Western

CEDARst Cos. Obtains $80M Construction Loan for The Samuel Multifamily Property in San Diego

by Amy Works September 3, 2026

SAN DIEGO — Chicago-based CEDARst Cos. has obtained an $80 million construction loan to develop The Samuel, a 197-unit apartment community in San Diego’s North Park neighborhood. Zach Kersten, Jack Wood and Ben Choromanski of JLL arranged the three-year, floating rate loan through Boston-based CrossHarbor Capital Partners. Located at 2821 Adams Ave., The Samuel will be an eight-story development comprised of studios, one- and two-bedroom units. Community amenities will include a pool, fitness center, coworking lounge, fire pits, game deck and a rooftop lounge with an outdoor kitchen. Construction is expected to begin later this year with completion slated for the fourth quarter of 2028.

September 3, 2026

California Development Multifamily Student Housing Western

Gilbane, CBRE Complete 484-Bed Student Housing Project Near University of California, Berkeley

by Amy Works September 3, 2026

BERKELEY, CALIF. — A partnership between Gilbane Development and CBRE Investment Management has completed Pique, a 484-bed student housing development located at 2587 Telegraph Ave. near the University of California, Berkeley campus. Construction of the property was announced and underway in October 2025. The eight-story community offers 53 units in four-, five- and six-bedroom configurations with bed-to-bath parity. Shared amenities include an indoor/outdoor yoga and fitness center, outdoor study terraces, two rooftop decks, a community terrace, co-working lounge and smart food lockers and private study pods on each floor. The property also features 2,900 square feet of ground floor retail space.

September 3, 2026

California Industrial Loans Western

PSRS Arranges $14M Loan for Refinancing of Industrial Flex Facility in Irvine, California

by Amy Works September 3, 2026

IRVINE, CALIF. — PSRS has arranged a $14 million loan for the refinancing of an industrial flex facility in Irvine. Formerly part of the St. John corporate campus, the 99,576-square-foot facility features a climate-controlled warehouse with 20-foot clear heights, four dock doors, five drive-in doors and dedicated office space. Michael Tanner and David Sarnoff of PSRS placed the loan, which carries a 60 percent loan-to-value loan ratio with a two-year, full interest-only term, through an undisclosed debt fund.

September 3, 2026

Acquisitions Colorado Retail Western

Marcus & Millichap Brokers $8.5M Sale of Wabash Marketplace Shopping Center in Denver

by Amy Works September 3, 2026

DENVER — Marcus & Millichap has brokered the sale of Wabash Marketplace, a shopping center in Denver’s Cherry Creek neighborhood. An entity doing business as Wabash Retail LLC sold the property for $8.5 million, or $243 per square foot. Located at 8400 E. Iliff Ave., Wabash Marketplace features 34,846 square feet of space that is leased to a mix of local and service-oriented tenants, including restaurants, a coffee shop, fitness and beauty business and a home décor retailer. The property was built in 1983 on 2.1 acres. Cory Gross of Marcus & Millichap represented the seller and sourced the buyer, a private investor who was completing a 1031 exchange, in the off-market transaction.

September 3, 2026

Acquisitions Arizona Industrial Western

Lincoln Property Co. Sells Two Industrial Buildings at Park303 in Glendale, Arizona for $170.2M

by Amy Works September 2, 2026

GLENDALE, ARIZ. — Dallas-based Lincoln Property Co. has sold two industrial buildings within Park303 in Glendale. Nuveen Real Estate acquired the assets for $170.2 million. The transaction represents the last of the four buildings sold at Park303, a 210-acre, 3.7 million-square-foot logistics campus located along Loop 303 freeway and Glendale Avenue. The transaction includes Park303 Phase II – Building A, which totals 629,835 square feet and is fully leased to DHL, and Park303 Phase II – Building B, which totals 483,000 square feet and is fully leased to Logisticus Group LLC. Completed in 2025, Park303 Phase II includes three buildings totaling 2.5 million square feet. The phase’s Building C sold in October 2025 to Dollar Tree $147 million. Completed in late 2020, Park303 Phase I totals 1.2 million square feet and is fully leased on a long-term deal to Walmart. BentallGreenOak purchased this building in 2021 for $186 million. Will Strong and Molly Miller of Cushman & Wakefield represented Lincoln in the final Park303 Phase building sales.

