California

Hawthorn Senior Living Opens 149-Unit Independent Living Community Near Sacramento

by Amy Works August 7, 2025

RANCHO CORDOVA, CALIF. — Developer, owner and operator Hawthorn Senior Living has opened Bear Hollow Estates, a new independent living community located in Rancho Cordova, roughly 15 miles outside Sacramento. Totaling 149 units, the property features studio, one- and two-bedroom apartments. Amenities at the $46.5 million development include a fitness studio, movie theater, billiards lounge, pub, salon and library. Outdoor features include walking paths, raised garden beds and a fire-pit courtyard. This marks Hawthorn Senior Living’s sixth community in California. Hawthorn’s national portfolio comprises more than 70 communities.

August 7, 2025

Acquisitions California Multifamily Walker & Dunlop Western

Gelt Venture Partners Buys 92-Unit Multifamily Community in National City, California

by Amy Works August 7, 2025

NATIONAL CITY, CALIF. — Gelt Venture Partners has acquired The Commodore, an apartment property located at 200-250 E. 31st St. in National City, for $40 million. Built in 2024, The Commodore comprises six three-story buildings offering a total of 92 studio, one- and two-bedroom floor plans with select units featuring two-story and loft-style layouts. At the time of sale, the property was 96 percent occupied. Units feature in-unit washers/dryers, quartz countertops, designer tile backsplashes, wood-style plank flooring, European-style cabinetry, stainless steel appliances and private balconies. Community amenities include a resort-style pool and spa, clubhouse, an outdoor lounge with fire pit, barbecue areas, electric vehicle charging stations, detached garages and an onsite leasing office. Hunter Combs of Walker & Dunlop represented the buyer and undisclosed seller in the deal.

August 7, 2025

Acquisitions California Industrial Self-Storage Western

Claremont Cos. Sells 5.3-Acre Self Storage of Vacaville Property in California

by Amy Works August 7, 2025

VACAVILLE, CALIF. — The Claremont Cos. has completed the disposition of Self Storage of Vacaville, a self-storage facility in Vacaville, to Westport Properties for an undisclosed price. Dean Trammell and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in the transaction. Tony Solomon of Marcus & Millichap served as broker of record. Situated on 5.3 acres, Self Storage of Vacaville was originally constructed in 2018 and expanded in 2019. The facility features electronic gated entry with a digital keypad, a large institutional-style leasing office with retail, security monitor display with 24/7 video surveillance throughout the facility, concrete driveways and metal roll-up doors.

August 7, 2025

California Loans Multifamily Seniors Housing Western

BWE Secures $65M Bond Financing for Seniors Housing Community in Milpitas, California

by Amy Works August 6, 2025

MILPITAS, CALIF. — BWE has arranged $65 million in bond financing for Ivy Park at Milpitas, a seniors housing property in Milpitas. The financing was secured on behalf of a joint venture between Blue Mountain Enterprises and SRM Development. Oakmont Management Group is managing the property. Ryan Stoll and Taylor Mokris of BWE arranged the financing. The loan was structured as a 15-year bond issuance, credit-enhanced by a letter of credit from Poppy Bank, and features five years of interest-only payments along with a favorable covenant structure. The financing provides the sponsor with enhanced flexibility and a long-term runway to complete lease-up and drive operational performance. The four-story, 205,000-square-foot Ivy Park at Milpitas offers 199 independent living, assisted living and memory care units, as well as a subterranean parking garage. Community amenities include all-day dining at The Vine at Ivy restaurant, a fitness center, indoor heated pool, library, salon, movie theater and a landscaped outdoor courtyard. The community also offers 24-hour staffing, concierge services and a social calendar for residents.

August 6, 2025

Acquisitions California Retail Western

Mershops Acquires Weberstown Mall in Stockton, California for $50.8M

by Amy Works August 6, 2025

STOCKTON, CALIF. — Family-owned real estate platform Mershops has acquired Weberstown Mall, an 800,000-square-foot regional shopping center located in Stockton, for $50.8 million. Originally opened in 1966, the center is anchored by JCPenney, Dillard’s and Barnes & Noble. Other tenants include Old Navy, Five Below, BoxLunch, Foot Locker, Lids, Victoria’s Secret and Journeys. Steerpoint Capital brokered the sale on behalf of Mershops. The seller was Washington Prime Group. This transaction marks Mershops’ sixth enclosed shopping center acquisition across California and Nevada. Mershops’ current portfolio includes North County Mall in Escondido, Calif.; Galleria at Sunset in Henderson, Nev.; Antelope Valley Mall in Palmdale, Calif.; The Shops at Montebello in Montebello, Calif.; Northridge Mall in Salinas, Calif.; and two office campuses in Silicon Valley. The company plans to make reinvestments for each property, blending retail, hospitality and community elements.

