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

Acquisitions Hawaii Retail Western

U.S. Realty Partners Disposes of Two-Property Retail Portfolio in Lahaina, Hawaii for $155M

by Amy Works October 14, 2026

LAHAINA, HAWAII — An affiliate of U.S. Realty Partners has completed the disposition of a two-property retail portfolio in Lahaina to 11North Partners for $155 million. The portfolio includes: Bryan Ley and Tim Kuruzar of Northmarq, along with Jamie Brown of Hawaii Commercial Real Estate, brokered the sale. Additionally, Northmarq’s Joe Giordani, Alex Kane and Matt Radich arranged $96 million in acquisition financing through PNC Bank.

October 14, 2026

Acquisitions Multifamily Washington Western

Cadence Real Estate Advisors Buys 132-Unit Apartment Property in Seattle

by Amy Works October 14, 2026

SEATTLE — Cadence Real Estate Advisors has acquired The Court at Northgate, a multifamily community located in the Pinehurst neighborhood of Seattle. A private seller group sold the asset for an undisclosed price. Built in 1978 on 3.3 acres, The Court at Northgate is a three-story property offering 132 studio, one- and two-bedroom apartments, a central courtyard swimming pool, clubhouse, game room, covered barbecue area and a dog park. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

October 14, 2026

Acquisitions California Office Western

Economos DeWolf Brokers $15.7M Sale of Office Property in Irvine, California

by Amy Works October 14, 2026

IRVINE, CALIF. — Economos DeWolf has arranged the sale of an office building located at 2391 Morse Ave. in Irvine. The property traded for $15.7 million, or $707 per square foot. Steve Economos and Geoff DeWolf of Economos DeWolf represented the undisclosed seller and buyer in the deal. The 22,193-square-foot building, formerly headquarters of RiverRock Real Estate Group, is renovated and offers 5 Freeway frontage.

October 14, 2026

Acquisitions Colorado Development Industrial Western

CBRE Negotiates Sale of Proposed 386,489 SF Novera Commerce Center in Westminster, Colorado

by Amy Works October 13, 2026

WESTMINSTER, COLO. — CBRE has arranged the sale of Novera Commerce Center, a proposed three-building industrial development in Westminster. Opus Development sold the project to Principal Asset Management for an undisclosed price. Todd Witty and Daniel Close of CBRE represented the seller and have been retained by the new ownership to lead leasing efforts for the development. Located at 13900 Huron St., the 386,489-square-foot project will comprise three buildings ranging from 89,000 square feet to 195,000 square feet. Slated for delivery in the second half of 2027, the development will offer flexible suite configurations, ample loading capacity, trailer parking and modern industrial specifications designed to accommodate a broad range of users. Buildings will accommodate users as small as approximately 18,700 square feet, providing flexibility for a range of occupier sizes.

October 13, 2026

Acquisitions Multifamily Washington Western

IPA Brokers Sale of Two Multifamily Communities in South Puget Sound Region

by Amy Works October 13, 2026

OLYMPIA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of two apartment properties in Olympia. Hillsboro, Ore.-based Bender Equities sold the assets to FPA Multifamily for $43.7 million, or $154,417 per unit. Situated on more than 18 acres at 3000 Cardinal Drive NW, the adjacent properties include the 170-unit Evergreen Garden Apartments and the 113-unit Rock Maple Village Townhomes. Built in 1973, Evergreen Garden Apartments features 18 two-story residential buildings with a mix of one-, two- and three-bedroom apartments, a standalone clubhouse, an open park area with a basketball court, fenced children’s playground and covered barbecue and picnic area. Completed in 2004, Rock Maple Village features a mix of one-, two- and three-bedroom layouts spread across 10 two-story residential buildings. Community amenities include a children’s playground and picnic area, a basketball court and a large open lawn. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer in the deal.

October 13, 2026

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