California

Breakthrough Properties, Tishman Speyer Provide $90M Loan for 538,000 SF Life Sciences Campus in San Diego

by Amy Works July 24, 2026

SAN DIEGO — Breakthrough Properties and Tishman Speyer have provided a $90 million mezzanine bridge loan for Aperture Del Mar, a Class A life sciences campus in San Diego. The borrower, Gemdale USA, will use the proceeds to refinance an existing loan. Totaling 538,000 square feet, the four-building lab and office campus is fully occupied by Neurocrine Biosciences, a biopharmaceutical company. The campus features a standalone fitness center with a yoga studio and juice bar, outdoor event lawn, private patios, courtyard and a 1,500-stall parking garage. Aperture Del Mar serves as Neurocrine’s mission-critical global headquarters as part of a lease that funds through 2036. Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, develops and owns life sciences real estate in San Diego and other markets around the world. Tishman Speyer directly participated in the financing through its recently established debt platform.

July 24, 2026

Affordable Housing California Loans Multifamily Western

Walker & Dunlop Arranges $28.9M Loan for Refinancing of Affordable Housing Complex in Los Angeles

by Amy Works July 24, 2026

LOS ANGELES — Walker & Dunlop has arranged a $28.9 million loan for the refinancing of Billy G. Mills Manor, an affordable housing complex next to the University of Southern California in Los Angeles. Jeff Kearns and Laura Woltanski of Walker & Dunlop secured the refinancing through HUD/FHA’s Section 223(f) loan program on behalf of Watt Capital Developers. Billy G. Mills Manor features 102 affordable housing units supported by a Project-Base Section 8 Housing Assistance Payment (HAP) contract covering 100 percent of the residences. The refinancing will also fund approximately $30,000 per unit for planned renovations, including roof replacement, new windows and sliding doors throughout the property. The transaction closed simultaneously with a 20-year renewal of the property’s Project-Base Section 8 contract, preserving long-term affordability.

July 24, 2026

Acquisitions California Multifamily Seniors Housing Western

TCC Properties Sells 101-Unit Seniors Housing Property in Willits, California

by Amy Works July 24, 2026

WILLITS, CALIF. — TCC Properties has sold Redwood Meadows, a 101-unit seniors housing property in the Northern California city of Willits, to Echelon Communities for $10.8 million, or $106,931 per unit. Isaak Heitzeberg of Marcus & Millichap represented the seller in the transaction and procured the buyer in conjunction with Marcus & Millichap’s Andres Guerra. Built in 1989 on 7.1 acres, Redwood Meadows features four studio units, 58 one-bedroom residences and 39 two-bedroom apartments. Community amenities include a clubhouse, redwood garden, two laundry rooms, rentable storage units and a dog park. Located at 1475 Baechtel Road, the site also includes land with initial city approval for up to 15 additional units.

July 24, 2026

Acquisitions California Retail Western

CBRE Arranges $30M Sale of Six-Building Retail Portfolio in Long Beach, California

by Amy Works July 23, 2026

LONG BEACH, CALIF. — CBRE has arranged the $30 million sale of Mosaic, a six-building retail portfolio located in downtown Long Beach. An entity doing business as Mosaic Promenade Holdings LLC acquired the property from a partnership between Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group. John Read and Erin Smith of CBRE represented the seller in the deal. Totaling 148,405 square feet, the portfolio includes 50 East 4th Street; 145 East 4th Street; 300 and 325 The Promenade North; and 480 and 590 Pine Avenue. At the time of sale, the asset was 78 percent leased. Current tenants include include Ross Dress for Less, Studio One Eleven/RDC, Ammatoli, Pacific Dental, Panda Express, Wingstop, GNC, GameStop, U.S. Army, U.S. Armed Forces and City of Long Beach, among others. The properties were constructed between 2002 and 2004.

July 23, 2026

Acquisitions California Multifamily Western

JBT Property Management Sells 248-Unit Maroa Park Apartments in Fresno, California

by Amy Works July 22, 2026

FRESNO, CALIF. — JBT Property Management has sold Maroa Park Apartments, a 248-unit multifamily property in Fresno, to a private buyer for $44 million. Located at 475-585 W. Sierra Ave., Maroa Park features one- and two-bedroom units with an average size of 878 square feet. Otto Ozen, Brian Nakamura and Nazli Santana of The Mogharebi Group (TMG) represented the seller in the deal.

