California

Avanath, BRIDGE Form Affordable Housing Property Management Company

by Amy Works October 13, 2025

SAN FRANCISCO AND IRVINE, CALIF. — BRIDGE Housing and Avanath Communities have jointly formed an affordable and workforce housing property management company called Brighthaven Communities. Initially, Brighthaven will provide property management services to the two organizations’ combined portfolio of properties, which totals approximately 30,000 affordable homes across 15 states. The new company plans to extend its services beyond the partners’ own properties to include other nonprofit and for-profit owners of affordable and workforce housing communities. Brighthaven will be governed by a six-member board with equal representation from both organizations. Avanath is an Irvine-based private investment firm, and BRIDGE is a nonprofit affordable housing owner and developer headquartered in San Francisco.

October 13, 2025

California Industrial Loans Western

PSRS Arranges $5M Refinancing for Industrial Property in Alhambra, California

by Amy Works October 10, 2025

ALHAMBRA, CALIF. — PSRS has arranged $5 million in refinancing for an industrial property in Alhambra. Built in 1980, the 106,266-square-foot bulk warehouse building features a clear height of 25 feet, a showroom area and small office build-out. Additionally, the asset includes 198 surface parking spaces. Michael Tanner and David Sarnoff of PSRS secured the nonrecourse loan, which was structured with an interest-only term, through one of PSRS’ correspondent life insurance company lenders.

October 10, 2025

Acquisitions California Office Western

Joint Venture Buys Two Office Properties in San Francisco Totaling 494,552 SF

by Amy Works October 9, 2025

SAN FRANCISCO — A joint venture between Lincoln Property Co. and New York Life Real Estate Investors (NYLREI) has acquired two Class A office buildings totaling 494,552 square feet in San Francisco. The properties, 353 Sacramento Street and 600 Townsend Street, are located in the heart of the Financial District and Design District submarkets, respectively. Located between Jackson Square and the North Financial District, 353 Sacramento is a 23-story, 284,751-square-foot office tower. The building has undergone extensive renovations since 2016, including a new lobby, upgraded elevator systems and modernized elevator lobbies and restroom renovations. Building amenities include lockers, showers and a bike room. Lincoln and NYLREI will build out a full-floor amenity center with two outdoor terraces, a fitness center, conferencing facilities and a tenant lounge in addition to move-in ready tenant speculative suites. Current tenants include Wells Fargo, Ramp, Merge and Even-up Law. Situated in the Showplace Square submarket, the five-story 600 Townsend offers 209,801 square feet of creative office space. The property features high-end creative improvements, a significant solar project overhaul, a modernized lobby and an outdoor patio/lounge. The building is nearly fully leased by SS&C Advent and PagerDuty. Onsite amenities include a lobby, outdoor common area and secure …

October 9, 2025

Acquisitions California Office Western

Cushman & Wakefield Brokers $16.2M Sale of 1840 Gateway Office Building in San Mateo, California

by Amy Works October 8, 2025

SAN MATEO, CALIF. — Cushman & Wakefield has arranged the sale of 1840 Gateway, a Class A office property in San Mateo. Monday Properties sold the asset to SC Properties for $16.2 million. Gary Boitano, Ryan Venezia, Steve Herman, Jack Depuy, Seth Siegel, Scott Prosser and Courtney Trunnell of Cushman & Wakefield represented the seller and the buyer in partnership with Clarke Funkhouser of JLL. The four-story property offers 70,098 square feet of office space, as well as a recently renovated gym facility with showers. Approximately 75 percent of the building’s square footage is finished as high-end creative space, including renovated restrooms and polished concrete floors. The property also offers a multi-story glass-enclosed lobby and flexible zoning that allows for potential redevelopment to residential use.

October 8, 2025

Acquisitions California Retail Western

Dill Dinkers Signs 10-Unit Pickleball Franchise Agreement in Fresno, California

by Amy Works October 8, 2025

FRENSO, CALIF. — Columbia, Md.-based pickleball concept Dill Dinkers has signed a franchise agreement to open 10 new venues in the Central Valley region of California. Entrepreneurs Bill Revilla and Georgia Revilla will own and operate the locations, which will offer several indoor pickleball courts separated by fences, as well as event space, a ball machine and a reservation system for guests. Founded in 2022, Dill Dinkers currently has nine operating locations in the United States and more than 380 locations under development across Texas, Washington, D.C., North Carolina, Connecticut, South Carolina, Arizona, Maryland, Delaware, Virginia, Georgia, Florida, New York, New Jersey, Pennsylvania and California.

