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4/21/2014 - Fox Hollow in Porterville, CA on the Trading Block with Hendricks-Berkadia
Hendricks-Berkadia is pleased to announce the exclusive listing of Fox Hollow, located at 1040 West Grand Avenue in Porterville, CA. The asking price for the 91-unit apartment community is $7,995,000. The seller has engaged Robin C. Kane of Hendricks-Berkadia's Fresno office and Mark J. Bonas of Hendricks-Berkadia's Bakersfield office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

4/16/2014 - Hendricks-Berkadia Presents Falcon Pointe in Riverside, CA for $14.75M
Hendricks-Berkadia is pleased to announce the exclusive listing of Falcon Pointe, located at 2920-2934 Canyon Crest Drive in Riverside, CA. The asking price for the 148-unit apartment community is $14,750,000. The seller has engaged Margie Molloy of Hendricks-Berkadia's Inland Empire office and David Andrews of Hendricks-Berkadia's San Diego office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

4/15/2014 - Unpriced Multifamily Asset in Columbia, MO Listed by Hendricks-Berkadia
Hendricks-Berkadia is pleased to announce the exclusive listing of Campus View, a 172-unit apartment community, located at 301 Campusview Drive in Columbia, MO. The seller has engaged Kevin Larimer of Hendricks-Berkadia's Michigan office and Ken Aston and Andrea Kendrick of Hendricks-Berkadia's St, Louis office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

4/09/2014 - Hendricks-Berkadia Markets The Winthrop in Tacoma, WA for $8.25M
Hendricks-Berkadia is pleased to announce the exclusive listing of The Winthrop, located at 776 Commerce Street in Tacoma, WA. The asking price for the 194-unit apartment community is $8,250,000. The seller has engaged Jim Jensen of Hendricks-Berkadia's Tacoma office and Robert DiPietrae, David Sorensen and Ben Johnson of Hendricks-Berkadia's Seattle office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

4/08/2014 - Seven-Property Portfolio in Birmingham, AL Listed by Hendricks-Berkadia
Hendricks-Berkadia is pleased to announce the exclusive listing of the Carmel Road Portfolio, a seven-property, 259-unit multifamily portfolio, located in Birmingham, AL. The seller has engaged David Oakley, David Etchison and Josh Jacobs of Hendricks-Berkadia's Alabama office to market the portfolio. For additional information, please visit the [Dedicated Property Website.]

4/07/2014 - Hendricks-Berkadia Negotiates Sales Of Two Tampa Communities For More Than $10 Million
Tampa, Fla. - Monument Real Estate Services, LLC of Coral Gables has sold two Tampa apartment communities to Wisco 7, LLC a Tampa based multi-family investment company. The two assets, Newport Riverside 164-units and Newport Pointe 128-units, sold for a combined $10.225 million.

Newport Pointe, built in 1974, is located at 4900 N. MacDill Ave. and is situated on 5.11 acres with five buildings containing one and two bedroom floor plans that average $568 per month. Amenities included a playground, sports court, clubhouse, laundry facility and a swimming pool with a sun deck.

Newport Riverside, built in 1968, is located at 4111 N. Poplar Ave. and is situated on 7.48 acres with 15 buildings containing one and two bedroom floor plans that average $609 per month. Amenities included a laundry facility, clubhouse, fitness center, carports, and a swimming pool with a sun deck.

Hendricks-Berkadia's Vice President Jason Stanton, based in Tampa, negotiated both transactions with partners Cole Whitaker and Hal Warren out of their Orlando office on behalf of the Sellers.

