SAN FRANCISCO – A six-unit apartment building in San Francisco has sold to an unnamed buyer for $2.1 million. It is located at 164 23rd Ave. in the city’s Lake Street District. Sanford G. Skeie and John Antonini of Marcus & Millichap’s San Francisco office represented the seller, a private investor, in this transaction.
Western
DENVER – The Metro, a 415-unit apartment community in Denver’s Lower Downtown (LoDo) district, has sold to Multi-Employer Property Trust (MEPT) for $90.8 million. The community is 93 percent leased. MEPT plans to renovate the property. Bentall Kennedy, the fund’s real estate advisor, is examining the feasibility of enhancing the property with energy-efficient and sustainable features.
PARKER, COLO. – The Windrock and Stone Canyon apartment communities in Parker have sold to TM Equities for $82.7 million. Windrock boasts 308 units, while Stone Canyon features 352 residences. ARA’s Jeff Hawks, Doug Andrews, Terrance Hunt and Shane Ozment represented the unnamed seller in this transaction.
LOS ANGELES, SAN DIEGO — TIAA-CREF has secured refinancing for the 187-unit Legacy at Westwood in Los Angeles and 251-unit Regents Court in San Diego. The firm received $223.1 million to refinance these properties, along with two other multifamily trophy assets in New York and Dallas. The 10-year, fixed-rate Freddie Mac loans were arranged by Brian Eisendrath from CBRE’s Multifamily Debt and Equity Finance team.
LOS ANGELES — The Academy Tower, a 175,012-square-foot office building in the Los Angeles submarket of North Hollywood, has sold to Kennedy Wilson for $48 million. The building is located at 5200 Lankershim Blvd. It is 97 percent leased. Notable tenants include Endemol, IPPT and Starcom Worldwide. The transaction was funded with $19 million in equity from Kennedy Wilson and a $29-million loan from Bank of America Merrill Lynch.
LOS ANGELES, IRVINE, CALIF. – Avison Young has opened two more offices in Southern California. The Canada-based firm opened its first office in Irvine and its fourth office in Los Angeles. Alan Pekarcik, Daniel Vittone and John Pianta will head up the Irvine office. All three were previously based in Voit’s Newport Beach office. Avison’s newest Downtown Los Angeles office will be led by Derrick Moore, Chris Cooper and Connie Hwang. The Irvine office is located at 2030 Main Street, while the Downtown Los Angeles locale resides at 633 West 5th Street.
DENVER – The Metro, a 415-unit apartment community in Denver’s Lower Downtown (LoDo) district, has sold to Multi-Employer Property Trust (MEPT) for $90.8 million. The community is 93 percent leased. MEPT plans to renovate the property. Bentall Kennedy, the fund’s real estate advisor, is examining the feasibility of enhancing the property with energy-efficient and sustainable features.
PARKER, COLO. – The Windrock and Stone Canyon apartment communities in Parker have sold to TM Equities for $82.7 million. Windrock boasts 308 units, while Stone Canyon features 352 residences. ARA’s Jeff Hawks, Doug Andrews, Terrance Hunt and Shane Ozment represented the unnamed seller in this transaction.
LOS ANGELES, SAN DIEGO — TIAA-CREF has secured refinancing for the 187-unit Legacy at Westwood in Los Angeles and 251-unit Regents Court in San Diego. The firm received $223.1 million to refinance these properties, along with two other multifamily trophy assets in New York and Dallas. The 10-year, fixed-rate Freddie Mac loans were arranged by Brian Eisendrath from CBRE’s Multifamily Debt and Equity Finance team.
LOS ANGELES — The Academy Tower, a 175,012-square-foot office building in the Los Angeles submarket of North Hollywood, has sold to Kennedy Wilson for $48 million. The building is located at 5200 Lankershim Blvd. It is 97 percent leased. Notable tenants include Endemol, IPPT and Starcom Worldwide. The transaction was funded with $19 million in equity from Kennedy Wilson and a $29-million loan from Bank of America Merrill Lynch.