Western

Joint Venture Acquires 122-Unit Seniors Housing Community in San Diego

by Amy Works November 2, 2026

SAN DIEGO — A joint venture between a private equity group and a local operator has acquired Canyon Villas, a 122-unit seniors housing community located in the Clairemont neighborhood of San Diego. The San Diego Christian Foundation sold the property for an undisclosed price. Constructed in 1991, the community features independent living, assisted living and memory care residences. Amenities at the property include a courtyard, library, gazebo, activity room and transportation services. Hap Knowles, Nick Stahler and Michael Mooney of Marcus & Millichap brokered the sale on behalf of the seller. Though the sales price was not disclosed, a board member of the San Diego Christian Foundation said in a statement that the deal closed at a price that was “nearly 50 percent more than other brokers thought possible.”

November 2, 2026

Acquisitions California Retail Western

Coastal Commercial Arranges Sale of Historic Balboa Theater in Newport Beach, California

by Amy Works November 2, 2026

NEWPORT BEACH, CALIF. — Coastal Commercial has brokered the sale of Balboa Theater, a nearly century-old landmark theater located at 707 E. Balboa Blvd. in Newport Beach. A local family office sold the asset to a local private real estate investor for an undisclosed price. The new owner plans to restore the theater, which originally opened in 1928 as Ritz Theater. The theater ultimately closed in 1991 and despite previous restoration efforts, the property has remained closed for approximately 35 years. Coastal Commercial represented the seller, while Christian Emerson of The Oppenheim Group represented the buyer in the transaction.

November 2, 2026

California Development Multifamily Western

Lewis Apartments Opens 208-Unit Community in West Sacramento

by Amy Works October 30, 2026

WEST SACRAMENTO, CALIF. — Lewis Apartments, the multifamily development and management arm of Upland, Calif.-based Lewis Group of Cos., has completed and opened Independence, a 208-unit rental townhome community in the Southport area of West Sacramento. The community comprises two- and three-bedroom units ranging from approximately 1,176 to 1,722 square feet, with private entrances, direct-access one- and two-car garages and private outdoor living spaces. Amenities include a heated pool and a hot tub area with cabanas, a 24-hour fitness center, pickleball courts, outdoor barbecue and gathering areas, a fire table, dog park and spa, package lockers and a borrow-a-bike program. Independence in West Sacramento is Lewis’ second Independence-branded development in Northern California, following on the heels of Independence in Dixon, which opened in 2025. Lewis plans to expand the Independence concept to additional Northern California markets, with future communities planned in Folsom, Vacaville, Fairfield, Newark and other locations.

October 30, 2026

Acquisitions Colorado Restaurant Retail Western

Core Acquisitions, Midloch Investment Buy Shopping Center Near Denver for $30.2M

by Amy Works October 30, 2026

LAKEWOOD, COLO. — Deerfield, Ill.-based Core Acquisitions and Chicago-based Midloch Investment Partners have acquired Lamar Station Plaza, a regional shopping center in Lakewood, approximately five miles west of downtown Denver. An undisclosed seller sold the asset for $30.2 million. Lamar Station Plaza features 271,632 square feet of retail space anchored by Casa Bonita, a Mexican restaurant and entertainment destination owned by “South Park” television show creators Trey Parker and Matt Stone. The 1,000-seat Casa Bonita features live entertainment with an indoor waterfall and cliff-diving pool and accommodates more than 650,000 visits annually. Additional tenants include Ross, Planet Fitness, Dollar Tree, Dutch Bros. and ARC Thrift Stores. At the time of sale, the property was 76 percent occupied. The buyers secured a new mortgage loan from Old National Bank for the purchase, which was brokered by Cushman & Wakefield. An affiliate of Core will manage the property, with Cushman & Wakefield handling leasing efforts. The new ownership plans to execute a targeted capital improvements program for the asset. Upgrades include an enhanced façade, upgraded signage, roof replacements, parking lot and landscaping upgrades and an increased focus on operations, including janitorial and sweeping services.

October 30, 2026

California Development Loans Multifamily Student Housing Western

Northmarq Arranges $24M in Construction Financing for Student Housing Project Near UC Berkeley

by Amy Works October 30, 2026

BERKELEY, CALIF. — Northmarq has arranged $24 million in construction financing for the development of 2372 Ellsworth Street, a 166-bed student housing community located at the corner of Ellsworth Street and Channing Way near the University of California, Berkeley campus. Briana DeHaan and Brandy Buttram of Northmarq secured the financing on behalf of an undisclosed borrower. The community will offer 49 units upon completion. Further details on the project were not announced.

