Tuesday, July 15, 2025
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JPI-Multifamily-Project-Torrance-CA
AcquisitionsCaliforniaDevelopmentMultifamilyWestern

CGI+ Sells Shovel-Ready Multifamily Development Site in Torrance, California for $40M

by Amy Works

LOS ANGELES — CGI+, a Los Angeles-based multifamily investment firm, has completed the disposition of a shovel-ready, 4.9-acre development site in Torrance to JPI for $40 million. The property is entitled for a six-story, 525-unit residential building, with 34 units reserved for residents earning less than 30 percent of the area median income. Designed by AC Martin, the planned development will offer floor plans ranging from studio to three-bedroom apartments. Residences will be connected by a series of walking paths leading to four distinct and separate micro-environments offering amenities including outdoor workspaces, barbecue and dining areas, a spa, children’s playground, pet park and fire pits. A 28,000-square-foot aerial central park on top of the project’s eight-story garage will offer 360-degree views from the Pacific Ocean to downtown Los Angeles. The rooftop park will feature a resort-style pool, coffee shop, clubhouse, indoor/outdoor gym, pickleball court and outdoor lounge spaces. Chris Gomez-Ortigoza and Tim Barden of Land Advisors Organization marketed the fully entitled development site on behalf of CGI+.

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1054-S-De-Anza-Blvd-San-Jose-CA
AcquisitionsCaliforniaOfficeWestern

Marcus & Millichap Brokers Sale of 31,701 SF Multi-Tenant Office Building in San Jose, California

by Amy Works

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of 1054 South De Anza Boulevard, a three-story multi-tenant office property in San Jose. The asset sold for $9.7 million. Yuri Sergunin, Vince Schwab and J.J. Taughinbaugh of Marcus & Millichap represented the undisclosed seller, while Simon Chen of Buffalo RE represented the undisclosed buyer in the deal. Constructed in 1985 on 1.2 acres, the 31,701-square-foot property features an atrium, elevator access and ample parking. At the time of sale, the building was 75 percent occupied.

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Elk-Grove-Village-Elk-Grove-CA
AcquisitionsCaliforniaRetailWestern

Brixton Capital Buys Portion of Elk Grove Village Shopping Center in California

by Amy Works

ELK GROVE, CALIF. — Brixton Capital has purchased four parcels of the Elk Grove Village shopping center from Elk Grove Village LLC (Mima Capital LLC) for $10.6 million. The neighborhood retail center is located at 8511-8591 Elk Grove Blvd. in Elk Grove, approximately 15 miles south of Sacramento. At the time of sale, the property was fully leased. Current tenants include Arby’s, Macque’s BBQ, Plaza del Sol restaurant and Papa Murphy’s Pizza. Over the next five years, Brixton plans to make improvements to the center, which was built between 1984 and 1988. Randy Getz of CBRE represented the seller, while Brixton Capital was self-represented in the transaction.

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WestEnd25
AcquisitionsCaliforniaDistrict of ColumbiaMultifamilySoutheastTop StoriesWestern

JRK Property Holdings Acquires Two Apartment Communities in Los Angeles, Washington, D.C. for $315M

by Abby Cox

LOS ANGELES AND WASHINGTON, D.C. — Los Angeles-based JRK Property Holdings has acquired two apartment communities totaling 684 units, Chase Knolls in Los Angeles and WestEnd25 in Washington, D.C., in two separate transactions for a combined total of $315 million. Located on 14 acres in the Los Angeles neighborhood of Sherman Oaks, Chase Knolls is a 401-unit garden-style community that encompasses nearly two city blocks. The property was originally built in 1949 to include 260 Art Deco-inspired apartment homes across 19 one- and two-story residential buildings. In 2021, a new clubhouse and resort-style swimming pool were integrated into the community, along with 141 new units that were constructed to occupy six additional residential buildings. JRK also plans to make further enhancements to the complex to improve the community amenities and common areas.  According to Cushman & Wakefield, which marketed the property for sale on behalf of the undisclosed seller, Chase Knolls is one of only 12 apartment communities exceeding 100 units built in Sherman Oaks over the past 75 years, a testament to the significant development hurdles in the area, such as limited land and high barriers to entry. The second property, WestEnd25, is a 283-unit high-rise apartment community that …

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ANOVA-Aggie-Square-Sacramento-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

GMH, Wexford Complete 252-Bed Student Housing Project Near UC Davis, Sacramento Campus

by Amy Works

SACRAMENTO, CALIF. — A joint venture between GMH Communities and Wexford Science & Technology has completed ANOVA Aggie Square, a 252-bed development located on Stockton Boulevard near the University of California, Davis (UC Davis) campus in Sacramento. The community offers 190 units in a mix of studio, one-, two- and four-bedroom configurations. Shared amenities include a 2,500-square-foot fitness center with yoga and spin studios; soundproof office pods and private conference rooms; a coffee bar; wellness lounge with a sauna and massage chairs; 24-hour package system; game room with billiards; and an amenity patio with grilling stations. UC Davis Student Housing and Dining Services master leases 49 of the units and leases them at below-market rates. Priority for occupancy of these units is given to first-year medical, nursing and graduate students studying on the Sacramento campus. The remaining units are available for lease via GMH Communities, which operates the property, with priority given to university students, faculty and staff. The community was constructed during Phase I of Aggie Square, a larger mixed-use project that is set to include state-of-the-art research facilities and office space. 

