Western

GreenRock Capital, J.P. Morgan Close $103M in Financing for Ontario Airport Hotel and Conference Center in California

by Amy Works May 12, 2026

ONTARIO, CALIF. — GreenRock Capital, with J.P. Morgan as underwriter, has closed $103 million in financing for the Ontario Airport Hotel and Conference Center in Ontario. The $103 million package pairs $26 million in tax-exempt C-PACE bonds with $77 million in tax-exempt mortgage revenue bonds. The financing was placed with municipal bond investors. National CORE owns the asset, which is being converted into the Hyatt Regency Ontario through a comprehensive renovation and repositioning process. Financing proceeds will support the redevelopment of the existing 309-room hotel into a 295-room Hyatt Regency. The new property will feature expanded suites, fully renovated guest rooms and commons area, a redesigned lobby, upgraded food-and-beverage offerings, a new Club Lounge and more than 16,000 square feet of meeting space. Keaton Yellin of JLL Capital Markets arranged the financing. Fred Schuster of FGS Realty Advisors assisted the sponsor with the transaction.

May 12, 2026

Colorado Loans Multifamily Western

PCCP Provides $78M Refinancing for Multifamily Property in Denver

by Amy Works May 12, 2026

DENVER — PCCP has provided a $78 million loan to Trammell Crow Residential for the refinancing of Alexan Evans Station in Denver. The 367-unit property, located at 2121 S. Broadway, was built in 2023 and is LEED Gold-certified. The community offers a mix of studio, one-, two- and three-bedroom units and 7,334 square feet of ground-floor retail space leased to F45, SweatHouz and Pacific Dental Services. Amenities include a pool and hot tub with cabanas, a fitness center, coworking spaces and a conference center, electric vehicle charging and an onsite convenience market.

May 12, 2026

Acquisitions California Multifamily Western

B.A.G. Investments Buys 104-Unit Apartment Community in Downey, California

by Amy Works May 12, 2026

DOWNEY, CALIF. — B.A.G. Investments has acquired Parc @ 5, a 104-unit garden-style multifamily asset located in Downey, approximately 13 miles from downtown Los Angeles. Parc @ 5 Downey LLC sold the asset for an undisclosed price. Parc @ 5 features 20 one-bedroom units, 64 two-bedroom units and 20 three-bedroom units. Shane Shafer of Colliers represented the seller in the transaction.

May 12, 2026

Acquisitions California Restaurant Retail Western

Progressive Real Estate Partners Brokers $2.8M Sale of Restaurant Building in Ontario, California

by Amy Works May 12, 2026

ONTARIO, CALIF. — Progressive Real Estate Partners has arranged the purchase of a freestanding restaurant building located at 4605 Mills Circle in Ontario. A private investor acquired the asset for $2.8 million. Wienerschnitzel fully occupies the 2,739-square-foot building, which was built in 1998 and renovated in 2017. Lance Mordachini and Greg Bedell of Progressive Real Estate Partners represented the buyer, while David Lin of Kotai Commercial represented the seller, a private investor, in the deal.

May 12, 2026

Development Retail Utah Western

CenterCal, Perry Commercial Break Ground on Whole Foods-Anchored Retail Development Near Salt Lake City

by Amy Works May 11, 2026

LEHI, UTAH — CenterCal Properties, in partnership with Perry Commercial, has broken ground on The Collective at Morning Vista, a 134,000-square-foot retail development located in Lehi’s Silicon Slopes district, roughly 25 miles south of Salt Lake City. Whole Foods Market will anchor the property. Additional confirmed tenants include Bamboo Sushi, VIO Med Spa and Petfolk Veterinary & Urgent Care. The Collective at Morning Vista will also feature a central community park and outdoor gathering space, as well as outdoor patios and activation areas. The construction timeline was not released.

May 11, 2026

Arizona Development Multifamily Seniors Housing Western

Investcor to Develop 117-Unit Seniors Housing Community Near Phoenix

by Amy Works May 11, 2026

QUEEN CREEK, ARIZ. — Investcor has announced plans for Mojave Sage, a new luxury seniors housing community to be located in Queen Creek, roughly 40 miles southeast of Phoenix. Komo Architecture is designing the project, and KBE Building Corp. will serve as the general contractor. Construction is expected to be underway by June. Upon completion, Mojave Sage will total 117 assisted living and memory care units. Amenities at the community will include a full-service beauty salon, fitness and wellness center, movie room, gathering areas, private courtyards, outdoor spaces, gardening programs, a dog park and onsite store.

