Property Types  Multi-Family
Santa Clarita M-F Trades for $23M
Jul 17, 2009

A 158-unit multi-family property in Santa Clarita, Calif., has traded for $23 million in what a firm involved in the deal says is the largest multi-family transaction in the region in three years. The complex, Canyon Crest, was acquired by Santa Clarita Canyon Crest L.L.C. Built in 1992, it features one-, two- and three-bedroom units and was 95 percent occupied at the time of the sale. According to Lee & Associates LA North/Ventura Inc., which transacted the deal, the $23 million deal is the largest in the region since 2006. The seller, an institutional real estate investment company, had owned the property for approximately 10 years. The new owner also owns a nearby apartment building and aims to achieve certain economies of scale with the addition of Canyon Crest to its portfolio

 
Recent Multi-Family Headlines
Multi-family Mortgage Originations Down 54 Percent from Same Time Last Year
Aug 07, 2009
Commercial and multi-family mortgage originations haven’t escaped the trickle down of the recession and the credit crunch, with volumes 54 percent below last year's second quarter and 83 percent below the peak seen in the second quarter of 2007, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
LoopNet Poll: Industry Expects Continued Price Declines, Eyes M-F as Top Sector
Jul 31, 2009
Confidence has waned about a near-term recovery in the commercial real estate industry, according to a new poll by commercial property listing service LoopNet Inc.
$1B HUD Infusion Could Give Jump to Stalled Affordable Housing Projects
Jul 29, 2009
When the credit markets froze, so did the development of much-needed affordable housing across the nation, but the U.S. Housing & Urban Development is making strides in tackling the issue. The agency, acting through its new $2.25 billion Tax Credit Assistance Program, which is funded via the American Recovery and Reinvestment Act of 2009, has just approved the second dispensation of approximately $1.2 billion to state housing finance agencies in 26 states to finance the resurrection of various affordable rental housing programs.
New Firm Banks on NYC Multi-Family Market
Jul 29, 2009
The current economic climate is certainly putting a drag on many in the commercial property business. But Kevin Salmon is betting that now is a time of opportunity. To that end, Salmon has launched Salmon and Marshall Real Estate Investments, a new firm that will provide investment sales and consultation services in Manhattan’s apartment and condominium markets.
Post Sells Atlanta, Fairfax Properties for $100 Million
Jul 24, 2009
Post Properties Inc. sold Post Ridge in Atlanta to a locally based entity affiliated with Centennial Holding Company L.L.C. for $44.8 million following Monday's sale of Post Forest in Fairfax, Va., to an entity affiliated with Pantzer Properties Inc. for $57.5 million. CB Richard Ellis Inc. brokered the most recent transaction, while the Post Forest deal was brokered by Holliday Fenoglio Fowler L.P. The REIT expects to report net gains of approximately $54 million relating to the sales.
 
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