July 22, 2026

Acquisitions California Loans Multifamily Western

Berkadia Arranges $35.5M Sale of Two Multifamily Properties in Castro Valley, California

by Amy Works July 21, 2026

CASTRO VALLEY, CALIF. — Berkadia has arranged the $35.5 million sale of The Cedars and Creekside Terrace, two neighboring, value-add multifamily properties located in the Northern California city of Castro Valley. Felson Cos., the original developer, sold the assets to San Francisco-based Prime Residential for $21.4 million and $14.1 million, respectively. Jason Parr, Scott MacDonald and John Hansen of Berkadia San Francisco represented the seller in the deal, while Clay Akiwenzie and Hank Workman of Berkadia San Francisco provided financing for the buyer. The financing consists of a seven-year, fixed-rate Freddie Mac loan with full-term interest-only payments. Located at 22240-22302 Center St., The Cedars features 83 one-, two- and three-bedroom apartments, two pools, an outdoor courtyard, fitness center and covered parking. Creekside Terrace, located at 22180 Center St., offers 52 one-, two- and three-bedroom floor plans, as well as a pool, dry sauna, outdoor courtyard, a fitness center and covered parking.

July 21, 2026

Acquisitions California Multifamily Seniors Housing Western

Marcus & Millichap Brokers Sale of Seven-Building Memory Care Campus in San Diego County

by Amy Works July 21, 2026

SAN DIEGO COUNTY, CALIF. — Marcus & Millichap has brokered the sale of a seven-building memory care campus in San Diego County. Developed in 2002, the property contains more than 55 units licensed for over 85 residents. The community was operating with negative net operating income (NOI) at the time of sale. Nick Stahler, Justin Knapp, Michael Mooney and Hap Knowles of Marcus & Millichap’s Knapp-Stahler Group arranged the transaction. An undisclosed, all-cash buyer acquired the community from a publicly traded REIT for roughly $170,000 per unit.

July 21, 2026

Affordable Housing California Development Multifamily Seniors Housing Western

Wellpointe to Develop $2B Affordable Seniors Housing Campus in Los Angeles

by Amy Works July 20, 2026

LOS ANGELES — Wellpointe has announced plans for the development of a new affordable seniors housing campus within the Warner Center master-planned district in Los Angeles. Wellpointe estimates a total investment of $2 billion in the project, which will be developed in four phases. A property-holding affiliate of Wellpointe acquired the 4.7-acre development site late last year from Parkview Financial. Upon completion, Viva L.A. Warner Center will comprise four high-rise towers ranging from 34 to 42 stories. The 2.2 million-square-foot development will total 3,192 units and include 61,450 square feet of non-residential space. “Viva represents our conviction that affordable housing, paired with assisted living services as needed, can be delivered at the scale and density that California’s aging population in core urban centers actually needs,” says George Kutnerian, co-founder and CEO of Wellpointe. “Despite the overwhelming need for a new model, senior living continues to be built out rather than up — even in dense urban areas — and quality is treated as incompatible with affordability. Viva rejects that premise and builds upon Wellpointe’s mission of democratizing access to quality housing and care for older adults — now through transit-oriented, high-density, community-serving urban social infrastructure.” Gensler is designing the project. The firm …

July 20, 2026

Acquisitions California Multifamily Western

Prime Residential Purchases Palm Court Apartments in Los Angeles for $51.2M

by Amy Works July 17, 2026

LOS ANGELES — Prime Residential has purchased Palm Court Apartments, a 132-unit multifamily property located in the Miracle Mile neighborhood of Los Angeles, for $51.2 million, or $388,258 per unit. Jeff Louks, Gayle Factor and Elliot Sabag of Marcus & Millichap represented the the seller, a private investor, in the transaction. Matt Ziegler of Marcus & Millichap, along with Louks, Factor and Sabag, procured the buyer. Located at 740 S. Burnside Ave., Palm Court Apartments features 48 one-bedroom/one-bath units, 72 two-bedroom/two-bath units and 12 three-bedroom/two-bath units. Apartments include custom cabinetry, quartz countertops and stainless steel appliances. Community amenities include controlled-access gated parking, heated pool and spa, fitness center, saunas, rooftop sundeck and laundry facilities on each floor. The property was built in 1988.

July 17, 2026

Acquisitions California Industrial Western

Avison Young Brokers $8.8M Sale of Industrial Property in San Diego’s Otay Mesa District

by Amy Works July 17, 2026

SAN DIEGO — Avison Young has brokered the $8.8 million sale of an industrial property located at 7577 Airway Road in the Otay Mesa submarket of San Diego. An undisclosed buyer acquired the asset from a Miami-based private investor. Situated on 4.2 acres, the 31,488-square-foot industrial property features seven dock-high loading doors and three grade-level doors. Tanner Johnson and Jamie Endres-Keller of Avison Young, along with Barry Katz and Blake Katz of WGS Realty, represented the seller in the deal., while Price Real Estate Investments represented the buyer.

July 17, 2026

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