California

BKM, Kayne Anderson Acquire 8.5 MSF Light Industrial Portfolio for $1.8B

by Kristin Harlow June 3, 2026

NEWPORT BEACH, CALIF. AND BOCA RATON, FLA. — BKM Capital Partners and Kayne Anderson Real Estate have acquired an 8.5 million-square-foot light industrial portfolio from Link Logistics for $1.8 billion. The portfolio includes 51 multi-tenant properties across markets in California, Washington, Texas and Georgia. The deal marks the largest light industrial transaction since 2022, according to the joint venture partners, which now maintain roughly 15 million square feet of multi-tenant light industrial assets under management. The portfolio is approximately 90 percent occupied and consists of nearly 2,000 units across 275 buildings, all located in infill submarkets within high-growth metropolitan areas. “At Kayne Anderson Real Estate, we continue to focus on sectors where we see durable demand drivers and the opportunity to create value through scale, vertical integration and operational expertise,” says Al Rabil, co-founder and CEO of Kayne Anderson Real Estate. “Multi-tenant light industrial remains a highly fragmented segment with compelling fundamentals.” “This acquisition marks the largest addition to BKM’s platform to date and is representative of the strategy we have deployed in the multi-tenant light industrial space for years,” says Brian Malliet, founder, CEO and chief investment officer of BKM. “It not only underscores the importance of deep operating …

June 3, 2026

Acquisitions California Retail Western

JLL Arranges $91.3M Sale of 122,167 SF Retail Center in Southern California

by Amy Works June 2, 2026

CARLSBAD, CALIF. — JLL Capital Markets has arranged the $91.3 million sale of The Beacon, a 122,167-square-foot neighborhood retail center located in Carlsbad, roughly 35 miles north of San Diego. Asana Partners sold the asset to 11North Partners. The Beacon, which comprises 15.2 acres, was originally built in 1982 and renovated from 2020 to 2023. Luxury fitness brand Equinox anchors the center, which features a mix of tenants including Arhaus, Sweetgreen, Shake Shack, Jeni’s Ice Cream, Pitfire Pizza and Lofty Coffee Co. Geoff Tranchina, Gleb Lvovich and Daniel Tyner of JLL represented the seller in the deal.

June 2, 2026

Acquisitions California Multifamily Western

Advanced Real Estate Buys 126-Unit Casa La Paz Apartment Community in Rowland Heights, California

by Amy Works June 2, 2026

ROWLAND HEIGHTS, CALIF. — Advanced Real Estate has purchased Casa La Paz, a 126-unit multifamily property located in Rowland Heights, an unincorporated community in the San Gabriel Valley within Los Angeles County. The company acquired the property via its Advanced Fund 24-3, a 721 tax-deferred “exchange and contribution” structure. Through this process, the former ownership group contributed the property into the fund in exchange for partnership interests in Advanced Fund 24-3. Additional terms of the transaction were not released. Advanced Real Estate plans to execute a comprehensive value-add renovation to the community, which will be rebranded as The Rowland. Advanced’s affiliated construction company, R3 Construction Services, will administer the renovations. Property management will be handled in-house by Advanced Management Co.

June 2, 2026

Acquisitions California Office Western

Chinatown Service Center Acquires 25,320 SF Office Building in San Gabriel, California

by Amy Works June 2, 2026

SAN GABRIEL, CALIF. — Chinatown Service Center, a nonprofit, has purchased an office building located at 526 W. Las Tunas Drive in San Gabriel from 211 LA for $8.2 million. Mark Shaffer, Anthony DeLorenzo and Dylan Rutigliano of CBRE represented the seller, while Natalie Bazarevitsch and Jackie Benavidez of CBRE represented the buyer in the deal. Originally developed in 1955 as a regional bank branch, the two-story, elevator-served building features 25,320 square feet of office space, as well as a basement and drive-around surface parking. The building has been consistently maintained and upgraded, including a new roof, a backup diesel generator, a three-stop hydraulic elevator installed in 2021 and lighting largely retrofitted to LED.

June 2, 2026

Acquisitions California Multifamily Western

PCCP, Alliance Residential Buy 184-Unit Multifamily Community in Riverside, California

by Amy Works June 1, 2026

RIVERSIDE, CALIF. — A joint venture between PCCP Multifamily and Alliance Residential Co. has purchased The Hawthorne, an apartment property located at 9170 Indiana Ave. in Riverside, for $65.3 million. Details of the transaction were not released. Situated on 6.7 acres, The Hawthorne consists of 16 two- and three-story residential buildings and a single-story amenities building. Delivered in 2023, the property features 184 one-, two- and three-bedroom floor plans, averaging 873 square feet. Units offer quartz countertops, kitchen islands, stainless steel appliances with gas ranges, in-unit washers/dryers, vinyl plank flooring and private patios or balconies. Community amenities include a pool and spa with cabanas, multiple landscaped courtyards with barbecues and fire pits, a clubhouse with entertainment areas and a fitness center. Additionally, the property features 330 parking spaces, including 183 private garages.

