California

Tutor Perini to Build $220M Expansion of Eagle Mountain Casino in Porterville, California

by Hayden Spiess July 3, 2025

PORTERVILLE, CALIF. — Tutor Perini Building Corp. — a subsidiary of civil, building and construction company Tutor Perini Corp. — has been awarded a $220 million contract to construct an expansion of the Eagle Mountain Casino in Porterville. The casino is located at 1850 West St., which is about 50 miles north of Bakersfield, Calif., and adjacent to the Porterville Fairgrounds. Tutor Perini will build the development on behalf of the Tule River Gaming Authority, which is operated by the Tule River Indian Tribe of California. Eagle Mountain Casino opened in 2023, replacing another casino that the Tule River Tribe had operated on the site since 1996. Dubbed the Eagle Mountain Casino Phase 2 Expansion, the project is scheduled to begin construction this summer. Substantial completion of the development is expected in 2027. Upon completion, the new phase will feature a 193-room tower with a rooftop restaurant; a central warehouse and offices; expansion of an existing restaurant; a new, 2,000-seat events center with convention space, breakout meeting rooms, pre-function space; and hotel amenities including a new spa, arcade and swimming pool. According to the Eagle Mountain Casino website, the current casino features 1,750 new and classic slot machines and 20 …

July 3, 2025

California Development Industrial Western

Partnership Breaks Ground on 700,000 SF Industrial Project in Ontario, California

by Amy Works July 3, 2025

ONTARIO, CALIF. — Real Estate Development Associates and Clarion Partners, along with Premier Design + Build Group, have broken ground on South Ontario Logistics Center — Building 6 (SOLC) in Ontario. Slated for delivery in June 2026, the 700,000-square-foot asset will feature 113 dock doors, 261 trailer stalls, 445 parking spaces, dual 2,000-kilowatt generators and a 16,000-amp electrical service.

July 3, 2025

Acquisitions California Multifamily Western

Marcus & Millichap Arranges $18.3M Sale of Terra Oceanside Apartment Complex in California

by Amy Works July 3, 2025

OCEANSIDE, CALIF. — Marcus & Millichap has arranged the sale of Terra Oceanside, a multifamily property in Oceanside. A personal trust sold the asset to a limited liability company for $18.3 million. Located at 3964 and 3970 Waring Road, Terra Oceanside offers 62 studio, one- and two-bedroom apartments with patios or balconies, vinyl flooring, quartz countertops and stainless steel appliances. Community amenities include an onsite management office, laundry facilities, a fitness center, built-in barbecues and ample covered and uncovered parking spaces. Tyler Leeson, Drew Holden and Matthew Kipp of Marcus & Millichap represented the seller, while Holden, Kipp, Leeson and David Yeh of Marcus & Millichap represented the buyer in the transaction.

July 3, 2025

California Hospitality Loans Western

MetroGroup Realty Finance Provides $13.9M Loan for Brand Conversion of 99-Key Hotel in San Mateo, California

by Amy Works July 3, 2025

SAN MATEO, CALIF. — Newport Beach, Calif.-based MetroGroup Realty Finance has provided a $13.9 million loan for the conversion of an existing 99-room Best Western hotel to a Home2 Suites by Hilton hotel in San Mateo. J.D. Blashaw of MetroGroup Realty Finance led the team in providing the financing. MetroGroup’s initial $9.5 million funding retired a bridge loan and provided $4.4 million of future funds to execute the brand conversion.

July 3, 2025

Acquisitions California Office Western

Creative Arsenal Sells 20,347 SF Office Building in Burbank, California

by Amy Works July 2, 2025

BURBANK, CALIF. — Creative Arsenal LLC has completed the sale of an office building, located at 400 S. Victory Blvd. In Burbank, to a private buyer for $5.8 million. The three-story property offers 20,347 square feet of creative office, production and post-production space and immediate access to I-5 and I-134. Gerard Poutier, Mark Shaffer, Anthony DeLorenzo and Dylan Rutigliano of CBRE represented the seller in the transaction.

July 2, 2025

California Loans Multifamily Western

IPA Arranges $61M Construction Financing for Apartment Property in San Mateo, California

by Amy Works July 1, 2025

SAN MATEO, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has secured $61 million in financing for the construction of Arbello, a mixed-use multifamily and office property in San Mateo. Located at 477 9th Ave., the five-story property will feature 120 for-rent apartments and 29,000 square feet of office space. Onsite amenities will include a coworking space, wellness center, clubhouse, expansive courtyard and rooftop deck. Brandon Roth of IPA advised and marketed the financing on behalf of The Martin Group and JPF Capital.

