California

Waterford Property Co. Breaks Ground on Affordable Multifamily Community 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 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 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, tot lot, barbecue and outdoor game 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 non-profit 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 California Bank & Trust, …

August 31, 2026

Acquisitions California Industrial Western

Newmark Arranges $27.2M Sale of R&D Facility in El Segundo, California

by Amy Works August 31, 2026

EL SEGUNDO, CALIF. — Newmark has brokered the sale of a mission-critical research-and-development (R&D) office facility in El Segundo. Hackman Capital Partners sold the asset to Majestic Realty for $27.2 million, or $480 per square foot. Situated on 2.1 acres at 401 Coral Circle, the 56,815-square-foot facility features 24-foot clear heights, six dock-high doors, 3,000 amps of power, a car wash and 110 parking stalls. Originally built in 1967 and renovated in 2020, the property serves as both a customer-facing service center and a highly secure R&D facility, supporting Rivian’s consumer and commercial vehicle lines, including the R1S, R1T and its Amazon-partnered Rivian Electric Delivery Van (EDV). Founded in 2009 and headquartered in Irvine, Calif., Rivian fully leases the property on a triple-net basis. The company is a publicly traded electric vehicle manufacturer with a market capitalization of approximately $21.5 billion. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Micheal Moll, Ryan Plummer, Andrew Briner and Aaron Banks of Newmark represented the seller in the deal. Blake Thompson and Travis Bailey of Newmark provided support on the debt strategy and financing consideration throughout the transaction process.

August 31, 2026

California Loans Multifamily Student Housing Western

Priority Capital Advisory Arranges $13.6M Bridge Loan to Refinance Residential Property in Los Angeles

by Amy Works August 31, 2026

LOS ANGELES — Priority Capital Advisory has arranged a $13.6 million bridge loan for the refinancing of a student housing and multifamily property located at 8833 Reading Ave. in Los Angeles’ Westchester neighborhood. The ownership is a joint venture of Six Peak Capital and Grandview Partners. Completed in April 2025, the five-story property features 33 one-, two-, three-, four- five- and six-bedroom apartments and a 25-space subterranean parking level. Units features stainless steel appliances, quartz countertops, vinyl plank and tile flooring, walk-in closets and washers/dryers. Community amenities include a rooftop deck with barbecues and a clubhouse with a kitchen, as well as automated package lockers. The property is currently 88 percent leased, with approximately 50 percent of the units occupied by students. Additionally, three units are covenanted for very low-income households and two units covenanted for extremely low-income households.

August 31, 2026

Acquisitions California Industrial Western

CBRE Brokers $87.5M Sale of Nine-Building Industrial Portfolio in Benicia, California

by Amy Works August 28, 2026

BENICIA, CALIF. — CBRE has brokered the $87.5 million sale of a nine-building industrial portfolio in Benecia, part of the San Francisco Bay Area. NorthPoint Development purchased the buildings, which are located within Benicia Industrial Park, and include Benicia Commerce Center I and II at 6200-6850 Goodyear Road and Benicia Industrial Way at 5301-5341 Industrial Way. At the time of sale, the portfolio was fully leased to 19 tenants that have occupied space at the park for an average of nearly 15 years. The tenant roster is subject to below-market rents, staggered lease expirations and a weighted average lease term of roughly 3.4 years, according to the deal term. Rebecca Perlmutter and Brian Russel of CBRE National Partners West, along with Tony Binswanger, Bo Harkins and Brooks Pedder of CBRE’s Walnut Creek, Calif., office represented the seller in the deal. Steve Roth, Val Achtemeier and David Milestone of CBRE Capital Markets’ Debt & Structured Finance arranged the buyer’s financing.

August 28, 2026

California Development Multifamily Western

Rockpoint, Holland Partner Group to Develop 311-Unit Multifamily Project in San Jose, California

by Amy Works August 28, 2026

SAN JOSE, CALIF. — Boston-based Rockpoint and Hollard Partner Group have entered into a joint venture to develop Stevens Creek, a multifamily property that will be located at 2896 Stevens Creek Blvd. in West San Jose. Financial terms of the transaction were not disclosed. Scheduled for completion in 2029, Stevens Creek will feature 311 apartments and 6,000 square feet of ground-floor retail space. Units will offer stainless steel appliances, solid-surface countertops, in-unit washers and dryers and luxury vinyl tile flooring. Community amenities will include a resort-style pool, landscaped courtyard, resident lounge, fitness center and a coworking lounge.

