California

Bascom Northwest Divests of Tempo at Riverpark Apartments in Oxnard, California for $105M

by Amy Works January 27, 2026

OXNARD, CALIF. — Bascom Northwest Ventures, through an affiliate venture, has completed the sale of Tempo at Riverpark Apartments in Oxnard, to a venture led by Hines for $105 million. Blake Rogers, Alex Caniglia and Kip Malo of JLL handled the transaction. Apartment Management Consultants managed the community for Bascom Northwest over the holding period. Located less than one mile from the Pacific Ocean, Tempo at Riverpark features 235 apartments with in-unit laundry, stainless steel appliances, custom sliding barn doors, large bedrooms, spacious open floor plans and balconies or patios. Community amenities include an outdoor pool and spa, poolside cabanas, an outdoor barbecue area and fireplace, a 24/7 fitness center, yoga/spinning room and attached garages. Bascom Value Added Apartment Investors Fund IV, an affiliate of The Bascom Group, and a private investment group led by Bascom Northwest purchased the property for $75.2 million in 2028. Brian Wirtz of Bascom Northwest assisted throughout the investment execution process.

January 27, 2026

California Loans Retail Western

Northmarq Arranges $35.7M Bridge Loan for Conejo Valley Plaza Retail Center in Thousand Oaks, California

by Amy Works January 27, 2026

THOUSAND OAKS, CALIF. — Northmarq has arranged $35.7 million in financing for Conejo Valley Plaza, a grocery-anchored retail center in Thousand Oaks. The borrower is Gerrity. Matt Radich and Mason Brower of Northmarq’s Debt + Equity team secured the bridge loan through Northmarq’s long-standing relationship with New York Life. The transaction was structured on a five-year term with interest-only payments for the full term. Situated on 12.3 acres at 1388-1416 N. Moorpark Road, Conejo Valley Plaza offers 128,243 square feet of retail space. The property was built in 1983 and renovated in 2005. Current tenants include Ralphs, Toppers Pizza, Poke Land and Rise Southern Biscuits.

January 27, 2026

California Industrial Market Reports Western Western Market Reports

Repositioning Opens the Door to New Possibilities in Inland Empire’s Industrial Market

by John Nelson January 27, 2026

— By Richard Schwartz of SRS Real Estate Partners — The Inland Empire industrial market has undergone significant recalibration over the past 24 months, moving from the “too hot” environment of 2022 and 2023 marked by record construction and rent escalation to a period of normalization. Construction-driven vacancy has pushed the market into a digestion phase, marked by softening rents, adjusting sale prices and a reset in landlord-tenant expectations. These dynamics will unlock new opportunities as we enter 2026. Limited New Development Creates Breathing Room CoStar data compiled by SRS shows that new construction peaked in 2023 with about 29.5 million square feet delivered. This was followed by 17.8 million square feet in 2024 and an expected 16 million square feet in 2025. Deliveries are projected to fall to roughly 10 million square feet in 2026, making it the lightest post-pandemic year of new supply. This delivery includes several notable projects, such as Amazon’s 2.5-million-square-foot “middle-mile” facility in Hesperia, a 650,000-square- foot storage facility in Desert Hot Springs and a 1.2-million-square-foot facility in Apple Valley that’s leased to Lecangs. This means that more than half of the Inland Empire’s 2026 construction pipeline is already pre-leased, reducing speculative exposure while accelerating the rise …

January 27, 2026

California Development Hospitality Western

Azul Hospitality Group Opens 173-Room Hilton Arcadia Los Angeles Hotel

by Amy Works January 26, 2026

ARCADIA, CALIF. — San Diego-based Azul Hospitality Group has opened Hilton Arcadia Los Angeles, a full-service Hilton-branded hotel in Arcadia. The 173-room property includes a mix of guest rooms and suites, approximately 17,800 square feet of flexible indoor and outdoor meeting and event space, a heated outdoor pool, fitness center and business hub. Additionally, the hotel features three food-and-beverage outlets, including Hipico rooftop restaurant and terrace; 19Seventy at the Ovalo Restaurant & Bar, an all-day dining concept; and Sottaku by Kisen & Kaiseki Motoishi, a speciality sushi and Japanese dining outlet. Situated near the historic Santa Ana Racetrack, the hotel also offers racetrack-facing views from select rooms. Azul Hospitality Group operates properties in 29 markets across 11 states, with a portfolio that includes 21 global hotel brands. Azul also manages and concepted more than 40 independently branded restaurants and skyline bars, as well as cafés, counter-service concepts and speakeasies.

January 26, 2026

California Loans Multifamily Washington Western

Mesa West Capital Originates $201.5M Loan Package for mResidences Portfolio Acquisition

by Amy Works January 23, 2026

LOS ANGELES — Mesa West Capital has provided a joint venture between Interstate Equities Corp. and PGIM with a $201.5 million loan package for the previously announced acquisition of the mResidences Portfolio. The four properties, located in Mountain View, Redwood City and Sunnyvale, Calif., and Seattle, offer a total of 564 units. Eastdil Secured arranged the financing.

