California

Tishman Speyer Sells Office Building in Mountain View, California to Spear Street Capital for $121.5M

by Amy Works September 4, 2026

MOUNTAIN VIEW, CALIF. — Tishman Speyer has completed the disposition of 400 Castro Street, a Class A office building in downtown Mountain View, to Spear Street Capital for $121.5 million, or $876 per square foot. Tishman Speyer developed the 138,000-square-foot asset in 2002 and immediately leased the office space in full to Fenwick & West, which still occupies the property. With convenient access to highways and Caltrain, 400 Castro features roof decks, underground parking and views of the San Francisco Bay and coastal mountains. Additionally, the property offers onsite restaurants, including Cascal, Peet’s Coffee and Sweetgreen.

September 4, 2026

Acquisitions California Retail Western

SRS Real Estate Arranges $11.7M Sale of Lumberjack Square Shopping Center in Bakersfield, California

by Amy Works September 4, 2026

BAKERSFIELD, CALIF. — SRS Real Estate Partners has arranged the $11.7 million sale of Lumberjack Square, an 85,031-square-foot shopping center located in Bakersfield. Body Xchange, a fitness and health club, anchors the property, which features a mix of additional tenants including DaVita and The Firehouse. Matthew Mousavi and Patrick Luther of SRS represented the seller, a California-based partnership. The buyer, also a California-based partnership, acquired the property with new financing.

September 4, 2026

Acquisitions California Retail Western

Marcus & Millichap Brokers $8.3M Sale of Two-Property Retail Portfolio in Metro San Diego

by Amy Works September 4, 2026

ENCINITAS, CALIF. — Marcus & Millichap has brokered the $8.3 million sale of a two-property retail portfolio located roughly 25 miles north of San Diego in Encinitas. The first property, located at 548-568 S. Coast Highway 101, spans 5,698 square feet of retail space and includes five suites in two adjacent buildings. Adam Robinson of RAF Pacifica Group purchased the property for $4.7 million. The second property, located at 571 2nd St., features 6,508 square feet of retail and office space, as well as six suites. Brett Farrow, a local architect, purchased the property for $3.6 million. Ross Sanchez and Nick Totah of Marcus & Millichap marketed the properties on behalf of the seller, George Charles Gowland Separate Property Trust. The agents also secured and represented both buyers in the transaction.

September 4, 2026

California Development Loans Multifamily Western

CEDARst Cos. Receives $80M Construction Loan for The Samuel Multifamily Property in San Diego

by Amy Works September 3, 2026

SAN DIEGO — Chicago-based CEDARst Cos. has received an $80 million construction loan forThe Samuel, a 197-unit multifamily project that will be located in San Diego’s North Park neighborhood. Zach Kersten, Jack Wood and Ben Choromanski of JLL arranged the three-year, floating rate loan through Boston-based CrossHarbor Capital Partners. Located at 2821 Adams Ave., The Samuel will be an eight-story building with studio, one- and two-bedroom units. Community amenities will include a pool, fitness center, coworking lounge, fire pits, game deck and a rooftop lounge with an outdoor kitchen. Construction is expected to begin later this year with completion slated for the fourth quarter of 2028.

September 3, 2026

California Development Multifamily Student Housing Western

Gilbane, CBRE IM Complete 484-Bed Student Housing Project Near University of California, Berkeley

by Amy Works September 3, 2026

BERKELEY, CALIF. — A partnership between Gilbane Development and CBRE Investment Management (IM) has completed Pique, a 484-bed student housing development located at 2587 Telegraph Ave. near the University of California, Berkeley campus. Construction of the property commenced in October 2025. The eight-story community offers 53 units in four-, five- and six-bedroom configurations with bed-to-bath parity. Shared amenities include an indoor/outdoor yoga and fitness center, outdoor study terraces, two rooftop decks, a community terrace, coworking lounge and smart food lockers and private study pods on each floor. The property also features 2,900 square feet of ground-floor retail space.

September 3, 2026

California Industrial Loans Western

PSRS Arranges $14M Loan for Refinancing of Industrial Flex Facility in Irvine, California

by Amy Works September 3, 2026

IRVINE, CALIF. — PSRS has arranged a $14 million loan for the refinancing of an industrial flex facility in Irvine. Formerly part of the St. John corporate campus, the 99,576-square-foot facility features a climate-controlled warehouse with 20-foot clear heights, four dock doors, five drive-in doors and dedicated office space. Michael Tanner and David Sarnoff of PSRS placed the loan, which carries a 60 percent loan-to-value loan ratio with a two-year, full interest-only term, through an undisclosed debt fund.

