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.
Two significant commercial real estate deals were recently completed in San Diego’s College Area, including the $69.5 million acquisition of a 263-unit student housing community by an affiliate of San Francisco-based Fowler Property Acquisitions LLC.
TruAmerica Multifamily, with the backing of its institutional equity investors—including Allstate and The Guardian Life Insurance Company of America—acquired five apartment properties in the Pacific Northwest.
Oceana Apartment Homes, a 100-unit apartment complex in Oceanside, was recently purchased by The Apartment Company for $18.2 million. Fowler Property Acquisitions sold the property.
The Apartment Co. of Encinitas has purchased the 100-unit Oceana Apartment Homes in Oceanside for $18.2 million, according to Institutional Property Advisors (IPA), a division of brokerage company Marcus & Millichap. The seller of the property, at 180 Canyon Drive, was San Francisco-based Fowler Property Acquisitions LLC.
CBRE has completed the sale of most of the units in the historic El Cortez condominium complex in midtown Phoenix. The sale included 146 of the 165 units in the complex for a sale price of $6.4 million.
San Francisco-based FPA Multifamily LLC has bought up most of the units at the historic El Cortez condominum complex in Phoenix for $6.4 million. The El Cortez is located in Phoenix’s Melrose Distrct near Seventh Avenue and Osborn Road. It was built in 1964 by longtime television personality Art Linkletter.
Adding to the record pace of apartment sales in the metro region, a California investment firm has purchased an 82-unit community in Lake Oswego for $15.5 million.
ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the $10,750,000 sale of the 138-Unit, Paradise North Apartments located on 40th Street, just North of Bell Road in the Northeast Phoenix/North Paradise Valley submarket.
A prime location and the newest asset on the block mean nothing without proper property management. The management sector gets a bad rap for not being as exciting or mission critical as the more transactional development, acquisitions and brokerage sides of the business. Property management is about forming long-term, trust-based relationships with tenants and renters, and we salute this list of companies that are leading the industry on that front.