Property Type

Sares Regis Sells 195-Unit Celeste Apartments in South San Francisco

by Amy Works July 30, 2026

SAN FRANCISCO — Sares Regis Group of Northern California, along with an institutional equity partner, has sold the 195-unit Celeste Apartments in South San Francisco. North Carolina-based Bell Partners purchased the property on behalf of its Bell Growth & Income Fund investors. The new owner will rename the asset, located at 401 Cypress Ave., to Bell South City II. Terms of the acquisition were not released. Completed in 2024, the eight-story multifamily building features studio, one- and two-bedroom apartments, a fitness loft and secure EV parking. At delivery, the property was 95 percent occupied. Berkadia represented the seller in the transaction.

July 30, 2026

Arizona Development Industrial Western

Partnership Completes Nexus Commerce Center Industrial Park in Tempe, Arizona

by Amy Works July 30, 2026

TEMPE, ARIZ. — Local developer Creation, in partnership with CrossHarbor Capital Partners and Amherst, has completed Nexus Commerce Center, a Class A industrial park located at the intersection of Elliot Road and Hardy Drive in Tempe. Situated on a 16-acre site that was once home to Elliot Corporate Center, the redevelopment converted the vacant 200,000-square-foot office property into a three-building, 273,000-square-foot, shallow-bay industrial park. Designed and built by LGE Design Build, the buildings range in size from 88,773 to 103,288 square feet and feature 32-foot clear heights. Nexus Commerce Center also offers direct access to I-10 and Loop 101 via Elliot Road and proximity to the US-60 interchange and Phoenix Sky Harbor International Airport. Mike Haenel, Andy Markham, Phil Haenel and Justin Smith of Cushman & Wakefield are handling leasing efforts for the project.

July 30, 2026

California Industrial Loans Self-Storage Western

Talonvest Capital Arranges $45M Refinancing for Self-Storage Facility in Goleta, California

by Amy Works July 30, 2026

GOLETA, CALIF. — Talonvest Capital has arranged a $45 million senior bridge loan to refinance a self-storage property owned by 1784 Holdings, a national self-storage owner and developer. Located in Goleta, the property comprises 95,523 net rentable square feet across 972 climate-controlled self-storage units. Extra Space Storage manages the asset. Tom Sherlock, Kim Bishop, Nathan Lefevre and Mason Brusseau of Talonvest arranged the financing, which features a bridge loan with a three-year initial term and two one-year extension options.

July 30, 2026

Acquisitions Affordable Housing California Multifamily Western

Marcus & Millichap Brokers $12.5M Sale of Affordable Seniors Housing Property in Southern California

by Amy Works July 30, 2026

LA MESA, CALIF. — Marcus & Millichap has brokered the $12.5 million sale of Guava Gardens, an affordable seniors housing property in La Mesa. Los Angeles-based Positive Investments was the buyer. Built in 1986, the property totals 81 units, with 40 studio apartments and 41 one-bedroom apartments. Residences are reserved for seniors aged 62 and older. Amenities at the community include a pool, spa, recreation room, outdoor gathering areas, laundry facilities and dedicated parking. Christopher Zorbas, Graeme Henderson and Austin Huffman of Marcus & Millichap represented the undisclosed seller in the transaction.

July 30, 2026

Development Florida Hospitality Southeast

Terra, Turnberry Top Out 17-Story Grand Hyatt Miami Beach Hotel

by John Nelson July 30, 2026

MIAMI BEACH, FLA. — Terra and Turnberry, along with general contractor Balfour Beatty, have topped out Grand Hyatt Miami Beach, a 17-story, 800-room hotel underway in Miami Beach. The hotel tower will be connected to the newly renovated Miami Beach Convention Center via a climate-controlled sky bridge upon completion. Designed by Arquitectonica, Grand Hyatt Miami Beach will feature 12 floors of hotel rooms, as well as four floors of meeting and ballroom space totaling 110,000 square feet, including the 8,000-square-foot Grand Lawn on the fifth-floor amenity deck. The hotel will include a signature restaurant, lobby lounge and bar and 17,000 square feet of ground-level retail space, as well as two resort-style pools and a fitness center with a spa treatment room. The development team plans to deliver the hotel in late 2027. Last year, Terra and Turnberry secured $392 million in construction financing for the project.

