California

Step Up Housing Acquires Hancock Terrace Apartments in Santa Maria, California for $75M

by Amy Works February 19, 2026

SANTA MARIA, CALIF. — Step Up Housing has acquired Hancock Terrace, a multifamily property located at 534 E. Boone St. in Santa Maria. Sack Capital Partners and Align Finance Partners closed on structured financing for the $75 million purchase. Sack will also provide asset and property management for the community. In an effort to expand housing options in the area, Step Up and Sack will immediately begin conversion of 75 percent of the units to affordable housing. Built in 2016, Hancock Terrace features 272 studio, one-, two- and three-bedroom floor plans, a swimming pool, 24-hour fitness center, two spas, a yoga studio, large clubhouse with TV lounge and demonstration kitchen, a dog park, children’s play area, ample onsite parking and elevator service. Institutional Property Advisors represented the undisclosed seller in the deal.

February 19, 2026

California Development Industrial Loans Western

JLL Secures $33.8M Construction Loan for Industrial Development in Hesperia, California

by Amy Works February 19, 2026

HESPERIA, CALIF. — JLL Capital Markets has arranged $33.8 million in first lien construction financing for the development of 10400 Amargosa Road, a to-be-built Class A industrial facility in Hesperia. Matt Stewart, Kellan Liem, Allie Black and Cameron Sepahi of JLL secured the five-year (inclusive of extension options), fixed-rate loan through TDA Investment Group for the borrower. Situated on a 21.5-acre site, the 428,185-square-foot, single-tenant building will feature a clear height of 36 feet, rear-load capabilities, an ESFR fire sprinkler system and 100 percent secure truck court with space for 59 trailer stalls and 216 auto parking spaces, including electric vehicle charging capabilities. The Covington Group will develop the project on behalf of owner/user Pixior Group. Construction is slated for completion in 11 months.

February 19, 2026

Acquisitions California Loans Multifamily Western

Newmark Arranges $31.6M Sale, Financing of San Carlos Village Apartments in San Diego

by Amy Works February 19, 2026

SAN DIEGO — Newmark has brokered the sale of San Carlos Village, a multifamily community located at 7707-7787 Tommy St. in San Diego. Pathfinder Partners acquired the asset for $31.6 million from ERFSCV LLC (heirs of the original developer) in an off-market transaction. Originally developed in 1980, San Carlos Village offers 160 apartments spread across 7.3 acres at the base of Cowles Mountain. The new ownership plans to rename the asset Cowles Landing. Erik Anderson of Newmark represented the buyer, while Greg Gorsuch of Chamberlain Property Management represented the seller in the deal. Robert Younkin and Garrett Meyers of Newmark arranged an $18.6 million Fannie Mae loan to facilitate the acquisition.

February 19, 2026

Acquisitions Affordable Housing California Multifamily Western

Pro Residential Services Buys 162-Unit Affordable Housing Community in Mojave, California

by Amy Works February 19, 2026

MOJAVE, CALIF. — Pro Residential Services has acquired Park Palace Apartments, an affordable housing property in Mojave, from Park Plaza One Apts LP for $8.9 million. Cray Carlson of CBRE represented both parties in the transaction. Located at 16193 and 16197 H St., Park Palace Apartments offers 162 apartments. Constructed in 2007 and 2011, the property operates as a low-income housing tax credit community. The asset is subject to long-time affordability requirements under its regulatory agreement with approximately 55 years of restrictions remaining.

February 19, 2026

Acquisitions California Western

Fairfax Financial Agrees to Acquire Kennedy Wilson for $1.6B, Take Company Private

by Kristin Harlow February 18, 2026

BEVERLY HILLS, CALIF. — Kennedy-Wilson Holdings Inc. has entered into a definitive agreement to be acquired by an entity affiliated with a consortium led by CEO William McMorrow and Fairfax Financial Holdings Limited. The all-cash transaction is valued at $1.6 billion. The per share purchase price of $10.90 represents a 46 percent premium to Kennedy Wilson’s share price as of Nov. 4, 2025, the last trading day prior to a publicly disclosed proposal received by the company from the consortium. Fairfax is expected to have a majority of the economic interest in Kennedy Wilson immediately following the closing of the transaction, which is expected to occur in the second quarter of 2026 subject to the satisfaction of a number of customary closing conditions. Upon completion, Kennedy Wilson’s common shares will cease trading on the New York Stock Exchange and will be deregistered under applicable rules of the Securities and Exchange Commission. Beverly Hills-based Kennedy Wilson is a real estate investment company with $31 billion of assets under management in markets across the United States, United Kingdom and Ireland. The company went public in 2009.

