Western

Breakthrough Properties, Tishman Speyer Provide $90M Loan for 538,000 SF Life Sciences Campus in San Diego

by Amy Works July 24, 2026

SAN DIEGO — Breakthrough Properties and Tishman Speyer have provided a $90 million mezzanine bridge loan for Aperture Del Mar, a Class A life sciences campus in San Diego. The borrower, Gemdale USA, will use the proceeds to refinance an existing loan. Totaling 538,000 square feet, the four-building lab and office campus is fully occupied by Neurocrine Biosciences, a biopharmaceutical company. The campus features a standalone fitness center with a yoga studio and juice bar, outdoor event lawn, private patios, courtyard and a 1,500-stall parking garage. Aperture Del Mar serves as Neurocrine’s mission-critical global headquarters as part of a lease that funds through 2036. Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, develops and owns life sciences real estate in San Diego and other markets around the world. Tishman Speyer directly participated in the financing through its recently established debt platform.

July 24, 2026

Affordable Housing California Loans Multifamily Western

Walker & Dunlop Arranges $28.9M Loan for Refinancing of Affordable Housing Complex in Los Angeles

by Amy Works July 24, 2026

LOS ANGELES — Walker & Dunlop has arranged a $28.9 million loan for the refinancing of Billy G. Mills Manor, an affordable housing complex next to the University of Southern California in Los Angeles. Jeff Kearns and Laura Woltanski of Walker & Dunlop secured the refinancing through HUD/FHA’s Section 223(f) loan program on behalf of Watt Capital Developers. Billy G. Mills Manor features 102 affordable housing units supported by a Project-Base Section 8 Housing Assistance Payment (HAP) contract covering 100 percent of the residences. The refinancing will also fund approximately $30,000 per unit for planned renovations, including roof replacement, new windows and sliding doors throughout the property. The transaction closed simultaneously with a 20-year renewal of the property’s Project-Base Section 8 contract, preserving long-term affordability.

July 24, 2026

Acquisitions California Multifamily Seniors Housing Western

TCC Properties Sells 101-Unit Seniors Housing Property in Willits, California

by Amy Works July 24, 2026

WILLITS, CALIF. — TCC Properties has sold Redwood Meadows, a 101-unit seniors housing property in the Northern California city of Willits, to Echelon Communities for $10.8 million, or $106,931 per unit. Isaak Heitzeberg of Marcus & Millichap represented the seller in the transaction and procured the buyer in conjunction with Marcus & Millichap’s Andres Guerra. Built in 1989 on 7.1 acres, Redwood Meadows features four studio units, 58 one-bedroom residences and 39 two-bedroom apartments. Community amenities include a clubhouse, redwood garden, two laundry rooms, rentable storage units and a dog park. Located at 1475 Baechtel Road, the site also includes land with initial city approval for up to 15 additional units.

July 24, 2026

Acquisitions Arizona Healthcare Office Western

Woodside Health Divests of Healthcare, Office Campus in Glendale, Arizona

by Amy Works July 24, 2026

GLENDALE, ARIZ. — Cleveland-based Woodside Health has completed the disposition of Arrowhead Executive Center, a healthcare and office campus in Glendale. Terms of the transaction were not released. Built in 1999, the eight-building campus offers 101,000 square feet of medical office and traditional office space.

July 24, 2026

Acquisitions Industrial Washington Western

BLP Buys 782,775 SF Distribution Facility in Frederickson, Washington

by Amy Works July 23, 2026

FREDERICKSON, WASH. — Bridge Logistics Properties (BLP) has purchased a 782,775-square-foot distribution facility in Frederickson, located within the Seattle-Tacoma metro area. Terms of the transaction were not released. The property was developed by Panattoni and delivered in 2024 as part of a larger industrial development known as Fred310. Jeff Chiate and Bryce Aberg of Cushman & Wakefield facilitated the transaction. Harbor Freight Tools fully occupies the property on a long-term basis. The facility serves as a regional distribution center supporting more than 1,600 stores nationwide. The property, located at 6920 192nd St., features 40-foot clear heights, a cross-dock configuration with 152 dock-high doors and four grade-level doors, full concrete oversized truck courts, 476 trailer stalls, 262 auto parking spaces, 4,000 amps of power with expansion capability, ESFR sprinklers and separate truck and auto entrances.

