Western

Domain Cos., Cottonwood Group Receive $102M in Financing for Development of Kimpton Hotel in Salt Lake City

by Amy Works March 31, 2026

SALT LAKE CITY — The Domain Cos., in partnership with Cottonwood Group, has closed on $102 million in financing for the development of hotel at 370 S. West Temple in downtown Salt Lake City. Completion is slated for first-quarter 2028. Slated to operate under IHG Hotels & Resorts’ Kimpton brand, the 10-story hotel will feature 216 guest rooms, food-and-beverage options, including upscale and casual dining and a rooftop bar. Additional hotel amenities will include a fitness center, 7,000 square feet of meeting space, valet parking and indoor and outdoor terraces for year-round social and corporate gatherings. The hotel will be within walking distance of major city landmarks, such as Delta Center, Salt Pace Convention Center, City Creek Center and Restaurant Row. The project team includes Solomon Cordwell Buenz as project architect, Goodrich and Studio Mainer as interior designer and Wadman as general contractor. Stonebridge Cos. will manage the project. Matt Weiner, Jay Morrow and Dustin Stolly of Walker & Dunlop handled the financing transaction.

March 31, 2026

Colorado Loans Multifamily Western

CBRE Secures $70M Refinancing for 24Fifty at University Park Multifamily Property in Denver

by Amy Works March 31, 2026

DENVER — CBRE has arranged a $70 million refinancing for 24Fifty at University Park, a multifamily community in Denver. Brad Zampa, Mike Walker, Brady O’Donnell and Jill Haug of CBRE secured the five-year, floating-rate loan from a national debt fund for the borrower, DivcoWest. Located at 2450 S. University Blvd., 24Fifty features 252 studio, one- and two-bedroom units with modern finishes, stainless steel appliances, quartz countertops and in-unit washers/dryers. Community amenities include a rooftop pool and spa, an indoor lap pool, an outdoor terrace and grilling area, a fitness center, resident lounge and structured parking, as well as fully leased ground-floor retail space. The mid-rise community was built in 2019.

March 31, 2026

Acquisitions California Industrial Western

H.G. Fenton Buys 210,871 SF Kearny Mesa West Industrial Park in San Diego

by Amy Works March 31, 2026

SAN DIEGO — H.G. Fenton has purchased Kearny Mesa West, a multi-tenant industrial business park in San Diego, from CIM Group for an undisclosed price. Hunter Rowe, Joe Cesta, Eric Cox and Matt Carlson of CBRE represented the seller in the deal. Spanning 14 acres, the 210,871-square-foot Kearny Mesa West consists of 16 standalone industrial buildings located along Opportunity, Engineer and Ronson roads in the Kearny Mesa submarket. At the time of sale, the business park was approaching 90 percent occupancy with nearly 60 tenants at the time of sale.

March 31, 2026

Acquisitions Office Property Type Utah Western

Manova Partners Acquires 143,806 SF Office Building in Salt Lake City

by Amy Works March 31, 2026

SALT LAKE CITY — Manova Partners has purchased 60 Park Ave, a Class A office building in the Sugar House live-work-play neighborhood in Salt Lake City. Terms of the transaction were not released. CBRE marketed the property for sale. Situated on 4 acres, the six-story building offers 143,806 square feet of office space. At the time of sale, the property was 97 percent occupied by a variety of tenants, including FTP Power, Filevine, Arena Communications, RBC Capital Markets and Sotheby’s Realty. Built in 2020, the property is LEED Gold O&M certified. The property features floor-to-ceiling glass curtain walls and 360-degree views of the Wasatch mountain range and downtown skyline. Building amenities include a tenant lounge with phone pods, TV, a pool table and vending machines, a secure bike room and a 24/7 fitness center.

March 31, 2026

Affordable Housing Development Loans Multifamily Washington Western

JLL Arranges $88M Construction Loan for Multifamily Project in Shoreline, Washington

by Amy Works March 30, 2026

SHORELINE, WASH. — Evergreen Point Group has received $88 million in construction financing for Leeway, an apartment project in Shoreline. Steve Petrie, Seth Heikkila, Tom Wilson and Jake Davidson of JLL Capital Markets secured the loans through a regional bank on behalf of the borrower. Located at 142 N.E. 147th St., the seven-story property will feature 360 apartments and 3,371 square feet of ground-floor retail space. Community amenities will include a fitness center, rooftop lounge and deck, coworking spaces, a pet spa and secure parking spanning two stories of subterranean parking with 224 spaces and 49 electric vehicle charging stations. Designed as a transit-oriented development, Leeway will be connected to the Shoreline South Light Rail Station via a pedestrian bridge, being built by the city of Shoreline, across Interstate 5. Additionally, the property will participate in Shoreline’s 12-year Multifamily Tax Exemption program, with 20 percent of units restricted to affordable housing at 70 percent to 80 percent of area median income limits. The program includes a 12-year extension option.

