Western

Tides Equites Sells Apartment Complex in Phoenix for $41M

by Amy Works June 29, 2026

PHOENIX — Tides Equities has sold Tides on McDowell, a multifamily community located at 4620 W. McDowell Road in Phoenix, to Houston-based Nitya Capital for $41 million. Jesse Hudson, Logan Baca and Chris Michl of Northmarq’s Phoenix office represented the Los Angeles-based seller. Built in 1985 on 13 acres, Tides on McDowell features 27 two-story buildings with studio, one- and two-bedroom floor plans. The property features a mix of renovated, partially upgraded and original-condition units. Amenities include a pool, soccer field, playground, leasing office, fitness center, outdoor grilling area, clubhouse, laundry facilities and gated access.

June 29, 2026

Acquisitions Arizona Multifamily Western

Rise48 Equity Acquires 108-Unit Multifamily Property in North Phoenix

by Amy Works June 29, 2026

PHOENIX — Rise48 Equity has acquired a 108-unit multifamily property located at 17840 N. Black Canyon Highway in North Phoenix. The company will rebrand the asset as Rise at the Northern. Terms of the transaction were not released. Rise48 plans to implement a light value-add renovation strategy to the property, which was originally built in 1983. The improvement program includes the implementation of a bulk cable program, valet trash service, installation of carport parking and operational efficiencies across property management. The initiatives are projected to increase rents by approximately $89 per unit though a combined amenity free, while maintaining affordability relative to the surrounding market, according to Rise48.

June 29, 2026

Arizona Development Multifamily Western

NexMetro Opens 108-Unit Avilla Foothills BTR Project in Metro Phoenix

by Amy Works June 29, 2026

SURPRISE, ARIZ. — NexMetro Communities has opened Avilla Foothills, a build-to-rent (BTR) development in Surprise, about 28 miles northwest of Phoenix. Avilla Foothills features 108 single-level homes, some with optional garages. Community amenities include a resort-style pool and hot tub, outdoor kitchen and grills, landscaped open spaces, covered parking, 24-hour maintenance team and pet parks.

June 29, 2026

Affordable Housing Loans Multifamily Washington Western

Great Expectations Receives Construction Financing for 102-Unit Affordable Housing Project Addison in Puyallup, Washington

by Amy Works June 29, 2026

PUYALLUP, WASH. — Great Expectations, a Seattle-based affordable housing developer, has received an undisclosed amount of construction financing for Addison Grove, a 102-unit affordable housing project in Puyallup, 36 miles south of Seattle. According to the Washington State Housing Finance Commission, the project cost is approximately $34.2 million. Great Expectations acquired the site in April, but a construction timeline for the development has not be released. All units will be rent restricted for residents earning between 50 and 80 percent of area median income, guaranteed for 60 years. Addison Grove was financed without tax credits, instead leveraging a subordinate loan from the Washington Family Housing Fund and recycled tax-exempt bonds. The structure preserves affordability by pairing 60-year income restrictions with lower-cost tax-exempt debt and forgivable subordinate capital, reducing the amount of conventional debt the property must support through rent revenue. CBRE and Heritage Bank are permanent lenders.

June 29, 2026

California Loans Retail Western

Walker & Dunlop Arranges $46M Loan for Refinancing of Retail Center in Rosemead, California

by Amy Works June 26, 2026

ROSEMEAD, CALIF. — Walker & Dunlop has arranged a $46 million loan for refinancing for a retail center in the Southern California city of Rosemead. Trevor Fase and Lynn Pearson of Walker & Dunlop Capital Markets Real Estate Finance team secured the fixed-rate, interest-only permanent debt loan. Joel Minugh and James Ko of Wells Fargo provided the loan for the borrower, a family office. Located on Rosemead Boulevard, Rosemead Place features 336,718 square feet of retail space. Current tenants include Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty and Dollar Tree.

June 26, 2026

Building-8-Gilbert-Spectrum-Business-Park-Gilbert-AZ

Arizona Development Industrial Western

SunCap Property, Inclenberg Investments Break Ground on Final Building at Gilbert Spectrum Business Park in Arizona

by Amy Works June 26, 2026

GILBERT, ARIZ. — SunCap Property Group and Inclenberg Investments have broken ground on the final building at Gilbert Spectrum Business Park, an eight-building master-planned development a decade in the making. Slated for completion in second quarter 2027, the building will feature 101,000 square feet of speculative industrial space. Graycor is serving as general contractor for the building, with Lee & Associates Arizona handling leasing efforts for for the property. The project team includes Balmer Architectural Group and Bowman as civil engineer.

