Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
Thomson and tommie Further Expand Hollywood’s Hospitality Pipeline
As the city’s population continues to grow, and its core continues its extensive revamp, L.A.’s hospitality market is matching that growth with consistent gains in terms of ADR and occupancy over the past twelve months. The city’s development pipeline is shouldering a large chunk of the weight add by new rooms under construction in the state, and Commune Hotels recently revealed that it will be adding to it with two new planned facilities in the Hollywood submarket.
Boutique M-F Asset Attracts Buyer From Down Under
Austin’s flourishing economy is a major attraction for local investors and in the recent years it started receiving international interest too. Recently, Australian real estate fund manager EG Funds Management purchased its first property in downtown Austin.
CityCenter Condos Veer Toward Sellout
For a while there, the CityCenter project in Las Vegas was shadowed by the failure of the Harmon tower. The district’s fortunes have since turned, and amid the resurgence of the city’s economy the multifamily component is performing nicely. Veer Towers, the two-story luxury condominium project set up in the very core of CityCenter, continues to move units.
New Griffin REIT Grabs MGM Campus
As the residential market continues its climb from the deep canyon created by the recession, the city’s office market is also continuing to improve, generating investor interest. Griffin Capital Essential Asset REIT II, an entity created in 2014, recently completed the purchase of a fully leased office property in the Las Vegas market, the trust’s seventh addition to its portfolio and the first acquisition completed in the state of Nevada.
Bay Area’s M-F Boom Fuels Refinancing in Fremont
Vue Fremont and Waterstone at Fremont are two multifamily properties located in Fremont, on the southeastern end of the San Francisco Bay. Both properties are currently owned by Pacific Urban Residenital, and find themselves in one of the fastest growing residential markets in the entire country.
Westside Los Angeles Community Refinanced As Market Adjusts to Influx of New Inventory
A multifamily located at a meeting point between the Palms, Mar Vista and West L.A. was recently involved in a refinancing worth a total of $31.8 million. Oak Grove Capital Vice President Levi Brooker was the originator of the loan, acting on behalf of the owner of the Westwood Villa Apartments.
Denver Investor Enters San Antonio Market
Privately owned hotel operating and development company Silverwest Hotels, LLC recently expanded its portfolio while entering the San Antonio market. The Denver-based investor announced the acquisition of three Hilton and Marriott branded hotels which total 313 rooms.
Core Seattle Retail Starts Pricing Out Investors
As the core of the Seattle MSA is slowly being suffocated by investor interest, focus is slightly shifting to areas with less pressure from flowing capital. A case in point is the recent sale of Woodinville Plaza, on the Eastern end of the Puget Sound area. Its location in an affluent neighborhood of the Seattle metro, combined with a large population, makes the retail asset almost perfectly fit the profile of the new hot commodity in the area.
Stream Targets Baby Boomers with First Active Adult Living Community in City
There are about 74.7 million Millennials and 75.2 million Baby Boomers, according to Census data. San Antonio’s Baby Boomer population has seen an increase of 8 percent between 2000 – 2010, not only because of the sunny climate with moderate winters, but also due to its stable economy and affordable housing. Stream Realty Partners took note of them.
New Dimensions for Wood Partners’ Trendy Downtown Apartment Building
With real estate capital flowing through the veins of Seattle these days, a new opportunity only recently presented itself for those investors who crave a shot at owning a Seattle residential high-rise. Wood Partners has contracted CBRE to market and broker the listing of one of its most recent multifamily projects in the area.