Western

Intercontinental Real Estate Acquires Lakeland Town Center in Metro Seattle for $69.5M

by Amy Works July 21, 2026

AUBURN, WASH. — Intercontinental Real Estate Corp. has acquired Lakeland Town Center, a 125,233-square-foot, grocery-anchored retail center located approximately 20 miles south of Seattle in Auburn, for $69.5 million. Built in 2002, Lakeland Town Center is situated on 12.6 acres within the Lakeland Hills master-planned community. The property was fully leased at the time of sale. Tenants include Haggen Northwest Fresh, Subway, HopsnDrops, Rock Wood Fired Pizza, Puerto Vallarta Mexican, Sushi Konami, Ichi Teriyaki, Legendary Doughnuts, Nekter Juice Bar, Menchie’s Frozen Yogurt, Pacific Cataract and Laser Institute, Gentle Dental, Outpatient Physical Therapy, Edward Jones, McDonald’s, Wells Fargo, The UPS Store, Orangetheory Fitness and Club Pilates. Intercontinental plans to execute a capital improvement program focused on roof replacement and as-needed upgrades for tenants, alongside the implementation of a leasing strategy centered on preserving and strengthening the center’s tenant mix. Geoff Tranchina, Gleb Lvovich, Dan Tyner and Tess Berghoff of JLL Capital Markets marketed the property on behalf of the seller.

July 21, 2026

Acquisitions California Loans Multifamily Western

Berkadia Arranges $35.5M Sale of Two Multifamily Properties in Castro Valley, California

by Amy Works July 21, 2026

CASTRO VALLEY, CALIF. — Berkadia has arranged the $35.5 million sale of The Cedars and Creekside Terrace, two neighboring, value-add multifamily properties located in the Northern California city of Castro Valley. Felson Cos., the original developer, sold the assets to San Francisco-based Prime Residential for $21.4 million and $14.1 million, respectively. Jason Parr, Scott MacDonald and John Hansen of Berkadia San Francisco represented the seller in the deal, while Clay Akiwenzie and Hank Workman of Berkadia San Francisco provided financing for the buyer. The financing consists of a seven-year, fixed-rate Freddie Mac loan with full-term interest-only payments. Located at 22240-22302 Center St., The Cedars features 83 one-, two- and three-bedroom apartments, two pools, an outdoor courtyard, fitness center and covered parking. Creekside Terrace, located at 22180 Center St., offers 52 one-, two- and three-bedroom floor plans, as well as a pool, dry sauna, outdoor courtyard, a fitness center and covered parking.

July 21, 2026

Acquisitions Idaho Industrial Western

Brennan Investment Group Buys Three-Building, 439,600 SF Industrial Portfolio in Nampa, Idaho

by Amy Works July 21, 2026

NAMPA, IDAHO — Chicago-based Brennan Investment Group has acquired a three-building, 439,600-square-foot industrial portfolio in Nampa, located just west of Boise. Details of the transaction were not released. This purchase marks Brennan’s entry into the Boise industrial market. Completed in 2023, the tilt-up industrial buildings were fully leased at the time of sale and feature 32-foot clear heights, ESFR sprinkler systems and truck courts exceeding 130 feet.

July 21, 2026

Acquisitions California Multifamily Seniors Housing Western

Marcus & Millichap Brokers Sale of Seven-Building Memory Care Campus in San Diego County

by Amy Works July 21, 2026

SAN DIEGO COUNTY, CALIF. — Marcus & Millichap has brokered the sale of a seven-building memory care campus in San Diego County. Developed in 2002, the property contains more than 55 units licensed for over 85 residents. The community was operating with negative net operating income (NOI) at the time of sale. Nick Stahler, Justin Knapp, Michael Mooney and Hap Knowles of Marcus & Millichap’s Knapp-Stahler Group arranged the transaction. An undisclosed, all-cash buyer acquired the community from a publicly traded REIT for roughly $170,000 per unit.