August 28, 2026

Acquisitions California Multifamily Western

CBRE Arranges $21M Sale of Tournament Patio Apartments in Torrance, California

by Amy Works August 27, 2026

TORRANCE, CALIF. — CBRE has arranged the $21 million sale of Tournament Patio Apartments in the Southern California city of Torrance. JS Bower Foundation sold the property to Good Capital Group. Situated on 1.7 acres at 4111 W. 239th St., Tournament Patio Apartments features 60 apartments with an average units size of 1,023 square feet. The two-story, garden-style property was built in 1963. Derrek Ostrzyzek, Anna Kampling, Rachel Parsons, Kenji Thomas and Mike Murphy of CBRE represented the seller in the deal.

August 27, 2026

California Retail Western

Progressive Real Estate Brokers $6.5M Sale of Multi-Tenant Retail Building in Temecula, California

by Amy Works August 27, 2026

TEMECULA, CALIF. — Progressive Real Estate Partners has brokered the $6.5 million sale of a multi-tenant retail building located within Vail Ranch Plaza in the Southern California city of Temecula. Greg Bedell of Progressive represented the buyer, a Los Angeles-based private investor, in the transaction. Brian Bielatowicz, Ryan Bennett and Drew Olson of Lee & Associates represented the seller, another private investor. The 8,781-square-foot retail building was fully leased at the time of sale to tenants including Better Buzz Coffee, Orangetheory Fitness, Krak Boba and D’Or Nail Lounge. Vail Ranch Plaza is an open-air shopping center that is anchored by Sprouts Farmers Market, PetSmart and EOS Fitness.

August 27, 2026

Affordable Housing California Loans Multifamily Seniors Housing Western

Merchants Capital Provides $193M in Financing for Two Affordable Housing Projects in Rocklin, California

by Amy Works August 26, 2026

ROCKLIN, CALIF. — Merchants Capital has provided roughly $193 million in financing for The Frances and The Steven, a pair of affordable housing developments in Rocklin, about 20 miles north of Sacramento. Developed by USA Properties Fund, the communities will provide 504 new affordable apartments for seniors and families across a range of income levels. Financing for The Frances includes a $72.1 million private placement bond loan through AllianceBernstein and $76.1 million in construction period debt to bridge incoming tax credit equity and permanent bond financing provided by Merchants Bank. Financing for The Steven includes a $30.6 million private placement tax-exempt bond loan through AllianceBernstein and $15 million in construction period debt provided by Merchants Bank. The Frances will feature 324 one-, two- and three-bedroom apartments designated to residents earning 30 to 70 percent of the area median income (AMI) with fully equipped kitchens, central air conditioning and walk-in closets. Community amenities will include a pool, playground, fitness center, courtyard/picnic area, community room, dog park, computer room, service coordinator and an onsite manager. The Steven will add 180 one- and two-bedroom apartments for seniors aged 55 and up that earn between 30 and 70 percent of AMI. Nonprofit organization LifeSTEPS will …

August 26, 2026

Serrano-Industrial-Park-Jurupa-Valley-CA

Acquisitions California Industrial Western

MDH Partners Buys Serrano Industrial Park in California’s Inland Empire West

by Amy Works August 26, 2026

JURUPA VALLEY, CALIF. — Atlanta-based investment firm MDH Partners has purchased Serrano Industrial Park, a Class A manufacturing campus in the Inland Empire city of Jurupa Valley. The new acquisition brings MDH’s California footprint to more than 1.5 million square feet. Newmark represented the undisclosed seller in the transaction, while James Hwang of MDH sourced the deal for the firm. Terms of the transaction were not released. Built in 2019, the 151,885-square-foot Serrano Industrial Park features two buildings offering 30- to 32-foot clear heights, ESFR sprinklers and “ample” dock-high loading. The larger building is equipped with 12,000 amps of power. At the time of sale, the property was fully leased to a single tenant. Additionally, the 8.3-acre site sits within a mile of State Route 60 and about five miles from I-10.

August 26, 2026

California Development Industrial Western

Hanover Co., Crow Holdings Capital Underway on 200,000 SF Industrial Project in Simi Valley, California

by Amy Works August 26, 2026

SIMI VALLEY, CALIF. — Hanover Co., in partnership with Crow Holdings Capital, is underway on construction of an industrial project on a 13-acre site at 903 Quimisa Drive in Simi Valley, located in southeastern California. The 200,000-square-foot building will feature 36-foot clear heights, an 8.5-inch slab, skylights, “ample” employee parking and proximity to California State Route 118. The project team includes Rasmussen as architect and M3 Civil as civil engineer. Deal partners include Chad Solomon of JLL and David Young of NAI Capital. Construction commenced in July with completion slated for summer 2027.

August 26, 2026

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