California

Faris Lee Brokers $37.3M Sale of 97,319 SF Retail Space in Lakewood, California

by Amy Works November 2, 2026

LAKEWOOD, CALIF. — Faris Lee Investments has arranged the sale of a 97,319-square-foot portion of Lakewood Center, a retail center in Lakewood. A consortium of multiple owners sold the asset to an undisclosed seller for $37.3 million. Situated on 5 acres within Lakewood Center, the sold portion is leased to tenants including Burlington, 24 Hour Fitness and Bank of America. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee represented the seller in the deal. This is the second large portion of Lakewood Center that Faris Lee has sold this year, culminating in a total of $76 million. Lakewood Center occupies a full city block at four major signalized intersections. Major retailers at the center include Costco, Target, The Home Depot and Albertsons.

November 2, 2026

Acquisitions California Multifamily Seniors Housing Western

Joint Venture Acquires 122-Unit Seniors Housing Community in San Diego

by Amy Works November 2, 2026

SAN DIEGO — A joint venture between a private equity group and a local operator has acquired Canyon Villas, a 122-unit seniors housing community located in the Clairemont neighborhood of San Diego. The San Diego Christian Foundation sold the property for an undisclosed price. Constructed in 1991, the community features independent living, assisted living and memory care residences. Amenities at the property include a courtyard, library, gazebo, activity room and transportation services. Hap Knowles, Nick Stahler and Michael Mooney of Marcus & Millichap brokered the sale on behalf of the seller. Though the sales price was not disclosed, a board member of the San Diego Christian Foundation said in a statement that the deal closed at a price that was “nearly 50 percent more than other brokers thought possible.”

November 2, 2026

Acquisitions California Retail Western

Coastal Commercial Arranges Sale of Historic Balboa Theater in Newport Beach, California

by Amy Works November 2, 2026

NEWPORT BEACH, CALIF. — Coastal Commercial has brokered the sale of Balboa Theater, a nearly century-old landmark theater located at 707 E. Balboa Blvd. in Newport Beach. A local family office sold the asset to a local private real estate investor for an undisclosed price. The new owner plans to restore the theater, which originally opened in 1928 as Ritz Theater. The theater ultimately closed in 1991 and despite previous restoration efforts, the property has remained closed for approximately 35 years. Coastal Commercial represented the seller, while Christian Emerson of The Oppenheim Group represented the buyer in the transaction.

November 2, 2026

California Development Multifamily Western

Lewis Apartments Opens 208-Unit Community in West Sacramento

by Amy Works October 30, 2026

WEST SACRAMENTO, CALF. — Lewis Apartments, the multifamily development and management arm of Upland, Calif.-based Lewis Group of Cos., has completed and opened Independence, a 208-unit rental townhome community in the Southport area of West Sacramento. The community comprises two- and three-bedroom units ranging from approximately 1,176 to 1,722 square feet, with private entrances, direct-access one- and two-car garages and private outdoor living spaces. Amenities include a heated pool and a hot tub area with cabanas, a 24-hour fitness center, pickleball courts, outdoor barbecue and gathering areas, a fire table, dog park and spa, package lockers and a borrow-a-bike program. Independence in West Sacramento is Lewis’ second Independence-branded development in Northern California, following on the heels of Independence in Dixon, which opened in 2025. Lewis plans to expand the Independence concept to additional Northern California markets, with future communities planned in Folsom, Vacaville, Fairfield, Newark and other locations.

October 30, 2026

California Development Loans Multifamily Student Housing Western

Northmarq Arranges $24M in Construction Financing for Student Housing Project Near UC Berkeley

by Amy Works October 30, 2026

BERKELEY, CALIF. — Northmarq has arranged $24 million in construction financing for the development of 2372 Ellsworth Street, a 166-bed student housing community located at the corner of Ellsworth Street and Channing Way near the University of California, Berkeley campus. Briana DeHaan and Brandy Buttram of Northmarq secured the financing on behalf of an undisclosed borrower. The community will offer 49 units upon completion. Further details on the project were not announced.

