California

Waterton Acquires 482-Unit Reserve at Chino Hills Apartments in California

by Amy Works September 11, 2026

CHINO HILLS, CALIF. — Waterton has purchased Reserve at Chino Hills, a multifamily property in Chino Hills. Terms of the transaction were not disclosed. Situated on 20 acres at 4200 Village Drive, the garden-style community features 46 residential buildings and a clubhouse. Reserve at Chino Hills, built in 1987, offers 482 studio, one- and two-bedroom floor plans with in-unit washers/dryers and private patios and balconies. The property’s townhomes component, which was built in 2024, offers residents three-bedroom configurations. Community amenities include three outdoor pools, three hot tubs, an outdoor lounge area with a fireplace and TV, a grilling and picnic area, a dog park and playground. The clubhouse, built in 2018, includes a fitness center, children’s room, well-appointed lounge, game room and coworking spaces. Waterton plans to renovate the residences to a modern finish level with new flooring, stainless steel appliances, quartz countertops, cabinet upgrades, lighting and plumbing fixtures, hardware and backsplashes. Additionally, Waterton plans to refresh fixtures and furnishings while contemplating a reconfiguration of underutilized spaces to maximize the resident experience.

September 11, 2026

California Development Multifamily Western

MidPen Housing Completes 50-Unit Jessie Street Terrace Affordable Housing Property in Santa Cruz

by Amy Works September 11, 2026

SANTA CRUZ, CALIF. — MidPen Housing has completed and opened Jessie Street Terrace, an affordable housing redevelopment in Santa Cruz. Formerly a 14-room hotel, Jessie Street is now comprised of 50 studio and one-bedroom permanent supportive housing units reserved for tenants earning between 20 and 50 percent of the area median income. About half of the apartments are reserved for veterans, while others are set aside for people who have previously experienced homelessness. MidPen Property Management manages the asset. Through partnerships with Palo Alto Veterans Affairs and the County of Santa Cruz Health Services Agency, residents have access to on-site services, programs and case management. The architect was The Paul Davis Partnership, and the builder was Devcon Construction.

September 11, 2026

California Development Loans Retail Western

HKS Real Estate Arranges $7.8M in Construction Financing for Two Retail Developments in California

by Amy Works September 9, 2026

FRESNO AND CLOVIS, CALIF. — HKS Real Estate Advisors has arranged $7.8 million in construction financing for two ground-up retail developments in Fresno and Clovis. Alex Dobosh and Andrew Pilchick of HKS secured the loans through North American Savings Bank on behalf of the borrower, Bottom Line Group. The first project will be a 4,771-square-foot 7-Eleven convenience store and gas station located in Fresno. The second project, which will total 11,353 square feet, will feature another 7-Eleven and a three-unit retail building in Clovis. Chipotle Mexican Grill and Phoenician Express have already committed as tenants at the property.

September 9, 2026

Acquisitions California Office Top Stories

Broadcom Acquires Corporate Campus in Southern California for $325M

by Hayden Spiess September 9, 2026

IRVINE, CALIF. — Semiconductor and infrastructure software company Broadcom Inc. (NASDAQ: AVGO) has completed the acquisition of its Southern California campus located in Irvine for $325 million. Washington, D.C.-based PRP Real Assets was the seller. Developed in 2017 and 2018, the campus was built as the corporate headquarters for Broadcom, which occupies the property on a net-lease basis. PRP Real Assets has owned the campus since 2020. Situated within the Irvine Spectrum District, the Broadcom Corporate Campus totals 660,893 square feet and features two five-story office buildings. Gensler designed the 9.6-acre campus, which also features nearly 3,000 parking spaces. According to PRP Real Assets, the property benefits from its location near retail, dining, hotels and public transportation, with the latter including the Irvine Station. “Broadcom’s decision to acquire the campus underscores the property’s importance to the company’s operations and validates the principles behind our mission-critical net lease strategy,” says Paul Dougherty, president of PRP Real Assets. “The campus combines a high-quality asset, a strong tenant and an irreplaceable location in one of the nation’s leading technology markets.” PRP Real Assets is a privately held real estate investment and management company. Founded in 2005, the firm has acquired more than $6 …

September 9, 2026

Acquisitions California Multifamily Western

MBK Rental Living, Haseko Sell 315-Unit Zia Multifamily Community in Anaheim

by Amy Works September 8, 2026

ANAHEIM, CALIF. — MBK Rental Living and development partner Haseko Corp. have sold Zia, a 315-unit multifamily community in Anaheim that opened in September 2024. The buyer was an unnamed institutional investor. Zia is a five-story community with studios and one-, two- and three-bedroom residences along with a 24-hour fitness center, pool with grill and bar areas, a dog park and spa, coworking spaces that include conference rooms, courtyards and a game lounge with a race car simulator.

September 8, 2026

California Loans Office Western

Waterfall Asset Management, Delaware Life Provide $64.7M Refinancing for Office Property in Torrance, California

by Amy Works September 8, 2026

TORRANCE, CALIF. — Waterfall Asset Management, an alternative investment manager, and Delaware Life have provided a $64.7 million loan facility for the refinancing of The Torrance, a Class A office property in Torrance. The financing will support the in-place leasing strategy for the building. Situated on 7.3 acres, the eight-story property features 301,000 square feet of office space. The asset is currently leased to a diverse roster of tenants, including All Nippon Airways, Salon Republic, Barrister Executive Suites, Compass California, Unio Health Partners and Morgan Stanley Smith Barney. Originally constructed in 1988, The Torrance features significant investment and modernization efforts, including recent upgrades to the building’s elevator and HVAC systems, common areas, roof, amenities and exterior. The property also features a two-story, glass-entry lobby, ground-floor café, fitness center and more than 1,200 parking spaces. Jordan Roeschlaub, Nick Scribani and Chris Lozinak of Newmark assisted in securing the financing for The Torrance.

September 8, 2026

Acquisitions California Office

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

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