July 30, 2026

Florida Loans Office Southeast

JLL Arranges $55.7M Loan for Portion of Midtown East Office Tower in Tampa

by John Nelson July 30, 2026

TAMPA, FLA. — JLL has arranged a $55.7 million loan for 143,354 square feet of office and retail space within Midtown East, an 18-story office tower in Tampa. The property was delivered in April 2025 and represents the third and final office tower within Midtown Tampa District, a 22-acre mixed-use campus that also features a Whole Foods Market, REI, Shake Shack, 700 apartments and an Aloft/Element hotel. Ed Coco, Evan Pariser, Lee Weaver and Matt Casey of JLL arranged the loan through Valley Bank on behalf of the borrower, a 50/50 joint venture between Highwoods Properties and The Bromley Cos. The office floors owned by the borrower at Midtown East were fully leased at the time of financing to tenants in the professional services, technology, staffing, real estate and insurance sectors. The financing also covered the ground-floor retail space that is ideally suited for a future restaurant. Tampa Electric Company, a subsidiary of TECO Energy, owns 11 floors of the building that were not included in the refinancing.

July 30, 2026

Alabama Development Multifamily Southeast

Dobbins Group Delivers 475-Unit Apartment Community in Birmingham

by John Nelson July 30, 2026

BIRMINGHAM, ALA. — Dobbins Group has delivered Colina Hillside, a 475-unit apartment community located at 1121 Colina St. in Birmingham. Capstone Building Corp. served as the general contractor for the project, which comprises one-, two- and three-bedroom apartments across multiple four- and five-story buildings. Monthly rental rates range from $1,390 to $3,050, according to Apartments.com. Amenities at Colina Hillside include two saltwater pools with private cabanas, a fitness center, pet spa, dog parks, clubhouse with coworking areas, firepit and outdoor entertainment venues, EV charging stations, garages, storage space and a market for residents.

July 30, 2026

Acquisitions District of Columbia Office Southeast

Garfield Investments, Broad Creek Capital Buy Office Building in D.C., Plan $10M Renovation

by John Nelson July 30, 2026

WASHINGTON, D.C. — A partnership between Garfield Investments and Broad Creek Capital has purchased 1667 K Street NW, a nearly 200,000-square-foot office building overlooking Farragut Square in Washington, D.C. The undisclosed seller sold the property to the partnership for $26.2 million. Andrew Weir of JLL brokered the transaction. The new ownership has selected Seth Benhard of JLL to lease the office building. JLL will also provide property management services. Garfield plans to invest approximately $10 million in capital improvements at 1667 K Street NW, which will includes installing an amenity floor on the top level.

July 30, 2026

Development Loans Midwest Multifamily Wisconsin

MMCC Arranges $16.5M in Construction Financing for Green Bay Multifamily Project

by Kristin Harlow July 30, 2026

GREEN BAY, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged $16.5 million in construction financing for Common Place Phase II, a 91-unit multifamily property with a first-floor retail unit located within walking distance of Lambeau Stadium at 670 Mike McCarthy Way in Green Bay. Robert Bhat of MMCC secured the financing through a local bank. The loan features an 80 percent loan-to-cost ratio, five-year term and 6.25 percent interest rate. Construction commenced in June. Plans call for a mix of studios, one-bedroom units and two-bedroom units designed to complement the adjacent Phase I development.

July 30, 2026

Acquisitions Industrial Kansas Midwest

BGO, Yukon Sell 291,000 SF Cold Storage Facility in New Century, Kansas

by Kristin Harlow July 30, 2026

NEW CENTURY, KAN. — BGO and Yukon Real Estate Partners have sold New Century Cold Storage, a newly built, 291,000-square-foot cold storage warehouse in New Century, a southwest suburb of Kansas City. A MetLife Investment Management client was the buyer. The facility, owned and co-developed through a joint venture between BGO and Yukon, was purpose-built as a plant-attached, built-to-suit warehouse for CJ Logistics America. The property is located within Johnson County Airport Commission’s New Century AirCenter industrial park, with a direct rail spur to the building and access to the BNSF Railway transcontinental intermodal facility. The asset is positioned less than four miles from I-35, providing road access to approximately 85 percent of the U.S. population within two days.

July 30, 2026

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