Record renter demand continues to fuel apartment industry growth, as revealed in the National Multifamily Housing Council’s (NMHC) newly released 2016 NMHC 50, the authoritative ranking of the country’s largest apartment owners, managers, developers and contractors.
San Francisco-based Fowler Property Acquisitions has acquired two multifamily communities in Denver’s Bear Valley Multifamily submarket from Asher Investments Group in two separate transactions for a total purchase price of $64.25 million, or approximately $137,000 per unit.
Investment Property Group just closed the 97-unit, Las Ventanas multifamily property in the city of Vista, with a sale price of $17.5 million. This marks the Irvine-based firm’s second large out of area closing.
Fowler Property Acquisitions has purchased the 388-unit Landing at Dashpoint apartment community in the Seattle submarket of Federal Way for $46 million. The community is located at 31004 19th Place SW.
INDUSTRY NEWS COMMERCIAL REAL ESTATE $97M in sales show how hot one apartment investor is for SW King CountyFebruary 4, 2016 • Biz Journals
Last Wednesday, King County recorded a deed that showed a San Francisco company paid $46 million for a big Federal Way apartment complex. Two days later, the county recorded a second deal showing that the same investor, Fowler Property Acquisitions (FPA), bought a larger complex 15 miles to the north in Burien for nearly $51.5 million.
A San Francisco company is the latest apartment investor to make a big bet on suburban Seattle. Trinity Property Consultants, an affiliate of Fowler Property Acquisitions (FPA) Multifamily of San Francisco, paid $46 million for the Landing at Dash Point, a 387-unit apartment complex in Federal Way.
Fifty Twenty-Five, a student housing property in San Diego, has come under new ownership, and HFF played no small part in the deal. The provider of commercial real estate and capital markets services facilitated the sale of the premier 942-bed asset to FPA Multi-Family L.L.C. in a $69.5 million transaction.
FPA MultiFamily LLC has purchased Fifty Twenty-Five, a 260-unit, 942-bed Class A luxury student housing community serving San Diego State University, for $69.5 million.
California-based Fowler Property Acquisitions was the buyer in Edmond’s largest multifamily deal this year.
FPA MultiFamily LLC, of San Francisco has agreed to pay $69.5 million for Fifty Twenty-Five, a 260-unit, 942-bed, class A luxury student housing community serving San Diego State University. Holliday Fenoglio Fowler, (HFF) which marketed for an undisclosed seller announced the sale on Thursday.