Monday, June 22, 2026
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The-Presley-Apts-Las-Vegas-NV
DevelopmentMultifamilyNevadaUncategorizedWestern

CEDARst Cos. Begins Development of $82M Apartment Community in Las Vegas

by Amy Works

LAS VEGAS — CEDARst Cos. has broken ground on The Presley, an $82 million ground-up multifamily project in Las Vegas’ Medical District. Designed by Booth Hansen with OS Construction as general contractor, the seven-story, 275,000-square-foot community is slated to open in 2028. The Presley will feature 236 studio, one- and two-bedroom apartments, a fitness center, coworking lounge, golf simulator and a rooftop pool deck. A portion of the residences will be designated as affordable housing. The project is being financed by a $56 million construction loan provided by North River Partners and funds managed by AB CarVal. Berkadia arranged the financing.

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ColoradoDevelopmentMultifamilyWestern

McWhinney, Livmark Break Ground on $71M Multifamily Property in Longmont, Colorado

by Amy Works

LONGMONT, COLO. — McWhinney and Livmark Communities have broken ground on Mountain Brook Flats, a 200-unit apartment property in Longmont. The $71 million project will feature 10 three-story, 20-unit buildings offering one-, two- and three-bedroom apartments with high-quality finishes, oversized balconies and garage parking. Community amenities will include the Mountain Brook Clubhouse offering a pool with swim lanes, a splash pad, fitness center with yoga studios, outdoor fireplace and seating area, tavern lounge, tennis and pickleball courts and pocket parks that connect the community. Construction started this month, with lease-up slated to commence in 2027. Landmark Construction, a Livmark Communities affiliate company, will serve as the general contractor.

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CaliforniaLoansMixed-UseOfficeRestaurantRetailWestern

CBRE Arranges $57.6M Refinancing for First Street Napa Mixed-Use Property in California

by Amy Works

NAPA, CALIF. — CBRE has arranged $57.6 million in refinancing for First Street Napa, a Class A mixed-use property in downtown Napa. Brad Zampa and Mike Walker of CBRE’s Debt and Structured Finance team in San Francisco secured the five-year, nonrecourse floating-rate loan from an East Coast-based debt fund on behalf of NTC Shops LLC. Located at 1300 First St., the property features 162,000 square feet of retail, dining, tasting rooms and office space across six buildings. The asset is currently 90 percent leased to a variety of tenants, including Lululemon, Free People, Hestan and Silicon Valley Bank.

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1991-Broadway-Redwood-City-CA
AcquisitionsCaliforniaOfficeWestern

DivcoWest Buys 66,000 SF Office Building in Redwood City, California

by Amy Works

REDWOOD CITY, CALIF. — DivcoWest, a DivCore Capital company, has acquired 1991 Broadway, a three-story, 66,000-square-foot office building in downtown Redwood City, from an owner-user in an off-market transaction. Simultaneous with the closing, DivcoWest executed a 45,000-square-foot long-term lease with Paul Hastings, a global law firm, that will serve as the anchor tenant for the building. As a result of the Paul Hastings lease, the building was 82 percent leased to three tenants at closing. Ham Southworth, Ken Rapp and Morgan Griffith of CBRE represented Paul Hastings in the lease negotiations. Ben Paul of Cushman & Wakefield represented DivcoWest.

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AcquisitionsIndustrialMidwestOhio

ICP Acquires 408,000 SF Former True Value Hardware Distribution Facility in Westlake, Ohio

by Kristin Harlow

WESTLAKE, OHIO — Industrial Commercial Properties (ICP) has acquired the former True Value Hardware distribution facility at 26025 1st St. in Westlake, about 12 miles west of downtown Cleveland. The 408,000-square-foot property features a clear height of 25 feet and sits on 21.6 acres. ICP will transform the facility with advanced building systems, improved dock and loading areas and a modernized look. The updated space, available in the second quarter of 2026, will offer flexible layouts for industrial, manufacturing and distribution businesses. Joe Messina, David Stecker and Joe Warren of JLL helped facilitate the transaction and will continue as the leasing team.

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AcquisitionsAffordable HousingMidwestMinnesotaMultifamily

JLL Arranges Sale of 50-Unit Affordable Townhome Community in Northfield, Minnesota

by Kristin Harlow

NORTHFIELD, MINN. — JLL Capital Markets has arranged the sale and financing for Jefferson Square, a 50-unit HAP townhome community in Northfield, about 45 miles south of Minneapolis. The property sits on 5.2 acres and includes nine residential buildings, three parking structures and one administrative building. Amenities include private garages, a community lounge, picnic space, tot lot and media space. Josh Talberg and Joseph Peris of JLL represented the seller, Dominium Management, and procured the buyer, an investment firm specializing in affordable and workforce housing. The buyer plans to invest capital to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early of JLL led the debt advisory team.

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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Brokers $4M Sale of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the $4 million sale of 3060 W. Armitage Ave., a 13-unit apartment building in Chicago’s Logan Square neighborhood. Built in 2012, the property features a mix of one- and two-bedroom floor plans and one retail unit across 11,700 rentable square feet. Steve Rachman of Marcus & Millichap procured the buyer, a private investor, who plans to create value through light renovations and addressing deferred maintenance.

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AcquisitionsMidwestOhioRetail

Cooper Group Negotiates $3.1M Sale of Retail Center in Toledo, Ohio

by Kristin Harlow

TOLEDO, OHIO — The Cooper Commercial Investment Group has negotiated the $3.1 million sale of Jesse James Plaza, a multi-tenant retail center in Toledo. Dan Cooper represented the seller, a Midwest-based investment group. The asset sold to an all-cash buyer. Jesse James Plaza totals roughly 35,800 square feet and sits on 3.1 acres. FirstCash and Safelite are anchor tenants.

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Leasing ActivityMichiganMidwestRetail

Family Farm & Home to Backfill 30,000 SF Former Big Lots Space in Bay City, Michigan

by Kristin Harlow

BAY CITY, MICH. — Family Farm & Home will open a new location at 1001 N. Euclid Ave. in Bay City. The 30,000-square-foot space was formerly home to Big Lots. Peter Abro of Keystone Commercial Real Estate arranged the lease. Family Farm & Home is a Michigan-based company that offers farm supplies, home improvement tools and outdoor power equipment.

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Conference CoverageFeaturesMultifamilySoutheast Feature Archive

InterFace Panel: Tariffs Are a ‘Hot Potato’ When it Comes to Construction Costs

by Kristin Harlow

ATLANTA — In today’s multifamily development world, architects, designers and general contractors do everything in their power to avoid the one thing they dread most — going back to a developer mid-project to ask for more money. These “uncomfortable moments,” as Lori Ann Dinkins, president and CEO of Mood Interior Design, called them, happen more often these days thanks to rising costs, tariffs and collaboration snafus. Dinkins led a panel of architects, interior designers and general contractors through a bevy of topics — good, bad and ugly — that define the current state of building and designing apartments at InterFace Conference Group’s Multifamily Southeast event. The event took place over the course of two days at the InterContinental Buckhead in Atlanta. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Residents and developers alike are taking a more practical, less playful approach when it comes to stylizing apartments. Gone are the days of “those huge show-stopper, Instagram-moment amenity spaces,” said Ian Hunter, regional director at Atlanta-based Dwell Design Studio. “They’re out. And they’re out for a couple of reasons. Not …

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