Western

EMBREY Closes on Land, Financing for 340-Unit Multifamily Development in Phoenix

by Amy Works November 19, 2025

PHOENIX — EMBREY has closed on the land and financing for 12th & Greenway, a Class A apartment property located near North 12th Street and Greenway Parkway in Phoenix. Construction will begin immediately, with first occupancy slated for third-quarter 2027. Situated on 7 acres, the four-story, wrap-style community will feature 340 apartments, including townhomes. Units will feature open-concept layouts with 9- to 10-foot ceilings, wood-style plank flooring, quartz countertops and stainless steel appliances. Additional features will include built-in desks, keyless entry and double vanities in select units. Onsite amenities will include a heated pool and hot tub with private cabanas, an outdoor kitchen and fireplace, fitness and yoga studios, a game room, conference and micro-office spaces and a secured 24-hour package room. Outdoor features will include several courtyards, a walking trail, dog park and shaded community spaces. Frost Bank, with support from private investors, provided financing for 12th & Greenway. EMBREY’s Garrett Karam and Jimmy McCloskey led the execution of the transaction.

November 19, 2025

Arizona Development Industrial Western

Lincoln Delivers Phase I of I-10 International Logistics Campus in Tucson

by Amy Works November 19, 2025

TUCSON, ARIZ. — Lincoln Property Co. has completed I-10 International Phase I, the company’s first-ever ground-up industrial development in Tucson. Valued at $80 million, I-10 International Phase I sits on 79 acres at the southeast corner of Alvernon Way and Los Reales Road, two miles from an interchange at I-10 and Valencia Road, within the Tucson International Airport submarket. Totaling 373,811 square feet, the property includes the 158,944-square-foot Building B and the 214,867-square-foot Building C. A fully designed, 188,434-square-foot Building A and a 476,000-square-foot Building D will be developed in line with market demand, bringing the asset to more than 1 million square feet of Class A industrial space. Buildings at I-10 International Phase I are state-of-the-art cold capable with 32-foot clear heights, 14-foot glass entrances, full concrete truck courts, generous clerestory windows and an R-38 insulated roof deck system. The project team includes Brinkmann Constructors as general contractor and Butler Design Group and Ware Malcomb as the collaborative design team. Jesse Blum of Cushman & Wakefield | PICOR is handling leasing for the project.

November 19, 2025

Acquisitions California Multifamily Western

Interstate Equities Buys 160-Unit Workforce Housing Property in San Jose, California

by Amy Works November 19, 2025

SAN JOSE, CALIF. — Interstate Equities Corp. has acquired Atrium Garden, a multifamily community located at 1536 Kerley Drive in San Jose, from an undisclosed seller for $18.4 million. The four-story property offers 160 apartments on three levels over a ground-floor podium parking structure with 63 onsite parking spaces. Residences are fully furnished with beds, bedside tables and lamps, lounge chairs, built-in desks, chairs and TVs. Community amenities include a fitness center, media rooms, multiple resident lounges, community kitchens, onsite laundry facilities and an outdoor barbecue and lounge area.

November 19, 2025

Acquisitions Multifamily Washington Western

Pine Forest Properties Sells Juniper Ridge Apartments in Bellevue, Washington for $17.5M

by Amy Works November 19, 2025

BELLEVUE, WASH. — Pine Forest Properties has completed the disposition of Juniper Ridge, a multifamily property in Bellevue, to a private investor for $17.5 million, or $397,727 per unit. Built in 1991 and renovated in 2015 and 2016, Juniper Ridge offers 44 apartments with kitchen pantries, linen closets, wood-burning fireplaces and a private deck or patio. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.

November 19, 2025

Acquisitions Colorado Industrial Western

Malman Real Estate Brokers $1.3M Sale of Industrial Property in Denver

by Amy Works November 19, 2025

DENVER — Malman Real Estate has arranged the sale of an industrial property located at 2173 S. Wabash St. in Denver. AB Investment sold the asset to United Properties Group for $1.3 million. Situated on a 28,096-square-foot lot, the property offers 2,040 square feet of flex space. Taylor Roy of Malman Real Estate represented the seller, while Ruzlan Shamaev of Brokers Guild Real Estate represented the buyer in the transaction.