Stanton said the new owner plans a value-add program for both of the communities to increase overall quality of the units and the communities' curb appeal allowing for future revenue and occupancy increases. [Tampa Bay Newswire]

4/04/2014 - Hendricks-Berkadia Offers Forest Ridge in Birmingham, AL for $12.5M
Hendricks-Berkadia is pleased to announce the exclusive listing of Forest Ridge, located at 660 Valley Crest Drive in Birmingham, AL. The asking price for the 268-unit apartment community is $12,500,000. The seller has engaged David Oakley, David Etchison, William Parkhurst and Royce Emerson of Hendricks-Berkadia's Alabama office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

4/03/2014 - Three-Property Portfolio in Kansas City, MO Featured by Hendricks-Berkadia
Hendricks-Berkadia is pleased to announce the exclusive listing of the Bridge Portfolio, a three-property, 581-unit multifamily portfolio, located in Kansas City, MO. The seller has engaged Phillip S. Brimble, Bill Powell and Laurel Wallerstedt of Hendricks-Berkadia's Kansas City office to market the portfolio. For additional information, please visit the [Dedicated Property Website.]

4/02/2014 - Wetumpka apartments sell for $14.4M
A Pennsylvania-based LLC recently purchased Chapel Lakes apartments in Wetumpka for $14.4 million, according to a release from investment banking and research company Hendricks-Berkadia.

The sales price of $94,736 per unit for the 152-unit complex set a new record for the greater Montgomery apartment market, according to David Etchison, senior vice president of Hendricks-Berkadia's Alabama office.

Two adjacent, multifamily land sites also were sold for $600,000 in a deal that the company described as "separate, but related." The purchaser, Chapel Lakes LLC, plans to build another 152 multifamily units in that 30 acres, the release said.

"After receiving over a dozen offers from national, regional and local investors, the marketing campaign concluded as a win-win for both the buyer and seller," Etchison said. "The local job growth spurred by the new $246 million Wind Creek Casino, coupled with Hyundai's continued success, will bode well for the new owner." [Montgomery Advertiser]

4/01/2014 - Hendricks-Berkadia Lists Broken Condo Project in Escondido, CA for $9.2M
Hendricks-Berkadia is pleased to announce the exclusive listing of Sienna Hills, located at 145-225 West El Norte Parkway in Escondido, CA. The asking price for the 51-unit apartment community is $9,200,000. The seller has engaged Steve Huffman and Allen Chitayat of Hendricks-Berkadia's San Diego office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/31/2014 - Ridgeline in San Bernardino, CA Presented by Hendricks-Berkadia for $19.5M
Hendricks-Berkadia is pleased to announce the exclusive listing of Ridgeline, located at 1925 West College Avenue in San Bernardino, CA. The asking price for the 160-unit apartment community is $19,500,000. The seller has engaged Alex Mogharebi and Otot Ozen of Hendricks-Berkadia's Ontario office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/28/2014 - Hendricks-Berkadia Lists Class A Student Housing Community in Tampa, FL
Hendricks-Berkadia is pleased to announce the exclusive listing of The Flats at 4200, a 314-unit Student Housing community, located at 4200 East Fletcher Avenue in Tampa, FL. The seller has engaged Kevin Larimer and Michael Tassoni of Hendricks-Berkadia's Michigan office and Jason Stanton of Hendricks-Berkadia's Tampa office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/27/2014 - Valley Springs Listed by Hendricks-Berkadia's Bakersfield Office for $8.5M
Hendricks-Berkadia is pleased to announce the exclusive listing of Valley Springs, located at 400 White Lane in Bakersfield, CA. The asking price for the 120-unit apartment community is $8,500,000. The seller has engaged Mark J. Bonas of Hendricks-Berkadia's Bakersfield office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/26/2014 - Hendricks-Berkadia Lists 164-Unit Property in Reynoldsburg, OH for $7.35M
Hendricks-Berkadia is pleased to announce the exclusive listing of Muirwood Village, located at 3251 Haddington Drive in Reynoldsburg, OH. The asking price for the 164-unit apartment community is $7,350,000. The seller has engaged Eric Taylor and Mark Rohr of Hendricks-Berkadia's Michigan office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/25/2014 - Creekwood in Jacksonville, FL Marketed by Hendricks-Berkadia for $8.6M
Hendricks-Berkadia is pleased to announce the exclusive listing of Creekwood, located at 8343 Hogan Road in Jacksonville, FL. The asking price for the 75-unit apartment community is $8,600,000. The seller has engaged Cole Whitaker and Hal Warren of Hendricks-Berkadia's Orlando office, Jason Stanton of Hendricks-Berkadia's Tampa office and David Oakley of Hendricks-Berkadia's Alabama office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/20/2014 - Hendricks-Berkadia's Louisiana Office Lists Regency Woods in Pascagoula, MS
Hendricks-Berkadia is pleased to announce the exclusive listing of Regency Woods, a 184-unit apartment community, located at 4800 Long Avenue in Pascagoula, MS. The seller has engaged Gregg Cordaro of Hendricks-Berkadia's Louisiana office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/19/2014 - Hendricks-Berkadia Negotiates Sale of 39.5 Acre site in Innisbrook
TAMPA, Fla. - Hendricks-Berkadia Apartment Real Estate Advisors, which ranks as one of the nation's leading multi-family investment banking and research companies, recently negotiated a $7.1 million sale price for a 39.53-acre development site in north Tampa.