July 1, 2025

Acquisitions California Development Multifamily Western

CGI+ Sells Shovel-Ready Multifamily Development Site in Torrance, California for $40M

by Amy Works July 1, 2025

LOS ANGELES — CGI+, a Los Angeles-based multifamily investment firm, has completed the disposition of a shovel-ready, 4.9-acre development site in Torrance to JPI for $40 million. The property is entitled for a six-story, 525-unit residential building, with 34 units reserved for residents earning less than 30 percent of the area median income. Designed by AC Martin, the planned development will offer floor plans ranging from studio to three-bedroom apartments. Residences will be connected by a series of walking paths leading to four distinct and separate micro-environments offering amenities including outdoor workspaces, barbecue and dining areas, a spa, children’s playground, pet park and fire pits. A 28,000-square-foot aerial central park on top of the project’s eight-story garage will offer 360-degree views from the Pacific Ocean to downtown Los Angeles. The rooftop park will feature a resort-style pool, coffee shop, clubhouse, indoor/outdoor gym, pickleball court and outdoor lounge spaces. Chris Gomez-Ortigoza and Tim Barden of Land Advisors Organization marketed the fully entitled development site on behalf of CGI+.

July 1, 2025

Acquisitions California Office Western

Marcus & Millichap Brokers Sale of 31,701 SF Multi-Tenant Office Building in San Jose, California

by Amy Works June 30, 2025

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of 1054 South De Anza Boulevard, a three-story multi-tenant office property in San Jose. The asset sold for $9.7 million. Yuri Sergunin, Vince Schwab and J.J. Taughinbaugh of Marcus & Millichap represented the undisclosed seller, while Simon Chen of Buffalo RE represented the undisclosed buyer in the deal. Constructed in 1985 on 1.2 acres, the 31,701-square-foot property features an atrium, elevator access and ample parking. At the time of sale, the building was 75 percent occupied.

June 30, 2025

Acquisitions California Retail Western

Brixton Capital Buys Portion of Elk Grove Village Shopping Center in California

by Amy Works June 27, 2025

ELK GROVE, CALIF. — Brixton Capital has purchased four parcels of the Elk Grove Village shopping center from Elk Grove Village LLC (Mima Capital LLC) for $10.6 million. The neighborhood retail center is located at 8511-8591 Elk Grove Blvd. in Elk Grove, approximately 15 miles south of Sacramento. At the time of sale, the property was fully leased. Current tenants include Arby’s, Macque’s BBQ, Plaza del Sol restaurant and Papa Murphy’s Pizza. Over the next five years, Brixton plans to make improvements to the center, which was built between 1984 and 1988. Randy Getz of CBRE represented the seller, while Brixton Capital was self-represented in the transaction.

June 27, 2025

Acquisitions California District of Columbia Multifamily Southeast Top Stories Western

JRK Property Holdings Acquires Two Apartment Communities in Los Angeles, Washington, D.C. for $315M

by Abby Cox June 27, 2025

LOS ANGELES AND WASHINGTON, D.C. — Los Angeles-based JRK Property Holdings has acquired two apartment communities totaling 684 units, Chase Knolls in Los Angeles and WestEnd25 in Washington, D.C., in two separate transactions for a combined total of $315 million. Located on 14 acres in the Los Angeles neighborhood of Sherman Oaks, Chase Knolls is a 401-unit garden-style community that encompasses nearly two city blocks. The property was originally built in 1949 to include 260 Art Deco-inspired apartment homes across 19 one- and two-story residential buildings. In 2021, a new clubhouse and resort-style swimming pool were integrated into the community, along with 141 new units that were constructed to occupy six additional residential buildings. JRK also plans to make further enhancements to the complex to improve the community amenities and common areas. According to Cushman & Wakefield, which marketed the property for sale on behalf of the undisclosed seller, Chase Knolls is one of only 12 apartment communities exceeding 100 units built in Sherman Oaks over the past 75 years, a testament to the significant development hurdles in the area, such as limited land and high barriers to entry. The second property, WestEnd25, is a 283-unit high-rise apartment community that …

June 27, 2025

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