RENO, NEV. — LDK Ventures has completed the purchase of Reno Distribution Center, an industrial property located at 4910 Longley Lane near the Reno-Tahoe International Airport in Reno. Eric Bennet and Tomi Jo Lynch of CBRE brokered the acquisition. Totaling 300,564 square feet, the asset features four suites, warehouse and storage facilities, dedicated office space and dock-high and ground-level loading doors. The property offers direct access to SR-395 and I-580.
BEAVERTON, ORE. — A joint venture between Glencrest Group and Sky Alps Capital has acquired Cedar Square, a garden-style multifamily community at 10480 SW Eastridge St. in Beaverton, from a local owner for $29.8 million. Ira Virden, Carrie Kahn and Owen Wise of JLL Capital Markets represented the seller, while Charles Halladay and Jonah Aelyon of JLL arranged acquisition financing for the buyer. Built in 1980 with additions in 2016 and 2024, Cedar Square offers 155 one-, two- and three-bedroom apartments with patios or balconies. Onsite amenities include a fitness center, playground, laundry facilities, ample parking and abundant green space. The seller completed capital improvements, including repaving and replacing siding, windows, decks and roofs on the majority of the buildings.
PALO ALTO, CALIF. — Gantry has secured a $13.5 million permanent loan to refinance a timely maturity on a historic office building in Palo Alto. Located at 384 University Ave., the three-story property features 14,500 square feet of rentable space, including street-level retail space with two office floors above. The property is currently fully leased with a staggered lease roll. Jeff Wilcox and Joe Foley of Gantry represented the borrowers, Big Property Ventures and Baskin Investment Group, in the financing. An institutional pension fund lender provided the five-year, fixed-rate loan, which features first-year interest-only payments followed by a 25-year amortization.
DENVER — The Boulder Group has brokered the acquisition of a single-tenant property located at 18300 E. 66th Ave. in Denver. A Colorado-based 1031 exchange investor acquired the asset from a Northeast-based partnership for $5.9 million. Caliber Collision occupies the 16,785-square-foot property, which was built in 2021, on a long-term, triple-net lease. Caliber Collision is the largest repair company in the United States with more than 1,800 locations across 41 states. Zach Wright and Brandon Wright of The Boulder Group represented the buyer in the deal.
RANCHO CUCAMONGA, CALIF. — Southern California-based firms Redwood West and Panattoni, in partnership with Prime Finance and Prism Places, have acquired Victoria Gardens, a 1.2 million-square-foot lifestyle retail center located in the Inland Empire city of Rancho Cucamonga. New York City-based Brookfield Properties, a subsidiary of Brookfield Corp. (NYSE: BN), sold the open-air mall for $530 million. Ares Real Estate (NYSE: ARES) provided debt financing for the transaction. “We see tremendous opportunity with Victoria Gardens,” says John Pomer, co-founder and managing partner at Redwood West, “It is a one-of-a-kind, highly productive asset with deep roots in the region.” Built in 2004, Victoria Gardens is one of the largest regional malls in Southern California, with more than 30 buildings on 12 blocks, as reported by the Los Angeles Times. Victoria Gardens was 98 percent leased at the time of sale and attracts more than 14 million visitors a year, according to Redwood West. The center is home to 160 specialty retailers and restaurants including Apple, lululemon, Chanel, Gorjana, Sephora, Nike, Zara, AMC Theatres, Shake Shack, Tecovas, The Cheesecake Factory, Warby Parker, Fleming’s Steakhouse, Sweetgreen and Macy’s. In addition to retail and dining, Victoria Gardens features a cultural center, public library, performance venue, multiple …
SALT LAKE CITY — CRG and Utah-based Cole West have broken ground on Chapter Salt Lake City, a six-story student housing community at 410 S. 900 East in Salt Lake City. LJC, an integrated architecture and engineering firm of CRG, designed the community. Situated near the University of Utah, Chapter Salt Lake City will feature 251 studio, one-, two- and four-bedroom fully furnished units, totaling 693 beds. Shared amenities will include a fitness center with Pilates studio, a sauna, ski simulator, library and study spaces, a soda shop, rooftop lounge and rooftop pool and hot tub. Construction is underway, with delivery slated for summer 2028.
LOS ANGELES — IPA Capital Markets, a division of Marcus & Millichap, has arranged $44 million in financing for two multifamily communities in Los Angeles. Moderno Axis, located at 7650 Van Nuys Blvd. in the city’s Van Nuys neighborhood, received $28.3 million in financing. Moderno La Granada Hills, at 17454 Chatsworth St. in the Granada Hills neighborhood, received $15.7 million in financing. Anita Paryani-Rice of IPA Capital Markets secured the financing with a national bank on behalf of the private client. The five-year, fixed-rate, nonrecourse loans were structured with full-term interest-only payments, step-down prepay and no lender origination fees. Situated next to Van Nuys MetroLink and Amtrak Station, Moderno Axis offers 126 studio, one- and two-bedroom units. Community amenities include in-unit laundry, a fitness center, swimming pool, hot tub, bike storage, fire pits, a barbecue area, dog park and an onsite pet grooming spa. Located near California State University Northridge, Moderno La Granada Hills features 54 studio, one- and two-bedroom apartments with in-unit laundry and central air and heating. Onsite community amenities include a fitness center, pool with hot tub and sundeck, a dog park and onsite pet grooming, recreation room with media and gaming, a media theater, fire pit …
MONUMENT, COLO. — Inland Real Estate Acquisitions has negotiated and closed the purchase of Jackson Creek Senior Living, a 132-unit seniors housing property in Monument, approximately 20 miles north of Colorado Springs. Mark Cosenza of Inland Acquisitions, with assistance from Brett Smith of The Inland Real Estate Group, Law Department, completed the transaction. Constructed in 2017 at 16601 Jackson Creek Parkway, Jackson Creek features 27 independent living, 75 assisted living and 30 memory care units. The community also features a collective dining room with chef-prepared meals, a bistro, library, fitness center, salon, movie theater, complimentary transportation, daily resident safety checks and 24-hour concierge service. Additionally, the property is located 1.5 miles from the Tri-Lakes Health Pavilion and nine miles from UCHealth Memorial Hospital in Colorado Springs. Dial Senior Living will manage the property, which has maintained an average occupancy of 96 percent over the last year.
TACOMA, WASH. — Tacoma Public Schools (TPS) has purchased a two-building industrial property in Tacoma from Broadstone Cable LLC for $12.1 million. Located at 4401 S. Orchard St. on 6.1 acres, the asset offers 86,000 square feet of industrial space. The buyer plans to use the property for its construction and operational plans. Vladimir Olyanich and Bob Frederickson of Coldwell Banker Commercial Danforth managed the transaction for TPS.
ESCONDIDO, CALIF. — Eagle Partners has acquired an affordable housing preservation portfolio in Escondido for $162.5 million in an off-market transaction. Totaling 551 units, the portfolio includes The Hendrix Apartments and The Hadley Apartments. The adjacent communities offer one- and two-bedroom residences serving the senior demographic (55+) in North San Diego County. Eagle Partners will implement a long-term affordable preservation strategy while executing a targeted capital improvement program designed to enhance the resident experience. Community amenities include resort-style swimming pools, fitness centers, landscaped common areas, a fenced dog park and covered parking. The buyer partnered with Red Stone Equity Partners, JPMorgan Chase, The California Statewide Communities Development Authority and Affordable Housing Access to execute the transaction.