May 11, 2026

Acquisitions California Office Western

Peninsula Land & Capital Buys 124,724 SF Lincoln Court Office Building in Campbell, California

by Amy Works May 11, 2026

CAMPBELL, CALIF. — Peninsula Land & Capital has acquired Lincoln Court, a three-story office building in Campbell, from an undisclosed seller for $24.6 million. Located at 2105 S. Bascom Ave., Lincoln Court offers 124,724 square feet of multi-tenant office space on a 4.2-acre site. The asset was originally built in 1986 and renovated in 2021. Prior ownership invested nearly $6 million in capital improvements, including a renovated courtyard, lobby and locker rooms with showers, as well as a new common area conference center and fitness center. At the time of sale, Lincoln Court was 56 percent leased to 25 tenants. Steven Golubchik, Edmund Najera, Darren Hollak and Brendan Raney of Newmark represent the seller in the deal.

May 11, 2026

Acquisitions California Industrial Western

Lee & Associates Brokers $11.5M Sale of Industrial Property in Escondido, California

by Amy Works May 11, 2026

ESCONDIDO, CALIF. — The Little Dragovic Team of Lee & Associates – North San Diego County has negotiated the sale of an industrial property located at 410, 414 and 416 Hale Ave. in Escondido. An entity doing business as Hale Holdings LP/Raymer Properties LP sold the asset to Mariste Enterprises LP for $11.5 million. Ne-Mo’s Bakery fully occupies the property and has been the original tenant since the building was delivered in 1975. Ne-Mo’s Bakery uses the facility for corporate office space, baking, food processing, cooler/freezer storage, dry good storage, warehousing and distribution for its signature individually wrapped cakes and sweet baked goods. The asset consists of 59,757 square feet of industrial space located on three contiguous parcels of land spanning 369 acres. The property’s underlying M1 zoning allows industrial outside storage (IOS). Marko Dragovic, Isaac Little and Olivia Baffert of the Little Dragovic Team, Lee & Associates – North San Diego County represented the seller, while Ryan Turnquist and Matt Skogebo of Lee & Associates – Riverside represented the buyer in the deal. The buyer plans to hold the property as a long-term investment.

May 11, 2026

California Hospitality Loans Western

Ensemble Investments Receives $110M Loan for 250-Room Hotel NIA in Menlo Park, California

by Amy Works May 8, 2026

MENLO PARK, CALIF. — Ensemble Investments has obtained $110 million in financing for the refinancing and fund closing costs for Hotel NIA, an operating, full-service hotel in Menlo Park. Madison Realty Capital, working with Newfound Holdings, originated the loan for the borrower. Offering 250 guest rooms, the hotel operates as part of Marriott’s Autograph Collection and is the only full-service hotel within the Menlo Gateway campus. Hotel NIA features 241 standard rooms, nine suites, three food-and-beverage outlets, a heated outdoor pool and jacuzzi, 24-hour fitness center and 301 valet parking spaces. Additionally, the hotel offers 15,345 square feet of indoor and outdoor meeting and event space, including the 4,968-square-foot Brilliance Ballroom. Ensemble plans to transition hotel operations in-house to Ensemble Hospitality, its affiliated management platform.

May 8, 2026

Colorado Loans Multifamily Western

Walker & Dunlop Arranges $68.2M Refinancing for Multifamily Property in Arapahoe County, Colorado

by Amy Works May 8, 2026

ARAPAHOE COUNTY, COLO. — Walker & Dunlop has secured a $68.2 million loan for the refinancing of Madison at Copperleaf, a 330-unit multifamily community in unincorporated Arapahoe County. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Sean Reimer, Michael Ianno, Christopher de Raet and Jason Schwartzberg of Walker & Dunlop Capital Markets Institutional Advisory, along with Justin Nelson and P.J. Feichtmeier of Walker & Dunlop Capital Markets Real Estate Finance, arranged the three-year, floating-rate bridge loan for the borrowers, BMC Investments and Rockpoint. Prime Finance provided the loan. Located at 22500 E. Radcliff Circle, Madison at Copperleaf features one-, two- and three-bedroom layouts. Community amenities include a clubhouse with coworking spaces, a resort-style pool and spa, fitness and yoga studios, a sauna, children’s playroom, dog park and pet spa, EV charging and outdoor gathering areas.

May 8, 2026

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