Western

Wood Partners Sells 278-Unit Alta Rise Multifamily Community in Gilbert, Arizona

by Amy Works May 29, 2026

GILBERT, ARIZ. — Wood Partners has completed the disposition of Alta Rise, an apartment property in Gilbert. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Terms of the transaction were not released. Completed in 2025, Alta Rise features 278 apartments with walk-in closets with built-in shelving, kitchens with quartz countertops, soft-close cabinetry and French door refrigerators. The four-story community includes a fourth-floor lounge and Skydeck, a bodega, speakeasy, lawn with yard games and a firepit, a multipurpose field, pickleball courts and a swimming pool and spa.

May 29, 2026

Colorado Hospitality Loans Western

Stout Street Hospitality Receives Refinancing for Magnolia Hotel Denver

by Amy Works May 29, 2026

DENVER — Stout Street Hospitality has closed on refinancing for Magnolia Hotel Denver, a Tribute Portfolio Hotel by Marriott, in downtown Denver’s central business district. Mike Huth, Wyatt Krapf and Henry Winchester of JLL Hotels & Hospitality secured the loan through PPM America for the borrower. Originally constructed in 1910 as a First National Bank facility, the property was converted to a boutique hotel in 1995. Magnolia Hotel Denver features 297 guest rooms and suites with 12-foot ceilings and expansive windows, more than 13,450 square feet of flexible meeting and event space across 12 distinct venues, including the 3,800-square-foot 17th by Magnolia ballroom with a 25-foot-tall glass atrium ceiling and art deco-inspired decor. Additionally, the hotel includes Harry’s restaurant and bar serving seasonal American cuisine for three meals daily. Magnolia Hotel Denver serves as Stout Street Hospitality’s flagship property with the company’s corporate headquarters located in the building.

May 29, 2026

Acquisitions California Industrial Self-Storage Western

Bancap Self Storage Group Brokers Sale of Two Properties Totaling 315 Units in Corning, California

by Amy Works May 29, 2026

CORNING, CALIF. — Bancap Self Storage Group has arranged the sale of two self-storage properties operated together in Corning. A private family trust sold the assets to a local group for an undisclosed price. Dean Keller of Bancap Self Storage Group represented the seller in the transaction. Airport Mini Storage and Affordable Mini Storage offer a combined nearly 52,000 net rentable square feet with 315 units. At the time of sale, the portfolio was fully occupied.

May 29, 2026

Acquisitions Arizona Retail Western

Marcus & Millichap Arranges $9.7M Sale-Leasebacks of Two Car Washes in Arizona

by Amy Works May 29, 2026

TUCSON AND GLENDALE, ARIZ. — Marcus & Millichap has negotiated the sales of two single-tenant Super Star Car Wash properties in Tucson and Glendale for a combined $9.7 million. Super Star Car Wash sold the assets to two separate buyers for a combined $9.7 million in sale-leaseback transactions. The Tucson property, located at 8690 E. Golf Links Road, sold for $4.7 million. Built in 2024, the 4,226-square-foot car wash sits on approximately 1.2 acres. The Glendale property, located at 5131 W. Olive Ave., sold for $5 million. Completed in 2025, the 4,620-square-foot asset occupies approximately 1.1 acres. Founded in 1993, Super Star Car Wash operates approximately 117 locations across Arizona, California, Colorado and Texas. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office marketed the Tucson property on behalf of the seller and procured the buyer. In the Glendale deal, the team represented the buyer, a family trust, and the seller in the off-market sale.

May 29, 2026

California Loans Multifamily Western

Walker & Dunlop Structures $101.6M HUD-Insured Loan for Refinancing of Apartment Property in Chula Vista

by Amy Works May 28, 2026

CHULA VISTA, CALIF. — Walker & Dunlop has arranged a $101.6 million HUD 223(f) loan to refinance Enclave Heritage Flats, an apartment community in Chula Vista. Enclave Heritage Flats features 312 one-, two- and three-bedroom apartments. Community amenities include a fitness center, resort-style swimming pool, movie screening theater, coworking spaces, outdoor gathering areas and pet-friendly accommodations. Baldwin Asset Management is the property manager. Gregory Richardson and Jeff Kearns of Walker & Dunlop Capital Markets Real Estate Finance and Walker & Dunlop Affordable Housing secured the financing on behalf of The Baldwin Co. The loan refinances existing debt that Walker & Dunlop arranged in 2024.