June 1, 2026

Acquisitions California Hospitality Western

Pebblebrook Sells Chamberlain West Hollywood Hotel Near Los Angeles for $43.5M

by Amy Works June 1, 2026

WEST HOLLYWOOD, CALIF. — Pebblebrook Hotel Trust has completed the disposition of Chamberlain West Hollywood Hotel in West Hollywood. An undisclosed buyer acquired the asset for $43.5 million. Located at 1000 Westmount Drive, Chamberlain West Hollywood Hotel features 115 guest rooms.

June 1, 2026

California Market Reports Multifamily Western Western Market Reports

Multifamily Resets for a High-Velocity Recovery in Los Angeles

by John Nelson May 30, 2026

— By Kitty Wallace of Colliers — The Los Angeles multifamily market is undergoing a short-term reset as a recent wave of deliveries has softened rents and modestly increased vacancy. However, this dislocation is proving transitory as development has slowed dramatically and the forward pipeline is effectively falling off a cliff beyond 2026, reinforcing what remains one of the most supply constrained and fundamentally durable markets in the country. Since the onset of COVID, the Los Angeles market has contended with elevated legislative risk, homelessness and crime concerns, modest population fluctuations, rising operating expenses, and, most notably, increased insurance premiums and utility costs. Yet, with a vacancy in the mid-5 percent range, this multifamily market continues to outperform the national average of roughly 8 percent. Rents are now stabilizing and beginning to inflect upward as concessions burn off and demand normalizes. Policy Headwinds, Construction Challenges, Emerging Tailwinds The ULA tax, imposing a 5.5 percent levy on transactions above $10.6 million, has further constrained new construction. This has made it increasingly difficult for projects to pencil and has driven many sites toward lower-density uses or affordable housing backed by subsidized capital. As a result, much of the current development activity is concentrated among …

May 30, 2026

Acquisitions California Industrial Self-Storage Western

Bancap Self Storage Group Brokers Sale of Two Properties Totaling 315 Units in Corning, California

by Amy Works May 29, 2026

CORNING, CALIF. — Bancap Self Storage Group has arranged the sale of two self-storage properties operated together in Corning. A private family trust sold the assets to a local group for an undisclosed price. Dean Keller of Bancap Self Storage Group represented the seller in the transaction. Airport Mini Storage and Affordable Mini Storage offer a combined nearly 52,000 net rentable square feet with 315 units. At the time of sale, the portfolio was fully occupied.

May 29, 2026

California Loans Multifamily Western

Walker & Dunlop Structures $101.6M HUD-Insured Loan for Refinancing of Apartment Property in Chula Vista

by Amy Works May 28, 2026

CHULA VISTA, CALIF. — Walker & Dunlop has arranged a $101.6 million HUD 223(f) loan to refinance Enclave Heritage Flats, an apartment community in Chula Vista. Enclave Heritage Flats features 312 one-, two- and three-bedroom apartments. Community amenities include a fitness center, resort-style swimming pool, movie screening theater, coworking spaces, outdoor gathering areas and pet-friendly accommodations. Baldwin Asset Management is the property manager. Gregory Richardson and Jeff Kearns of Walker & Dunlop Capital Markets Real Estate Finance and Walker & Dunlop Affordable Housing secured the financing on behalf of The Baldwin Co. The loan refinances existing debt that Walker & Dunlop arranged in 2024.

May 28, 2026

Affordable Housing California Development Multifamily Western

MidPen, EPACANDO Open 136-Unit Affordable Housing Community in East Palo Alto, California

by Amy Works May 28, 2026

EAST PALO ALTO, CALIF. — MidPen Housing and the East Palo Alto Community Alliance Neighborhood Organization (EPACANDO) have opened Colibri Commons, a 136-unit affordable housing community at 965 Weeks St. in East Palo Alto. The property’s 136 studio, one-, two-, three- and four-bedroom units are reserved for tenants earning no more than 60 percent of the area median income. Community amenities include a community room, an outdoor play area and free onsite services such as nutrition classes, adult education and after-school programming. MidPen Property Management is the property manager. Financing for Colibri Commons was provided through multiple public and private sources. The project team included David Baker Architects and Blach Construction.

May 28, 2026

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