RENO, NEV. — Reno-based Metcalf Builders has broken ground on Skyline Flats, an affordable housing development in Reno. Developed in partnership with Dominium, the 570,663-square-foot community will feature 14 residential buildings offering a total of 402 apartments. Residences will offer in-unit laundry and modern finishes. The property will feature sustainable components, including an onsite solar energy system to offset common-area and operational energy demands. Additionally, the community will incorporate modern energy-efficiency, accessibility and life-safety standards throughout. Construction of Skyline Flats is underway, with completion slated for January 2029.
LAS VEGAS — The Bascom Group has refinanced Gateway Villas Apartments in Las Vegas with a $30.8 million loan. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA Capital Markets arranged the financing, with Bridge Investment Group providing the loan. The Bascom Group acquired the 200-unit community in December 2021. Gateway Villas was constructed in 1984 and 1985 and comprises one- and two-bedroom units and a pool, clubhouse, fitness center, putting green and grilling area. Bascom completed a renovation program during its hold that updated amenities and repurposed the putting green into a central park with a shaded play structure.
FOUNTAIN VALLEY, CALIF. — SlateView Capital has completed the acquisition of Parkview Estates, a 151-unit assisted living and memory care community located in Fountain View, approximately 40 miles southeast of Los Angeles. Amenities at the property, which was completed in 2021, include restaurant-style dining, activity spaces, a fitness and therapy area, a salon and a theater. The seller and sales price were not disclosed. This marks the second acquisition for SlateView since the firm’s inception. Azhar Jameeli, formerly of IRA Capital, and Kendall Young established SlateView in late August.
PALM SPRINGS, CALIF. — Slatt Capital has arranged a $12 million loan to refinance Gene Autry Plaza, a 60,629-square-foot multi-tenant retail center located in Palm Springs. Michael Kaplan and Andrew Friedeberg of Slatt Capital arranged the five-year permanent loan, which was structured with a 30-year amortization schedule, through a life insurance company on behalf of the unnamed borrower. Smart & Final Extra! anchors Gene Autry Plaza, which was built in 2009. Additional tenants at the property include Staples, Sports Clips, Goody’s Café, Panera Bread, Firehouse Subs and Five Guys.
FAIRFIELD AND VACAVILLE, CALIF. — Newmark has brokered the sale of NorthBay Health Medical Outpatient Building Collection in Northern California’s Solano County. Totaling 222,073 square feet, the six fully leased healthcare buildings are located in Fairfield and Vacaville, Calif. NorthBay Health fully occupies the portfolio, which comprises five medical outpatient facilities and NorthBay Health’s office headquarters. HealthCare Foundation acquired the portfolio for $130 million. Ben Appel, Justin Shepherd, Jay Miele, John Naro, Michael Greely and Ron Ott of Newmark advised the undisclosed seller in the deal.
DENVER — Colliers Denver Investment Services Group has arranged the sale of 4001 Holly Street, a multi-tenant industrial building on 2.5 acres in Denver’s North Central submarket. DMS Real Estate sold the asset to Watumull Properties Corp. for $8.5 million. T.J. Smith, Nick Rice and Brad Calbert of Colliers Denver Investment Services Group represented the seller in the deal. At the time of sale, the 53,740-square-foot property was fully leased to three tenants. The building is demised into five small-bay units, each with dock-high and drive-in loading, and includes a fenced, paved and lighted outdoor storage yard.
SAN DIEGO — Pacific Coast Commercial has arranged the sale of an office property located at 2831 Camino del Rio S in San Diego. An entity doing business as Camino Del Rio South LLC sold the asset to 2381 Camino Del Rio South LLC for $6.2 million. Tommas Golia, Jason Vieira and Colton Speas of Pacific Coast Commercial represented the seller, while the buyer was self-represented in the deal. Stewart Title Guaranty Co. handled escrow and title services for the transaction.
RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners has negotiated the $6 million sale of Allmark Plaza, a 16,926-square-foot retail center located in Rancho Cucamonga. Built in 1986, Allmark Plaza was fully leased at the time of sale to tenants including Domino’s Pizza, Mini-Mart, a nutrition shop, Mexican restaurant, diet center, salon, donut shop, day spa, dry cleaners and a dental office. Lance Mordachini and Monica Dal Bianco-West of Progressive represented the buyer, a California-based private investor. The seller, Allmark Property Management, represented itself.
LAKEWOOD, CALIF. — Faris Lee Investments has arranged the sale of a 97,319-square-foot portion of Lakewood Center, a retail center in Lakewood. A consortium of multiple owners sold the asset to an undisclosed seller for $37.3 million. Situated on 5 acres within Lakewood Center, the sold portion is leased to tenants including Burlington, 24 Hour Fitness and Bank of America. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee represented the seller in the deal. This is the second large portion of Lakewood Center that Faris Lee has sold this year, culminating in a total of $76 million. Lakewood Center occupies a full city block at four major signalized intersections. Major retailers at the center include Costco, Target, The Home Depot and Albertsons.
LAS VEGAS — The Bascom Group has obtained a $30.8 million loan for the refinancing of The Gateway Villas Apartments, a multifamily property in Las Vegas. Bascom acquired the garden-style property, which was built in 1984 and 1985, in an off-market transaction in December 2021. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of Institutional Property Advisors (IPA) Capital Markets arranged the financing, with Bridge Investment Group providing the $30.8 million loan. Apartment Management Consultants will continue providing property management services for the community. Gateway Villas features 200 one- and two-bedroom apartments with private patios or balconies. Community amenities include a fitness center, resident clubhouse, pool, barbecue area and a putting green.
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