Western

KeyBank Provides $92.9M in Financing for Affordable Housing Development in Los Angeles

by Amy Works October 2, 2026

LOS ANGELES — KeyBank Community Development Lending and Investment (CDLI) has provided $92.9 million in financing for Broadway & Imperial, a new affordable housing development in South Los Angeles. The financing package includes a $43.8 million construction loan and an $18.1 million federal Low-Income Housing Tax Credit (LIHTC) equity investment from KeyBank CDLI. Key Commercial Mortgage Group arranged a $31 million Fannie Mae permanent loan, and KeyBanc Capital Markets underwrote a $31 million public bond issuance as part of the financing structure. Developed by SoLa Impact, Broadway & Imperial will feature 164 affordable apartments and two manager units that will be housed within four- and five-story buildings. Residents will have access to a range of amenities, including a lobby, rooftop deck, community room and three landscaped courtyards. Supportive services will be provided onsite by LifeSTEPS and will include educational, financial literacy, health and wellness and counseling services. Additionally, residents will have access to programs offered by the SoLa Foundation, including opportunities available through the SoLa Tech & Entrepreneurship Center Powered by Riot Games. Matthew Haas and Eileen Tran of KeyBank CDLI, along with Shana Daby of Key Commercial Mortgage Group, arranged the financing. Alex Stekler of KeyBanc Capital Markets marketed …

October 2, 2026

Development Loans Multifamily Utah Western

JLL Arranges Equity Placement for 217-Unit Multifamily Development in Bluffdale, Utah

by Amy Works October 2, 2026

BLUFFDALE, UTAH — JLL Capital Markets has arranged an equity placement for a multifamily development at 15580 Plentiful Way in Bluffdale, located south of Salt Lake City. Chris Gandy, Kevin Barron and Ellie Savage of JLL Capital Markets’ Equity Advisory represented the developer, Six Ridge Partners, in the equity placement. Situated within the master-planned Independence at the Point community, the five-story, midrise building will feature 217 apartments in studio, one-, two- and three-bedroom layouts, with an average unit size of 792 square feet. Community amenities will include a pool, spa, clubhouse, fitness center, coworking lounge, theater, game room and a rooftop deck. The average monthly rent is projected at $1,558.

October 2, 2026

Acquisitions California Retail Western

DPI Retail Sells Main Street Marketplace in El Cajon, California for $17.5M

by Amy Works October 2, 2026

EL CAJON, CALIF. — DPI Retail has sold Main Street Marketplace, a grocery-anchored shopping center in El Cajon, located in San Diego County, for $17.5 million. The buyer, an entity doing business as First Corner LLC, is the owner of Manolo Farmers Market, which has anchored the property since 1988. Enrique Wong of Marcus & Millichap, along with Tom Lagos, Patrick Toomey and Jose Carrazana of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal. Built in 1979 at 1045-1099 E. Main St., Main Street Marketplace offers 75,328 square feet of retail space. Other tenants includes Bellus Academy, D C Cleaners, Fresh Up Barber Shop, Total Vision El Cajon, Boost Mobile, Freeway Insurance and El Cajon Eco Laundry. At the time of sale, Main Street Marketplace was 94.7 percent occupied, with dd’s Discounts accounting for two-thirds of the gross leasable area.

October 2, 2026

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 29,932 SF Industrial Warehouse in Santa Ana, California

by Amy Works October 2, 2026

SANTA ANA, CALIF. — DAUM Commercial Real Estate Services has negotiated the off-market sale of an industrial warehouse facility in Santa Ana. Mike Barreiro, Devin Ray, Zack Homsy, David Freitag, Ben Andrews and Sam Andrews of DAUM represented the seller and procured the buyer, a global retailer and e-commerce wholesaler of currency collectibles and numismatic supplies, in the deal. Located at 3102 W. Adams St., the freestanding buildings features 29,932 square feet of manufacturing and distribution space on 1.6 acres zoned M-1 (light industrial). The property includes 3,000 square feet of office space, 20-foot clear heights, four truck-high loading positions, two ground-level loading doors and 45 parking spaces.

October 2, 2026

Development Idaho Multifamily Western

Thompson Thrift to Develop 300-Unit The Highline Apartment Property Near Boise

by Amy Works October 1, 2026

NAMPA, IDAHO — Thompson Thrift has begin construction of The Highline, a multifamily community in Nampa, approximately 20 miles west of Boise. Slated to welcome residents in early 2028, The Highland will feature 300 one-, two- and three-bedroom apartments with private entrances averaging 1,100 square feet. Residences will offer quartz countertops, stainless steel appliances, designer fixtures and finishes, hardwood-style floors, full-size washers/dryers, walk-in closets and smart-home technology. Additionally, detached garages and patio, balcony or private yard options will be available for select units. Onsite amenities will include a 24-hour fitness center, heated swimming pool and lap pool, courtyards, fire pits, grilling areas, outdoor games and a pickleball court. Residents will also have access to a 24-hour social hub with billiards and shuffleboard, focus rooms, conference space, bike storage, two dog parks and a pet spa. The Highline will be capitalized with equity from the Thompson Thrift 2026 Multifamily Development. The community will be located within East Ranch, a master-planned mixed-use community with a blend of single-family homes and flex industrial space with integrated retail, creating a walkable and amenity-rich environment for residents.