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Bay-Bridge-Center-San-Diego-CA
AcquisitionsCaliforniaIndustrialMixed-UseOfficeWestern

Juniper Ridge Partners Buys Five-Building Flex Property in San Diego for $10.4M

by Amy Works

SAN DIEGO — Juniper Ridge Partners has acquired Bay Bridge Center in San Diego from Jon and Donna Stockholm Trust for $10.4 million. Located at 1943-1995 Main St., Bay Bridge Center offers 38,300 square feet of mixed-use flex space. The five-building, multi-tenant asset is situated on 2.1 acres in San Diego’s Harbor/Downtown submarket. At the time of sale, Bay Bridge Center was fully leased to six tenants, including San Diego County Schools and Wrensilva, a high-end audio manufacturer. The property features 400 feet of frontage on Main Street and Harbor Drive, secure yard areas and proximity to a San Diego Trolley stop with immediate access to Interstate 5. Chris Holder, Mark Lewkowitz and Will Holder of Colliers represented the buyer and seller in the deal.

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Scripps Memorial La Jolla
CaliforniaDevelopmentHealthcareTop Stories

Scripps Health Completes Development of $664M Hospital Tower in San Diego

by Hayden Spiess

SAN DIEGO — Locally based health system Scripps Health has completed the development of a new hospital located in the La Jolla neighborhood of San Diego. Construction costs totaled $664 million.  Dubbed Scripps Memorial Hospital La Jolla North Tower, the building totals 420,000 square feet across eight floors. The property is situated on the Scripps Memorial Hospital La Jolla campus, about 15 miles north of downtown San Diego. Designed by HGA Architects, the hospital building features 188 inpatient beds, a rooftop helistop, nine operating rooms, three interventional radiology suites, expanded imaging capabilities, a NICU (neonatal intensive care unit), labor and delivery section and postpartum services.  McCarthy Building Cos. served as the general contractor for the tower, which is directly connected to the Prebys Cardiovascular Institute, also constructed by McCarthy.  According to Scripps Health, the tower was planned and constructed over eight years. Financing for the project included a $2.5 million gift from philanthropist Barbara Smith.  Scripps Health, a $5 billion not-for-profit health system, operates four hospitals on five campuses.  — Hayden Spiess

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Citron-Apts-Anaheim-CA
AcquisitionsCaliforniaMultifamilyWestern

MG Properties Acquires Citron Apartments in Anaheim, California for $144M

by Amy Works

ANAHEIM, CALIF. — MG Properties has purchased Citron Apartments, a multifamily community located at 901 E. South St. in Anaheim, for $144 million. Built in 2023, the four-story Citron features 314 apartments with modern finishes and upscale amenities. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing for the transaction through Freddie Mac. With this acquisition, MG has added 17 properties to its portfolio over the past 12 months, totaling more than $2.1 billion.

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Hillcrest-Apts-Thousands-Oaks-CA
CaliforniaDevelopmentLoansMultifamilyWestern

Affinius Capital Provides $54.7M Preferred Equity for Multifamily Project in Southern California

by Amy Works

THOUSAND OAKS, CALIF. — Affinius Capital has provided $54.7 million of preferred equity for the ground-up development of Hillcrest Apartments, a project The Latigo Group is developing in Thousand Oaks. The four-story property will feature ground-floor retail space and 333 units in a mix of one-, two- and three-bedroom floor plans. Amenities will include a rooftop terrace, pool, fitness center, coworking spaces, a multi-sport simulator and wellness center with a sauna and cold plunge. Latigo estimates the project will be complete by the first quarter of 2028. Bercut Smith of JLL arranged the financing.

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AcquisitionsCaliforniaIndustrialWestern

Terreno Realty Acquires Industrial Facility in Santa Ana, California for $49.5M

by Amy Works

SANTA ANA, CALIF. — Terreno Realty has purchased an industrial building located at 3500 W. MacArthur Blvd. in Santa Ana from an undisclosed seller for $49.5 million. Situated on 12 acres, the 134,000-square-foot property features seven dock-high and three grade-level landing positions. At the time of sale, the facility was fully occupied by a major home improvement retailer and operated as a retail location.

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