October 8, 2025

Acquisitions California Restaurant Retail Western

Hanley Investment Group Arranges $7.2M Sale of Shake Shack-Occupied Retail Property in Oxnard, California

by Amy Works October 8, 2025

OXNARD, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant restaurant property at 711 Town Center Drive in Oxnard. A Texas-based developer sold the asset to a Northern California-based private 1031 exchange investor for $7.2 million. Sean Cox, Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller, while Judson Kauffman of New York-based Surmount represented the buyer in the deal. Shake Shack occupies the 3,286-square-foot property, which was built in 2025, under a new 15-year corporate-guaranteed absolute triple-net ground lease. The building features Shake Shack’s latest prototype with a double-lane drive-thru. Shake Shack operates more than 570 locations across 34 states and over 200 international markets as of third-quarter 2025. The company opened 43 company-operated stores in fiscal-year 2024, marking its highest annual expansion to date.

October 8, 2025

California Development Multifamily Student Housing Western

Gilbane Underway on 484-Bed Student Housing Project Near University of California, Berkeley

by Amy Works October 7, 2025

BERKELEY, CALIF. — Construction is underway on Pique, a 484-bed student housing project by Gilbane Development located at 2587 Telegraph Ave. near the University of California, Berkeley campus. The developer recently opened a leasing office for the community at 2430 Bancroft Way. The project is scheduled for completion in summer 2026. Pique will offer units in four-, five- and six-bedroom configurations. Shared amenities will include an indoor-outdoor yoga and fitness center with an outdoor sauna; outdoor study spaces; two rooftop decks separated by an indoor-outdoor club room; community terrace space; a ground floor coworking lounge; smart food lockers; and private study rooms on each floor. The community will also feature 2,900 square feet of ground-floor retail space.

October 7, 2025

Affordable Housing California Development Loans Multifamily Western

KeyBank Provides $25.9M Loan for Affordable Housing Development in Compton, California

by Amy Works October 7, 2025

COMPTON, CALIF. — KeyBank Community Development Lending and Investment has provided a $25.9 million loan to finance construction of an affordable housing development at 1434 W. Compton Blvd. in the metro Los Angeles city of Compton. The Coalition for Responsible Community Development (CRCD) has partnered with LandSpire Group to develop the 75-unit community. The project will be a three-story development consisting of studios and one- and two-bedroom units, all of which will be rent restricted at or below 50 percent of the area median income. Additional low-income housing tax credit equity and Freddie Mac permanent financing were secured from Walker & Dunlop. The total project cost was not disclosed, but a California Tax Credit Allocation Committee report from October 2024 lists the valuation at $56.8 million. Amenities will include laundry facilities, a community room, playground, landscaped courtyard, amphitheater-style seating area, sports court, onsite parking and a resident manager. Social services will be provided by CRCD and other community partners. Completion is slated for May 2027. CRCD and LandSpire Group have forged a partnership to create more than 1,000 permanent supportive and affordable housing units across the greater Los Angeles area over the next decade.

October 7, 2025

Acquisitions California Retail Western

Kidder Mathews Negotiates $32.7M Sale of Holmby Hall Retail Building in Los Angeles

by Amy Works October 6, 2025

LOS ANGELES — Kidder Mathews has arranged the $32.7 million sale of Holmby Hall, a landmark retail property in Los Angeles’ Westwood Village submarket. Tanel Harunzade and Darrell Levonian of Kidder Mathews, along with former Kidder Mathews agent David Saghian, handled the transaction. Details of the transaction were not released. Located at 921 Westwood Blvd., Holmby Hall offers 50,790 square feet of retail space. Built in 1929 in Spanish Colonial Revival style, the property features a 110-foot clock tower designed by Gordon Kaufmann and John Parkinson. The building is a designated Historic-Cultural Monument.

October 6, 2025

Acquisitions California Industrial Western

Stos Partners Sells 10,000 SF Industrial Property in San Marcos, California

by Amy Works October 6, 2025

SAN MARCOS, CALIF. — Stos Partners has completed the disposition of 145 N. Pacific Street in San Marcos to a private buyer, finalizing the disposition of its Benchmark Portfolio. The two-property portfolio sold for a combined $10.9 million. The Benchmark Portfolio comprised two freestanding industrial warehouses totaling 28,000 square feet in the submarkets of San Marcos and Poway, Calif. Both properties feature low site coverage and excess land. Stos Partners acquired the portfolio in 2020 in a joint venture with RanchHarbor for $6.1 million through an off-market transaction from an owner-user, which completed a five-year sale-leaseback at closing. Stos Partners implemented targeted capital improvements, repositioning the assets. The company sold the 18,000-square-foot property at 12575 Stowe Drive in Poway in July 2025 for $6.5 million. Tim Clepper of San Diego Commercial represented Stos Partners in the Poway deal. Matt Pourcho, Anthony DeLorenzo and Nick Williams of CBRE represented Stos Partners, while Josh West of Voit Real Estate Services represented the buyer in the San Marcos transaction.

October 6, 2025

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