October 30, 2026

Acquisitions California Retail Western

CBRE Brokers $18.3M Sale of Five Retail Properties in Eastvale, California

by Amy Works October 30, 2026

EASTVALE, CALIF. — CBRE has facilitated the $18.3 million sale of five retail properties at Eastvale Gateway South, a retail portfolio at 12464-12574 Limonite Ave. in Eastvale. Edward Matevosian, Cray Carlson and Jenny Eng of CBRE represented the seller in the transactions and also represented the multiple buyers. Situated on 5.4 acres and totaling 236,096 square feet, the transactions include:

October 30, 2026

UCHealth-Memorial-Hospital-North-Colorado-SpringS

Colorado Development Healthcare Top Stories Western

UCHealth Breaks Ground on $463M Healthcare Expansion Project in Colorado Springs

by Taylor Williams October 30, 2026

COLORADO SPRINGS, COLO. — University of Colorado Health (UCHealth) has broken ground on a $463 million expansion project at its Colorado Springs campus. The project will increase the size of the UCHealth Memorial Hospital North campus by more than 300,000 square feet, inclusive of a six-story inpatient tower, eight new operating rooms and an expanded emergency department. Approximately 45 percent of the new space will be built out for immediate use, while the remaining space will be shelled to accommodate future growth. In addition, the expansion will increase the hospital’s capacity from 140 beds to 190, initially adding 34 medical-surgical beds and 14 intensive care unit (ICU) beds. Lastly, the project includes the construction of a new parking garage with roughly 875 spaces for patients, visitors and staff, as well as renovations to the lobby, pharmacy, laboratory, kitchen and cafeteria of the main hospital building. Perkins & Will is the project architect, and JE Dunn is serving as the general contractor. Milwaukee-based investment and development firm Hammes is serving as UCHealth’s owner representative and project manager. A groundbreaking ceremony took place earlier in the month, and completion is slated for summer 2029. “Expanding an active hospital requires a careful balance …

October 30, 2026

California Development Loans Multifamily Western

Truist Provides $152M Construction Loan for Marina Shores Multifamily Project in Long Beach

by Amy Works October 29, 2026

LONG BEACH, CALIF. — Truist has closed a $152 million construction loan for Marina Shores, an apartment community at 6615 E. Pacific Coast Highway in Long Beach. Carmel Properties is developing the asset. The six-story project will convert an office complex and surface lot into a mixed-income community with 390 apartments and approximately 5,400 square feet of ground-floor retail space. Construction began in October, with completion slated for March 2029. Truist served as administrative agent and sole bookrunner on the development loan. Jason Paxton and Walt Reece led the transaction.

October 29, 2026

Arizona Development Multifamily Western

Origin Investments, Mill Creek Residential to Develop 190-Unit Apartment Community in Old Town Scottsdale

by Amy Works October 29, 2026

SCOTTSDALE, ARIZ. — Origin Investments and Mill Creek Residential have unveiled plans to develop Modera Old Town, a multifamily property in Old Town Scottsdale. Construction on the 190-unit property will begin in October, with completion slated for mid-2029. The new development is the second venture between Origin and Mill Creek Residential and is an expansion of Mill Creek’s Modera brand. Situated on 2 acres at 7120 E. Indian School Road, Modera Old Town will feature 73 one-, 101 two- and 16 three-bedroom apartments averaging 1,076 square feet. Apartment interiors will include stainless steel appliances, quartz countertops, tile backsplashes, vinyl-plank flooring, premium cabinetry, kitchen islands, undermount sinks, under-cabinet lighting, full-size washers/dryers, private patios or balconies, roller shades and smart home features. Community amenities will include a resort-style pool, an outdoor kitchen, poolside cabanas, lounge seating, and outdoor grilling and entertainment areas with a fire feature. Additional amenities will include a resident clubhouse, entertainment lounge, modern dining and bar space, a fitness center, coworking spaces and private conferences rooms. For Origin, Modera Old Town represents the final investment in its Opportunity Zone Fund III and its 22nd overall opportunity zone development. Modera Old Town is Mill Creek’s 12th opportunity zone development.

October 29, 2026

California Loans Retail Western

Gantry Secures $31M Refinancing for Value-Add Retail Property in Southern California

by Amy Works October 29, 2026

LANCASTER, CALIF. — Gantry has secured a $31 million permanent refinance for the Valley Central Shoppes, located at 44410-44690 Valley Central Way in Lancaster. Tony Kaufmann, Jake Davis and Ramza Zeiter of Gantry represented the borrower, a private real estate investor. The 10-year, fixed-rate, nonrecourse loan was secured from one of Gantry’s insurance company correspondents. Gantry will service the loan for the lender. The 174,000-square-foot inline center is part of a master-planned retail power center cluster and shadow anchored by a Walmart Supercenter and a Food 4 Less. Additional tenants includes Boot Barn, Staples, Marshalls, Five Below, Planet Fitness, Starbucks Coffee, Jersey Mike’s Subs, Black Angus Steakhouse, Ulta, Sally Beauty Supply, Lenscrafters, Calidental, America’s Tire Co. and additional entertainment, restaurant and necessities retailers.

October 29, 2026

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