Cole Whitaker, partner who heads Hendricks-Berkadia's southeast region, negotiated the transaction along with associate partner Hal Warren in Orlando, representing the seller PNC Bank. Bruce Erhardt of Cushman and Wakefield represented the buyer, Homes at Westbay, LLC.

Whitaker said the site is located inside Innisbrook in Pinellas County. [Tampa Bay Newswire]

3/18/2014 - Cirby Oaks in Roseville, CA Marketed by Hendricks-Berkadia for $5.7M
Hendricks-Berkadia is pleased to announce the exclusive listing of Cirby Oaks, located at 1000 Cirby Oaks Way in Roseville, CA. The asking price for the 56-unit apartment community is $5,700,000. The seller has engaged Steven A. Nelson, Al R. Inouye and Dusty J. Haeling of Hendricks-Berkadia's Sacramento office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/17/2014 - Hendricks-Berkadia Lists 67-Unit Asset in Los Angeles, CA for $7.995M
Hendricks-Berkadia is pleased to announce the exclusive listing of Mariposa Apartments, located at 939 North Mariposa Avenue in Los Angeles, CA. The asking price for the 67-unit apartment community is $7,995,000. The seller has engaged Brent Sprenkle of Hendricks-Berkadia's West Los Angeles office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/12/2014 - North Hollywood Apartments Fetch $27M
LOS ANGELES - San Diego-based MG Properties Group has purchased the Marquee Apartment Homes from Marquee Apartments LLC for $27.5 million, GlobeSt.com has learned exclusively. As part of the transaction, the buyer assumed the seller's existing loan.

Located on 4.46 acres of land in North Hollywood, the property has 236 studio, one- and two-bedroom units has recently been renovated to give the community a resort-like feel. The seller upgraded the property's interior units, added a fitness center and installed brand-new copper piping. The seller also completed a new construction and leasing center.

There is a growing demand for luxury apartment options in North Hollywood, and these new amenities and renovations offer an affordable option for luxury living. "The transaction demonstrates the strength of the local multifamily market and the healthy demand for renovated buildings that are well managed with strong cash flow," says Adrienne Barr of Hendricks-Berkadia, who represented the buyer and the seller in the transaction along with fellow Hendricks-Berkadia broker Robin Ossenbeck.

The property is adjacent to North Hollywood's Arts District, which is the most sought after neighborhood in the submarket. Currently there is only one new-construction development close to this area, Vineland Metro. The community opened in February and merges urban and suburban living styles with 27 for-sale townhomes and close proximity to public transportation, entertainment and restaurants. [GlobeSt]

3/07/2014 - Mogharebi of Hendricks-Berkadia Signs Listing for Oak Park in Tulare, CA
Hendricks-Berkadia is pleased to announce the exclusive listing of Oak Park, located at 1100 Martin Luther King Jr. Avenue in Tulare, CA. The asking price for the 81-unit apartment community is $6,200,000. The seller has engaged Alex Mogharebi of Hendricks-Berkadia's Ontario office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/07/2014 - Homewood apartment communities sell for $11.6M
Two Homewood apartment communities totaling over 260,000 square feet have been sold for $11.675 million.

