DENVER — Investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a seniors housing portfolio for $305 million. Kayne Anderson was the seller. Totaling 463 units, the portfolio features three communities located near Denver. “We are pleased to acquire this high-quality portfolio of seniors housing communities, which has demonstrated strong historical performance,” says Will Milam, head of U.S. investments at MSREI. “As people age, their real estate needs evolve, and as the first baby boomers are turning 80 this year, demand for seniors housing is rising rapidly. We expect this sector to grow nearly 5 percent annually over the next five years as this population cohort expands.” MorningStar will continue to operate the communities on behalf of the new ownership. Funds managed by MSREI currently have an ownership interest in approximately 30 senior living communities comprising 3,000 units across the United States.
WOODLAND HILLS, CALIF. — Space Investment Partners has acquired Topanga Gateway, a 123,402-square-foot grocery-anchored retail center located in Woodland Hills for $64 million. Built in 1963 and renovated in 2024, the open-air center was 97 percent leased at the time of sale. Topanga Gateway is home to several tenants including Ralphs, The Container Store, Petco, Chipotle Mexican Grill, Baskin-Robbins, Noah’s NY Bagels and FedEx. Eastdil Secured represented the buyer and the seller, a private investor, in the transaction. The purchase of Topanga Gateway follows Space Investment’s $118.5 million acquisition of Fullerton Metrocenter, a 395,703-square-foot dual-grocery-anchored center located at 1375 Harbor Blvd. in Fullerton.
PORTLAND, ORE. — JLL Capital Markets has completed the sale and financing of Morningstar at Happy Valley, an assisted living and memory care property in Portland. Confluent Development sold the property to Harrison Street, in partnership with The Springs Living, for an undisclosed price. The buyer will rebrand the 87-unit property as The Springs at Sunnyside. The Springs Living will operate the asset. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Dan Baker, Jim Dooley and Dean Ferris of JLL represented the seller. Alanna Ellis of JLL led the financing efforts on behalf of the buyer. JLL secured a five-year acquisition loan with Huntington National Bank for Harrison Street. Built in 2019, The Springs at Sunnyside offers 61 assisted living units across a mix of studios, one- and two-bedroom units in addition to 26 private memory care units. The three-story building features all-day restaurant-style dining, a 24-hour bistro, chapel, theater, library, general store, massage room, outdoor courtyards, barbecue and fire pits, beauty salon, fitness room and raised garden beds. Onsite services include wellness programs and activities, a full-time licensed nurse, 24-hour care staff and scheduled transportation.
SIGNAL HILL, CALIF. — DRA has completed the sale of Signal Hill Commerce Center, a portfolio of three industrial properties spread across four buildings in Signal Hill. An out-of-state, high-net buyer acquired the portfolio for $24 million, or $268 per square foot. The properties are located at 2698 Junipero, 2300 Walnut and 2700 Rose avenues. Michael Longo, Eric Cox, Grant Goldman, Mark Shaffer, Anthony DeLorenzo and Brian Held of CBRE represented the seller, while Greg Grant and Pete Obradovich of CBRE’s Debt & Structured Finance organized the funding. Totaling 89,438 square feet on 4.3 acres, the portfolio is 87 percent leased to 46 tenants with unit sizes ranging from 1,250 square feet to 4,176 square feet. All four buildings feature a 24-foot clear height and between 12 and 20 ground-level doors.
TUCSON, ARIZ. — Campus Invesco has acquired Wildcat Canyon Village, a student housing community located at 1050 E. 8th St. in Tucson, from Federal Home Loan Mortgage Corp. (Freddie Mac) for $8 million. Originally built in 1968, Wildcat Canyon Village features 76 units, totaling 128 beds. The property includes a value-add component offering the potential to expand to 164 beds through strategic unit conversions. Onsite amenities include a swimming pool, basketball court, picnic area with barbecue grills and a coffee bar. Additionally, the community features controlled access, package lockers, a laundry facility and free resident parking. Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller in the deal.
SURPRISE, ARIZ. — Diversified Partners has unveiled plans to develop a new 120,000-square-foot retail development within the master-planned community of Prasada in Surprise, roughly 30 miles northwest of Phoenix. The project will feature 16 acres of pad sites, shop space, auto and storage opportunities, as well as ground lease and build-to-suit options. Current confirmed tenants include a convenience store with an attached gas station, national drive-thru restaurant brands and a veterinary clinic, with additional tenants in negotiations across dining, wellness, automotive and lifestyle categories. Delaney McGroarty of Diversified will handle leasing at the property, which was designed by RKAA Architects.
ROHNERT PARK, CALIF. — SRS Real Estate Partners has completed the $17.7 million sale of Mountain Shadows Plaza, a multi-tenant retail center at 901, 941, 967 and 968 Golf Course Drive in Rohnert Park. John Redfield and Joe Chichester of SRS Capital Markets represented the seller, a special purpose vehicle controlled by Oak Cap Ventures LLC. Situated on 7.4 acres, the five-building property features 77,651 square feet of retail space. The property was 97 percent occupied at the time of sale to a variety of tenants, including Walmart Neighborhood Market, Starbucks Coffee and Anytime Fitness.
SEATTLE — Open House Westwood has completed the sale of Greenlake Terrace Apartments, a multifamily community located at 7415 5th Ave. NE in Seattle’s Green Lake neighborhood. A local family office acquired the property for $16.5 million. Built in 1986, Greenlake Terrace Apartments offers 48 apartments, secure garage parking, a bike room and updated commons areas. The buyer plans to continue the property’s value-add renovation program. Matt Kemper, Tim McKay, Dan Chhan, Jacob Odegard, Dylan Roeter and Bryon Rosen of Cushman & Wakefield represented the seller and procured the buyer in the transaction.
TORRANCE, CALIF. — CB Arcadia Partners, an affiliate of Calbay Development, has completed the disposition of a freestanding retail property located at 23865 Hawthorne Blvd. in Torrance, to Madrona F&F LLC for $8.2 million. Starbucks Coffee occupies the 2,400-square-foot property, which was delivered in 2025, on a long-term, triple-net lease. The property features a drive-thru that can accommodate 20 vehicles, plus a full-size café format with indoor and outdoor seating. Alex Kozakov and Patrick Wade of CBRE represented the seller in the deal.
SAN DIEGO — PSRS has arranged $5.6 million in refinancing for Washington Center, a shopping center in San Diego. Built in 1979, the 33,971-square-foot asset is leased to a mix of local tenants. James Mulvihill and Kevin Mulvihill of PSRS arranged the financing through one of PSRS’ correspondent life insurance company lenders. The cash-out refinance retired existing debt and provided the undisclosed borrower with additional flexibility through an option to extend the loan term.
Newer Posts