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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