October 30, 2026

Acquisitions California Retail Western

CBRE Brokers $18.3M Sale of Five Retail Properties in Eastvale, California

by Amy Works October 30, 2026

EASTVALE, CALIF. — CBRE has facilitated the $18.3 million sale of five retail properties at Eastvale Gateway South, a retail portfolio at 12464-12574 Limonite Ave. in Eastvale. Edward Matevosian, Cray Carlson and Jenny Eng of CBRE represented the seller in the transactions and also represented the multiple buyers. Situated on 5.4 acres and totaling 236,096 square feet, the transactions include:

October 30, 2026

California Development Loans Multifamily Western

Truist Provides $152M Construction Loan for Marina Shores Multifamily Project in Long Beach

by Amy Works October 29, 2026

LONG BEACH, CALIF. — Truist has closed a $152 million construction loan for Marina Shores, an apartment community at 6615 E. Pacific Coast Highway in Long Beach. Carmel Properties is developing the asset. The six-story project will convert an office complex and surface lot into a mixed-income community with 390 apartments and approximately 5,400 square feet of ground-floor retail space. Construction began in October, with completion slated for March 2029. Truist served as administrative agent and sole bookrunner on the development loan. Jason Paxton and Walt Reece led the transaction.

October 29, 2026

California Loans Retail Western

Gantry Secures $31M Refinancing for Value-Add Retail Property in Southern California

by Amy Works October 29, 2026

LANCASTER, CALIF. — Gantry has secured a $31 million permanent refinance for the Valley Central Shoppes, located at 44410-44690 Valley Central Way in Lancaster. Tony Kaufmann, Jake Davis and Ramza Zeiter of Gantry represented the borrower, a private real estate investor. The 10-year, fixed-rate, nonrecourse loan was secured from one of Gantry’s insurance company correspondents. Gantry will service the loan for the lender. The 174,000-square-foot inline center is part of a master-planned retail power center cluster and shadow anchored by a Walmart Supercenter and a Food 4 Less. Additional tenants includes Boot Barn, Staples, Marshalls, Five Below, Planet Fitness, Starbucks Coffee, Jersey Mike’s Subs, Black Angus Steakhouse, Ulta, Sally Beauty Supply, Lenscrafters, Calidental, America’s Tire Co. and additional entertainment, restaurant and necessities retailers.

October 29, 2026

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Negotiates Sale of 34,168 SF Industrial Building in Oceanside, California

by Amy Works October 29, 2026

OCEANSIDE, CALIF. — William Roth Group of Lee & Associates has arranged the sale of 2620 Temple Heights Drive in Oceanside. Temple Heights Property Co. LLC sold the asset to 2620 Temple Heights LLC for $6.1 million. The owner-user buyer plans to expand its operations into the 34,168-square-foot industrial building that features 30 percent of office space and four grade-level loading doors. The property is situated on 2.1 acres. Rusty Williams, Chris Roth and Jake Rubendall of Williams Roth Group represented the seller, while Jim Benson of Kidder Mathews represented the buyer in the transaction.

October 29, 2026

Acquisitions California Office Western

CBRE Brokers $14.3M Sale of Office Property in La Palma, California

by Amy Works October 28, 2026

LA PALMA, CALIF. — CBRE has brokered the sale of an office building located at 20 Centerpointe Drive in La Palma. A local private investor acquired the property from an institutional seller for $14.3 million, or $255 per square foot. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Jackson Marlow of CBRE represented the seller in the deal. Built in 1988 on 3.5 acres, the single-story property features 56,175 square feet of office space and 194 parking spaces. At the time of sale, the building was 84 percent leased. Current tenants include Convergint Technologies, ISEC Inc. and Telecare Corp.

October 28, 2026

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