MOORPARK, CALIF. — Decron Properties has completed the disposition of Ranch at Moorpark, an apartment community in Moorpark, approximately 50 miles west of Los Angeles. AEW Capital Management purchased the asset for $133.2 million. Located at 51 Majestic Court, Ranch at Moorpark features 376 apartments, a rental office, fitness center, yoga/spin studio, resident clubhouse with chef’s kitchen, children’s play area, dog park, pool, poolside barbecue and dining areas, fire pits and seating areas.
LOS ANGELES — Cityview has completed Belle on Bev, a 243-unit mixed-use project in Los Angeles’ Historic Filipinotown (HiFi). Belle on Bev, originally announced in early 2023, features a mix of studio, one- and two-bedroom floorplans with Latch smart home systems including keyless entry and smart thermostats, luxury vinyl flooring, turnkey Wi-Fi and in-unit washers/dryers. The property also features 3,500 square feet of commercial space and 21 affordable housing units. Community amenities include a club room, pool courtyard and spa terrace and community garden courtyard. Cityview partnered with AC Martin, WPIC Construction and Nadia Geller Designs on the project.
LOS ANGELES — California Landmark Group has completed M1byCLG, a multifamily development in Los Angeles’ Silver Lake submarket. Located at 1221 Myra Ave., the property features 100 apartments that are 60 percent leased. The unit mix includes junior and traditional one-, two- and three-bedroom floor plans along with several co-living suites. Each apartment features floor-to-ceiling windows, stone countertops, stainless steel appliances, in-unit washers/dryers, walk-in showers and private patios. Common area amenities include a fitness center, co-working space, and a rooftop deck with pool, spa, barbecues and unobstructed views of the Hollywood Hills. The six-story structure is built over a subterranean garage with parking and a lobby. PK Architecture provided design services for the development.
CONCORD, CALIF. — CBRE has brokered the sale of California Villas, an apartment community in Concord. A private buyer acquired the asset from a local private investor for $9.1 million. Located at 1621 Detroit Ave., California Villas features 23 one-bedroom units and 12 two-bedroom units, all of which have air conditioning with private balconies or patios. Built in 1966, the 24,958-square-foot property is situated on 0.91 acres. Community amenities include a pool, coin-operated laundry facility and a gated access. Nearly 70 percent of the units received significant interior upgrades, including new cabinets, vinyl plank flooring, granite countertops and stainless steel appliances. Recent exterior improvements include repair/replacement of all balconies, rebuilt patios, new paint/light fixtures and a renovated parking area. Keith Manson, Zachary Greenwood and Mac Watson of CBRE represented the seller in the transaction.
OXNARD, CALIF. — Los Angeles-based Primestor Development has acquired Esplanade Shopping Center, a grocery-anchored retail center in Oxnard, for $90 million. The 357,000-square-foot center was 94 percent leased at the time of sale. Current tenants include Home Depot, Nordstrom Rack, Staples, Dick’s Sporting Goods, TJ Maxx, Walmart Neighborhood Market, Cost Plus World Market, Tilly’s, Boot Barn, In-N-Out Burger and BJ’s Brewery and Restaurant.
LOS ANGELES — CBRE has secured $36.4 million in post-acquisition financing for TRC to recapitalize the purchase of La Canada Flintridge Town Center in Los Angeles. Target anchors the 115,939-square-foot property. At the time of financing, the center was 96.7 percent occupied by a mix of tenants, including HomeGoods, Panera Bread, Habit Burger and Taylor’s. Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE’s Capital Markets Debt and Structured Finance assisted in securing the seven-year, full-term interest-only loan on behalf of TRC.
LOS ANGELES — Rick Raymundo and Ben Savoy of Marcus & Millichap has brokered the sale of a six-unit apartment building, located at 6645 Farmdale Ave. in the North Hollywood neighborhood of Los Angeles. The asset traded for $1.7 million, or $283,333 per unit. Raymundo and Savoy represented the undisclosed buyer and undisclosed seller in the deal.
LONG BEACH, CALIF. — California State University, Long Beach (CSULB) has broken ground on La Playa Residence Hall, a 108,000-square-foot student housing project in Long Beach, located on the coast south of Los Angeles. Designed by Perkins&Will, the project is part of the State of California’s Higher Education Student Housing Grant Program, which aims to increase below-rate rental options for students living on campus. La Playa Residence Hall will add 424 beds to CSULB’s Hillside Housing village. The $115 million project will consist of three five-story buildings each surrounded by outdoor amenities, including patios, dining areas, a welcome plaza and central lawn. Upon completion, the community will offer a mix of single- and double-occupancy student rooms with lounges, study areas and maintenance facilities on every floor. Each building will feature a kitchen on the ground floor, three apartments for staff or faculty, a 2,000-square-foot multipurpose room and music practice rooms. Additionally, the residence hall will feature two dedicated offices that will expand the University’s Counseling and Psychological Services program to provide support for students in need. Completion is slated for summer 2026, with first occupancy for students for 2026 fall semester.
SAN DIEGO — Wells Fargo’s Community Lending and Investment (CLI) group has provided a total of $57.9 million in financing for construction of La Sabila, an affordable housing community for seniors in San Diego. The borrower is Wakeland. CLI provided a $30.5 million construction loan and $27.4 million equity investment. The project will consist of 85 residential units reserved for low-income residents over age 55. Further details were not disclosed. Timothy McCann, Terence Cordero and Jessica Gonzalez of CLI arranged the financing.
CERES, CALIF. — Marcus & Millichap has arranged the sale of The Vineyard, an apartment property in Ceres, a suburb of Modesto. The asset traded for $32.6 million, or $153,774 per unit. Jon Mimms of Marcus & Millichap’s Fresno office represented the undisclosed seller and undisclosed buyer in the deal. Built in 1979, The Vineyard features 212 apartments, averaging 671 square feet, with open floor plans, large kitchen pantries and central heating and air conditioning. Community amenities include two swimming pools, five laundry rooms, covered parking, pathways and a walking and jogging trail.
