California

San Diego Community College District, Michaels Break Ground on 787-Bed Affordable Student Housing Community

by Amy Works November 12, 2025

SAN DIEGO — A partnership between the San Diego Community College District (SDCCD) and The Michaels Organization has broken ground on a 787-bed student housing development at 1601 B St. in downtown San Diego. The seven-story community, designed by TCA Architects, will offer 283 affordably priced units. Shared amenities are set to include study lounges, tutoring spaces, a mental health and wellness center, outdoor courtyards, shared kitchens, a basic needs food pantry and a rooftop lounge. The community will be the first development by the SDCCD and is scheduled for completion in fall 2028.

November 12, 2025

Acquisitions Arizona California Retail Western

Brixton Capital Forms JV with TriPost to Recapitalize Two Retail Centers in Arizona, California

by Amy Works November 12, 2025

BEAUMONT, CALIF. AND PHOENIX — Brixton Capital has recapitalized two of its grocery-anchored retail properties in a joint venture with TriPost Capital Partners, which acquired a stake in the two-property portfolio. This transaction marks the second investment out of TriPost’s Asset Solutions strategy. The portfolio includes Marketplace Beaumont, a 177,000-square-foot shopping center in Beaumont, and Palmilla Center, a 104,000-square-foot property in Phoenix. Marketplace Beaumont is 99 percent occupied by Aldi, Ross, HomeGoods and Best Buy, and Palmilla Center is 99 percent occupied by OfficeMax, PetSmart and Dollar Tree.

November 12, 2025

Acquisitions California Multifamily Western

Ballast Acquires Grosvenor Court Apartments in San Francisco for $31.9M

by Amy Works November 11, 2025

SAN FRANCISCO — Ballast has purchased Grosvenor Court Apartments, a multifamily community located at 2055 Sacramento St. in San Francisco, from an undisclosed seller for $31.9 million, or $370,930 per unit. Situated across from Lafayette Park in Pacific Heights, Grosvenor Court offers 86 apartments and recent upgrades, including electrical modernization, exterior painting and a new fire alarm system.

November 11, 2025

Acquisitions California Loans Multifamily Seniors Housing Western

Berkadia Arranges Sale, Financing of Two Seniors Housing Communities in Southern California

by Amy Works November 10, 2025

SAN DIEGO AND LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California. Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing through Berkadia’s proprietary lending group on behalf of the undisclosed buyer. The bridge-to-HUD loans feature interest-only payments for 24 months.

November 10, 2025

Acquisitions California Retail Western

CBRE Brokers $10.2M Ground Lease Sale of La Plaza La Jolla in San Diego

by Amy Works November 10, 2025

SAN DIEGO — CBRE has arranged the sale of La Plaza La Jolla, a multi-tenant retail ground lease located at 7863-7877 Girard Ave. within La Jolla Village in San Diego. A private family office acquired the asset from La Plaza Investment for $10.2 million. Built in 1986 and renovated in 2015, the 28,866-square-foot property is fully leased to a mix of restaurant, boutique and experiential tenants. Michael Peterson, Reg Kobzi and Jimmy Slusher of CBRE represented the seller in the transaction.

November 10, 2025

Acquisitions California Retail Western

Flying Horse Investments Buys 29,187 SF Shattuck Plaza in Northern California, Plans Renovation

by Amy Works November 7, 2025

BERKELEY, CALIF. — Flying Horse Investments LLC (FHI) has acquired Shattuck Plaza, a 29,187-square-foot, street-front retail property located in downtown Berkeley, with plans to renovate the center. Renovations will include lease-ready storefronts on the 17,767-square-foot ground-level. The building’s 11,430-square-foot lower-level space will also be reactivated to feature community-serving tenants, such as fitness, education and wellness concepts. The renovation is expected to begin immediately, with FHI targeting approximately six to nine months for initial building upgrades and another six to nine months for tenant build-outs, subject to permitting and city approvals. D-Scheme Studio and Aecore Inc. will lead the redevelopment, while Pegasus Asset Management will oversee property and construction management. The Econic Co. will handle leasing for the property. Bolour Associates financed the acquisition and Pegasus Capital Markets served as debt advisor for the transaction. Nicolas Bicardo of Newmark represented the seller, Hill Street Realty (HSR), which originally acquired the property in October 2012. In March 2021, following a condominium adjustment that formally separated the retail portion from the movie theater and office components of the property, HSR sold the latter portion of the property to Article Student Living, while retaining ownership of the retail frontage.

