02.15.2008
The Pines at Broadmoor Bluffs, a 108-Unit Luxury Multifamily Community in Colorado Springs, Sells for $12.69 Million
| DENVER – An affiliate of Calif.-based ConAm Group of Companies has purchased a 108-unit apartment community in Colorado Springs, Colo. from Denver-based Baron Properties for $12.69 million. Moran & Company was the exclusive listing agent with partners, David Martin and Pamela Koster of Moran & Company’s Mountain States office representing the seller.
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01.24.2008
Forest City Enterprises buying Wilson Building in downtown Dallas
| Developer Forest City Enterprises – which is redeveloping the Mercantile National Bank Building – is adding to its holdings downtown with the purchase of another historic property.
Forest City is buying the 105-year-old Wilson Building at Main and Ervay streets. Moran & Company was the exclusive listing agent with partner, Paul Harris of Moran & Company’s Southwest office representing the seller.
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01.02.2008
New Warner Center Condo Deal Sells to Apartment Investor for $44 million
| WOODLAND HILLS, Calif. – Cupertino, Calif.-based Sobrato Development has purchased The Montecito, an 85-unit multifamily community in the Warner Center area of Woodland Hills, Calif., from Burbank, Calif.-based Chandler Partners, for $44 million, or $518,000 per unit, in a deal brokered by the West Coast office of Moran & Company. Mary Ann King, president, and Brett Betzler, a vice president, brokered the transaction. The sale closed on December 20, 2007, upon completion of construction.
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08.07.2007
A 337-Unit Luxury Multifamily Community in Downtown Denver Sells for $75 Million
| DENVER – New York -based JP Morgan has purchased a Class A, 337-unit urban apartment community in Denver from Hartford, Conn.-based Cornerstone Real Estate Advisers, LLP for $75 million. Moran & Company was the exclusive listing agent with partners, David Martin and Pamela Koster of Moran & Company’s Mountain States office representing the seller.
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06.21.2007
Matsu, A 175-Unit Multifamily Development Site in Los Angeles’ Little Tokyo Acquired by AvalonBay Communities
| LOS ANGELES – AvalonBay Communities, Inc. has purchased Matsu – a 175-unit multifamily development site in downtown Los Angeles from Red Bank, N.J -based K. Hovnanian Homes. Moran & Company was the exclusive listing agent, with senior broker Michael Murphy of Moran & Company’s West Coast office representing the seller.
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05.23.2007
A 156-Unit Multifamily Community in the Denver Technology Center Sells for $15.2 Million
| DENVER, Colo. – San Diego -based Fairfield Residential LLC (dba in Colorado as FF Development LP) has purchased a 156-unit apartment community in Denver, Colo., from Englewood, Colo.-based Archstone-Smith for $15.2 million. Formerly known as Archstone DTC, Fairfield Development LP has renamed the community Arabella. Moran & Company was the exclusive listing agent with partners, David Martin and Pamela Koster of Moran & Company’s Mountain States office representing the seller.
According to Martin, Arabella represents a well located property with an attractive redevelopment opportunity. “The site enjoys a “B-8” zoning classification which means it has the most liberal multifamily zoning in Denver. In fact, this zoning is so attractive, the city no longer issues these zoning classifications,” Martin said. “This coupled with the property’s value-add potential, generated incredibly strong investor interest.
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04.16.2007
EmeryBay Club, A 261-Unit Multifamily Community in Emeryville Sells for $59.6 Million
| EMERYVILLE, Calif. - Englewood, Colo.-based Archstone-Smith has purchased a 261-unit apartment community in Emeryville, Calif., from EmeryBay II Associates for $59.6 million. Chicago-based Moran & Company was the exclusive listing agent with Mary Ann King, president, and Brett Betzler, broker, of Moran & Company’s West Coast office, representing the seller.
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03.30.2007
Westhills, A 400-Unit Multifamily Community in Lakewood, Colorado Sells for $34.8 Million
| DENVER, Colo. – San Francisco-based Fowler Property Acquisitions (“FPA”) has purchased Westhills – a 400-unit apartment community in Lakewood, Colo., from San Diego -based Fairfield Residential LLC (dba in Colorado as FF Development LP) for $34.8 million. Moran & Company was the exclusive listing agent with partners, David Martin and Pamela Koster of Moran & Company’s Mountain States office representing the seller.
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02.23.2007
Alta Vista in Escondido Sells For $22 Million
| ESCONDIDO, Calif. – Chicago-based Capri Capital Partners has sold Alta Vista, a 102-unit apartment community in Escondido, Calif., to San Diego -based Fairfield Residential LLC, for $22 million, in a deal brokered by the West Coast office of Moran & Company. Broker, Tom Moran Jr. represented the seller.
Purchased for $215,000 per unit, Alta Vista is a price record for Escondido and the north Interstate 15 and east Highway 78 corridors, according to Moran.
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01.31.2007
Archstone Pelican Point, A 400-Unit Multifamily Community in Ventura Sells for $85 Million
| VENTURA, Calif. – The San Diego based Western division of JPI has purchased Archstone Pelican Point – a 400-unit apartment community in Ventura, Calif., from Englewood, Colo.-based Archstone-Smith for $85 million. Moran & Company was the exclusive listing agent with senior broker Michael Murphy of Moran & Company’s West Coast office representing the seller.
According to Murphy, Archstone Pelican Point represented a rare opportunity to purchase a property in a high barrier-to-entry market in one of the area’s most desirable residential suburbs.
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