February 18, 2026

California Development Industrial Western

Affinius Capital, McDonald Property Complete Phase I of The HUB @ Ontario International Airport Logistics Park in California

by Amy Works February 18, 2026

ONTARIO, CALIF. — Affinius Capital, McDonald Property Group and PREMIER Design + Build Group have completed Phase I of The HUB @ Ontario International Airport (ONT), a master-planned logistics park in Ontario. The development is owned by CanAm Ontario, a venture between an investment affiliate of Affinius Capital and McDonald Property Group. Located adjacent to the Ontario International Airport, The HUB @ ONT spans 200 acres under a 55-year ground lease agreement with the Ontario International Airport Authority. Upon full build-out, the campus will total more than 4.2 million square feet of industrial space delivered over a 28-month schedule. Phase I includes four buildings offering more than 2 million square feet of industrial space. Phase II, slated for delivery this spring, will add five buildings totaling 2.2 million square feet on 96 acres of land to the project.

February 18, 2026

Acquisitions Affordable Housing California Multifamily Seniors Housing Western

Arka Properties, Black Equities Sell Affordable Seniors Housing Community in San Diego for $47M

by Amy Works February 17, 2026

SAN DIEGO — Arka Properties and Black Equities have completed the disposition of Lakeshore Villa Apartments, an affordable seniors housing property in San Diego’s San Carlos nieghborhood, to an undisclosed buyer for $47 million. Otto Ozen, Shawn Bolour and Jordan Pakzad of The Mogharebi Group represented the seller in the deal. Located at 6888 Golfcrest Drive, Lakeshore Villa features two three-story buildings offering 126 one-bedroom/one-bath floor plans with an average unit size of 520 square feet. Lakeshore Villa Apartments benefits from a 100 percent Senior HUD HAP Contract, ensuring stable income and long-term occupancy. The buyer plans to invest capital into the property and has committed to extending the affordability of the asset.

February 17, 2026

California Loans Retail Western

HP Investors Receives $19M in Financing for Gaslamp Square Retail Property in Downtown San Diego

by Amy Works February 17, 2026

SAN DIEGO — HP Investors has received $19 million in recapitalization financing for Gaslamp Square, a retail property at 405 5th Ave. in San Diego. Scott Peterson, Bill Chiles, Brian Cruz and Colby Matzke of CBRE arranged a floating-rate loan on behalf of the borrower. The financing features a multi-year interest-only period and a competitive structure with a maturity in 2029. Gaslamp Square features 54,856 square feet spanning a full block at 5th Avenue and J Street in downtown San Diego’s Gaslamp Quarter. The asset consists of retail condominiums and a 243-stall subterranean parking garage.

February 17, 2026

Acquisitions California Industrial Western

CBRE Arranges Sale of 46,220 SF Industrial Building in Indio, California

by Amy Works February 17, 2026

INDIO, CALIF. — CBRE has brokered the sale of a 46,220-square-foot industrial building located at 82309 Market St. in Indio. A Los Angeles-based 1031 exchange buyer acquired the asset from an undisclosed seller for $7.2 million. Sammy Cemo, Austin Reuland, Anthony DeLorenzo and Wes Jones of CBRE represented the seller in the deal. Situated on 2.1 acres, the building includes 38,120 square feet of warehouse space and 8,100 square feet of office space. The warehouse portion of the property features 20-foot to 24-foot clear heights, four grade-level doors, two dock-high doors and a fully fenced, gated concrete tuck court. The current tenant recently renewed its lease at the property.

February 17, 2026

Acquisitions California Multifamily Western

CBRE Arranges $26.5M Sale of Multifamily Community in Santee, California

by Amy Works February 16, 2026

SANTEE, CALIF. — CBRE has brokered the sale of La Roca Plaza, an apartment property in Santee. Casa La Roca Apartments LLC acquired the asset from La Roca Plaza LP for $26.5 million. Situated on 4.6 acres, La Roca Plaza offers 100 one-, two- and three-bedroom floor plans. Community amenities include a pool, playground, central courtyard, onsite laundry, high-speed internet access and 154 onsite street parking spaces. Conor Brennan and Rachel Parsons of CBRE represented both the seller and buyer in the deal.

February 16, 2026

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