January 23, 2026

California Development Multifamily Seniors Housing Western

Oakland Senior Living, R.D. Olson Break Ground on $33M Community Near Los Angeles

by Amy Works January 23, 2026

ARCADIA, CALIF. — Oakland Senior Living, with R.D. Olson Construction as general contractor, has broken ground on Ivy Park at Arcadia, a seniors housing property in Arcadia within San Gabriel Valley. The three-story, $33 million project will feature 100 assisted living and memory care apartments. Completion is slated for fall 2027. The property will offer comprehensive fire and life safety systems, including advanced alarms, sprinklers and rated corridors; backup power and medical gas provisions to ensure uninterrupted care; and a secure outdoor area designed for safe, independent mobility. Community amenities will include a fitness center and specialized treatment rooms for memory core and mobility support; sensory-friendly design featuring distinct colors and intuitive wayfinding to reduce confusion; multiple communal spaces, including dining areas, a reading room, bar and lounge and salon; open-air patios and secure walking paths to promote healthy habits; and 70 parking spaces to accommodate family visits and staff. The project team includes b.hills architecture and STUDIOSIX5.

January 23, 2026

Acquisitions California Retail Western

West Hive Capital Sells Western Plaza Retail Center in Southern California for $24.5M

by Amy Works January 23, 2026

RANCHO PALOS VERDES, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $24.5 million sale of Western Plaza, a 28,190-square-foot neighborhood retail center located in Rancho Palos Verdes. Jeff Lefko of Hanley Investment Group represented the seller, West Hive Capital, in the transaction. Sheila Alimadadian of Marcus & Millichap represented the buyer, Aria Investments. After acquiring Western Plaza in 2024 for $8 million, West Hive Capital completed a full-scale redevelopment of the property. Renovations featured a complete exterior façade modernization, upgraded building systems, parking lot enhancements, an improved tenant mix and the addition of a 4,000-square-foot outdoor dining plaza. Current retailers and restaurants at the center include O’Reilly Auto Parts, The Habit Burger Grill, Urbane Café, Mattress Firm, Pacific Dental, Piccinni Italian, Alibaba Mediterranean, Pure Bean Coffee and Koi Ramen.

January 23, 2026

Gateway-Shopping-Center-Mission-Viejo-CA

Acquisitions California Retail Western

DJM Sells Gateway Shopping Center in Mission Viejo, California for $51M

by Amy Works January 22, 2026

MISSION VIEJO, CALIF. — Orange County-based DJM has sold Gateway Shopping Center, a 79,001-square-foot shopping center located in Mission Viejo. An institutional buyer purchased the property for $51 million. JLL represented DJM in the all-cash transaction. Completed in 1979 on 7.4 acres, Gateway Shopping Center features a mix of tenants including Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase, among others. The center was 97 percent leased at the time of sale. DJM acquired Gateway Center in December 2021 from Gerrity Group for $39.5 million. Following the acquisition, DJM completed a repositioning strategy that featured new leases with Pacific Dental and several restaurant and fitness tenants, as well as enhanced landscaping, refreshed paint and the addition of a weekly farmers market.

January 22, 2026

California Leasing Activity Retail Western

Vestar Signs H Mart as Anchor Tenant at Pacific Commons Shopping Center in Fremont, California

by Amy Works January 22, 2026

FREMONT, CALIF. — Asian supermarket chain H Mart will open a 100,000-square-foot flagship store at Pacific Commons Shopping Center, a 1.1 million-square-foot super-regional power center located on the southeastern shore of San Francisco Bay in Fremont. The new store will introduce H Mart’s multi-level prototype, which will include a food hall with fast-casual eateries, full-service dine-in restaurants, a bar and entertainment offerings. Construction on the development is expected to begin in late 2026. Owned by Heitman and managed by Vestar, Pacific Commons Shopping Center is home to more than 55 retailers and restaurants such as Target, T.J. Maxx, Costco, Nordstrom Rack and Sephora.

January 22, 2026

California Loans Office Western

PSRS Arranges $9.2M Refinancing for Historic Office Property in Santa Barbara, California

by Amy Works January 22, 2026

SANTA BARBARA, CALIF. — PSRS has arranged $9.2 million in refinancing for The Julia, a historic office building located at 924 Anacapa St. in Santa Barbara. Designed by famed architect Julia Morgan in 1926 initially as a women’s hotel, the 40,000-square-foot property was converted to office use in the 1970s. Seth Ludwick and Thomas Rudinsky of PSRS secured the loan, which features a 25-year amortizing term with rate resets every five years, through one of PSRS’ correspondent life insurance companies.

January 22, 2026

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