CUPERTINO, CALIF. — Northmarq has arranged $145 million in refinancing for The Towers at Cupertino City Center, a two-building office campus in Cupertino. Prometheus Real Estate Group owns and operates the Class A property. Nathan Prouty, Andrew Slaton and John Holt of Northmarq secured the financing for the borrower through Wells Fargo. Located at 20400 and 20450 Stevens Creek Blvd., the campus offers 357,502 square feet of office space on a 3.2-acre site at the intersection of Stevens Creek and De Anza boulevards. Originally constructed by Prometheus in 1989, the property underwent significant renovations in 2022.
GLENDALE, ARIZ. — San Francisco-based Hamilton Zanze has completed the disposition of Tresa at Arrowhead, a multifamily community in Glendale. TerraCap Management acquired the asset for $82.1 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal. CBRE Debt & Structured arranged financing for the buyer. Completed in 1998, the low-density garden site plan features two-story buildings offering a total of 360 apartments. The gated community has 107 detached garages, three pool and spa areas, a large resident clubhouse and game room, a fitness center with cardio and weight training equipment, a dog park, barbecue and picnic areas and a dry sauna.
SANTA CRUZ, CALIF. — Lincoln Property Co. and Bridge Investment Group have completed RiverRow, an apartment property overlooking the San Lorenzo River in downtown Santa Cruz. Located at 414 Front St., RiverRow features 175 studio, one-, and two-bedroom apartments, including townhomes. Twenty units are designated as affordable. Community amenities include a fitness center, bike and surf storage/repair facilities, a resident lounge with coworking spaces, a pet-wash station and two roof decks with river and ocean views. Additionally, the property features outdoor seating overlooking the river and a designated food truck space, as well as below-grade and ground-floor parking. Totaling nearly 250,000 square feet, the three-building development also includes nine retail spaces. Project partners include BDE Architecture, Western National Builders, DCI Engineers, Emerald City Engineers and Poppy Bank. The property is managed by The REMM Group, a Southern California-based third-party management firm recently acquired by Lincoln.
WINDSOR, COLO. — Prospect Station LLC, as part of a 1031 exchange, has completed the sale of a Class A industrial property located at 7365 Greendale Road in Windsor. NMH Greendale LLC acquired the building for $11.2 million in an off-market transaction. Travis Ackerman of Cushman & Wakefield represented the seller, while Standard Commercial’s Ian Ciagstone represented the buyer in the deal. The 39,000-square-foot building features two overhead grade doors, a dock-high door, 20- to 24-foot clear heights, 3-phase 1,200-amp power and a 9,000-square-foot mezzanine. Additionally, the property offers ample parking, efficient circulation, sprinklers throughout and light industrial zoning.
SEATTLE — Cushman & Wakefield has facilitated the disposition of Roy Vue Apartments, a historic 34-unit multifamily property in Seattle’s Capitol Hill neighborhood. The asset traded for $11.5 million. Dylan Roeter, Tim McKay, Dan Chhan, Matt Kemper, Jacob Odegard and Byron Rosen of Cushman & Wakefield represented the undisclosed seller in the transaction. Totaling 34,059 net rentable square feet, Roy Vue Apartments features 30 one-bedroom/one-bath units and four two-bedroom/one-bath units, with an average unit size of more than 1,000 square feet and nine-foot ceilings. Community amenities include private landscaped courtyards, 19 individual garages and updated building systems. The property is located at 615 Bellevue Ave. E.
GILBERT, ARIZ. — CBRE has arranged the acquisition of Arizona Veterinary Specialty Center, a veterinary speciality and emergency care facility in Gilbert. Futurepath Development Services acquired the asset for $11.2 million. Located at 86 W. Juniper Ave., the property offers 28,805 square feet of space. The asset is 68 percent occupied by Arizona Veterinary Emergency & Critical Care Center, a National Veterinary Associates and Ethos Veterinary Health company, and Thrive Pet Healthcare. Nick Whitstone and Miles DeLong of CBRE represented the buyer in the deal.
TUCSON, ARIZ. — Marcus & Millichap has negotiated the sale of Copper Creek, a 99-unit multifamily property in Tucson. A limited liability company sold the asset to a limited liability company for $11.1 million, or $111,869 per unit. Clint Wadlund and Hamid Panahi of Marcus & Millichap represented the seller and procured the buyer in the deal. Built in 1973, Copper Creek offers 99 one-, two- and three-bedroom apartments in traditional and townhome-style options. Units feature fully equipped kitchens with frost-free refrigerators, stoves and dishwashers; ample closet space; windows with sunscreens; wood-style vinyl plank flooring in living areas; ceramic tile in wet areas; and carpet in bedrooms. Select units include a yard, washers/dryers and/or washer/dryer connections. Community amenities include a swimming pool, fully equipped fitness center, basketball courts, clubhouse with a Wi-Fi business center, playground, barbecue areas and laundry facilities.
TUCSON, ARIZ. — Southwest Autism Research & Resource Center has purchased a freestanding office building, located at 3100 N. Campbell Ave. in Tucson, from Siempre Juntos for $2.1 million. Richard Kleiner and Alexis Corona of Cushman & Wakefield | PICOR represented the seller in the deal.
RENO, NEV. — LDK Ventures has completed the purchase of Reno Distribution Center, an industrial property located at 4910 Longley Lane near the Reno-Tahoe International Airport in Reno. Eric Bennet and Tomi Jo Lynch of CBRE brokered the acquisition. Totaling 300,564 square feet, the asset features four suites, warehouse and storage facilities, dedicated office space and dock-high and ground-level loading doors. The property offers direct access to SR-395 and I-580.
Glencrest Group, Sky Alps Capital Buy 155-Unit Cedar Square Apartment Community in Beaverton, Oregon
BEAVERTON, ORE. — A joint venture between Glencrest Group and Sky Alps Capital has acquired Cedar Square, a garden-style multifamily community at 10480 SW Eastridge St. in Beaverton, from a local owner for $29.8 million. Ira Virden, Carrie Kahn and Owen Wise of JLL Capital Markets represented the seller, while Charles Halladay and Jonah Aelyon of JLL arranged acquisition financing for the buyer. Built in 1980 with additions in 2016 and 2024, Cedar Square offers 155 one-, two- and three-bedroom apartments with patios or balconies. Onsite amenities include a fitness center, playground, laundry facilities, ample parking and abundant green space. The seller completed capital improvements, including repaving and replacing siding, windows, decks and roofs on the majority of the buildings.
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