Sunday, July 26, 2026
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3030-Nebraska-Ave-Santa-Monica-CA
CaliforniaLoansMultifamilyWestern

Madison Realty Capital Provides $150M Loan for Los Angeles-Area Multifamily Portfolio

by Amy Works

SANTA MONICA, GRANADA HILLS AND CANOGA PARK, CALIF. — Madison Realty Capital has originated $150 million in financing for a Los Angeles-area multifamily portfolio consisting of six communities in Santa Monica, Granada Hills and Canoga Park, as well as a large-scale multifamily development site in Santa Monica. WS Communities, a developer and repeat MCR borrower, is the sponsor. WS Communities plans to use the funding to replace the existing debt and finalize the business plan for the properties, including: Renovation of four multifamily properties at 1007 Lincoln Blvd., 1038 10th St., 1516 Stanford St. and 1433 Euclid St. in Santa Monica Development of a large-scale multifamily project on two sites at 3030 Nebraska Ave. and 3025 Olympic Blvd. in Santa Monica Renovation of two multifamily properties at 11611 Blucher Ave. in Granada Hills and 7810 Topanga Canyon Blvd. in Canoga Park. Avison Young’s Justin Piasecki, Jay Maddox and Ethan Blum brokered the loan deal, with RST Capital Partners’ Rahim Thobani advising on the transaction.

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AlabamaDevelopmentMixed-UseSoutheast

Orchestra Partners Breaks Ground on Mixed-Use Project in Downtown Birmingham

by Alex Tostado

BIRMINGHAM, ALA. — Orchestra Partners has broken ground on Mercantile on Morris, a mixed-use project in downtown Birmingham. Located at 2212 Morris Ave., the property will feature 47 residential units and 14,000 square feet of commercial space, as well as a pedestrian thoroughfare with storefronts connecting First Avenue North and Morris Avenue. Birmingham-based Retail Specialists is handling the commercial leasing effort, which includes spaces ranging from 500 to 1,800 square feet. There is also a 2,100-square-foot space available on the second floor for a restaurant anchor. Orchestra Partners expects to complete Mercantile on Morris in November.

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2827-Whiptail-Loop-W-Carlsbad-CA
AcquisitionsCaliforniaIndustrialLife SciencesWestern

BLT Enterprises Acquires Industrial Life Sciences Facility in Southern California for $40.4M

by Amy Works

CARLSBAD, CALIF. — BLT Enterprises has purchased an industrial life sciences property located at 2827 Whiptail Loop West in Carlsbad. RPG sold the asset for $40.4 million. Completed in 2019, the 146,100-square-foot property features 30-foot clear heights, eight dock-high doors, four grade-level doors, 4,000 amps of power, Grade B, C, D classification clean rooms, a dedicated lab exhaust system, a vacuum pump system and a PH neutralization system. SAFC Carlsbad Inc. fully occupies the property. The tenant is a subsidiary of Merck KGaA, a multinational pharmaceutical, life sciences, research and development company headquartered in Darmstadt, Germany.

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AcquisitionsArizonaMultifamilyWestern

CORE Real Estate Capital, Rincon Capital Partners Buy Woodridge Apartments in Tucson

by Amy Works

TUCSON, ARIZ. — CORE Real Estate Capital and Rincon Capital Partners have acquired Woodridge Apartments, a multifamily property located at 8225 E. Speedway Blvd. in Tucson. Terms of the transaction were not released. Built in 1981 on 6.2 acres, the community features 204 apartments. At the time of sale, the property was more than 95 percent occupied. Over the next two years, the new owners plan to rebrand the property and invest up to $3.6 million to remediate deferred maintenance, renovate common areas, upgrade interiors and improve landscaping.

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DevelopmentFloridaMultifamilySoutheast

Wendover Housing Partners Opens $19M Residential Community in Central Florida Intended for Veterans, Homeless

by Alex Tostado

SANFORD, FLA. — Wendover Housing Partners has opened Warley Park, a $19 million, 81-unit housing complex in Sanford that was built to house veterans and the chronically homeless. Communal amenities include a fitness center, splash park, meeting rooms, computer rooms and a commercial kitchen to train residents for restaurant jobs. California-based nonprofit Step Up on Second will manage support services, including mental healthcare, after-school kids’ programs, job training and placement, GED classes and educational programs for ongoing skills. Residents utilize rental vouchers as payment, just as they would at other rental properties or motels. The property is located at 1500 W. 25th St., 22 miles north of downtown Orlando.

