PHOENIX — Neighborhood Ventures has purchased Venture on 16th, an 86-unit apartment property in the Biltmore District of Uptown Phoenix, from an undisclosed seller for $19.5 million. Venture on 16th features two-, three- and four-bedroom apartments, a resort-style pool with glass fencing, a clubhouse and fully equipped fitness center. Neighborhood Ventures plans to stabilize the property with long-term financing and align rents with market levels.
EL CAJON, CALIF. — Pacific Coast Commercial has arranged the sale of Pioneer Business Park, a multi-tenant industrial facility in El Cajon. Paradise Properties of East County LLC purchased the property from Brown Trust for $10 million. Situated on 2.5 acres at 150 Pioneer Way, the property offers 45,276 square feet of industrial space that is zoned M for manufacturing use. Ken Robak and Brian Crepeau of Pacific Coast Commercial handled the transaction on behalf of both the seller and buyer. Additionally, Pacific Coast Commercial will provide leasing and property management services for the property. Ticor Title Co.’s Church Team and Tonya Courtney handled escrow and title services.
OHIO — Greystone has provided a $46 million bridge-to-HUD loan for the refinancing of a two-property seniors housing portfolio in Ohio. Christopher Clare, David Young, Ben Rubin, Ryan Harkins, Parker Nielsen and Liam Gallagher of Greystone originated the financing. The portfolio includes 118 skilled nursing units, 16 memory care units, 232 assisted living units and 10 independent living units. The bridge loan enables the borrower to refinance the properties and position the assets for long-term, HUD-insured permanent financing.
FRIDLEY, MINN. — The Terrace Group has acquired River Tech Workplace in the Minneapolis suburb of Fridley. Midloch Investment Partners is the equity partner in the acquisition. The four-building flex industrial park totals 270,022 square feet and is situated on nearly 20 acres. Constructed in 1987, River Tech Workplace features a mix of spaces designed to accommodate tenants such as light industrial, service, technology and medical users. Bentley Smith of CBRE represented the undisclosed seller.
BIRMINGHAM, MICH. — Bernard Financial Group (BFG) has arranged a $29.5 million construction loan for a new mixed-use office property in Birmingham. Joshua Bernard of BFG arranged the loan on behalf of the borrower, 320 Investments LLC. A life insurance company provided the loan.
MINNESOTA, NORTH DAKOTA AND SOUTH DAKOTA — Marcus & Millichap has arranged the $18.7 million sale of an 11-property Sherwin-Williams retail portfolio in Minnesota, North Dakota and South Dakota. Dominic Sulo and Jon Ruzicka of Marcus & Millichap represented the Minnesota-based private seller and procured the Michigan-based institutional buyer. The properties are located in Bemidji, Duluth, Fergus Falls, Grand Rapids, Sartell, Minn.; Bismarck and Grand Forks, N.D.; and Sioux Falls, Tea and Watertown, S.D. They total approximately 55,590 rentable square feet. Prior to marketing efforts, Marcus & Millichap assisted the seller in securing 15-year lease extensions across the entire portfolio.
PIKESVILLE, MD. — Stevenson, Md.-based Quest Management Group has obtained a $75 million agency loan to finance the acquisition of The Worthington Apartments, a 612-unit multifamily community located in Pikesville, roughly 15 miles northwest of Baltimore. Jonathan Zilber and Joel Chetner of Walker & Dunlop arranged the 10-year, fixed-rate, nonrecourse loan. Situated at 7900 Brookford Circle, The Worthington comprises 21 three-story residential buildings across nearly 37.5 acres. The garden-style complex features one-, two- and three-bedroom floorplans ranging in size from 750 to 1,188 square feet, according to Apartments.com. Amenities include a swimming pool, playground, clubhouse, business center and a courtyard, as well as four garages.
BEAUFORT, S.C. — Colorado-based Spartan Investment Group has acquired three self-storage facilities totaling 1,710 units in Beaufort, a city in coastal South Carolina, for an undisclosed price. The seller was also not disclosed. The facilities include a 121,643-square-foot, 694-unit property at 481 Parris Island Gateway and a 77,270-square-foot, 632-unit property at 240 SC-128. The third asset is a 30,802-square-foot, 384-unit facility at 100 Lady’s Island Commons. Totaling 229,715 rentable square feet, the newly acquired self-storage facilities represent Spartan’s first acquisitions in 2026.
SAVANNAH, GA — Bethesda, Md.-based Greysteel has arranged construction financing for a dual-branded, 146-room SpringHill Suites and TownePlace Suites Marriott hotel in Savannah. Greysteel secured the loan on behalf of Arya Hospitality, a Savannah-based developer. An Atlanta-based regional bank provided financing for the project. Further details of the transaction were not disclosed, but a source familiar with the transaction said the loan amount was north of $15 million.
LINTHICUM HEIGHTS, MD. — SRS Real Estate Partners has completed the lease-up of a newly developed, 10,576-square-foot retail center in Linthicum Heights, just south of Baltimore and immediately adjacent to the Baltimore-Washington International Thurgood Marshall Airport (BWI). Situated at 1709-1713 W. Nursery Road, the retail center is now home to Paris Baguette, Buffalo Wild Wings GO (BWW GO), Sardi’s Peruvian Chicken, Tropical Smoothie Café and Jersey Mike’s Subs. Arris Noble and Rachel Callender of SRS Real Estate Partners represented the landlord, a Washington, D.C.-based private investor and developer, in the lease negotiations.