September 2, 2026

Acquisitions Mixed-Use Multifamily Retail Washington Western

IPA Negotiates Sale of 95-Unit Apartment Complex in Seattle’s Eastlake Neighborhood

by Amy Works September 2, 2026

SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of East Howe Steps, an apartment complex located in Seattle’s Eastlake neighborhood. The seller was Bender Equities. An affiliate of Sequel Investment Co. and Evergreen Gavekal acquired the property for $35 million, or $351,579 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA, represented the seller in the deal. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen and Tyler Johnson of IPA Capital Markets arranged acquisition financing for the buyer. Completed in 2016, East Howe Steps features two four-story buildings with a total of 95 studio, one- and two-bedroom apartments, four live/work units with private street-level entrances and 3,000 square feet of ground-floor retail space. The property includes a rooftop deck, open-air walkways, landscaped courtyards, a fitness center, controlled-access parking garage, bike storage and onsite paddle board and kayak rentals.

September 2, 2026

Acquisitions Multifamily Oregon Western

Fourth Avenue Capital Buys Apartment Complex in Bend, Oregon for $20M

by Amy Works September 2, 2026

BEND, ORE. — Fourth Avenue Capital has purchased Steppe, an apartment complex in Bend, about 175 miles southeast of Portland. National Real Estate Advisors sold Steppe for $20 million. Sam Lawhead, Joe Nydahl, Matt Dodd and Josh McDonald of CBRE represented both the seller and buyer in the transaction. Completed in 2025, Steppe features 87 one- and two-bedroom apartments across six residential buildings. Community amenities include a resident clubhouse, outdoor gathering spaces, electric vehicle charging stations and a dog wash station.

September 2, 2026

Acquisitions California Office Western

Joint Venture Acquires 95,551 SF Office Building in San Marcos, California

by Amy Works September 2, 2026

SAN MARCOS, CALIF. — A joint venture between Newport National Corp., Bluebird Capital Group and Salt Lake City-based Sundance Bay has acquired Civic View Corporate Centre, an office building located at 300 Rancheros Drive in San Marcos a northern suburb of San Deigo. At the time of sale, the 95,551-square-foot property was fully leased to a variety of tenants, including Smith Chason College, Black and Veatch and San Diego Regional Center. Newport National Corp. originally developed the property in 2008 and sold it in 2015. With this reacquisition, the joint venture plans to invest in tenant improvement packages, including upgraded building amenities. The new ownership has retained Chris Williams and Victoria Soto of CBRE to handing leasing for the property. Rick Reeder and Brad Tecca of Newmark, San Diego represented the undisclosed seller in the deal.

September 2, 2026

Build-to-Rent California Development Loans Single-Family Rental Western

Canyon Partners, J.P. Morgan Provide $74.7M Construction Loan for Inland Empire Townhome Project

by Amy Works September 1, 2026

RIVERSIDE, CALIF. — Canyon Partners and J.P. Morgan have provided a $74.7 million senior construction loan for a townhome rental project in Riverside’s Mission Grove neighborhood. The developer, BCT Development, is a joint venture between Bain Capital Real Estate and Cherry Tree Development. The community has yet to be branded, but plans call for 180 rental townhomes in a mix of two-, three- and four-bedroom floor plans, as well as amenities such as a pool, fitness center and clubhouse. A construction timeline was not disclosed. The financing represents Canyon’s second senior construction loan to BCT this year following the closing of a $91.3 million loan in March for the development of a 232-unit rental townhome community, also located in Riverside.

September 1, 2026

Arizona Development Mixed-Use Office Retail Western

Trammell Crow Co. Completes Sprouts Farmers Market Headquarters in Phoenix

by Amy Works September 1, 2026

PHOENIX — Trammell Crow Co. has completed a 181,000-square-foot mixed-used development in Phoenix. Project partners include U.S. Realty Advisors, RSP Architects, Wespac Construction, Keyser and JLL. The 8-acre project consists of a 145,000-square-foot Class A office building serving as Sprouts Farmers Market’s corporate headquarters, a 25,000-square-foot flagship Sprouts grocery store and approximately 11,000 square feet of additional retail space. The grocery store opened to the public on July 24, 2026, and the office headquarters building is now ready for occupancy. Located within the CityNorth development near 56th Street and Loop 101, the headquarters features a community garden, rooftop deck, fitness center and culinary kitchens.

September 1, 2026

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