FPA Multifamily
Milpitas apartments trade for $336,000 per unit
August 25, 2016Biz Journals

Interstate Equities Corp. has a new asset in its portfolio: A 137-unit apartment complex in Milpitas. The fund manager just paid $46 million, or about $336,000 per door, for the project, formerly called Meritage Apartments. IEC’s new name is “555 Apartments,” which is a reference to the address at 555 S. Park Victoria Drive.

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Former SRO Apartments to See New Life as Market-Rate Studios
June 28, 2016Arbor Loan Express

Hotel Metro, located at 434-435 13th St. in the submarket of East Village, has sold for a total consideration of $6.1 million. The seller was San Diego Housing Commission (SDHC), a public housing agency that creates and preserves affordable housing in San Diego. The buyer was Fowler Property Acquisitions LLC, based in Newport Beach, Calif.

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Suburban L.A. Apartments Sell for $45.5Mln
June 25, 2016CRE News

Gelt Inc. has paid $45.5 million, or $196,121/unit, for the 232-unit Monterra Ridge apartments in Santa Clarita, Calif., about 35 miles northwest of Los Angeles. The seller was FPA Multifamily of San Francisco. Marcus & Millichap brokered the transaction.

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Peachtree Corners Apartment Community Trades Hands
June 22, 2016CBRE

CBRE’s Capital Markets team announced the sale of The Domain at Holcomb Bridge, a 420-unit apartment community in Peachtree Corners, Ga. CBRE’s Shea Campbell and Kevin Geiger of the Southeast Multifamily Group exclusively represented the seller, FPA Multifamily.

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FPA Multifamily makes NMHC 50 Largest Apartment Owners List
May 10, 2016NMHC

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.

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