November 19, 2025

California Development Loans Multifamily Top Stories Western

JPI Receives Construction Financing for $150M Apartment Project in Downtown Long Beach

by Amy Works November 19, 2025

LONG BEACH, CALIF. — Multifamily developer JPI has received construction financing from Tokyo Tatemono US Ltd. and BMO Bank for Portico, a $150 million apartment project in Long Beach, a coastal city situated about 25 miles south of Los Angeles. Located at 450 The Promenade N, Portico marks the first phase of the Mosaic redevelopment project, formerly known as City Place Long Beach. Slated for delivery in 2028, Portico will feature 272 multifamily units, including studio, one-, two- and three-bedroom apartments — 16 of which will be designated as affordable housing. The development will also include 18,841 square feet of ground-floor retail space, offering direct access to the pedestrian promenade. Community amenities will include a speakeasy, rooftop deck, sports simulator, sauna and pool deck overlooking the Mosaic shopping center. Public art murals will adorn the building’s brick façade. “This project represents a key step forward in reimagining downtown Long Beach,” says Mollie Fadule, chief financial and investment officer at JPI. “With the support of Tokyo Tatemono US Ltd. and BMO Bank, we are not just building homes; we are creating a destination that blends housing, retail and culture into a thriving urban experience.” The broader 14-acre Mosaic redevelopment, led by Turnbridge …

November 19, 2025

Acquisitions Arizona Hospitality Western

JLL Negotiates Sale of 1,003-Room Sheraton Phoenix Downtown Hotel

by Amy Works November 18, 2025

PHOENIX — JLL has arranged the sale of Sheraton Phoenix Downtown, a 1,003-room convention center hotel in Phoenix. Built in 2008 and enhanced through a $45 million renovation in 2020, the 33-story property features 112,000 square feet of flexible meeting and event space, including the 27,000-square-foot Phoenix Ballroom and the 14,000-square-foot Valley Of the Sun Ballroom. The conference center offers 26 total meeting rooms, with the largest space accommodating up to 2,510 guests and 20 breakout rooms for concurrent sessions. The 806,481-square-foot property features guest rooms on floors five through 33; three food-and-beverage concepts, including Carcara, &More by Sheraton and Breeze Bar & Grill; a 4,300-square-foot fitness center; an outdoor pool; Sheraton Club Lounge and comprehensive business services. Matt Riley led the JLL Hotels & Hospitality team that represented the undisclosed seller in the transaction.

November 18, 2025

Arizona Development Multifamily Western

Partnership Breaks Ground on 308-Unit Union Park Residences in Phoenix

by Amy Works November 18, 2025

PHOENIX — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., and joint venture partners Mar-Gulf Management and MDI Capital, the international real estate subsidiaries of Kuwait Financial Centre, have broken ground on Union Park Residences in Phoenix’s Norterra master-planned development. Slated for completion by fourth-quarter 2027, the four-story Union Park Residences will feature 308 studio, one- and two-bedroom apartments, ranging from 600 square feet to 1,400 square feet. Apartments will feature large kitchen islands with quartz countertops, tile backsplashes, stainless steel appliances and tiled showers and surrounds. Situated on 8 acres at 2215 W. Union St., the community will offer a pool, spa, fitness center with a sauna and cold plunge, a coworking area, pet spa, dog run and game lounge. Ironmark Builders is serving as general contractor, and ESG Architects designed the project.

November 18, 2025

Development Industrial Loans Utah Western

ViaWest Group, GEM Realty Capital Receive $43.3M Construction Loan for Industrial Project in West Valley City, Utah

by Amy Works November 18, 2025

WEST VALLEY CITY, UTAH — ViaWest Group and GEM Realty Capital have received $43.3 million in construction financing for the development of 5400 South, a previously announced three-building warehouse project in West Valley City. Kevin MacKenzie, Jason Carlos, Jeff Pew and Lilley Kroll of JLL secured the floating-rate loan for the borrower. Situated on 28.7 acres at 7301 W. 5400 S, the 470,334-square-foot development will feature clear heights ranging from 32 feet to 36 feet across the buildings. In total, 5400 South will offer 110 dock-high doors, 18 grade-level doors, 54 trailer parking spaces and 443 automobile parking spaces. The buildings will offer flexible space configurations ranging from 19,500 square feet to 218,499 square feet. Construction commenced in November, with completion slated for December 2026.

November 18, 2025

Acquisitions Multifamily Nevada Western

Northcap Commercial Brokers Sale of 54-Unit Westland Orland Apartments in Las Vegas

by Amy Works November 18, 2025

LAS VEGAS — Northcap Commercial has arranged the sale of Westland Orland Apartments, a multifamily property located at 109 Orland St. in Las Vegas. The asset traded for $5.4 million, or $100,000 per unit. Built in 1969, Westland Orland Apartments offers 54 units. Devin Lee, Robin Willett and Jerad Roberts of Northcap represented the undisclosed seller and procured the undisclosed buyer in the transaction.

November 18, 2025

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