October 1, 2026

Acquisitions Colorado Office Western

PAULS Returns to Denver Tech Center, Acquires 335,908 SF Office Tower

by Amy Works October 1, 2026

DENVER — PAULS has purchased Regency Plaza, a 15-story office tower located at 4643 S. Ulster St. in Denver Tech Center, from Granite Properties for an undisclosed price. The acquisition marks a return of ownership for Regency Plaza, which was previously owned by PAULS. Originally built in 1985 and repositioned in 2020, Regency Plaza offers 335,908 square feet of office space that is 83 percent leased, with more than 176,000 square feet of new leases executed since early 2024. The asset features a renovated lobby, an outdoor plaza, a fitness center, training facility and an onsite restaurant/market. Tim Richey and Jack Richey of Newmark represented the seller in the deal. Collegiate Peaks Bank, a division of Glacier Bank, provided acquisition financing with a fixed-rate loan. Colliers will continue to handle leasing for the property.

October 1, 2026

Acquisitions Multifamily Washington Western

CBRE Negotiates $53M Sale of Townhome Community in Lacey, Washington

by Amy Works October 1, 2026

LACEY, WASH. — CBRE has directed the sale of Chambers Reserve, a townhome property in Lacey. The asset traded for $53 million. The names of the seller and buyer were not released. Jordan Louie, Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE represented the seller in the transaction. Located at 3725 Wildspitz St. SE, Chambers Reserve offers 125 three- and four-bedroom townhome floor plans, with an average unit size of 1,736 square feet, spread across 23 residential buildings. Community and unit amenities include two-car garages, private decks, air conditioning, quartz countertops, stainless steel appliances, a 24-hour fitness center, a seasonal swimming pool and a clubhouse.

October 1, 2026

Acquisitions Arizona Multifamily Western

IPA Brokers $47.8M Sale of Astor at Osborn Apartments in Phoenix

by Amy Works October 1, 2026

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Astor at Osborn, a mid-rise multifamily property in Phoenix. The asset traded for $47.8 million, or $250,262 per unit. Steve Gebing and Cliff David of IPA represented the undisclosed seller and undisclosed buyer in the deal. Completed in 2019, The Astor at Osborn features 191 apartments, garage parking, a resort-style swimming pool, fitness center, clubroom and outdoor grilling stations. The property offers a mix of studio, one-, two- and three-bedroom apartments.

October 1, 2026

California Features Restaurant Retail Western Western Feature Archive

The Great Cap Rate Puzzle: Rethinking How Net Lease Real Estate Responds to Interest Rates

by John Nelson October 1, 2026

By Jeff Lefko of Hanley Investment Group Real Estate Advisors For much of the last few decades, commercial real estate investors have operated under a simple assumption: interest rates rise, and cap rates rise with them. It is a straightforward relationship: intuitive, widely accepted and deeply embedded in underwriting models and investment committee discussions across the industry. Yet in the net lease sector, the connection between interest rates and cap rates has been far less direct than many believe. Since early 2022, the Federal Reserve has increased short‑term rates by more than 500 basis points, the fastest tightening cycle in four decades. Longer‑term borrowing costs remain elevated compared to the ultra-low-rate era of 2020 and 2021, even after the Fed’s rate cuts through 2025. Conventional thinking suggests net lease cap rates should have expanded sharply. Instead, cap rates across much of the single-tenant and multi-tenant net lease market have risen only modestly relative to the scale of the rate increases. There has been movement in certain segments, particularly in secondary markets, shorter lease terms and lower credit tenants, but the broader market has moved far less than the headline rate increases alone would suggest. This raises an important question for …

October 1, 2026

Colorado Loans Multifamily Western

Griffis Residential Receives $86M in Financing for Denver Apartment Community

by Amy Works September 30, 2026

DENVER — Griffis Residential has received $86 million in financing for Griffis Union Station, a Class A apartment property in Denver. Eric Tupler, Kevin Barron and Jake Martin of JLL Capital Markets secured the five-year senior agency loan for the borrower. Completed in 2010, the five-story Griffis Union Station features 400 one- and two-bedroom apartments, averaging 918 square feet. A portion of the units have been fully renovated and feature new countertops, backsplashes, stainless steel appliances and improved lighting. Community amenities include a fitness center, resort-style pool, clubhouse, resident lounge, business center, game room and grilling stations, as well as a dog park and pet washing station. Griffis Union Station is situated on 4.9 acres at 2905 Inca St. in the heart of downtown Denver and close to LoDo, the Ballpark District and RiNo Arts District.

September 30, 2026

Newer Posts

Older Posts