September 3, 2026

Acquisitions California Office Western

Joint Venture Acquires 95,551 SF Office Building in San Marcos, California

by Amy Works September 2, 2026

SAN MARCOS, CALIF. — A joint venture between Newport National Corp., Bluebird Capital Group and Salt Lake City-based Sundance Bay has acquired Civic View Corporate Centre, an office building located at 300 Rancheros Drive in San Marcos a northern suburb of San Deigo. At the time of sale, the 95,551-square-foot property was fully leased to a variety of tenants, including Smith Chason College, Black and Veatch and San Diego Regional Center. Newport National Corp. originally developed the property in 2008 and sold it in 2015. With this reacquisition, the joint venture plans to invest in tenant improvement packages, including upgraded building amenities. The new ownership has retained Chris Williams and Victoria Soto of CBRE to handing leasing for the property. Rick Reeder and Brad Tecca of Newmark, San Diego represented the undisclosed seller in the deal.

September 2, 2026

Build-to-Rent California Development Loans Single-Family Rental Western

Canyon Partners, J.P. Morgan Provide $74.7M Construction Loan for Inland Empire Townhome Project

by Amy Works September 1, 2026

RIVERSIDE, CALIF. — Canyon Partners and J.P. Morgan have provided a $74.7 million senior construction loan for a townhome rental project in Riverside’s Mission Grove neighborhood. The developer, BCT Development, is a joint venture between Bain Capital Real Estate and Cherry Tree Development. The community has yet to be branded, but plans call for 180 rental townhomes in a mix of two-, three- and four-bedroom floor plans, as well as amenities such as a pool, fitness center and clubhouse. A construction timeline was not disclosed. The financing represents Canyon’s second senior construction loan to BCT this year following the closing of a $91.3 million loan in March for the development of a 232-unit rental townhome community, also located in Riverside.

September 1, 2026

Acquisitions California Multifamily Western

Northmarq Arranges $23.5M Sale of Two-Property Multifamily Portfolio in Northern California

by Amy Works September 1, 2026

UKIAH, CALIF. — Northmarq has arranged the $23.5 million sale of a two-property multifamily portfolio in the Northern California city of Ukiah. Ridge Capital Investments sold the portfolio to an undisclosed buyer. Totaling 121 units, the portfolio includes Sierra Sunset Village at 505-531 Capps Lane and Alderwood Apartments at 1416 and 1450 S. State St. The 68-unit Sierra Sunset Village features mostly two-bedroom apartments with open floor plans, stainless steel appliances, hardwood-style flooring and central air conditioning. Community amenities include a pool, fitness center and an outdoor picnic area. Alderwood Apartments offers 53 units in a mix of two- and three-bedroom floor plans that are furnished with energy-efficient appliances, hardwood-style flooring and private balconies.Onsite amenities include a resort-style pool, covered garage parking and outdoor grilling areas. Zach LeBeouf and Anthony Pappageorge of Northmarq’s Walnut Creek, Calif., Investment Sales team represented the seller in the deal.

September 1, 2026

Affordable Housing California Development Multifamily Western

Waterford Property Co. Breaks Ground on Affordable Housing Project in Milpitas, California

by Amy Works August 31, 2026

MILPITAS, CALIF. — Newport Beach, Calif.-based Waterford Property Co. has started construction of a 75-unit affordable multifamily property located at 1397 California Circle in Milpitas, located in California’s Santa Clara County. As part of a larger residential master-planned community, the 75-unit property will offer apartments to families earning between 30 percent to 70 percent of the area median income. Slated for completion in early 2028, the project is being financed with 4 percent Low-Income Housing Tax Credits and private activity bonds. Designed by KTGY Architecture and built in partnership with C&C Development, the community will feature four floors of residential space above a parking garage. Community amenities will include two podium-level courtyards, a tot lot, barbecue and outdoor gaming area, lounge, community room, teen homework room, fully equipped community kitchen and dining area, entertainment space with TV and foosball table, a yoga/fitness studio, bike storage and electric vehicle charging stations. Through a partnership with the nonprofit organization Pacific Housing Inc., residents will have access to no-cost, onsite social services programming, including after-school youth tutoring, teen leadership and social skill development and adult financial literacy and wellness classes, as well as dedicated service coordination for individual families. Construction financing was provided by …

August 31, 2026

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