July 21, 2026

Affordable Housing California Development Multifamily Seniors Housing Western

Wellpointe to Develop $2B Affordable Seniors Housing Campus in Los Angeles

by Amy Works July 20, 2026

LOS ANGELES — Wellpointe has announced plans for the development of a new affordable seniors housing campus within the Warner Center master-planned district in Los Angeles. Wellpointe estimates a total investment of $2 billion in the project, which will be developed in four phases. A property-holding affiliate of Wellpointe acquired the 4.7-acre development site late last year from Parkview Financial. Upon completion, Viva L.A. Warner Center will comprise four high-rise towers ranging from 34 to 42 stories. The 2.2 million-square-foot development will total 3,192 units and include 61,450 square feet of non-residential space. “Viva represents our conviction that affordable housing, paired with assisted living services as needed, can be delivered at the scale and density that California’s aging population in core urban centers actually needs,” says George Kutnerian, co-founder and CEO of Wellpointe. “Despite the overwhelming need for a new model, senior living continues to be built out rather than up — even in dense urban areas — and quality is treated as incompatible with affordability. Viva rejects that premise and builds upon Wellpointe’s mission of democratizing access to quality housing and care for older adults — now through transit-oriented, high-density, community-serving urban social infrastructure.” Gensler is designing the project. The firm …

July 20, 2026

Idaho Loans Multifamily Student Housing Western

Harrison Street Provides Loan for Refinancing of 547-Bed Student Housing Community Near Boise State University

by Amy Works July 20, 2026

BOISE, IDAHO — Harrison Street Asset Management has provided a loan for the refinancing of a 547-bed student housing community located near the Boise State University campus in Idaho. The borrower was a joint venture between Appian Capital and Subtext. Further details on the financing were not released. Delivered in 2023, VERVE Boise offers units in studio, two-, three-, four- and five-bedroom configurations with bed-to-bath parity. Shared amenities include a resort-style pool, 24-hour fitness center, indoor resident lounge and outdoor gathering spaces. The community was 98 percent leased at the time of financing.

July 20, 2026

Acquisitions Multifamily Oregon Western

MG Properties Acquires 188-Unit Apartment Complex in Portland

by Amy Works July 20, 2026

PORTLAND, ORE. — MG Properties has purchased Tupelo Alley, a 188-unit mixed-use apartment community in Portland. Terms of the transaction were not released. Ira Virden, Carrie Kahn and Owen Wise of JLL represented the undisclosed seller in the deal. The property offers studio, one- and two-bedroom units. Charles Halladay, Rick Salinas, Annie Rice, Brandon Smith and Charlie Watson of JLL Capital Markets originated an undisclosed amount of Freddie Mac acquisition financing for the deal.

July 20, 2026

Acquisitions Colorado Multifamily Western

Marcus & Millichap Arranges Sale of 93-Unit Apartment Building in Denver

by Amy Works July 20, 2026

DENVER — Marcus & Millichap has arranged the sale of The Jewell, a 93-unit apartment building located at 4470 E. Jewell Ave. in Denver’s Virginia Village neighborhood. The seller was a New York-based investor, and the buyer was a California-based investor. The property, which was built in 1968 and recently renovated, was 55 percent occupied at the time of the sale. Jason Hornik and Greg Parker of Marcus & Millichap’s Denver office brokered the sale.

July 20, 2026

Acquisitions California Multifamily Western

Prime Residential Purchases Palm Court Apartments in Los Angeles for $51.2M

by Amy Works July 17, 2026

LOS ANGELES — Prime Residential has purchased Palm Court Apartments, a 132-unit multifamily property located in the Miracle Mile neighborhood of Los Angeles, for $51.2 million, or $388,258 per unit. Jeff Louis, Gayle Factor and Elliot Sabag of Marcus & Millichap represented the the seller, a private investor, in the transaction. Matt Ziegler of Marcus & Millichap, along with Louis, Factor and Sabag, procured the buyer. Located at 740 S. Burnside Ave., Palm Court Apartments features 48 one-bedroom/one-bath units, 72 two-bedroom/two-bath units and 12 three-bedroom/two-bath units. Apartments include custom cabinetry, quartz countertops and stainless steel appliances. Community amenities include controlled-access gated parking, heated pool and spa, fitness center, saunas, rooftop sundeck and laundry facilities on each floor. The property was built in 1988.

July 17, 2026

Arizona Loans Multifamily Student Housing Western

TSB Capital Advisors Arranges Loan for Refinancing of 530-Bed Community Near Arizona State University

by Amy Works July 17, 2026

TEMPE, ARIZ. — TSB Capital Advisors has arranged a loan of an undisclosed amount for the refinancing of Atmosphere Tempe, a 530-bed student housing community located near the Arizona State University campus in Tempe. The floating-rate bridge loan was secured on behalf of the borrowers, Trinitas and Harrison Street Asset Management, through PGIM. Delivered in 2021, the high-rise building offers 252 units with bed-to-bath parity. Shared amenities include a rooftop pool and hot tub, resort-style sundeck with lounge seating, grilling stations, “state-of-the-art” fitness center, private study lounges, computer lounge and a coffee bar.

July 17, 2026

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