Multifamily

WOODLAND HILLS, CA-The Denver-based apartment specialist buys an 11-acre site for a 522-unit development on a site that now houses a TV studio complex. Construction will start in about a year.

PHOENIX-A California investor's $675,000 check ropes a fully leased complex with a positive cash flow of 15% after the seller, Ben Ruzmin of Phoenix, hinted it might be for sale. The property is just south of Camelback Road.

WHEATON, MD-Plans for The Montgomery at Wheaton Metro multifamily complex move full steam ahead with the recent groundbreaking on the 243-unit luxury property. Developers are spending $33 million to construct the apartment project, which is due to be completed next spring.

WINTER PARK, FL-Developer Eric Kovar plans to break ground on Labor Day on the Lofts of Winter Park Village: a 176-unit, 500,000-sf apartment venture and have most of it completed by Memorial Day 2004.

HOUSTON-The 91%-occupied Huntington Glen goes to a partnership of Sterling American of New York City and BH Management Services of Dallas. The Houston seller was asking $11.5 million for the complex, the buyer's second in the submarket.

NEWTON, MA-Senior Housing Properties Trust spends $61 million for 18 Alterra Healthcare Corp. properties in 10 states across the US and provides Alterra with a $6.9 million financing package. Alterra filed for bankruptcy protection in January.

SOUTH LYON, MI-More than 140 vacant acres on two parcels could become

BURBANK, CA-The 82-unit complex is near the Warner Bros. Ranch lot and NBC Studios in the Burbank Media District. The Palo Alto seller makes a profit after holding it less than 18 months.