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6000-Grant-Ranch-Blvd-Littleton-CO
AcquisitionsColoradoNet LeaseRetailWestern

Stan Johnson Arranges $2.4M Sale of Childhood Education Facility in Littleton, Colorado

by Amy Works

LITTLETON, COLO. — Stan Johnson Co. has brokered the sale of a retail property located at 6000 Grant Ranch Blvd. in Littleton. A California- and Colorado-based family partnership sold the property to BAF Associates, a Maryland-based private investor, for $2.4 million. Knowledge Beginnings, one of several brands under the KinderCare Education group, occupies the single-tenant, 10,400-square-foot property on a net-lease basis. Kelly Largent of Stan Johnson Co. represented the buyer, while Mike Matter and Milo Spector of Stan Johnson Co. represented the seller in the transaction.

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41800-W-Maricopa-Casa-Grande-Hwy-Maricopa-AZ
AcquisitionsArizonaNet LeaseRetailWestern

Marcus & Millichap Brokers $2.1M Sale of Big 5 Sporting Goods-Occupied Retail Building in Arizona

by Amy Works

MARICOPA, ARIZ. — Marcus & Millichap has arranged the sale of a retail property located at 41800 W. Maricopa-Casa Grande Highway in Maricopa. A limited liability company sold the building to undisclosed buyer for $2.1 million. Big 5 Sporting Goods occupies the property on a net-leased basis. Mark Ruble, Chris Lind and Jamie Medress of Marcus & Millichap represented the seller in the deal.

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JC-Penney-Aventura-Florida
Company NewsRetailTexas

J.C. Penney Cuts 1,000 Jobs, Begins Talks With Potential Buyers

by Taylor Williams

PLANO, TEXAS — J.C. Penney Co. announced on Wednesday that it would reduce its workforce by approximately 1,000 corporate, field management and international positions as part of its store optimization and restructuring plan. The Plano-based retailer, which employs about 90,000 people worldwide, filed for Chapter 11 bankruptcy in May and announced plans to close about 150 stores two weeks later. According to CNBC, J.C. Penney has reached an agreement with its creditors to extend submission of its new business plan and identify potential investors in the business. The network reports that mall developers Simon Property Group and Brookfield Properties are both in talks to buy the 118-year-old retailer, as are Sycamore Partners and Authentic Brands, the respective parent companies of department stores Belk and Barneys.

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DevelopmentDistrict of ColumbiaRetailSoutheast

Whole Foods Market to Open 46,000 SF Store in Northern D.C. on July 23

by Alex Tostado

WASHINGTON, D.C. — Whole Foods Market will open a new location July 23 in Washington, D.C. The new 46,000-square-foot grocery store will be situated at 967 Florida Ave. NW in D.C.’s Pleasant Plains neighborhood, less than two miles north of downtown D.C. and less than one mile from Howard University. The new store will offer a full-service butcher, bakery, produce department and a seafood counter. Amazon Prime members who shop at the location will have access to two-hour delivery on certain items, as well as a 10 percent discount on several in-store items.

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AcquisitionsGeorgiaMultifamilySoutheast

Fogelman Properties, DRA Advisors Acquire 334-Unit Multifamily Community in Metro Atlanta

by Alex Tostado

LITHIA SPRINGS, GA. — A joint venture between Fogelman Properties and DRA Advisors has acquired Fields Waterford Point, a 334-unit multifamily community in Lithia Springs. The buyer plans to renovate all unit interiors and communal spaces, as well as rebrand the property as 670 Thornton. The property offers one-, two- and three-bedroom floor plans with rents ranging from $750 per month to $1,300. Communal amenities include a business center, pool, tennis court, pond and a fitness center. The asset, which was built between 1989 and 1992, is located at 670 Thornton Road, 15 miles west of downtown Atlanta. The seller and sales price were not disclosed.

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