Western

Granite Capital Group, Chartered Development Open 264-Unit Residences at Nova West in Longmont, Colorado

by Amy Works April 11, 2025

LONGMONT, COLO. — Granite Capital Group and Chartered Development Corp. have opened Residences at Nova West, a 264-unit multifamily community in Longmont. Reservations for Phase I apartments are now open. Situated on 11 acres at the northwest corner of Nelson Road and Dry Creek Drive, Residences at Nova West features five four-story, elevator-served buildings offering 123 one-bedroom/one-bath, 121 two-bedroom/two-bath and 20 three-bedroom/two-bath apartments. Each residence features nine- to 11-foot ceilings, stainless steel kitchen appliances, private balconies or patios, full-size in-unit washers/dryers and super energy-efficient heat pump HVAC systems. Private garages with 220V outlets for electric vehicle charging are available for an additional cost. Community amenities include a fitness center, yoga room, two dog parks, a clubhouse with coworking rooms and work pods, a complimentary coffee station and a pool with a lap lane and spa. Additionally, the property offers ground-level grilling stations and covered carport parking. Legacy Partners will manage the community, which is located adjacent to a Super Target and The Home Depot.

April 11, 2025

Affordable Housing California Development Loans Multifamily Western

SoLa Impact Receives $29M in New Markets Tax Credit Financing for Crenshaw Lofts in South Los Angeles

by Kristin Harlow April 11, 2025

LOS ANGELES — SoLa Impact has received $29 million in New Markets Tax Credit (NMTC) financing to help supplement its funding of two initiatives at Crenshaw Lofts, a 190-unit mixed-use project at 4607 Crenshaw Blvd. in South Los Angeles. The project is a combination of Opportunity Zone financing coupled with NMTC financing and private equity. The NMTC financing will be utilized for the ground-floor commercial and retail space. The NMTCs will specifically fund the build-out and completion of: The NMTC allocations were provided by three mission-aligned Community Development Entities (CDEs): Border Communities Capital Co., Los Angeles Development Fund and Enterprise Financial CDE. Dudley Ventures/Valley Bank served as the tax credit investor. BHI, the U.S. division of Bank Hapoalim, provided the construction financing. SoLa Impact is a family of social impact real estate funds focused on preserving, refreshing and creating affordable housing in low-income communities.

April 11, 2025

Acquisitions Development Nevada Retail Western

Barclay Group Buys Kiley Ranch Marketplace in Nevada for $25.6M, Plans 400,000 SF Retail Power Center

by Amy Works April 11, 2025

SPARKS, NEV. — Barclay Group has purchased Kiley Ranch Marketplace, a 46.7-acre parcel at the southwest corner of Wingfield Hills Road and Pyramid Highway in Sparks for $25.6 million. The buyer plans to develop a 400,000-square-foot retail power center on the site. The development will be the first new retail power center in Sparks since 2005. Shawn Smith and Sean Retzloff of Kidder Mathews represented the buyer and seller, KM2 Development, in the transaction. Additionally, the team will handle leasing for the project.

April 11, 2025

Acquisitions Colorado Multifamily Western

Inland Real Estate Divests of 252-Unit Solaire Apartments in Brighton, Colorado

by Amy Works April 11, 2025

BRIGHTON, COLO. — Inland Real Estate Investment Corp. has completed the sale of Solaire Apartments, a multifamily community located at 1287 S. 8th Ave. in Brighton. Terms of the transaction were not released. Constructed in 2013, Solaire Apartments offers 252 residences spread across 11 three-story buildings. The community features a clubhouse, 24-hour fitness center, pool with hot tub and lounge area, outdoor barbecue grilling stations, a fire pit, dog park and playground area. At the time of sale, the property was 96.4 percent occupied. Inland Private Capital Corp. originally acquired Solaire Apartments in November 2016 on behalf of Brighton Multifamily DST. The recent sale resulted in a realized net equity multiple to investors of 1.6x.

April 11, 2025

Acquisitions Colorado Industrial Retail Western

Malman Real Estate Brokers Sale of 5,200 SF Flex Property in Leadville, Colorado

by Amy Works April 11, 2025

LEADVILLE, COLO. — Malman Real Estate has arranged the purchase of a 5,200-square-foot flex retail and industrial building located at 331 Highway 24 in Leadville. 331HIGHWAY24 LLC, a Wyoming limited liability company, acquired the asset from NAK Property 4 LLC, a Colorado limited liability company, for $1 million. Taylor Roy of Malman Real Estate represented the buyer, while Kory Pryor of 23 Realty Advisors represented the seller in the deal.