May 28, 2026

Affordable Housing California Development Multifamily Western

MidPen, EPACANDO Open 136-Unit Affordable Housing Community in East Palo Alto, California

by Amy Works May 28, 2026

EAST PALO ALTO, CALIF. — MidPen Housing and the East Palo Alto Community Alliance Neighborhood Organization (EPACANDO) have opened Colibri Commons, a 136-unit affordable housing community at 965 Weeks St. in East Palo Alto. The property’s 136 studio, one-, two-, three- and four-bedroom units are reserved for tenants earning no more than 60 percent of the area median income. Community amenities include a community room, an outdoor play area and free onsite services such as nutrition classes, adult education and after-school programming. MidPen Property Management is the property manager. Financing for Colibri Commons was provided through multiple public and private sources. The project team included David Baker Architects and Blach Construction.

May 28, 2026

California Loans Retail Western

PSRS Arranges $27M Refinancing Loan for Retail Center in Encino, California

by Amy Works May 28, 2026

ENCINO, CALIF. — PSRS has arranged a $27 million loan for the refinancing of a shopping center in Encino. Michael Tanner and David Sarnoff of PSRS secured the 10-year loan, which features a 30-year amortization schedule, through a correspondent life insurance company for the undisclosed borrower. The 140,161-square-foot shopping center features 52 rentable suites occupied by a variety of tenants, including destination retailers, food-and-beverage chains, personal services and medical/professional offices, and 400 parking spaces.

May 28, 2026

Industrial Loans Washington Western

Gantry Secures $16M Refinancing for Kirkland Business Center in Washington

by Amy Works May 28, 2026

KIRKLAND, WASH. — Gantry has secured a $16 million permanent loan for the refinancing of Kirkland Business Center, located at 11860 N.E. 112th St. in Kirkland, a suburb east of Seattle. Originally developed in 1962 and 1969, the 104,000-square-foot industrial asset is fully leased to multiple tenants. Mike Wood, Mike Taylor and Tim Brown of Gantry arranged the seven-year, fixed-rate loan, which was provided by one of Gantry’s correspondent insurance companies. The financing features cash-out proceeds with full-term interest-only payments. Gantry will service the loan on behalf of the lender. The name of the borrower was not released.

May 28, 2026

Arizona Colorado Indiana Loans Minnesota Multifamily Top Stories

Harbor Group, Garrett Cos., Telis Group Receive $351M Refinancing for Multifamily Portfolio

by Hayden Spiess May 28, 2026

NORFOLK, VA. — Affiliates of Harbor Group International, in partnership with The Garrett Cos. and Telis Group, have received a $351 million loan for the refinancing of an eight-property multifamily portfolio across four states. ACRE, a vertically integrated real estate fund manager, provided the financing. Totaling 1,573 units, the portfolio is located in Arizona, Colorado, Indiana and Minnesota, with properties in the Denver, Colorado Springs, Phoenix, Indianapolis and Minneapolis metropolitan areas. The communities included in the portfolio were developed between 2024 and 2026 and are part of a larger, 11-property portfolio that was refinanced by the borrowers in January 2025. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Rimer, Michael Ianno, Nicholas Gillhooley, Craig West, Kevin Walsh and Holden Barry of Walker & Dunlop Capital Markets secured the loan on behalf of the borrowers. “This refinancing represents another important milestone for the portfolio and highlights the collaborative approach among all parties involved,” says Eric Garrett, CEO of The Garrett Cos. “We continue to see strong operating performance across the assets and remain confident in the long-term fundamentals supporting these markets.” Headquartered in Norfolk, Va., Harbor Group International is a privately owned global real estate investment and management …

May 28, 2026

Acquisitions Industrial Self-Storage Washington Western

Commune Capital Sells Self-Storage Property in Bellevue, Washington for $50.7M

by Amy Works May 27, 2026

BELLEVUE, WASH. — Commune Capital has completed the disposition of a self-storage property located at 12399 Northup Way in Bellevue. Premier Storage Investors acquired the asset for $50.7 million. Mike Mele, Luke Elliott, Jim Lewis and Steffan Brown of Cushman & Wakefield represented the seller in the transaction. Built in 2016 on 1.2 acres, the Class A 103,397-square-foot self-storage facility features 988 climate-controlled and drive-up units. At the time of sale, the property was 93 percent occupied.

May 27, 2026

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