Western

Max Benjamin Partners Arranges $74.8M in Construction Financing for Townhome Property in Flagstaff, Arizona

by Amy Works October 16, 2026

FLAGSTAFF, ARIZ. — Beverly Hills, Calif.-based Max Benjamin Partners has secured a $74.8 million nonrecourse loan for Red Oak Development for the construction of Pine Haven, a townhome property located at 2951 S. Masonic Lane in Flagstaff. Cameron Lind of Max Benjamin Partners arranged the loan for the borrower. Totaling 83 townhomes, Pine Haven will offer three home collections — Ponderosa, Aspen and Juniper — each a three-bedroom, 2.5-bath townhome with a two-car garage and indoor/outdoor living space. The development will also include a dedicated wellness amenity center with a cold plunge, a Spanish cedar sauna and a Japanese meditation room. Situated on 13.8 acres in Arizona’s Coconino National Forest, roughly half of the property will remain preserved as forest. The community is backed by an extensive public trail system and will have dark-sky compliant lighting throughout. First unit sales are expected to commence in late 2027.

October 16, 2026

California Development Multifamily Western

National City Investment Group Breaks Ground on 120-Unit Apartment Community in California

by Amy Works October 16, 2026

NATIONAL CITY, CALIF. — The National City Investment Group has broken ground on Market View, a workforce apartment property at 303 Highland Ave. in National City. Slated for completion in first-quarter 2028, the project will transform an underutilized parking lot adjacent to Manolo Farmers Market. Market View will offer 120 studio, one- and two-bedroom layouts in three residential buildings linked by open space, pedestrian connectivity and Manolo Farmers Market. The community will feature shared spaces, private outdoor areas, a shared rooftop deck, coworking area at the ground-floor lobby, community room opening to outdoor space, a guest suite planned for future resident use and a wellness center with an outdoor yoga deck. The project team includes RDC as architect, R.D. Olson Construction as general contractor and McCullough Landscape Architecture as landscape designer. The National City Investment Group is a locally owned, privately held real estate investment company whose members have longstanding business ties to the South San Diego community.

October 16, 2026

Acquisitions California Multifamily Western

Colliers Brokers Sale of Two-Property Multifamily Portfolio in Fallbrook, California for $37M

by Amy Works October 16, 2026

FALLBROOK, CALIF. — Colliers has arranged the sale of a two-property multifamily portfolio, totaling approximately $37 million, in Fallbrook. The portfolio includes Amberwood Apartments, a 133-unit property at 923 Alturas Road, that sold for $24.2 million, and Rosewood Apartments, a 73-unit community at 338 Ammunition Road, that sold for $12.4 million. Shane Shafer and Brian Anderson of Colliers represented the sellers, Amber Creek Associates LTD and Rosewood Associates LTD, respectively, in the transactions. The names of the buyers were not disclosed.

October 16, 2026

Acquisitions Industrial Montana Self-Storage Western

Local Developer Sells 95,660 SF Self-Storage Facility Near Bozeman, Montana

by Amy Works October 16, 2026

BELGRADE, MONT. — A local developer has completed the sale of At Home Storage, a self-storage facility in Belgrade, approximately 10 miles northwest of Bozeman, to Storage Rentals of America for an undisclosed price. Mason Gates and Bend Tracy of Matthews represented the seller and sourced the buyer in the transaction, with Brian Brockman serving as broker of record. Developed in four phases beginning in 2021, the property features 95,660 net rentable square feet across 601 self-storage units on 7 acres. The asset is located at 1205 Rizzo Lane.

October 16, 2026

California Development Hospitality Mixed-Use Top Stories Western

OCVIBE Unveils First Autograph Collection Hotel in Anaheim, California

by Abby Cox October 16, 2026

ANAHEIM, CALIF. — The Samueli Family and Marriott International (NASDAQ: MAR) have unveiled the design for SENA, Anaheim’s first hotel in Marriott’s Autograph Collection portfolio. Set to open in 2029, the 300-room luxury hotel will serve as the hospitality anchor of OCVIBE, a $5 billion, 100-acre master-planned entertainment and mixed-use district surrounding the Honda Center, the home arena of the Ducks. The Samueli Family, owner of the Ducks, along with its affiliate OC Sports & Entertainment, is the master developer behind OCVIBE and SENA. The hotel’s project team also includes Wimberly Allison Tong & Goo (architecture and landscape architecture) and Rockwell Group (interior design), while Sage Hospitality Group will lead guest services. “SENA brings together world-class hospitality, culinary and design brands while creating something distinctly ‘Anaheim,’” says Mike Waterman, president and CEO of Visit Anaheim. “It reflects the continued evolution of Anaheim and the caliber of experiences taking shape across our destination.” At the center of the entrance to SENA, Rockwell Group is designing a circular indoor-outdoor lobby bar that will transition from bright colors during the day to warm, atmospheric colors at night. Meanwhile, the pool deck, pool bar and the indoor-outdoor lobby bar will overlook OCVIBE’s South Plaza …