November 7, 2025

California Company News Development Retail Western

Macy’s, TMG Partners Form Venture for Potential Redevelopment of Flagship Store in San Francisco

by Amy Works November 6, 2025

SAN FRANCISCO — Macy’s and TMG Partners have formed a venture to explore the potential redevelopment of the retailer’s flagship store on Union Square in San Francisco’s retail district. TMG will help Macy’s conduct a “strategic assessment” of the property to explore the viability of renovations and enhancements that will “align with the needs of today’s office workers, residents, visitors, retail and local businesses.” The Union Square location will remain open through the 2025 holiday season and into first-quarter 2026. Further updates on plans and next steps for the Union Square site will be shared in the coming months. In February 2024, Macy’s originally announced plans to close Union Square as part of a larger sell-off of store properties nationwide; however, the company said its store would not close until it found a buyer for the 700,000-square-foot property, as disclosed by several media sources. The Union Square flagship store has been in operation since 1929 and is one of the retailer’s largest and oldest locations.

November 6, 2025

Acquisitions California Industrial Western

Voit Brokers $23.4M Sale of 89,873 SF Industrial Building in La Mirada, California

by Amy Works November 6, 2025

LA MIRADA, CALIF. — Voit Real Estate Services has arranged the purchase of a freestanding industrial building located at 14821 Artesia Blvd. in La Mirada. An Orange County, Calif.-based full-service printing service and fulfillment company acquired the asset from The Realty Associates Fund XII Portfolio for $23.4 million. The buyer will use the 89,873-square-foot property to expand its operations and to accommodate its acquisition of several other companies, according to the Voit team. Eric Smith, Selden McKnight and Stan Kwak of Voit represented the buyer in the deal.

November 6, 2025

California Company News Retail Western

Philip Voorhees to Join BISON Partners After 25-Year Career at CBRE

by Amy Works November 6, 2025

IRVINE, CALIF. — Philip Voorhees will join BISON Partners, a real estate operating company focused on retail properties, following his departure from CBRE at the end of the year after a 25-year tenure. Voorhees currently serves as vice chairman in CBRE’s Retail Capital Markets division, where his retail investment teams have completed more than 1,080 transactions totaling over $15 billion in value. Launched in 2022 by Brad Rable and Wil Smith, BISON Partners was established as a strategic venture to acquire and reposition retail shopping centers. The firm recently expanded its footprint with properties in California, Arizona and Nevada. Voorhees’ expertise in acquisitions and capital markets will support BISON’s continued mission to grow a portfolio of value-add retail properties across the western United States.

November 6, 2025

Acquisitions California Multifamily Western

Marcus & Millichap Brokers Sale of 160-Unit Atrium Garden Multifamily Property in San Jose

by Amy Works November 5, 2025

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of Atrium Garden, an apartment property in San Jose. The property traded for $18.5 million, or $115,531 per unit. The names of the seller and buyer were not released. Mitchell Zurich, Kirk Trammell and Joshua Johnson of Marcus & Millichap represented the seller and procured the buyer in the deal. Constructed in 2000, the four-story Atrium Garden features 159 studios and a one-bedroom manager’s apartment. Studios are furnished with a bed, bedside table and lamp, lounge chair, built-in desk and chair, TV, microwave, mini-fridge and a stove or hotplate. Community amenities include a leasing office, fitness center, media rooms, resident lounges, community kitchens, laundry facilities and an outdoor barbecue and lounge area.

November 5, 2025

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