SAN JOSE, CALIF. — San José State University (SJSU) has purchased Spartan Village on the Paseo (SVP) at 184 S. Market in downtown San Jose from Throckmorton Partners for $165 million. Throckmorton acquired the asset, the former Signia by Hilton Hotel south tower, in November 2023 and commenced a nine-month conversion into a 264-room student housing property with beds for approximately 700 undergraduate students. The 14-story property offers an onsite dining area and community kitchen, a fitness center, games room, co-learning spaces and a study lounge in the sky bridge. SJSU was granted access to $89 million in debt relief capacity as part of the state’s Higher Education Student Housing Grant program that allowed the university to enter a lease agreement with Throckmorton Partners. The agreement included an option to purchase after two years, which SJSU has implemented to assume ownership of the building.
CARLSBAD, CALIF. — CBRE has arranged the sale of an industrial property located at 1695 Faraday Ave. in Carlsbad. AG-LC 1695 Faraday Owners LLC sold the asset to Faithway LLC for $13.5 million. Dennis Visser and Weston Yahn of CBRE represented the seller, while Blake Wilson and Roger Carlson of CBRE represented the buyer in the deal. Situated on 4.1 acres within Carlsbad Research Center, the 63,062-square-foot property features 3,000 amps of power, 24- to 25-foot clear heights and three dock-high doors.
SAN RAMON, CALIF. — AvalonBay Communities has closed on the purchase of a 5.7-acre site at 6200 Bollinger Road in San Ramon from Sunset Development Co. for an undisclosed price. Situated within the master-planned Bishop Ranch, the site will become Avalon San Ramon featuring two five- and seven-story residential buildings linked by a breezeway. The property will offer 456 apartments with spacious layouts, modern finishes and flexible spaces. Community amenities will include a fitness center, pool, work lounge, clubhouse, rooftop deck and a WAG Pet Spa. Construction is commencing this month, with completion slated for late 2027.
THOUSAND OAKS, CALIF. — Atlantic Pearl Investments, a Ghassemieh family investment vehicle, has purchased Westlake Gardens, a two-building office campus in Thousand Oaks. A private seller sold the property for $19.2 million, or $193 per square foot. Located at 2535 and 2555 Townsgate Road, the asset offers 99,545 square feet of Class A office space. Sean Fulp, Mark Schuessler, Blake Hammerstein and Jordan Garcia of Colliers represented the seller. Jason Roth, also of Colliers, arranged acquisition financing for the buyer.
RIVERSIDE, CALIF. — Progressive Real Estate Partners has negotiated the $4.6 million sale of an 8,960-square-foot, multi-tenant retail building located at 18530 Van Buren Blvd. in Riverside. Built in 1996, the property is 90 percent leased to seven food- and service-oriented tenants, including Subway, H&R Block, a barbershop and a pool supply store. The retail building is part of Orangecrest Plaza, a grocery-anchored shopping center. Orangecrest Plaza features several national tenants such as Albertsons and Petco. Greg Bedell and Trinnie Lee of Progressive represented the seller, a private Orange County-based investor, in the transaction. Vicky Casey and Josh Labogin of Casey & Associates represented the buyer, a Central California-based private investor.
VISTA, CALIF. — Brixton Capital has completed the disposition of Pavilion Shopping Center, a grocery-anchored retail center in Vista. Milan Capital Management acquired the asset for $30.5 million. Located at 1900-98 Hacienda Drive, the open-air shopping center offers 137,742 square feet of retail space. At the time of sale, the property was 95.3 percent leased to a variety of tenants, including North Park Produce, Skechers, Dutch Bros Coffee, Biolife Plasma Services and Dunn-Edwards Paints. The Dutch Bros drive-thru pad building was completed in February 2025. Situated on 10.8 acres, the property underwent extensive capital improvements, including a completely renovated parking lot that was sealed and striped in March 2025. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL represented the seller. Jeff Sauze, John Chun and Allie Black of JLL secured $19.5 million in acquisition financing for the buyer.
CORONA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sale of Sierra del Oro Towne Centre, a 110,485-square-foot shopping center located in Corona. Ralphs and Dollar Tree anchor the property, which was fully leased at the time of sale. Additional tenants include Anytime Fitness, Chase Bank, Jack in the Box, Domino’s Pizza, Green River Montessori School, Wingstop, Kumon Math and Reading Center, Fantastic Sams Cut & Color and PostalAnnex. Sierra del Oro Towne Centre marks Hanley’s sixth grocery-anchored shopping center sale over the previous 12 months. Kevin Fryman and Ed Hanley represented the seller, Phillips Edison & Co., in the transaction. Jesse Millman of Newmark represented the buyer, a private 1031 exchange investor based in Northern California.
FILLMORE AND SAN BERNADINO, CALIF. — Helios Healthcare Advisors has arranged the refinancing of a two-property portfolio in California. EVA Care Group was the borrower. The portfolio totals 165 beds across a skilled nursing facility in San Bernardino and an assisted living community in Fillmore. According to Helios, both properties were previously mortgage free, allowing for greater liquidity. Helios secured funding through a private credit fund. The financing was structured to strengthen working capital throughout the borrower’s broader portfolio.
IRVINE, CALIF. — Advanced Real Estate has acquired Newhope Village, a multifamily property located in Irvine. Terms of the transaction were not disclosed. The gated, podium-style property features 104 apartments, a pool, fitness center and tot lot. Advanced Real Estate plans to renovate and upgrade the asset including the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. Upgrades will be completed by Advanced’s in-house construction company, R3 Construction, and in-house property management company, Advanced Management Co.
NEW YORK CITY — Global alternative investment firm Investcorp has completed the $400 million acquisition of an industrial portfolio located in markets across the Eastern and Western United States. The seller was not disclosed. Totaling 2.6 million square feet, the portfolio comprises 35 buildings across seven markets. Properties in the portfolio include a 76,000-square-foot, two-building portfolio in Philadelphia; a 44,000-square-foot building in New Jersey; 92,000 square feet across two buildings on Long Island; a 1.3 million-square-foot logistics portfolio in Sacramento, Calif.; 156,000 square feet across two buildings in Tampa, Fla.; a 115,000-square-foot, three-building portfolio in South Florida; and a 12-building, 814,000-square-foot portfolio on Atlanta’s north side. Average occupancy across the portfolio was at 97 percent as of October. According to Green Street Advisors, each of the seven markets associated with the portfolio saw strong demand growth in the industrial sector during the third quarter of 2025. The firm noted that new supply in these markets makes up less than 1.3 percent of current inventory. “Despite shifting trade dynamics and supply chain disruptions across the country, the U.S. industrial sector has retained its foundational strength,” says Herb Myers, global head of real assets at Investcorp. “This is particularly true for these and similar …
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