MMCC Arranges $64.4M in Financing for Multifamily Development in Monrovia, California

MONROVIA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $64.4 million in financing for a multifamily development located at 127 W. Pomona in Monrovia. The borrower was not disclosed.Sharone Sabar and Stefen Chraghchian of MMCC arranged the financing, which features a 42-month term, a 65 percent loan-to-cost ratio and an interest rate of 3.4 percent.Situated on 1.8 acres, the fully entitled and construction-ready property is slated for a 33-month development …

May 26, 2022California, Development, Loans, Multifamily, Western

Sack Properties Buys Fairwood Landing Apartment Complex in Renton, Washington, for $61M

RENTON, WASH. — San Francisco-based Sack Properties has purchased Fairwood Landing, a garden-style multifamily property located at 14121 SE 177th St. in Renton, from CES Properties for $61 million.Built in 1981, Fairwood Landing features 195 apartments. Sack Properties plans to renovate and modernize the community.Jerrid Anderson, Brandon Lawler and Dylan Simon of Kidder Mathews’ represented the buyer in the deal. Kidder Mathews was the only brokerage firm involved in the …

May 26, 2022Acquisitions, Multifamily, Washington, Western

Legacy Partners Sells 250-Unit Apartment Community in Costa Mesa to Rockwood Capital

COSTA MESA, CALIF. — Legacy Partners has sold 580 Anton, a five-story multifamily property in Costa Mesa, to an affiliate of Rockwood Capital for an undisclosed price.The property features 250 apartments in a mix of studio, one- and two-bedroom layouts with luxury interior finishes. Amenities include a clubhouse with a game room, coffee bar, conference rooms, business center, dog wash station and a fitness center with a yoga/Pilates studio.Legacy Partners acquired the land in May …

May 26, 2022Acquisitions, California, Multifamily, Western

Macquarie Asset Management Acquires 76,095 SF Office Building in Denver

DENVER — Macquarie Asset Management has purchased One DTC West, a boutique Class A office building located at 4949 S. Niagara St. in Denver. The acquisition was made on behalf of a U.S. separate account mandate by Macquarie Asset Management. Terms of the transaction were not released.Completed in 2018, the four-story building features 76,095 square feet of office space. Situated within the Denver Tech Center submarket, the asset is located near Bellevue Station, an area that houses light …

May 26, 2022Acquisitions, Colorado, Office, Western

Capital Funding Group Provides $11.3M Acquisition Loan for Skilled Nursing Facility in Sacramento

SACRAMENTO — Capital Funding Group (CFG) has provided $11.3 million in bridge-to-HUD financing for the acquisition of a 121-bed skilled nursing facility in Sacramento. The borrower was not disclosed.Capital Funding Group’s Tim Eberhardt and Ava Julio originated the financing. Further details of the transaction were not

May 26, 2022California, Loans, Multifamily, Seniors Housing, Western

Small Balance Multifamily Mortgage Lending Approach Requires Education, Tech, Creativity in Structuring Loans

Capitalizing on a changing marketplace and employing technology to streamline processes are essential strategies in helping small balance clients meet their goals. Ana Ramos, managing director and regional production head at Walker & Dunlop, emphasizes the importance of speed, creativity and using technology to assist in mortgage lending processes.She also emphasizes the centrality of teamwork, company ethos and technology to put a big emphasis on small balance loans. Walker & …

May 26, 2022Content Partner, Features, Loans, Midwest, Multifamily, Northeast, Southeast, Texas, Walker & Dunlop, Western

DivcoWest Buys 320,000 SF Office Building in San Francisco’s Mission Bay

SAN FRANCISCO — DivcoWest has purchased 550 Terry Francois Boulevard, a vacant, six-story office building in San Francisco’s Mission Bay neighborhood. Terms of the transaction were not released.Built in 2002, the 320,000-square-foot building recently served the headquarters of fashion retailer Old Navy. DivcoWest plans to invest in the building to further broaden its life sciences appeal. The asset is adjacent to University of California San Francisco’s medical research campus, as …

May 25, 2022Acquisitions, California, Office, Western

FPA Multifamily Sells 136-Bed Student Housing Property in Fort Collins for $25.5M