April 11, 2025

California Loans Multifamily Western

G.H. Palmer Associates Receives $168M Refinancing for Park Sierra Apartments in Santa Clarita, California

by Amy Works April 10, 2025

SANTA CLARITA, CALIF. — G.H. Palmer Associates has received a $168 million loan to refinance Park Sierra, a 776-unit apartment building in Santa Clarita, approximately 35 miles northwest of Los Angeles. Walker & Dunlop’s California multifamily finance team, led by Trevor Fase, arranged the financing through Freddie Mac. Originally developed by G.H. Palmer Associates in 1987, the garden-style community offers a mix of 97 one-bedroom and 679 two-bedroom apartments. About 40 percent of the units have been rehabilitated, with additional capital investment planned. Amenities include five pools and spas, a fitness center, picnic and play areas.

April 10, 2025

Acquisitions Arizona Industrial Western

ViaWest Divests of 357,103 SF Sight Logistics Park in Tempe, Arizona

by Amy Works April 10, 2025

TEMPE, ARIZ. — ViaWest Group has sold Sight Logistics Park, a two-building industrial property in Tempe. Terms of the transaction were not released. Completed in 2023, Sight Logistics Park consists of the 155,916-square-foot Building 1 at 6840 S. Harl Ave. and the 201,187-square-foot Building 2 at 6860 S. Harl Ave. The buildings feature 32-foot clear heights, 100 percent HVAC coverage, 66 dock-high doors, a 200-foot truck court, 10 grade-level doors and 8,400 amps of power. At the time of sale, the park was 88 percent occupied by a variety of tenants, including nVent, Daikin, Rentex and Supply Chain Solutions. Ben Geelan, Greer Oliver and Connor Nebeker-Hay of JLL Capital Markets Investment Sales handled the transaction. Rob Martensen, Phil Breidenbach and Sam Jones of Colliers handled local leasing efforts for the property.

April 10, 2025

Acquisitions California Hospitality Restaurant Retail Western

Curtis Holdings Sells Tallman Hotel, Blue Wing Saloon in Lake County, California

by Amy Works April 10, 2025

UPPER LAKE, CALIF. — Curtis Holdings has completed the disposition of Tallman Hotel and Blue Wing Saloon, located at 9550 Main St. and 9520 Main St., respectively, in Upper Lake. Amar and Rajvi Alapati acquired the assets for an undisclosed price. The buyers will add the properties to its Serenity Hotels Collection. Alex Lee-Bull and Lauren Liebes of CBRE represented the seller. The Tallman Hotel offers 17 rooms across nine buildings. Originally built in 1896, the hotel was renovated between 2002 and 2005 and reopened in 2006 with modern amenities, including an outdoor swimming pool, gardens and a meeting room. Select rooms offer outdoor showers and Japanese Ofuro soaking tubs.

April 10, 2025

Acquisitions California Industrial Western

Marcus & Millichap Brokers Sale of 13,440 SF Warehouse in Stockton, California

by Amy Works April 10, 2025

STOCKTON, CALIF. — Marcus & Milichap has arranged the $1.2 million sale of a warehouse property located at 729 S. Commerce St. in Stockton. Matt Sulaiman and Abdullah Sulaiman of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Brandon Dena of Marcus & Millichap provided financing support for the transaction. Constructed in 1973, the 13,440-square-foot property features heavy power, a large yard, custom-built office space and convenient access to major freeways.

April 10, 2025

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

CBRE Brokers $95.7M Sale of Bella Encanta BTR Community in Mesa, Arizona

by Amy Works April 9, 2025

MESA, ARIZ. — CBRE has negotiated the sale of Bella Encanta, a build-to-rent (BTR) community in Mesa. Bela Flor Communities sold the asset to a global institutional investor for $95.7 million. Griffen Tymins, Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the Mesa-based seller in the deal. Completed in 2023, the 212-unit property features duplex-style homes with wood-style plank flooring, nine- and 10-foot ceilings, full-size washers/dryers, granite countertops, undermount sinks, eat-in islands, stainless steel appliances, gas cooktops, Shaker-style cabinetry and subway tile backsplashes, as well as a private two-car attached garage with electric vehicle charging capabilities. Community amenities include a resident clubhouse with a fitness center with climbing wall, demonstration kitchen, billiards table, leasing office, conference room, meeting space and seating areas. Outdoor amenities include soccer fields, two pet parks with a wash station, a sand volleyball court, a basketball half-court, two pickleball courts, a children’s playground, walking paths and multiple picnic areas with barbecue grills.

April 9, 2025

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