Western

SPOKANE, WASH. — Seattle-based Parkview Partners LP has purchased Parkview, a 63-unit multifamily complex located at 1413 E. 7th Ave. in Spokane. Parkview Associates of Seattle sold the property for $2.38 million. The property operates under the terms of a HUD Regulatory Agreement and Section-8 subsidy, providing affordable housing to qualified low-income residents. The acquisition was funded by low-income housing tax credits and bond financing. Robert Di Pietrae of Hendricks & Partners—Seattle negotiated the transaction.

SAN DIEGO — Long Beach, Calif.-based LINC Housing Corp. has acquired Arbor Village, a 112-unit multifamily community located at 4900 Logan Ave. in San Diego, for $13.7 million. The two-story, garden-style community features units offering ceiling fans, wall heating, window coverings, standard appliances, walk-in closets and private balconies or patios. The community also offers a private interior courtyard, 164 open parking spaces, a children’s playground and two on-site laundry facilities. Dick Bassett and Steve Huffman of Hendricks & Partners’ San Diego office represented the seller, DLG Arbor Village LLC with Davlyn Investments, General Partner of San Diego, in the transaction.

LAS VEGAS — Snug Harbor, a 64-unit multifamily community, has been sold to Snug Harbor Condominiums Las Vegas LP, with WLA Investments as managing partner, for an undisclosed price. Located at 2780 E. Flamingo Rd., the property offers 69,432 square feet of residential space and 10,433 square feet of retail space. The community features 12 one-bedroom/one-bath units, 36 two-bedroom/two-bath units and 16 three-bedroom/two-bath units offering full-size washer/dryers, fireplaces, large kitchens with fully appointed appliance packages, ceiling fans, oversized roman tubs with spa jets, double-sink vanities in master baths, walk-in closets in master suites, ample storage and private balconies/patios. Additionally, the community offers a swimming pool, a heated spa, a state-of-the-art fitness center, an expanded leasing office, select covered parking spots and landscaped grounds. Joseph Kupiec of Grubb & Ellis|Las Vegas partnered with Diane Miramontes and Darcy Miramontes of Grubb & Ellis|BRE Commercial to represented the seller, AIMCO/RALS LP, in the transaction.

BEAVERTON, ORE. — Guardian Management LLC, a Pacific Northwest real estate investment and management firm, has acquired Waterhouse Place Apartments for $30 million. Located in Beaverton, the 279-unit property features updated landscaping, a resurfaced spa, new patio doors, and parking and clubhouse upgrades. Guardian plans to invest an additional $3 million, $7,000 per unit, to rehabilitate the property, which was built in 1989. UBS Realty Investors LLC will serve as the equity partner.