Hendricks-Berkadia, which facilitated a $105.9 million sale of the Magic City Five portfolio in late 2013, transacted the sale of Olympia Village and Knoll Crest, located a half mile from the Magic City Five.

Olympia Village is a 127-unit apartment community, located adjacent to the 150-unit Knoll Crest.

David Oakley, partner in Hendricks-Berkadia's Alabama office represented the seller, Knoll Crest Partners/Olympia Partners, both based in Birmingham.

The New Jersey-based buyer, Knoll Crest Holding Company/Olympia Partners, assumed existing Fannie Mae loans for each community.

Both communities were constructed between 1975 and 1976.

Olympia Village has a total of 121,002 square feet that can be rented, with one, two, three and four-bedroom apartments.

Knoll Crest, the oldest of the two buildings has 145,334 square feet of rentable space, with one, two and three-bedroom apartments.

A press release by Hendricks-Berkadia states that the buyer plans to "complete light interior renovations and amenity upgrades to both properties."

This makes a total of $117,575,000 in transactions, along with 2,521 apartment units, negotiated by Hendricks-Berkadia in this area since the fourth quarter of 2013. [Birmingham Business Journal]

3/06/2014 - 8-Property Portfolio in Los Angeles, CA Listed by Hendricks-Berkadia for $14.6M
Hendricks-Berkadia is pleased to announce the exclusive listing of the Sun Valley Co-Op Portfolio, a eight-property, 157-unit multifamily portfolio, located in Los Angeles, CA. The seller has engaged Brent Sprenkle of Hendricks-Berkadia's West Los Angeles office to market the portfolio. For additional information, please visit the [Dedicated Property Website.]

3/04/2014 - Hendricks-Berkadia Showcases Tuscany Villas in West Covina, CA for $22M
Hendricks-Berkadia is pleased to announce the exclusive listing of Tuscany Villas, located at 1933 - 1945 East Garvey Avenue North in West Covina, CA. The asking price for the 165-unit apartment community is $22,000,000. The seller has engaged Dean Zander of Hendricks-Berkadia's West Los Angeles office and Vince Norris and Spencer Scott of Hendricks-Berkadia's Los Angeles North office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

3/03/2014 - Unpriced Asset in Lynnwood, WA Listed by Hendricks-Berkadia, Offers Due 3/12
Hendricks-Berkadia is pleased to announce the exclusive listing of Pinewood Square, a 180-unit apartment community, located at 6500 208th Street SW in Lynnwood, WA. The seller has engaged Kenny Dudunakis, Ben Johnson and David Sorensen of Hendricks-Berkadia's Seattle office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/28/2014 - Hendricks-Berkadia's Las Vegas Office Markets Park Forest
Hendricks-Berkadia is pleased to announce the exclusive listing of Park Forest, a 204-unit apartment community, located at 50 North 21st Street in Las Vegas, NV. The seller has engaged Carl Sims, Nick Ingle and Angela Powers-Armstrong of Hendricks-Berkadia's Las Vegas office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/25/2014 - The Allison in Scottsdale, AZ Listed by Hendricks-Berkadia - Bid Deadline: 3/06
Hendricks-Berkadia is pleased to announce the exclusive listing of The Allison Condominiums, a 152-unit condominium community, located at 14145 North 92nd Street in Scottsdale, AZ. The seller has engaged Mark Forrester, Ric Holway and Daniel Cheyne of Hendricks-Berkadia's Phoenix office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/24/2014 - Bid Deadline: 2/27 for Hendricks-Berkadia-Listed Alantra in Mesa, AZ
Hendricks-Berkadia is pleased to announce the exclusive listing of Alantra, a 244-unit apartment community, located at 510 South Extension Road in Mesa, AZ. The seller has engaged Mark Forrester, Ric Holway and Daniel Cheyne of Hendricks-Berkadia's Phoenix office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/20/2014 - Bakersfield Portfolio Presented by Hendricks-Berkadia for $12.2M
Hendricks-Berkadia is pleased to announce the exclusive listing of the Bakersfield Portfolio, a two-property, 202-unit multifamily portfolio, located in Bakersfield, CA. The seller has engaged Alex Mogharebi and Otto Ozen of Hendricks-Berkadia's Ontario office to market the portfolio. For additional information, please visit the [Dedicated Property Website.]