March 30, 2026

Acquisitions California Industrial Office Retail Western

Newmark Brokers Sale of Seven-Building Stonemill Design Center Flex Office Campus in Costa Mesa

by Amy Works March 30, 2026

COSTA MESA, CALIF. — Newmark has arranged the sale of Stonemill Design Center, a flex office campus on 8.3 acres at 2915 Red Hill Ave. in Costa Mesa. Kevin Shannon, Paul Jones, Ken White, Brandon White, Chris Benton and Anthony Muhlstein of Newmark represented the undisclosed seller, an institutional investor, in the transaction. A private investor acquired the asset for an undisclosed price. Totaling 127,753 square feet, the campus features seven flex office buildings that are 94 percent leased by a diverse mix of commercial, industrial and office tenants. Situated in the Greater Airport Area submarket, the property is adjacent to SR-73 Freeway and offers proximity to South Coast Plaza.

March 30, 2026

Arizona Development Retail Western

Salt River Pima-Maricopa Indian Community, Mullin 306 Receive Approval for Costco Development in Scottsdale

by Amy Works March 30, 2026

SCOTTSDALE, ARIZ. — Salt River Pima-Maricopa Indian Community (SRPMIC) and Scottsdale-based Mullin 360 have received approval to develop a Costco at 4499 N. Pima Road in Scottsdale. The project will be the first-ever Costco store on tribal land in the United States. Spanning 21.5 acres, the project will include a 162,000-square-foot retail building and approximately 994 parking stalls. The store will include an expanded ready-to-eat section with a wide selection of grab-and-go meals, as well as a food court. A formal groundbreaking will be planned for June 2026.

March 30, 2026

Acquisitions Arizona Multifamily Western

EMZ Equity Group Sells 24-Unit Alvernon Apartments in Tucson

by Amy Works March 30, 2026

TUCSON, ARIZ. — EMZ Equity Group has completed the sale of Alvernon Apartments, a multifamily community in Tucson, to Alvernon Coyote LLC for $1.8 million. Located at 2053 and 2099 N. Alvernon Way, the 13,200-square-foot complex features 24 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the seller and buyer in the deal.

March 30, 2026

Arizona Development Mixed-Use Top Stories Western

Mack Real Estate, McCourt Break Ground on $7B Halo Vista Mixed-Use Development in North Phoenix

by Taylor Williams March 30, 2026

PHOENIX — A partnership between Mack Real Estate Group and McCourt Partners has broken ground on Halo Vista, a $7 billion mixed-use development in North Phoenix that has been billed as a “city within a city.” Situated adjacent to the Taiwan Semiconductor Manufacturing Co. (TSMC) campus, the 2,300-acre master-planned project is designed to be a global hub for science, innovation and community. The initial phase of construction will focus on crucial horizontal infrastructure and site preparation, with work led by Phoenix-based Willmeng Construction. The master plan for the site includes nearly 30 million square feet of industrial, office, retail, residential and educational uses. Companies that have already committed to Halo Vista include Costco and Marriott, which plans to develop a five-story, dual-branded hotel under the Courtyard and Residence Inn brands. Those announcements came in October. In addition, DeRito Partners is planning an “auto mall” at Halo Vista that will feature approximately 10 dealership facilities. These developments are part of the first phase of commercial space that is planned along I-17 and Dove Valley Road and is designed to serve the thousands of workers and residents anticipated to join the Halo Vista community. “Northwest Phoenix has always had strong neighborhoods and a …

March 30, 2026

Acquisitions Hospitality New Mexico Western

Ashford Hospitality Trust Sells La Posada de Santa Fe Historic Resort in New Mexico

by Amy Works March 27, 2026

SANTA FE, N.M. — Ashford Hospitality Trust has competed the disposition of La Posada de Santa Fe, a Tribute Portfolio Resort & Spa, to Abo Sada LLC for an undisclosed price. Kami Burnette and Brian Embree of Hunter Advisors represented both parties in the transaction. Situated on more than 5 acres in downtown Santa Fe, La Posada features 157 guest rooms and suites, multiple food-and-beverage venues, a full-service spa and approximately 7,700 square feet of meeting space. The resort’s dining options include several distinct outlets, including the historic Staab House lounge.

March 27, 2026

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