FORT COLLINS, COLO. — San Francisco-based FPA Multifamily has completed the disposition of The Social Fort Collins, a 68-unit student housing community in Fort Collins. A Denver-based private equity group acquired the property for $25.5 million, or $375,000 per unit.Constructed in 2021, the property features 136 beds and is within walking distance to Colorado State University and Canvas Stadium.Bill Morkes and Craig Stack of Colliers represented the seller in the

May 25, 2022Acquisitions, Colorado, Multifamily, Student Housing, Western

Happy Place Stages Acquires Creative Production Campus in North Hollywood for $14.3M

LOS ANGELES — Happy Place Stages LLC, a full-service creative studio, has purchased a warehouse campus located at 5446-5450 Satsuma Ave. in the North Hollywood neighborhood of Los Angeles for $14.3 million. The sales price equates to $380 per square foot.Built in 1952 and renovated in 2017, the property features four buildings: a 13,000-square-foot cargo containers that has been convert to creative office space, a 1,400-square-foot office, an 8,000-square-foot warehouse and a …

May 25, 2022Acquisitions, California, NAI, Office, Western

Faris Lee Investments Arranges $6.6M Sale of Country Squire Shopping Center in Fresno

FRESNO, CALIF. — Faris Lee Investments has arranged the sale of Country Squire Shopping Center, a three-building retail property in Fresno. A Riverside, Calif.-based private investor acquired the asset from a Fresno-based investor for $6.6 million. Both parties requested anonymity.Walgreens, Surf Thru Express Car Wash and Multi-Tenant Shops fully occupy the 27,315-square-foot property. Situated on a total of 4.3 acres, the center is located at 4172, 4140, 4182 N. First St.Sean Cox, …

May 25, 2022Acquisitions, California, Retail, Western

MMCC Arranges $64.4M in Financing for Multifamily Development in Monrovia, California

Sack Properties Buys Fairwood Landing Apartment Complex in Renton, Washington, for $61M

Legacy Partners Sells 250-Unit Apartment Community in Costa Mesa to Rockwood Capital

Macquarie Asset Management Acquires 76,095 SF Office Building in Denver

Capital Funding Group Provides $11.3M Acquisition Loan for Skilled Nursing Facility in Sacramento

Small Balance Multifamily Mortgage Lending Approach Requires Education, Tech, Creativity in Structuring Loans

DivcoWest Buys 320,000 SF Office Building in San Francisco’s Mission Bay

FPA Multifamily Sells 136-Bed Student Housing Property in Fort Collins for $25.5M

Happy Place Stages Acquires Creative Production Campus in North Hollywood for $14.3M

Faris Lee Investments Arranges $6.6M Sale of Country Squire Shopping Center in Fresno

Recent Features

Small Balance Multifamily Mortgage Lending Approach Requires Education, Tech, Creativity in Structuring Loans

Rising Interest Rates and Inflation to Fuel Change in Property Markets

Build-to-Rent Planning and Entitlements: How to Avoid Challenges

Student Housing is Growing on Institutional Investors’ Radars, Say InterFace Panelists

Retail Real Estate is All About Creating the ‘Place to Be’

Recent Market Reports

Retail, Industrial Brokers in Wichita Market Remain Busy

Residential Development Nears Cyclical Peak Across RGV Markets

Atlanta Multifamily Sales Market Downshifts from ‘White Hot’ to ‘Hot’

Mixed-Use Owners in Northeast Face Retail Tenancy Dilemma

Office Designs, Layouts Look Different in Post-Pandemic Marketplace

Finance Insight 2022

Factors Compressing Affordable Housing Pipeline in 2021 Likely to Resolve in 2022

Web-Based Appraisal Tool Supports Massive Increase in Demand for Multifamily Valuations

Multifamily Investment to Expand into Secondary, Tertiary Markets in 2022

Multifamily Financing Outlook Positive Despite Volatility, Interest Rates

Growth of Affordable Housing Delayed by Approval Process Slowdowns, Supply Chain

Web-Based Multifamily Valuation Enhances Speed, Builds Better Predictions

Investment, Financing in Seniors Housing Driven by Property Performance

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