July 23, 2026

Arizona Development Industrial Western

Formation Interests, Crescent Real Estate Break Ground on Phase II of Formation Park 10 in Goodyear, Arizona

by Amy Works July 23, 2026

GOODYEAR, ARIZ. — A venture between Formation Interests and an affiliate of Crescent Real Estate has broken ground on Phase II of Formation Park 10, an industrial development located just west of Phoenix in Goodyear. The three-building expansion will bring Formation Park 10 to nearly 689,000 square feet of industrial space across five buildings and 44 acres. Totaling 261,168 square feet, Phase II will accommodate occupiers seeking 100,000 square feet or more of single-tenant space and/or those requiring flexible space from 15,000 square feet to 25,000 square feet. The project team for Phase II includes Deutsche Architecture Group, Kimley-Horn, RVI and Willmeng. Completion is slated for spring 2027. CBRE is overseeing leasing for the project.

July 23, 2026

Acquisitions Retail Washington Western

Kiemle Hagood Negotiates $32M Sale of Multi-Tenant Retail Property in Spokane, Washington

by Amy Works July 23, 2026

SPOKANE, WASH. — Locally based brokerage firm Kiemle Hagood has negotiated the $32 million sale of 5 Mile Shopping Center, a multi-tenant retail center in north Spokane. An entity doing business as Romax 5 Mile LLC purchased the grocery-anchored property from 5-Mile Investment Co. I LLC. Situated on 14.2 acres at 1812 W. Francis Ave., the property features more then 163,000 square feet of retail space. Current tenants include Rosauers, Starbucks Coffee, Chipotle Mexican Grill, Taco Bell, Washington Trust Bank, Mister Car Wash, GNC and Edward Jones. Casey Brazil and Richard Fox of Kiemle Hagood represented the seller in the deal, while Colin Conway and Steve McIntosh of Kiemle Hagood represented the buyer.

July 23, 2026

Acquisitions California Retail Western

CBRE Arranges $30M Sale of Six-Building Retail Portfolio in Long Beach, California

by Amy Works July 23, 2026

LONG BEACH, CALIF. — CBRE has arranged the $30 million sale of Mosaic, a six-building retail portfolio located in downtown Long Beach. An entity doing business as Mosaic Promenade Holdings LLC acquired the property from a partnership between Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group. John Read and Erin Smith of CBRE represented the seller in the deal. Totaling 148,405 square feet, the portfolio includes 50 East 4th Street; 145 East 4th Street; 300 and 325 The Promenade North; and 480 and 590 Pine Avenue. At the time of sale, the asset was 78 percent leased. Current tenants include include Ross Dress for Less, Studio One Eleven/RDC, Ammatoli, Pacific Dental, Panda Express, Wingstop, GNC, GameStop, U.S. Army, U.S. Armed Forces and City of Long Beach, among others. The properties were constructed between 2002 and 2004.

July 23, 2026

Arizona Loans Multifamily Western

PCCP Provides $51.8M Loan for Refinancing of Apartment Community in Gilbert, Arizona

by Amy Works July 22, 2026

GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the cash-neutral refinancing of Everly at Morrison Ranch, a apartment community located in Gilbert. Built in 2025, the Class A, garden-style community features 236 apartments that were 97 percent occupied at the time of financing. Everly at Morrison Ranch, located at 4353 E. Elliot Road, includes 36 two-story buildings with an average unit size of 986 square feet. The unit mix includes one-, two- and three-bedroom floor plans with interiors featuring stainless steel appliances, quartz countertops, smart home technology, nine-foot ceilings and plank-style flooring. Community amenities include a resort-style pool and spa, private workspaces, EV charging stations, tot lot and a dog park. Select floor plans include attached or detached garages with additional detached garages available for rent. The property is self-managed by P.B. Bell.

July 22, 2026

Arizona Development Multifamily Student Housing Western

P3 Breaks Ground on 1,300-Bed Residence Hall Development at University of Arizona

by Amy Works July 22, 2026

TUCSON, ARIZ. — A public-private partnership (P3) between the University of Arizona, Mortenson and Mortenson Development has broken ground on The Catalina, a 1,300-bed residence hall project on the institution’s campus in Tucson. The community is being developed utilizing tax-exempt financing through a partnership with the Collegiate Housing Foundation and RBC Capital Markets. The nine-story development will offer suite-style units alongside a dining hall upon completion, which is scheduled for fall 2028. Further details on the project were not released.

July 22, 2026

Newer Posts

Older Posts