October 16, 2026

California Hospitality Loans Western

JLL Arranges $210M Refinancing for Grand Hyatt Indian Wells Resort & Villas in California

by Amy Works October 15, 2026

INDIAN WELLS, CALIF. — JLL has arranged $210 million in refinancing for the Grand Hyatt Indian Wells Resort & Villas, a luxury resort situated on 45 acres at 44600 Indian Wells Lane in Indian Wells. Mike Huth, Jade Lewin and Kevin Davis of JLL Capital Markets secured the five-year, floating-rate SASB CMBS loan through Citi for the borrower, Trinity Investments. Situated in Coachella Valley, Grand Hyatt Indian Wells Resort & Villas features 531 accommodations, including 449 guest rooms, 39 suites and 43 villas, and more than 88,000 square feet of indoor and outdoor meeting and event space. Additionally, the villa collection provides outdoor living areas and dedicated guest services. Resort amenities include nine pools, a destination water park with waterslides and a lazy river, a 30,000-square-foot Agua Serena Spa & Wellness center, six food-and-beverage venues, tennis and pickleball courts, a fitness center and preferred access to the adjacent Indian Wells Gold Resort. Grant Hyatt Indian Wells Resort & Villas recently underwent a $62 million renovation and conversion to the Grand Hyatt flag. The property is a AAA Four Diamond resort.

October 15, 2026

Acquisitions California Multifamily Student Housing Western

Joint Venture Acquires 1,035-Bed Student Housing Property Near San Jose State University for $204.7M

by Amy Works October 15, 2026

SAN JOSE, CALIF. — A joint venture between Coastal Ridge Real Estate and Brookfield has purchased The Grand San Jose, a purpose-built 19-story student housing asset near San Jose State University, from AMCAL, Swenson and Tikehau Capital for $204.7 million. Peter Katz of Institutional Property Advisors (IPA), a division of Marcus & Millichap, along with Tony Solomon as Marcus & Millichap’s California broker of record, represented both parties in the deal. Completed in 2020, The Grand offers 206 fully furnished one-, two-, three- and four-bedroom floor plans, totaling 1,035 beds, most with private bedrooms and private bathrooms, along with fully equipped kitchens with stainless steel appliances and in-unit washers/dryers. Community amenities include a resort-style pool and spa with cabanas, a 24-hour fitness center with spin and yoga studios, study lounges on every floor, a penthouse sky deck, an outdoor movie screen, sports courts and grilling stations. At the time of sale, the property was fully occupied for the second consecutive leasing season with renewal activity supported by Fresno, Calif.-based property manager BEKK Inc., according to IPA.

October 15, 2026

California Development Loans Mixed-Use Multifamily Retail Western

Lincoln Property Co., McCourt Partners Receive $132.7M Construction Loan for Culver City Multifamily Project

by Amy Works October 15, 2026

CULVER CITY, CALIF. — Lincoln Property Co. and McCourt Partners have received $132.7 million in construction financing from Bank OZK for ElevenOneEleven, a multifamily development in Culver City. Lou Friedel and Keith Rosso of Berkadia arranged financing on behalf of Lincoln and McCourt. Situated on 3.4 acres at 11111 Jefferson Blvd., ElevenOneEleven will feature a six-story development comprising 344 residences, including 52 affordable units, along with 2,000 square feet of retail space and 17,520 square feet of publicly accessible outdoor space. Additionally, ElevenOneEleven will include two full floors of residential amenities and 500 parking spaces. The project team includes KFA Architecture as architect and Kimley-Horn as civil engineer. Construction is slated to commence in the fourth quarter of 2026.

October 15, 2026

Acquisitions Arizona Industrial Western

Sierra Ridge Capital Buys 123,032 SF Industrial Building in Phoenix for $31M

by Amy Works October 15, 2026

PHOENIX — Los Angeles-based Sierra Ridge Capital has acquired 3137 East Elwood Street, an industrial property in Phoenix, from Arizona-based 3137 East Elwood LLC for $31 million. Gary Cornish, Nico Burgarello, Barry Gabel, CJ Osbrink and Chris Marchildon of Newmark represented the seller in the deal. Built in 1995 and renovated in 2026, the 123,032-square-foot property features a clear height of 22 feet, 10 oversized grade-level loading doors, one truckwell, secure yard space, heavy power capacity and full HVAC coverage. Situated on 9.8 acres in Phoenix’s Southbank Business Park, the property was fully leased to three tenants at the time of sale.

October 15, 2026

Acquisitions Arizona Company News Hospitality Western

Braemar Hotels & Resorts to Sell Four Seasons Resort Scottsdale for $372M as Part of Self-Managed REIT Strategy

by Amy Works October 14, 2026

SCOTTSDALE, ARIZ. — Braemar Hotels & Resorts has entered into an definitive agreement to sell the Four Seasons Resort Scottsdale for $372 million, or $1.8 million per key, to an undisclosed buyer. The transaction includes a $10 million non-refundable earnest money deposit and is expected to close Oct. 22, subject to customary prorations and adjustments. Including anticipated capital expenditures of $23 million, the sales price represents a 6.2 percent capitalization rate on net operating income for the past 12 months ending in August 2026. The sales of these assets, in conjunction with other planned refinancing, are expected to create sufficient funds to pay the remainder of the Company Sale Fee and Master Agreement Termination Fee owed to Ashford as part of Braemar’s separation from Ashford and transition to a self-managed REIT. The completion of the separations is expected by mid-November. Pending completion of transactions, Braemar’s portfolio will include:

October 14, 2026

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