LOS ANGELES — Marcus & Millichap has brokered the sale of The Versailles Apartments, a five-story multifamily property located at 8811 Burton Way in Los Angeles. The asset traded for $47 million, or $602,564 per unit. Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed, in the transaction. Constructed in 1989, The Versailles Apartments features 78 residences, a rooftop pool and deck, a fitness center, laundry facilities on every floor and two levels of subterranean parking. Apartments include hardwood floors, granite countertops, stainless steel appliances and dishwashers, while select units have washers and dryers.
PALMDALE, CALIF. — Atlanta-based developer Peachtree Group has opened the 220-key TownePlace Suites by Marriott Palmdale hotel. Located at 39330 Trade Center Drive, the hotel’s suites feature fully equipped kitchens, complimentary Wi-Fi and workspaces. Onsite amenities include complimentary hot breakfast, 24-hour fitness center, outdoor pool, pet-friendly suites, free parking and Marriott Bonvoy digital check-in. Peachtree Group’s hospitality management division will operate the hotel, which is one of the firm’s early EB-5 developments and previously received I-956F approval from U.S. Citizenship & Immigration Services. The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the United States.
ROHNERT PARK, CALIF. — Levin Johnston of Marcus & Millichap has directed the sale of a 67,584-square-foot medical office property located at 5900 State Farm Drive in Rohnert Park. A private family ownership group acquired the asset from an undisclosed seller for $23.7 million. Kaiser Permanente and Petaluma Health Center anchor the two-story property. Robert Johnston, Adam Levin and Justin Fink of Levin Johnston of Marcus & Millichap represented the seller and procured the buyer in the deal.
ROSEVILLE, CALIF. — Affiliates of Zilber Residential Group and Homes by Towne have completed Estia Roseville, a 209-unit multifamily community located in the greater Sacramento area. Located at 6350 Baseline Road, Estia Roseville consists of one- and two-bedroom and cottage-style apartments ranging in size from 709 to 1,083 square feet. Units feature private entrances, 10-foot ceilings, walk-in closets, individual washers and dryers, stainless steel appliances and private, fenced-in backyards with built-in doggie doors. Community amenities include a dog park, pet spa, swimming pool, 24-hour fitness center and a dedicated yoga studio.
LOS ANGELES — Colliers has brokered the sale of 11418 Missouri Avenue, a 44-unit affordable multifamily property located in the Sawtelle neighborhood of West Los Angeles. Generation Real Estate Partners and Eris Development sold the asset to an undisclosed buyer for $16.6 million, or $718 per square foot. Kitty Wallace and Andrew Eberhard of Colliers represented the sellers in the deal. Completed in 2025, the four-story property features a rooftop amenity space, solar panels, onsite laundry facilities, fitness amenities and bicycle storage. The project was one of the first developments under Executive Directive 1, a program introduced in December 2022 to accelerate the production of 100 percent affordable housing.
ORANGE, CALIF. — Faris Lee Investments has brokered the $10 million sale of a value-add retail property located in Orange. The asset traded for $209 per square foot. Nike Miller of Faris Lee Investments represented the seller and buyer in the transaction. The property was held by the same ownership family since 1964. The name of the buyer was not disclosed.
SAN FRANCISCO — CBRE has negotiated the $7.3 million sale of Sutter Mansion, a boutique hotel located at 1409 Sutter St. in San Francisco’s Japantown/Pacific Heights area. Alex Lee-Bull and Lauren Lamb of CBRE Hotels represented the seller, a partnership between Cape Town and San Francisco-based branded residential and hospitality group Neighbourgood. The buyer was confidential. Originally built in 1881 and renovated in 2019, Sutter Mansion is a Grand Victorian-style estate featuring 12 oversized guestrooms averaging 400 square feet, as well as a restaurant and bar, two commercial kitchens, event space and onsite parking.
SAN DIEGO — Palo Alto, Calif.-based Pacific Urban Investors has purchased Casas by the Sea, an oceanfront multifamily property in the Bird Rock/La Jolla neighborhood of San Diego. Terms of the transaction were not disclosed. Situated adjacent to Tourmaline Beach, Casas by the Sea features 140 studio, one-, two- and three-bedroom apartments spread across four residential buildings and two single-family homes. The property was built in 1970. Approximately 86 percent of the units offer ocean views.
LOS ANGELES — Regional brokerage firm PSRS has arranged $6.8 million in construction financing for an affordable housing project on Ben Avenue in the North Hollywood neighborhood of Los Angeles. The property will feature 40 affordable apartments. To secure bank approval for the project’s first-time developers, PSRS reworked the ownership structure to bring in a sponsor, MOBBIL Inc., to take a nominal equity position and strengthen the track record. Michael Warner of PSRS secured the two-year, interest-only construction loan, which features a 65 percent loan-to-value ratio.
SANTEE, CALIF. — CBRE has arranged the sale of a multi-tenant retail building located at 8781 Cuyamaca St. and 9822 Buena Vista Ave. in Santee. Affiliates of Calgary Development sold the asset to Burggraf Family Trust for $3.7 million. Situated on 1.1 acres, the property features 16,390 square feet of retail space and was 90 percent leased at the time of sale. Reg Kobzi, Michael Peterson and Lane Robertson of CBRE represented the seller, while William Strocco Jr. of St. Rocco Properties represented the buyer in the deal.