2/19/2014 - Unpriced Asset in Mesa, AZ Listed by Hendricks-Berkadia
Hendricks-Berkadia is pleased to announce the exclusive listing of Waterstone, a 269-unit apartment community, located at 1651 South Dobson Road in Mesa, AZ. The seller has engaged Mark Forrester, Ric Holway and Dan Cheyne of Hendricks-Berkadia's Phoenix office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/18/2014 - Hendricks-Berkadia's Phoenix Office Lists Sendero Ridge on Broadway
Hendricks-Berkadia is pleased to announce the exclusive listing of Sendero Ridge on Broadway, a 288-unit apartment community, located at 945 West Broadway Road in Mesa, AZ. The seller has engaged Ric Holway, Mark Forrester and Dan Cheyne of Hendricks-Berkadia's Phoenix office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/13/2014 - Harbor Creek in Canton, GA Listed by Hendricks-Berkadia - Call For Offers: 2/27
Hendricks-Berkadia is pleased to announce the exclusive listing of Harbor Creek, a 316-unit apartment community, located at 501 Harbor Creek in Canton, GA. The seller has engaged David Oakley, David Etchison and Royce Emerson of Hendricks-Berkadia's Alabama office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/12/2014 - Bid Deadline: 2/13 for Hendricks-Berkadia-Listed Casa Antigua in Sierra Vista, AZ
Hendricks-Berkadia is pleased to announce the exclusive listing of Casa Antigua, located at 2299 Oakmont Drive in Sierra Vista, AZ. The asking price for the 76-unit apartment community is $7,285,000. The seller has engaged Art Wadlund and Clint Wadlund of Hendricks-Berkadia's Tucson office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/11/2014 - Hendricks-Berkadia's Ontario Office Markets Summit Place for $5.55M
Hendricks-Berkadia is pleased to announce the exclusive listing of Summit Place, located at 7405 Sterling Avenue in San Bernardino, CA. The asking price for the 80-unit apartment community is $5,550,000. The seller has engaged Alex Mogharebi and Otto Ozen of Hendricks-Berkadia's Ontario office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/10/2014 - Unpriced Multifamily Asset in San Antonio, TX Listed by Hendricks-Berkadia
Hendricks-Berkadia is pleased to announce the exclusive listing of Coral Ridge, a 131-unit apartment community, located at 8506 Wakefield Drive in San Antonio, TX. The seller has engaged Mike Miller, Chris Ross and Will Caruth of Hendricks-Berkadia's San Antonio office to market the property. For additional information on the property, please visit the [Dedicated Property Website.]

2/07/2014 - Three apartment complexes sold for $14.6M
Apartment properties continue to be a hot item for real estate brokers in 2014.

Not only are new units being built, existing communities around the state are still drawing interest from buyers and investors.

In one of the latest deals, Hendricks-Berkadia, an apartment real estate firm, said it recently negotiated the sale of three Alabama apartment communities totaling 367 units for $14.6 million.

The largest of those complexes was the 180-unit Chadwick Place in Huntsville, which sold for $7.45 million. David Oakley, Hal Warren, Cole Whitaker and Jason T. Stanton represented the seller, The Hallmark Cos. of Atlanta. Southeast Holdings, of Dexter, Mo., was the buyer.

