California

CEDARst Cos. Breaks Ground on $106M Bancroft Lofts in San Diego

by Amy Works November 14, 2025

SAN DIEGO — CEDARst Cos. has broken ground on Bancroft Lofts, a $106 million multifamily development located at 3760 Bancroft St. in San Diego’s North Park neighborhood. Slated for completion by December 2027, the 255,000-square-foot project will deliver 218 residences. Designed by JWDA Architects and built by KPRS, the eight-story property will feature 76 studios, 121 one-bedroom and 21 two-bedroom units, including 16 income-restricted units. Onsite amenities will include 189 parking stalls, a resort-style pool with a TV wall, a hot tub, fitness center, resident lounge, grilling stations, a movie theater, golf simulator and dedicated coworking and remote-work space. Bancroft Lofts is being developed in partnership with Quartz Lake Capital under a programmatic joint venture. Pacific Life is the construction lender, and a publicly traded insurance firm is providing common equity. Chris Collins and Zach Kersten of JLL Capital Markets arranged the project financing.

November 14, 2025

Acquisitions California Industrial Western

Bridge Logistics Buys 1.1 MSF Inland Empire Distribution Facility

by Amy Works November 14, 2025

FONTANA, CALIF. — Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings, has purchased a 1.1 million-square-foot Class A industrial distribution facility in Fontana. Terms of the transaction were not released. Located at 10681 Production Ave., the cross-dock facility features 220 dock-high doors, ESFR sprinklers, 185-foot truck courts, 274 trailer stalls and immediate access to Interstate 10. BLP anticipates the property will be vacant in first-quarter 2026, providing the company with an opportunity to capitalize on improving market fundamentals for buildings over 1 million square feet. The company plans to implement facility enhancements, including sprinkler head upgrades, dock packages, office improvements and other make-ready upgrades.

November 14, 2025

Acquisitions California Multifamily Seniors Housing Western

Azure Partners Acquires 148-Unit Seniors Housing Community in San Diego

by Amy Works November 14, 2025

SAN DIEGO — Azure Partners has acquired Cypress Court, a senior living community located in San Diego. Totaling 148 units, the property features 76 independent living and 72 assisted living residences. Kisco Senior Living sold the community for an undisclosed price. JLL Capital Markets brokered the transaction on behalf of the seller. JLL also secured a 10-year acquisition loan through Freddie Mac on behalf of Azure. “Azure is very excited about the acquisition of Cypress Court as our entrance into seniors housing, and we aim to rapidly expand our portfolio in the sector,” says Arthur Rosenberg, CEO of Azure. Northstar Senior Living will continue to manage the property.

November 14, 2025

Acquisitions California Healthcare Office Western

Progressive Real Estate Partners Brokers $10.5M Sale of Indian Wells Medical & Professional Center in California

by Amy Works November 14, 2025

INDIAN WELLS, CALIF. — Progressive Real Estate Partners has brokered the sale of Indian Wells Medical & Professional Center, located at 74785 Highway 111 in Indian Wells. Miami-based Kresher Capital sold the property to Orange County, Calif.-based Circle Vision for $10.5 million. Built in 1996, the two-story Indian Wells Medical & Professional Center offers 40,750 square feet of commercial space, as well as courtyards, outdoor seating and covered parking. Current tenants include Charles Schwab, RadNet, Mercer Financial and SBEMP Law. Greg Bedell and Heather Sharp of Progressive Real Estate Partners represented the seller, while the buyer was self-represented in the deal.

November 14, 2025

California Development Multifamily Seniors Housing Western

CCI to Develop 236-Unit Senior Living Community in Southern California

by Amy Works November 13, 2025

WOODLAND HILLS, CALIF. — CCI has announced plans for the development of a 236-unit luxury senior living community in Woodland Hills, roughly 25 miles northwest of Los Angeles. Upon completion, Livelle Mulholland will feature 200 independent living units, seven villas, 16 assisted living apartments and 13 memory care units. LCS will manage the community. Amenities at the property will include a wellness center with therapy pools, nature trails and outdoor game courts, underground and attached garage parking, a restaurant, wine bar and rooftop lounge, indoor and outdoor theaters and classrooms. Construction is scheduled to begin in the second quarter of 2026, with a grand opening planned for the second half of 2028. The project team includes architect Perkins Eastman and engineer KPFF. Envicom is handling environmental and land planning, and Carlberg Associates and Brenner Consulting Group are responsible for horticulture and permit administration, respectively.

November 13, 2025

California Industrial Loans Western

PSRS Arranges $21M Refinancing for Multi-Tenant Industrial Property in Los Angeles

by Amy Works November 13, 2025

LOS ANGELES — PSRS has arranged $21 million in refinancing for a 213,990-square-foot multi-tenant industrial warehouse in Los Angeles. Built in 1955, the property features a clear height of 22 feet and 13 exterior drive-in docks. Jonny Soleimani and George Gianoukakis of PSRS arranged the nonrecourse loan that features a two-year term with a one-year extension option, full-term interest-only payments and a one-year prepayment penalty through one of PSRS’ correspondent life insurance company lenders.

November 13, 2025

Affordable Housing California Development Multifamily Student Housing Western

San Diego Community College District, Michaels Break Ground on 787-Bed Affordable Student Housing Community

by Amy Works November 12, 2025

SAN DIEGO — A partnership between the San Diego Community College District (SDCCD) and The Michaels Organization has broken ground on a 787-bed student housing development at 1601 B St. in downtown San Diego. The seven-story community, designed by TCA Architects, will offer 283 affordably priced units. Shared amenities are set to include study lounges, tutoring spaces, a mental health and wellness center, outdoor courtyards, shared kitchens, a basic needs food pantry and a rooftop lounge. The community will be the first development by the SDCCD and is scheduled for completion in fall 2028.

November 12, 2025

Acquisitions Arizona California Retail Western

Brixton Capital Forms JV with TriPost to Recapitalize Two Retail Centers in Arizona, California

by Amy Works November 12, 2025

BEAUMONT, CALIF. AND PHOENIX — Brixton Capital has recapitalized two of its grocery-anchored retail properties in a joint venture with TriPost Capital Partners, which acquired a stake in the two-property portfolio. This transaction marks the second investment out of TriPost’s Asset Solutions strategy. The portfolio includes Marketplace Beaumont, a 177,000-square-foot shopping center in Beaumont, and Palmilla Center, a 104,000-square-foot property in Phoenix. Marketplace Beaumont is 99 percent occupied by Aldi, Ross, HomeGoods and Best Buy, and Palmilla Center is 99 percent occupied by OfficeMax, PetSmart and Dollar Tree.

November 12, 2025

Acquisitions California Multifamily Western

Ballast Acquires Grosvenor Court Apartments in San Francisco for $31.9M

by Amy Works November 11, 2025

SAN FRANCISCO — Ballast has purchased Grosvenor Court Apartments, a multifamily community located at 2055 Sacramento St. in San Francisco, from an undisclosed seller for $31.9 million, or $370,930 per unit. Situated across from Lafayette Park in Pacific Heights, Grosvenor Court offers 86 apartments and recent upgrades, including electrical modernization, exterior painting and a new fire alarm system.

November 11, 2025

Acquisitions California Loans Multifamily Seniors Housing Western

Berkadia Arranges Sale, Financing of Two Seniors Housing Communities in Southern California

by Amy Works November 10, 2025

SAN DIEGO AND LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California. Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing through Berkadia’s proprietary lending group on behalf of the undisclosed buyer. The bridge-to-HUD loans feature interest-only payments for 24 months.

November 10, 2025

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