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New Standard Equities Acquires Three West Coast Properties for $74M
Los Angeles-based New Standard Equities, Inc. acquired three multifamily properties on the West Coast for $74 million. The commercial real estate deals include two assets in Southern California and and one near Seattle.
The assets include:
– the Mediterranean at Towngate ($26 million), a 227-unit community in Moreno Valley, CA; Sklar Kirsh LLP’s Andrew Kirsh structured the transaction on behalf of New Standard Equities
– the Walnut Place Apartments in Pasadena ($14 million) 30-unit community (pictured)
– the Green Leaf Cedar Park in Lynnwood, WA ($24 million) 120-units.
New Standard Equities’ Edward Ring says, “Although we are seeing a slowdown in the exponential rent growth of the past few years, multifamily remains an attractive asset class, particularly in supply-constrained, high-barrier-to entry infill markets bordering Los Angeles, San Diego and Seattle. We plan to invest up to $200 million over the next 12 to 18 months.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