Oakley also represented the seller, Ruffner Mountain Management, in the sale of the 160-unit Alpine village complex in Hoover. The buyer was Cofinance Inc., of Hackensack, N.J. Cofinance bought the property for $6.5 million and assumed the existing Fannie Mae loan.

The other complex in the deal was 27-unit Medford Manor. David Etchison and Josh Jacobs represented the seller in the sale of the complex.

For 2013, the Alabama office of Berkadia-Hendricks said it brokered the sale of 39 apartment communities representing more than 9,000 units for nearly $510 million. [Birmingham Business Journal]

2/06/2014 - Epoch Developing 292 Apartments Along Washington Street in Downtown Phoenix
Phoenix - Epoch Properties Inc. in Winter Park, Fla. (Kyle Riva, pres.) plans to develop 292 apartments in a $50 million project that should bring about 400 residents to downtown Phoenix. A 1.92-acre parcel located along the south side of Washington Street at 12th Street is targeted for 152 units and a 1.87-acre site located along the north side of Washington Street at 11th Street (alignment) is planned for 140 units. A company formed by Epoch paid a combined $8.1 million to buy the properties from a trust and company formed by Michael Lafferty in Phoenix. The deal was negotiated by Mark Forrester an Ric Holway of Hendricks Berkadia in Phoenix. The downtown apartment projects will be the first in the Valley for Epoch Properties. Since 1970, the privately-held firm has developed more than 32,000 multi-family units in 55 cities located from Florida to California. While the upscale apartments on Washington Street will be the first for Epoch in the Phoenix market, Riva says hopefully it will not be the last. The company is now investing from its Epoch Multi-family Opportunity Fund II and is looking for sites in the Valley to develop more apartments. The two apartment communities in Phoenix, being called 11 Capital Place and 12 Capital Place, are being designed by Archicon. Plans call for two, four-story structures each on top of one-level of podium parking. Riva says construction slated to start second quarter 2014, with opening to follow in early 2015. Build out expected third quarter 2015. Contractor still to be selected. Studio, one-, two- and three-bedroom units to range from 890 sq. ft. to 1,500 sq. ft. Monthly rental rates projected to run from $1,200 to $2,400. Development cost (land and buildings) estimated to be approaching $50 million. Construction financing yet to be arranged. Epoch may decide to develop the Phoenix apartments in a joint venture and is likely to hold the assets for investment after completion of construction and lease up. Epoch will manage the multi-family projects, which will both be adjacent to light rail stops at 12th Street. There is a light rail station on Jefferson Street going east and on Washington Street going west. Riva says typical tenants will be young professionals with ties to the legal industry, the downtown campus of Arizona State University and the nearby Phoenix Sky Harbor International Airport. The sites for the newly planned apartments are about one block apart on opposite sides of Washington Street. The 12th Street parcel, which is bordered on the south by Jefferson Street, has a roughly 35,000-square-foot structure in place that once was headquarters for Lafferty Electric. That building, which Lafferty has been using as a warehouse, will be razed for the new apartments. Records show Epoch Downtown Phoenix Apartments LLC paid $4.292 million to buy the site for 12 Capital Place, which is at 1209 E. Washington Street. The seller in the cash sale was Michael J. Lafferty Revocable Trust. In the other property sale, Epoch Downtown Phoenix Apartments LLC paid $3.808 million to acquire the site for 11 Capital Place. The seller in that cash sale was 1100 East Washington LLC (Lafferty's company). That parcel, which is at 1012 E. Washington Street, has a 31,000-square-foot retail building that will be razed. In June 2012, Lafferty's company paid just under $2.219 million to buy that property from Azteca Wedding Enterprises Inc. in Phoenix. The long time bridal business owned by the Torrez family still operates from a 25,771-square-foot building it owns next door at 1010 E. Washington Street. That commercial structure will remain in place. After moving Lafferty Electric from the 1209 E. Washington Street property in 2004 and then selling the business in 2006, Lafferty has been pursuing opportunities in solar technology. He also took the two Washington Street parcels through the entitlement process, paving the way for the multi-family projects. Lafferty says he is involved with the "urban movement" in downtown Phoenix and is exploring opportunities to bring amenities to the area that will support the residents that Epoch Properties will attract. Get more from Riva at (407) 644-9055. Call Lafferty at (602) 220-9696, ext. 202. Forrester and Holway are at (602) 955-1122. [Brew]

