MARINA DEL RAY, CALIF. — BWE has secured $43.4 million in acquisition financing for Villa Del Mar, a multifamily property in Marina del Ray. Initially constructed in 1872, Villa Del Mar consists of four three-story apartment buildings over at-garage parking, a five-story parking structure and a 209-slip marina. The property offers 198 one- and two-bedroom apartments with hardwood-style flooring, marina-view balconies and in-unit washers/dryers. Community amenities include a clubhouse, fitness center, pool and spa, basketball and tennis courts and barbecue areas. Mike Guterman of BWE arranged the acquisition financing from a life company on behalf of VDM Partners. The loan features a five-year, fixed-rate term with prepayment flexibility and two years of interest-only payments.
SAN DIEGO — Voit Real Estate Services has arranged the $5.3 million purchase of a medical office building located at 8623 Spectrum Center Blvd. in the Kearny Mesa submarket of San Diego. San Diego-based Cal Coast Credit Union sold the property to an undisclosed San Diego-based buyer. Situated within San Diego Spectrum, the single-story freestanding building offers 8,000 square feet of Class B medical office space. Tim Cajka and Myles Martinez of Voit Real Estate Services represented the buyer in the deal.
DIAMOND BAR, CALIF. — Hanley Investment Group Real Estate Advisors and Oaks Commercial Real Estate have brokered the sale of a multi-tenant retail pad property located at 22438 Golden Springs Drive in Diamond Bar. A Las Vegas-based private partnership acquired the asset from a Los Angeles-based private non-exchange investor for $4.6 million. Starbucks Coffee, Jimmy John’s and Crumbl Cookies fully occupy the 4,767-square-foot property, which was built in 2016. Bill Asher and Jeff Lefko of Hanley Investment Group, along with Fred Encinas of Oaks Commercial Real Estate in Eastvale, Calif., represented the seller, while Arman Mahmoodi of BeachRock Group at Keller Williams in Beverly Hills, Calif., represented the buyer in the transaction.
WINCHESTER, CALIF. — SRS Real Estate Partners has arranged the sale of a three-tenant retail building within French Valley Marketplace at 35974 Winchester Road in Winchester. A Southern California-based private developer sold the asset to a La Jolla, Calif.-based private investor for $5.9 million. The 7,226-square-foot property is occupied by Panera Bread and Toro Sushi on long-term absolute triple-net leases. The asset also has one available unit. Matthew Mousavi, Patrick Luther and Jack Cornell of SRS Capital Markets represented the seller in the transaction.
— By Berkadia — San Diego’s apartment market is poised to strengthen in 2025, with demand poised to set a record and fundamentals outperforming most other major California metros. This is a welcome change from 2024, where a slower leasing environment for Class A properties led to more concessions. The big story is demand. More than 9,900 net units are expected to be leased this year, surpassing the previous high of 9,500 in 2021. This figure will also outpace what is likely to be a record year for new deliveries, with 7,233 units slated to debut this year across the metro. By year-end, occupancy is projected to climb to 96.3 percent, up 90 basis points from 2024 and above the market’s 10-year pre-pandemic average. That puts San Diego ahead of Los Angeles, San Francisco-Oakland and San Jose on the occupancy leaderboard. Effective rent is expected to rise 3.1 percent year over year to a projected $2,868, marking a solid improvement from last year’s flat performance. Fundamentals Point to a Solid Year Employment growth remains a tailwind. The metro added 16,200 new jobs between May 2024 and May 2025, pushing total employment to nearly 1.6 million. That economic momentum is supporting …
SANTA MARIA, CALIF. — JLL Capital Markets, on behalf of Santa Barbara, Calif.-based Vernon Group, has secured a $28.5 million construction financing for The Lofts, a Class A multifamily property in downtown Santa Maria. The project is a component of Phase I in the Santa Maria Town Center redevelopment, a master-planned expansion initiated by the City of Santa Monica to revitalize the downtown core. The Lofts will feature 104 loft-style apartments ranging from 600 square feet to 1,200 square feet. Located at 201 Town Center East, the existing building will be converted to a courtyard format with double-loaded corridors for apartments. Constructed is slated for completion in June 2027. Matt Stewart, Alex Olson, Ace Sudah, Kyle White and Jacob Michael of JLL represented the borrower in the financing.
MORGAN HILL, CALIF. — Steadfast Senior Living has sold Loma Clara, a 67-unit seniors housing community located in Morgan Hill, for an undisclosed price. LTC REIT was the buyer. Completed in 2018, Loma Clara features 42 assisted living units and 25 memory care units. The property was roughly 92 percent occupied at the time of sale. Units total 529 square feet on average. Amenities at the community include a theater, fitness center, activity and game rooms, a library, outdoor courtyard, physical therapy space and bistro. Discovery Management will continue to operate the property. Aaron Rosenzweig and Dan Baker of JLL arranged the sale on behalf of the seller.
SOUTH LAKE TAHOE, CALIF. — Gantry has secured an $11.7 million construction loan for the development of a 14 for-sale townhome project in South Lake Tahoe. Located at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave., South Lake Tahoe Townhomes will offer 14 for-sale townhomes within walking distance of the lake, stateline casinos and other amenities. Peter Hillakas, Robert Slatt and Keegan Bridges of Gantry represented the borrower, a private real estate investor. The 18-month loan was provided from Gantry’s extensive roster of lenders specializing in construction financing.
ANAHEIM, CALIF. — Marcus & Millichap has arranged the sale of Glencrest Apartments, a multifamily property in Anaheim. A local family sold the asset to a limited liability company for $7.6 million. Glencrest Apartments offers 31 apartments, a swimming pool, two onsite laundry facilities and ample garage parking. Drew Holden, Nick Kazemi and Tyler Leeson of The Leeson Group of Marcus & Millichap represented the seller, while Christian Tait procured the buyer in the deal.
GARDENA, CALIF. — PSRS has secured $6.5 million in refinancing for an outdoor storage and parking facility totaling 117,250 square feet in Gardena. Michael Warner of PSRS arranged the 100 percent cash-out refinance to create liquidity for the beneficiaries on an irrevocable trust. The trust holds the property on behalf of third-generation beneficiaries, both of whom reside out of state. A bank provided the recourse loan, which features a two-year interest-only term and a 55 percent loan-to-value ratio.
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