June 26, 2026

Acquisitions Arizona Industrial Western

Stos Partners Buys Industrial Building in Tempe, Arizona for $5.7M

by Amy Works June 26, 2026

TEMPE, ARIZ. — Stos Partners has bought an industrial warehouse, located at 525 S. McClintock Drive in Tempe, from a private owner for $5.7 million. Situated on 2.6 acres, the property offers 40,023 square feet of industrial space. Built in 1975, the building features 14-foot clear heights, six grade-level loading doors, approximately 6,000 square feet of office space, HVAC throughout the warehouse and offices areas and more than 1,000 amps of power. Originally developed as a six-tenant industrial building, the property was most recently occupied by a single user. Stos Partners plans to implement a comprehensive renovation program to transform the Class B asset into a modern multi-tenant industrial facility designed to serve a range of small-bay warehouse users. Upon completion of renovations, the building will offer five to six suites ranging from 5,000 square feet to 12,500 square feet. Planned improvements will include construction of new speculative office space, reconfiguration of the warehouse into multiple tenant suites, upgrades to the parking lot, building façade and landscaping, warehouse enhancements, installations of new white scrim, HVAC replacements, roof resurfacing and new property signage. Jack Tate and Payton Kruidenier of Ross Brown Partners represented the buyer and seller in the transaction.

June 26, 2026

Affordable Housing California Multifamily Western

C&C Development, Riverside Charitable Corp. Open 60-Unit Affordable Housing Community in Irvine, California

by Amy Works June 26, 2026

IRVINE, CALIF. — C&C Development, in partnership with Riverside Charitable Corp., has opened Cartwright Family Apartments, an affordable housing community in Irvine. Situated on 1.6 acres at 17861 Cartwright Road, the property features 60 apartments for households earning between 30 and 80 percent of the Orange County, Calif., area median income, with a portion of the units designated for veterans. Additionally, Cartwright Family Apartments includes a leasing presence for current Irvine residents or persons employed by the city. Designed by KTGY, Cartwright Family Apartments consists of four single-story residential buildings with 15 one-bedroom, 17 two-bedroom and 28 three-bedroom units with private balconies. Community amenities include a courtyard with pool, barbecue pavilion, tot lot, bike storage, community room with a kitchen, computer room, laundry room, leasing office and a supportive services manager office. At its opening, the property was 100 percent leased.

June 26, 2026

Market Reports Nevada Retail Western Western Market Reports

Las Vegas’ Retail Market Holds Firm as Growth Moderates

by John Nelson June 26, 2026

— By Hillary Steinberg of Avison Young — The Las Vegas retail market delivered a mixed but resilient performance in 2025, with vacancy remaining tight and demand holding steady. Vacancy closed the year at 5.6 percent with nearly 5.6 million square feet of available space. While these fundamentals reflect a healthy market, rent growth softened, increasing by just 2.4 percent year over year. At the same time, development activity remains robust, with roughly 880,000 square feet of retail space currently under construction. New projects continue to emphasize mixed-use and experiential concepts, positioning the market to capture sidelined capital and evolving consumer demand in the year ahead. Vacancy held steady at 5.6 percent in fourth-quarter 2025, supported by sustained population growth, a continued rebound in tourism and stable consumer spending. This momentum is being reinforced by Las Vegas’ economic diversification, which continues to fuel expansion across food, wellness and entertainment retail segments. Although rent growth has moderated from its 2022 peak, leasing fundamentals remain strong. Limited availability continues to favor landlords, who are maintaining pricing power and offering minimal concessions. However, rising construction and tenant improvement costs are placing upward pressure on deal economics. With inventory across Las Vegas, North Las …

June 26, 2026

Loans Multifamily Oregon Western

Walker & Dunlop Arranges $128M Loan for Refinancing of Four-Property Multifamily Portfolio in Eugene, Oregon

by Amy Works June 25, 2026

EUGENE, ORE. — Walker & Dunlop has arranged $128.2 million loan for the refinancing of a four-property multifamily portfolio in Eugene. Steven Natale of Walker & Dunlop Capital Markets Real Estate Finance secured the financing on behalf of an undisclosed local client. Utilizing Fannie Mae’s Streamline Early Rate Lock program, the four loans were rate locked only 25 days after receipt of a signed application. Totaling 986 units, the portfolio includes the 280-unit River Terrace, the 254-unit Parkside, the 252-unit The Bailey at Amazon Creek and the 200-unit Crescent Park.

June 25, 2026

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