December 2010 – NNC announces the close of its latest investor round for Sycamore Villas in Hollywood, CA allowing the asset and its new investor to obtain a new 10 year loan from Freddie Mac. The loan was in the amount of $10,216,000 and at a favorable rate of 4.8%.
October 2010 - NNC has announced the relocation of its affiliated property management, Fusion PMC. Fusion PMC has relocated its Los Angeles area management office to Bixby Knolls in Long Beach, CA. Fusion has continually managed all NNC assets since the inception of NNC and provides a focused, customer service approach for its clients and customers. More information on Fusion can be found at: www.fusionpmc.com.
May 2010 - NNC has announced that its principal and founder, Leroy Carlson has joined the Board of Directors of Terreno Realty Corporation (NYSE – TRNO). Mr. Carlson will continue his activities with NNC Apartment Ventures in addition to his new duties at Terreno.
Feb 2010 – NNC has announced the strategic disposition of Briarhill Apartments in Fullerton California. Part of the original portfolio of NNC, Briarhill was acquired in 2001 for $12,850,000 and sold for $16,100,000 to a private investor. Proceeds from the sale will be used to acquire other assets for the company.
Jan 2010 – NNC Announces Disposition – NNC has announced the sale of the 48 unit Chateau Camarillo in Toluca Lake. The asset was purchased in 2003 for $7,250,000 and sold for $8,400,000 to a private investment group. The proceeds from the sale will be used by the company in continuing it growth plans in its core western markets. NNC was represented by the Encino office of Marcus and Millichap.