California

Merchants Capital Provides $193M in Financing for Two Affordable Housing Projects in Rocklin, California

by Amy Works August 26, 2026

ROCKLIN, CALIF. — Merchants Capital has provided roughly $193 million in financing for The Frances and The Steven, a pair of affordable housing developments in Rocklin, about 20 miles north of Sacramento. Developed by USA Properties Fund, the communities will provide 504 new affordable apartments for seniors and families across a range of income levels. Financing for The Frances includes a $72.1 million private placement bond loan through AllianceBernstein and $76.1 million in construction period debt to bridge incoming tax credit equity and permanent bond financing provided by Merchants Bank. Financing for The Steven includes a $30.6 million private placement tax-exempt bond loan through AllianceBernstein and $15 million in construction period debt provided by Merchants Bank. The Frances will feature 324 one-, two- and three-bedroom apartments designated to residents earning 30 to 70 percent of the area median income (AMI) with fully equipped kitchens, central air conditioning and walk-in closets. Community amenities will include a pool, playground, fitness center, courtyard/picnic area, community room, dog park, computer room, service coordinator and an onsite manager. The Steven will add 180 one- and two-bedroom apartments for seniors aged 55 and up that earn between 30 and 70 percent of AMI. Nonprofit organization LifeSTEPS will …

August 26, 2026

Serrano-Industrial-Park-Jurupa-Valley-CA

Acquisitions California Industrial Western

MDH Partners Buys Serrano Industrial Park in California’s Inland Empire West

by Amy Works August 26, 2026

JURUPA VALLEY, CALIF. — Atlanta-based investment firm MDH Partners has purchased Serrano Industrial Park, a Class A manufacturing campus in the Inland Empire city of Jurupa Valley. The new acquisition brings MDH’s California footprint to more than 1.5 million square feet. Newmark represented the undisclosed seller in the transaction, while James Hwang of MDH sourced the deal for the firm. Terms of the transaction were not released. Built in 2019, the 151,885-square-foot Serrano Industrial Park features two buildings offering 30- to 32-foot clear heights, ESFR sprinklers and “ample” dock-high loading. The larger building is equipped with 12,000 amps of power. At the time of sale, the property was fully leased to a single tenant. Additionally, the 8.3-acre site sits within a mile of State Route 60 and about five miles from I-10.

August 26, 2026

California Development Industrial Western

Hanover Co., Crow Holdings Capital Underway on 200,000 SF Industrial Project in Simi Valley, California

by Amy Works August 26, 2026

SIMI VALLEY, CALIF. — Hanover Co., in partnership with Crow Holdings Capital, is underway on construction of an industrial project on a 13-acre site at 903 Quimisa Drive in Simi Valley, located in southeastern California. The 200,000-square-foot building will feature 36-foot clear heights, an 8.5-inch slab, skylights, “ample” employee parking and proximity to California State Route 118. The project team includes Rasmussen as architect and M3 Civil as civil engineer. Deal partners include Chad Solomon of JLL and David Young of NAI Capital. Construction commenced in July with completion slated for summer 2027.

August 26, 2026

California Development Industrial Western

Elevation Land Co., Crow Holdings Capital Complete Phase I of Otay Business Park in California

by Amy Works August 25, 2026

SAN DIEGO — Elevation Land Co. and a real estate fund advised by Crow Holdings Capital have completed Phase I of Otay Business Park, a two-phase, 119-acre industrial and logistics campus in the Otay Mesa submarket of San Diego. The 612,240-square-foot initial phase includes: At full build-out, Otay Business Park will feature 1.8 million square feet of industrial space, spanning the Siempre Viva Road connection to State Route 11, which is the last exit on highway before entering the Otay East U.S./Mexico Port of Entry commercial border crossing. The first phase of this port-of-entry is slated to open in late 2027. Dempsey Construction is serving as general contractor for the project, which was designed by Ware Malcomb. Brant Aberg and Ryan Downing of Cushman & Wakefield are marketing the property for lease.

August 25, 2026

Acquisitions California Development Mixed-Use Multifamily Restaurant Retail Western

Burnham-Ward Properties Buys Retail Center in Tustin, California, Plans Mixed-Use Redevelopment

by Amy Works August 25, 2026

TUSTIN, CALIF. — Burnham-Ward Properties has purchased Enderle Center, a retail center in the Orange County city of Tustin. The company will redevelop the center, rebrand it as Campo on 17th and introduce approximately 60,000 square feet of revitalized commercial space and 100 new for-sale townhome residences. Intracorp will handle the development. Located at East Seventeenth Street and Enderle Center Drive, Campo on 17th will keep retail as the primary use while adding landscaping, water features, fire pit areas and a town green designed for year-round community gatherings. The redevelopment will include new building construction, remodeling of existing structures, upgraded utilities, reconfigured parking, improved circulation and sitewide enhancements. Leasing for retail space is underway for Campo on 17th, with units ranging from 988 square feet to 6,880 square feet. The restaurant Zov’s, a community staple since 1987, will debut a fully expanded and remodeled 8,200-square-foot space as an anchor tenant within the new project.

