LOS ANGELES — Marcus & Millichap has arranged the sales of two apartment complexes in the Brentwood neighborhood of Los Angles for a combined value of $46.3 million. Rabbie Banafsheha and Tony Azzi of the Azzi Group of Marcus & Millichap represented the seller in the deal. Totaling 61 units, the properties include an asset at 11911 Mayfield Ave. with 31 units and a nonconforming studio and a 29-unit building at 11860 Kiowa Ave.
SAN DIEGO — Compass Capital Investments has acquired RB Medical Plaza, a medical office property located at 11770 Bernardo Plaza Court in San Diego, from Bernardo Court MOB LLC for $18.2 million. RB Medical Plaza offers 71,971 square feet of medical office space spread across two buildings. The medical tenant mix includes dermatology, urology, pain management and chiropractic services. The asset was originally built in the 1980s and remodeled in 2023. Matt Porch, Anthony DeLorenzo and Chris Bodnar of CBRE represented the seller in the transaction.
PASADENA, CALIF. — GreenTree Hospitality Group has completed the sale of GreenTree Pasadena Inn in Pasadena to a private buyer for an undisclosed price. Stanley Wang and Gordon Allred of the Allred Hotel Group at Marcus & Millichap represented the seller in the deal. Located at 400 S. Arroyo Parkway, GreenTree Pasadena Inn is situated a few blocks from the Pasadena Convention Center, Old Pasadena and the historic Rose Bowl.
FAIRFIELD, CALIF. — The Picklr has signed a lease to open an 18,500-square-foot facility at 1574 Gateway Blvd. in Fairfield. Slated to open in May, the location will be The Picklr’s second Northern California facility. The Picklr Fairfield will offer seven pickleball courts, including one championship court, AI-powered coaching technology, league play, tournaments and drop-in play opportunities. Additional amenities will include a pro shop, grab-and-go food-and-beverage options, private event spaces, locker rooms and showers, outdoor surfacing areas and court reservations. John Brecher of JLL represented The Picklr in the lease negotiations. Founded in 2021, The Picklr is a membership-based indoor pickleball club concept designed to provide high-quality courts for players of all levels.
HANFORD, CALIF. — Dwight Capital has closed a $23 million HUD 223(f) refinance loan for Berkshire Crossing, a multifamily community in Hanford. Keith Hoffman and Aaron Kirshtein of Dwight Capital originated the transaction on behalf of the borrowers, Fresno Supreme and Santa Lucia Ventures. The loan proceeds will be used to refinance existing debt on the property, provide the borrower with cash-out and 35-year fully amortizing, fixed-rate financing. Completed in 2022, Berkshire Crossing offers 92 garden-style one-, two- and three-bedroom floor plans spread across four residential buildings. Units feature stainless steel appliances, ceiling fans, walk-in closets and private patios and balconies. Community amenities include a swimming pool, spa, fitness center, package lockers and a community clubhouse.
LOS ANGELES — Raintree Partners has completed the sale of Axiom Westwood, a four-building student housing portfolio adjacent to University of California, Los Angeles (UCLA), to a private multifamily investor for $62.6 million. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built between 1962 and 1967, Axiom Westwood offers 153 units featuring dual-pane windows, full-size kitchens and air conditioning, with select units offering vaulted ceilings, fireplaces and patios or balconies. Axiom Westwood features controlled access, laundry facilities, elevators, two swimming pools, three gas barbecue grills and gated and covered parking.
LOS ANGELES — Mosaic Investment Partners has completed Tessera, a $56 million student housing development located at 1069 West Exposition Blvd. near the University of Southern California campus in Los Angeles. The seven-story community offers 250 beds across 53 fully furnished units in studio through four-bedroom configurations. Shared amenities include a 6,000-square-foot rooftop sky deck with a resort-style pool, open-air dining areas, lounge space, fire pits and a dedicated pet park; and a second-floor amenity deck with barbecue areas, outdoor lounges and an indoor-outdoor fitness center. The property also offers study spaces on various floors. The development team for the project included SVA Architects, Sorensen Architects, Oakwood Development Group and Alpha Construction. JLL Capital Markets secured joint venture equity and mezzanine financing from HC2 Capital for the development, alongside a senior construction loan from Calmwater Capital.
OXNARD, CALIF. — JLL Capital Markets has secured $55.7 million in financing for the acquisition of Tempo at Riverpark in Oxnard. The borrower is Hines U.S. Property Partners, Hines’ flagship commingled U.S. core plus fund. Kevin Mackenzie, Annie Rice, Brandon Smith, Gyasi Edmondson and Alyssa Malley of JLL arranged the five-year loan through a bank for the borrower. Located at 450 Forest Park Blvd., Tempo at Riverpark features 235 apartments with in-unit laundry, stainless steel appliances and private patios or balconies. Community amenities include a 24-hour fitness center, luxury pool and spa, resort-style cabana seating, resident lounge with gas fireplace and private garages for select units. Built in 20216, the property was 95.7 percent occupied as of December 2025.
DAVIS, CALIF. — Interstate Equities Corp. (IEC) has purchased a two-property apartment portfolio in Davis for $42.8 million from an undisclosed seller. The portfolio includes Pepperwood Apartments at 2222 Sycamore Lane and Temescal Apartments at 2477 Sycamore Lane. Situated approximately 2.8 miles from the University of California, Davis, the portfolio currently offers 141 units, or 357 beds. IEC plans to gradually transition leasing toward a “by-bedroom model,” which is prevalent in the Davis student housing market. Constructed in 1981 and 1983, Pepperwood and Temescal offer a mix of one-, two-, three- and four-bedroom apartments averaging approximately 1,090 square feet. The properties offer value-add potential, and IEC plans to maintain affordability while implementing targeted interiors and exterior upgrades to Pepperwood.
SAN BERNARDINO, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $3.6 million sale of a single-tenant retail property leased to Starbucks Coffee in San Bernardino. The newly constructed, drive-thru-only café prototype spans 1,200 square feet and operates on a 15-year triple-net corporate lease with 10 percent rental increases every five years. The asset is located at 291 E. Hospitality Lane. Bill Asher and Jeff Lefko of Hanley represented the seller, a local developer, in the transaction. David Kluver of Lee & Associates represented the buyer, a local investor from Orange County.
