Strong OC Fundamentals Accelerate Multifamily Construction

The Swanson Apartment Team News

Multifamily remains the most desirable asset class in Orange County due to a steady increase in apartment rental demand, strong sector fundamentals and the county’s emergence as a Southern California leader in the economic recovery. These factors have become a catalyst for a surge in multifamily asset construction. Apartment rental demand continues to grow in Orange County due to the …

Price, Rates Make for Rare MF Sale

The Swanson Apartment Team News

CA-Windsor Gardens, a 708-unit multifamily complex here, sells for $191 per square foot and brings in rental rates 15% below market, creating a rare value-add opportunity. Read the full article at Globe Street.

Colliers International Completes 64 Unit Apartment Sale for $12.730 Million in Huntington Beach, Calif.

The Swanson Apartment Team News

Colliers International, the third largest global real estate services organization, has completed a 64 unit apartment sale located at 19822 Brookhurst St., Huntington Beach, Calif. The transaction is valued at $12.730 million. Pat Swanson, Vice President, based in Colliers International’s Irvine office, represented both the Buyer, MHE Properties, and the Seller, The Von Gremp Family. This apartment complex was completely …

New Irvine Lease Part of Commercial Real Estate’s Slow Turn

The Swanson Apartment Team News

The Casa Granada Apartments at 400 Merrimac Way in Costa Mesa near Orange Coast College has been sold for $12 million, says broker Colliers International. GBW Investments sold the complex, built in 1968, to CT Realty Corp. Casa Granada holds 22 one-bedroom units; 43 two-bedoom units; and a studio. Pat Swanson of Colliers said the deal was priced at a …

Colliers Completes $2.5M Huntington Beach Sale

The Swanson Apartment Team News

Colliers International has completed the sale of 10 condos in downtown Huntington Beach, Calif. The properties were bought in bulk for $2.5 million by Symphony Real Estate Fund, a firm that invests in broken condominium conversions. “We received more than 30 all-cash offers on the property, with the transaction taking 7 months to close,” says Pat Swanson, vice president of …

Colliers Participates in Sale of Multifamily Property in Calif. for $448,889/Unit

The Swanson Apartment Team News

San Clemente, Calif.–Colliers International directed the sale of a three-building, nine-unit apartment complex located at 265 W. Marquita here. The transaction was valued at $4,040,000 or $448,889 per unit. A Newport Beach-based private investor, a first time buyer, acquired the property. Built in 1971, the Class A beach-front property was completely renovated in 2009 and was 100 percent occupied at …

Investors Are Sitting on the Sidelines

The Swanson Apartment Team News

The Swanson Apartment Team’s Pat Swanson was featured on RE Business Online today: The declining job market continues to take a toll on the Orange County multifamily sector. With unemployment reaching 9.6 percent in August, the market is showing little signs of life. Relief will not come until new jobs are created and the unemployment level begins to descend. Read …

Pat Swanson Joins Colliers International’s Greater Los Angeles Operations

The Swanson Apartment Team News

 IRVINE, Calif. (April 27, 2009) –Pat Swanson has joined Colliers International’s Greater Los Angeles operations as a vice president in the firm’s multifamily investment services group. Swanson will serve his private and institutional investor clients from Colliers’ Irvine office. Previously, Swanson was a multifamily advisor with Sperry Van Ness’ Irvine office where he was one of the firm’s top multifamily …