August 6, 2025

Acquisitions California Industrial Western

First Industrial Realty Trust Buys Silicon Valley Property for $10.6M

by Amy Works August 6, 2025

SANTA CLARA, CALIF. — First Industrial Realty Trust has acquired a low-coverage industrial property located at 415 Aldo Ave. and 420 Nelo St. in Santa Clara for $10.6 million. Situated on 2.4 acres, the fully occupied site includes a 9,896-square-foot industrial facility and secured yard space. Ray Devlin of Colliers represented the buyer, while Mark Biagini of Biagini Properties represented the undisclosed sellers in the deal.

August 6, 2025

Acquisitions California Lee & Associates Office Western

Elysian Housing, Capstone Equities Buy California Office Building for $20.6M, Plan Affordable Housing Conversion

by Amy Works August 5, 2025

ENCINO, CALIF. — Elysian Housing and Capstone Equities have acquired an office building located at 5435-5445 Balboa Blvd. in Encino from 5435 Balboa LLC for $20.6 million. The buyers will convert the 74,947-square-foot office building into The Oaks on Balboa, an affordable housing community offering 117 studio and one-bedroom apartments. Darren Casamassima and Scott Romick of Lee & Associates LA North/Ventura represented the seller and buyer in the deal.

August 5, 2025

California Industrial Leasing Activity Western

Rexford Negotiates 123,492 SF Industrial Lease in San Diego

by Amy Works August 5, 2025

SAN DIEGO — Rexford Industrial has inked a lease with an undisclosed tenant to fully occupy 8888 Balboa Avenue in San Diego’s Kearny Mesa submarket. The Class A distribution facility offers 111,706 square feet of warehouse space, 11,786 square feet of two-story office space, 20 dock-high loading positions, a clear height of 36 feet, ESFR sprinklers, concrete paving throughout the loading and yard area, and multiple access points with gated entry/exit and fencing. Evan McDonald, Mark Lewkowicz and Tucker Hohenstein of Colliers represented Rexford, while Wills Allen and Mike McQuaid of Newmark represented the tenant in the transaction.

August 5, 2025

Acquisitions California Retail Western

Hanley Investment Group Arranges $4.6M Sale of Multi-Tenant Retail Pad Site in Fresno, California

by Amy Works August 5, 2025

FRESNO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a 7,052-square-foot multi-tenant retail pad site located at 6770 North Brawley Ave. in Fresno. A Dutch Bros Coffee drive-thru anchors the property, which is situated within the River Oak Plaza shopping center. Built in 2019 on 1.3 acres, the building is fully leased to four additional tenants including West Coast Sourdough, WaBa Grill, Sport Clips and Organic Nails & Spa. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, California Gold Development Corp., in the transaction. Vicky Casey of Casey & Associates represented the buyer, a Visalia, Calif.-based private investor. Hanley Investment Group has sold 96 coffee-related retail properties totaling $357 million across the U.S. in the past two years, including 11 Dutch Bros Coffee shops in the past 12 months.

August 5, 2025

California Development Multifamily Student Housing Western

Swinerton to Build 3,640-Bed Student Housing Development at San Diego State University

by Amy Works August 4, 2025

SAN DIEGO — The San Diego division of construction firm Swinerton has been tapped to lead the design-build team for a 3,640-bed project on the San Diego State University (SDSU) campus. Dubbed the “Evolve Student Housing” project, the development will include a suite-style residence hall named Tarastec, offering 650 beds for freshman and sophomore students; University Towers East, a 720-bed residence hall offering double-occupancy rooms for first-year students; and Templo del Sol, a two-story, 17,420-square-foot community center with dining facilities, communal spaces, food services, conference rooms and mailing services. Tarastec and Templo del Sol will be located on the west side of the SDSU campus near 55th Street and Aztec Circle Drive. University Towers East will be located next to the existing University Towers development on Montezuma Road. Construction on Tarastec began this summer with completion scheduled for fall 2026. University Towers East is expected for completion in fall 2027. Architectural firm Gensler is part of the development team for the project.

August 4, 2025

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