August 25, 2026

Acquisitions California Industrial Western

SENTRE Acquires Industrial Property in Carlsbad, California for $26.6M

by Amy Works August 25, 2026

CARLSBAD, CALIF. — SENTRE has purchased 2840 Loker Avenue East, an industrial facility in the Southern California city of Carlsbad, from Bixby Capital Management and LaSalle Investment Management for $26.6 million. Hunter Rowe, Michael Longo, Barbara Perriet and Matt Carlson of CBRE represented the seller in the deal. Additionally, CBRE’s Scott Peterson and Michael Kolcum arranged acquisition financing for the buyer, while CBRE’s Roger Carlson, Dennis Visser and Blake Wilson provided leasing advisory services for the property. Situated on 6.2 acres within Carlsbad Technology Center, the 104,298-square-foot property was fully leased at the time of sale to Glanbia Nutritionals, a global nutrition and performance products company. Completed in 1998, the building has served as a key operational and logistics hub for Glanbia Nutritionals for nearly 25 years and features 13 dock-high loading doors, two grade-level doors and 4,000 amps of power.

August 25, 2026

Acquisitions California Retail Western

Colliers Brokers $11.3M Sale of Kellogg Square Retail Center in Santa Barbara, California

by Amy Works August 25, 2026

SANTA BARBARA, CALIF. — Colliers has brokered the $11.3 million sale of Kellogg Square, a neighborhood retail center located at 5555-5585 Hollister Ave. in Santa Barbara. AJR Capital Group sold the property to an undisclosed buyer. Miles Waters, Austin Herlihy, Chris Parker and Mike Chung of Colliers represented the buyer in the transaction.

August 25, 2026

Acquisitions California Industrial Western

SRS Real Estate Partners Negotiates $41M Sale of Industrial Park in San Dimas, California

by Amy Works August 24, 2026

SAN DIMAS, CALIF. — SRS Real Estate Partners has negotiated the $41 million sale of San Dimas Commerce Center, a 19-building light industrial park at 410-490 W. Arrow Highway in San Dimas, located in the San Gabriel Valley area of Los Angeles County. An undisclosed institutional investor acquired the asset from an entity doing business as San Dimas BP LLC. Dave Faris and Richard Schwartz of SRS Real Estate Partners represented the seller in the deal. Situated on 10.5 acres, the 179,345-square-foot San Dimas Commerce Center was 90 percent occupied by more than 70 local and regional businesses at the time of sale. Most of the individually parceled buildings span less than 10,000 square feet.

August 24, 2026

Acquisitions California Multifamily Western

Marcus & Millichap Brokers $5.3M Sale of Los Angeles Apartment Building

by Amy Works August 24, 2026

LOS ANGELES — Marcus & Millichap has arranged the $5.3 million sale of an apartment building located at 1476 S. Shenandoah St. on the west side of Los Angeles. The sales price equates to $334,937 per unit. Sam Liberow of Marcus & Millichap represented the seller, a company operating as 1476 Shenandoah Street LLC, in the transaction and procured the buyer, a local owner-operator. Built in 1966, the 17,653-square-foot, 16-unit property features two- and three-bedroom units across a mix of floor plans.

August 24, 2026

Acquisitions California Multifamily Western

CBRE Brokers $34.5M Sale of Turtle Creek Apartments in Riverside, California

by Amy Works August 21, 2026

RIVERSIDE, CALIF. — CBRE has facilitated the sale of Turtle Creek Apartments in Riverside. Turtle Creek Residential LLC sold the asset to SC El Camino LLC for $34.5 million in an off-market transaction. Eric Chen and Blake Torgerson of CBRE handled the deal. Located at 4826 Van Buren Blvd., Turtle Creek features 98 one-, two- and three-bedroom apartments with an average unit size of 916 square feet. Units offer stainless steel appliances, granite countertops, vinyl plank flooring, in-unit washers/dryers and walk-in closets. Community amenities include a swimming pool, spa, fitness center, bark park, tot lot, gated entry and professional on-site management. Completed in 2020, the 89,776-square-foot property is situated on a 179,032-square-foot site.

August 21, 2026

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