Western

Marcus & Millichap Brokers $22M Sale of Mixed-Use Property in Pasadena, California

by Amy Works July 14, 2026

PASADENA, CALIF. — Marcus & Millichap has brokered the $22 million sale of 119 S. Los Robles Avenue, a mixed-use building in Pasadena. A company doing business as MLT VII LLC sold the asset to an undisclosed funding investment corporation. Built in 2015, the five-story property features 50 condominiums and 3,700 square feet of retail space. All units offer central air conditioning and heating, washer and dryer connections and stained concrete flooring. The controlled-access property features gated parking and an enclosed mail room. Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Mililchap represented the seller in the transaction. Azzi and Banafsheha also collaborated with Arteen Zahiri and Ian Habbestad of Marcus & Millichap to procure the buyer.

July 14, 2026

California Development Industrial Western

Panattoni Development Co. Completes 95,000 SF Amazon Delivery Station in Redding, California

by Amy Works July 14, 2026

REDDING, CALIF. — Panattoni Development Co. has completed a 95,000-square-foot Amazon delivery station within Stillwater Business Park in the Northern California town of Redding. The logistics space is located at 5855 Venture Parkway. Panattoni worked in coordination with Shasta Economic Development Corp. and the City of Redding to deliver the facility within Stillwater Business Park.

July 14, 2026

Acquisitions California Company News Indiana Midwest Multifamily Top Stories Western

Milhaus Completes Merger With SRG Residential, Agrees to Acquire Broadshore Capital

by John Nelson July 14, 2026

INDIANAPOLIS AND LOS ANGELES — Milhaus, a multifamily developer and operator based in Indianapolis, has completed its merger with SRG Residential, a subsidiary of Sares Regis Group based in Newport Beach. The combined company totals 1,400 employees and includes 50,000 apartments under management — 46,000 of which come from 190 properties managed by SRG Residential — as well as a development pipeline exceeding $2.5 billion. The combined company, which will be operated under the Milhaus platform, plans to start eight development projects this year totaling more than 2,000 new units in Southern California, Denver and Phoenix, giving Milhaus a presence in more than 20 markets across the country. Chris Payne, former CEO of SRG Residential, joins Milhaus as both the chief development officer and a shareholder. Jeff Bailey, president of property management at SRG Residential and a shareholder, now leads the property management group at Milhaus. “This partnership is a natural fit,” says Tadd Miller, CEO of Milhaus. “SRG Residential brings a best-in-class, high-touch approach to property management and operations along with a quality development pipeline and seasoned leadership, while Milhaus contributes a high-quality owned portfolio and disciplined development and capital markets infrastructure.” “We are unlocking powerful synergies and long-term opportunities …

July 14, 2026

Colorado Development Loans Multifamily Western

Concord Summit Capital Arranges $115.5M Construction Loan for Multifamily Development in Fort Collins, Colorado

by Amy Works July 13, 2026

FORT COLLINS, COLO. — Concord Summit Capital has arranged a $115.5 million construction loan for Collins at Union Park, an apartment community in northern Colorado. Daniel Eidson, Keegan Burger and Ben Applebaum of Concord Summit Capital secured the nonrecourse loan, which features an 88 percent loan-to-cost ratio, on behalf of the borrower, Livmark Communities. Sitework is currently underway on the project, with vertical construction slated to start in the coming days. Collins at Union Park will feature 457 apartments and carriage homes, as well as a clubhouse, pool, golf simulator, playground, parks, trails and gathering spaces.

July 13, 2026

California Development Multifamily Western

SummerHill Breaks Ground on 251-Unit Multifamily Property in San Carlos, California

by Amy Works July 13, 2026

SAN CARLOS, CALIF. — SummerHill Apartment Communities has broken ground on 11 El Camino Real, a 251-unit multifamily community situated on 2.2 acres in San Carlos, located about 23 miles south of San Francisco. Completion is slated for 2028. SummerHill is a subsidiary of Marcus & Millichap and is based in Palo Alto, Calif. Designed by KTGY, the project will feature studio through three-bedroom floor plans, and 38 affordable units will be reserved for a variety of income levels. Community amenities will include a pool, hot tub, landscaped courtyards, clubroom, fitness center, leasing office, resident lounge, bike room and mail room. The community is within about 1 mile of two Caltrain stations with commuter service throughout the Bay Area.