2/05/2014 - San Diego Team of Steve Huffman and Allen Chitayat Lead Off 2014 with Four Apartment Closings
Hendricks-Berkadia is pleased to announce the San Diego team of Steve Huffman and Allen Chitayat began 2014 in a rapid fashion with the sale of four apartment properties. Chloe Gardens, Chloe Plaza, Villa Terraza and Windsong sold for a combined $24,391,375. The properties have 160 total units.

Windsong is a 104-unit apartment community and was sold for $16,632,500, or $159,928 per unit. Built in 1990, the apartment community offers one- and two-bedroom floor plans. The buyers were Ron and Diane Krueger of East Bradley, LP, of La Mesa, CA. The seller was The McMillin Family Trust of San Diego, CA. Karen Hagen of First American Title handled escrow services. Mike Vinti handled title services.

Villa Terraza is a 30-unit apartment asset and was sold for $4,400,000, or $146,667 per unit. Built in 1987, the two-story, garden-style apartment community offers two bedroom floor plans. The buyer was Bradley Apartments, LLC, of La Mesa, CA. The sellers were East Bradley LP.

Chloe Plaza is a 16-unit apartment community and was sold for $2,067,000, or $129,188 per unit. Built in 1979, Chloe Gardens is a 10-unit apartment community. The property sold for $1,291,875, or $129,188 per unit. The adjacent properties are both garden-style, two-story assets and offer one-bedroom floor plans. Chloe Plaza features a swimming pool. The buyer of both Chloe Plaza and Chloe Gardens was Mark Gosselin of Property West Residential of San Diego, CA. Jeffrey Krueger was the seller for both Chloe Plaza and Chloe Gardens.

Annemarie Lo Coco of Chicago Title handled the escrows and Toby Macfarlane of Title 365 handled the titles for Villa Terraza, Chloe Plaza and Chloe Gardens.

Steve Huffman and Allen Chitayat of the San Diego office of Hendricks-Berkadia negotiated the transactions.

Vacancy in the San Diego metro area finished at 4.4% in 2013. Average asking rent reached $1,596 per month in December, up 3.2% from one year prior. [Hendricks-Berkadia]

2/03/2014 - Tucson Apartments Fetch $11.5M
TUCSON-Hendricks-Berkadia announces the sale of Brookwood, located at201 South Kolb Rd. The 272-unit apartment community was sold for $11.5 million.

Built in 1973, the two-story, garden-style apartment community offers one- and two-bedroom floor plans. The community amenities include a clubhouse, billiards table, heated swimming pool, spa, three laundry facilities and volleyball court.

The seller was Desert Pines Properties, LLC, an affiliate of HSL Properties of Tucson; the buyer was Summit Brookwood I, LLC and Pacific Brookwood, LLC, an affiliate of Summit Equities of Los Angeles, CA.

Art Wadlund and Clint Wadlund of the Tucson office of Hendricks-Berkadia negotiated the transaction. [GlobeSt]

1/30/2014 - Hendricks-Berkadia Lists Two-Property Portfolio in Pico Rivera, CA
Hendricks-Berkadia is pleased to announce the exclusive listing of the The Island and Towne Centre Village, a two-property, 126-unit multifamily portfolio, located in Pico Rivera, CA. The seller has engaged Alex Mogharebi and Otto Ozen of Hendricks-Berkadia's Alabama office to market the portfolio. For additional information, please visit the [Dedicated Property Website.]

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