property located at 14161 to 14163 Delano Street in Van...
California taxes on millionaires could spell disaster
Facing a massive coronavirus-induced deficit, the California legislatures are weighing a suite of new taxes on top earners, including a first-of-its-kind wealth tax and the highest top rates in the nation. California is the most...
Once booming San Francisco apartment market goes in reverse
The apartment vacancy rate in San Francisco rose to 6.2 percent in May, according to apartment data firm RealPage. That’s up from 3.9 percent only three months ago, after stay-at-home orders went into effect...
Sunrise Management expands San Diego county presence
Expanding its hometown presence, San Diego-based Sunrise Management, which has specialized in managing multifamily properties since 1978, has added eight San Diego multifamily communities totaling 155 units to its portfolio. According to Sunrise CEO and...
Trion Properties acquires 80-unit apartment community in San Leandro, California
Trion Properties, a private equity real estate firm that specializes in multifamily investments in western markets, has acquired Creekside Apartments, an 80-unit multifamily community in San Leandro, California, for $20.5 million. The transaction is Trion’s...
Marcus & Millichap appoints Steve Degennaro Chief Financial Officer
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the appointment of Steve DeGennaro as Chief Financial Officer effective August 17, 2020. DeGennaro...
CGI Real Estate Investment Strategies announces Kasia Mays as first chief operating officer
CGI Real Estate Investment Strategies has named luxury hotel industry veteran Kasia Mays as Chief Operating Officer, furthering its commitment to building a multifamily brand that places emphasis on lifestyle and hospitality, announced company...
How COVID is impacting the multifamily business in California
IMN recently put on a webinar discussing the impact of the pandemic on the business of providing multifamily housing in California. The webinar set a very ambitious number of topics to be discussed, especially...
Dunleer sells fully renovated apartment asset, The Oxford Hollywood, for $410,000 per unit
Dunleer, a Los Angeles-based private real estate investment and development firm, announced the $2.05 million sale of The Oxford Hollywood, a fully occupied five-unit apartment property located at 1020 N. Oxford Avenue in Los...
Levin Johnston directs three multifamily property sales in California Bay Area for a total...
Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed three multifamily property sales in the Bay...
Tower 16 Capital Partners hires Joe Anfuso as asset manager of $250 million portfolio...
Encinitas-based Tower 16 Capital Partners announced it has hired Joe Anfuso, a 15-year veteran in the real estate investment industry, as an asset manager to oversee its multifamily assets throughout the Southwest region. Tower 16...