July 13, 2026

Acquisitions California Office Retail Western

NAI Capital Arranges $10.8M Sale of 24,670 SF Educational Facility in Irvine, California

by Amy Works July 13, 2026

IRVINE, CALIF. — NAI Capital Commercial has arranged the $10.8 million sale of 17872 Cowan, an educational facility in Irvine. Orange County Music & Dance (OCMD) acquired the property for $438 per square foot. The 24,670-square-foot facility will nearly double the nonprofit performing arts school’s instructional space, which includes OCMD’s existing campus at 17620 Fitch. Slated to open in November, the Cowan campus will feature five dance and rehearsal studios, 10 teaching studios, six music rehearsal rooms, a keyboard lab, advanced music production studio and flexible recital and performance spaces. The expansion will also support new early childhood, conservatory, world music and adult education programs. John Bosko of NAI Capital Commercial’s Investment Services Group represented the buyer in the deal. The name of the seller was not released.

July 13, 2026

Acquisitions California Industrial Western

All Access Rentals Buys 34,663 SF Industrial Property in North Hollywood

by Amy Works July 13, 2026

LOS ANGELES — All Access Rentals has purchased a 34,664-square-foot industrial property located at 11640 Hart St. in the North Hollywood neighborhood of Los Angeles. The sales price was $7.8 million. Chris Nelson, Jacob Castro and Ben Turner of Matthews brokered the deal. The name of the seller was not released. The property features M2 zoning, clear heights ranging from 24 feet to 38 feet, three grade-level loading doors and a secured fenced yard. All Access Rentals, a construction equipment rental company, will use the property to expand its footprint into the Los Angeles market.

July 13, 2026

Acquisitions Multifamily Washington Western

Goodman Real Estate Sells Two Apartment Communities Near Seattle for $172M

by Amy Works July 10, 2026

SEATTLE AND REDMOND, WASH. — Goodman Real Estate has sold two multifamily properties near Seattle for a combined total of $172 million. Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE represented the Seattle-based seller in both transactions. Each property was developed in 2024 and sold to undisclosed buyers. CRU at Willows 124 in Redmond traded for $94 million. The 195-unit, six-story building sits on 1.6 acres within a master-planned community adjacent to Willows Run Golf Club and includes 22,998 square feet of fully leased commercial space across three suites. The property features a mix of studio, one- and two-bedroom floor plans along with a rooftop terrace, three clubhouses, fitness center, two work-from-home lounges and a basketball court. Baldwyn Apartments is a 235-unit property located at 10712 5th Ave. NE in Seattle’s Northgate neighborhood, adjacent to the site of Simon Property Group’s Northgate Station redevelopment. Northgate Station is a 55-acre mixed-use project that includes the Kraken Community Iceplex and additional retail spaces that will be opening through 2028.

July 10, 2026

1138-S-Valley-Grove-Way-Pleasant-Grove-UT

Development Hospitality Utah Western

Ball Ventures, B&T Hospitality Open 143-Room Dual-Branded Hotel in Pleasant Grove, Utah

by Amy Works July 10, 2026

PLEASANT GROVE, UTAH — Ball Ventures and B&T Hospitality have opened a 143-room dual-branded hotel in Pleasant Grove, located north of Provo. The hotel, which carries the Tru by Hilton and Home2 Suites by Hilton brands, is located at 1138 S. Valley Grove Way within the 128-acre Valley Grove mixed-use business community that is being developed by Baltimore-based St. John Properties Inc. The Tru by Hilton features 68 guestrooms, and the Home2 Suites offers 75 suites. Shared amenities include a heated outdoor pool and hot tub, 24-hour fitness center and outdoor fire pits. Both hotels offer daily complimentary breakfast, free parking, business center and meeting rooms.

July 10, 2026

Acquisitions Multifamily Utah Western

Gelt Venture Partners Buys 117-Unit Drexler Townhomes in Lehi, Utah

by Amy Works July 10, 2026

LEHI, UTAH — Gelt Venture Partners (GVP) has purchased Drexler Townhomes, a Class A townhome community located south of Salt Lake City. The original developer sold the property for an undisclosed price in an off-market transaction. Completed in 2023, Drexler features 117 two-, three- and four-bedroom townhome units averaging 1,705 square feet with attached two-car garages and private driveways. The property is located on 10.8 acres at 2790 N. Segundo Drive. The original developer completed the conversion of 24 unfinished basements into fourth bedrooms, and GVP plans to finish 35 additional basement bedroom conversions.

July 10, 2026

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