California

Marcus & Millichap Arranges $18.3M Sale of Terra Oceanside Apartment Complex in California

by Amy Works July 3, 2025

OCEANSIDE, CALIF. — Marcus & Millichap has arranged the sale of Terra Oceanside, a multifamily property in Oceanside. A personal trust sold the asset to a limited liability company for $18.3 million. Located at 3964 and 3970 Waring Road, Terra Oceanside offers 62 studio, one- and two-bedroom apartments with patios or balconies, vinyl flooring, quartz countertops and stainless steel appliances. Community amenities include an onsite management office, laundry facilities, a fitness center, built-in barbecues and ample covered and uncovered parking spaces. Tyler Leeson, Drew Holden and Matthew Kipp of Marcus & Millichap represented the seller, while Holden, Kipp, Leeson and David Yeh of Marcus & Millichap represented the buyer in the transaction.

July 3, 2025

California Hospitality Loans Western

MetroGroup Realty Finance Provides $13.9M Loan for Brand Conversion of 99-Key Hotel in San Mateo, California

by Amy Works July 3, 2025

SAN MATEO, CALIF. — Newport Beach, Calif.-based MetroGroup Realty Finance has provided a $13.9 million loan for the conversion of an existing 99-room Best Western hotel to a Home2 Suites by Hilton hotel in San Mateo. J.D. Blashaw of MetroGroup Realty Finance led the team in providing the financing. MetroGroup’s initial $9.5 million funding retired a bridge loan and provided $4.4 million of future funds to execute the brand conversion.

July 3, 2025

Acquisitions California Office Western

Creative Arsenal Sells 20,347 SF Office Building in Burbank, California

by Amy Works July 2, 2025

BURBANK, CALIF. — Creative Arsenal LLC has completed the sale of an office building, located at 400 S. Victory Blvd. In Burbank, to a private buyer for $5.8 million. The three-story property offers 20,347 square feet of creative office, production and post-production space and immediate access to I-5 and I-134. Gerard Poutier, Mark Shaffer, Anthony DeLorenzo and Dylan Rutigliano of CBRE represented the seller in the transaction.

July 2, 2025

California Loans Multifamily Western

IPA Arranges $61M Construction Financing for Apartment Property in San Mateo, California

by Amy Works July 1, 2025

SAN MATEO, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has secured $61 million in financing for the construction of Arbello, a mixed-use multifamily and office property in San Mateo. Located at 477 9th Ave., the five-story property will feature 120 for-rent apartments and 29,000 square feet of office space. Onsite amenities will include a coworking space, wellness center, clubhouse, expansive courtyard and rooftop deck. Brandon Roth of IPA advised and marketed the financing on behalf of The Martin Group and JPF Capital.

July 1, 2025

Acquisitions California Development Multifamily Western

CGI+ Sells Shovel-Ready Multifamily Development Site in Torrance, California for $40M

by Amy Works July 1, 2025

LOS ANGELES — CGI+, a Los Angeles-based multifamily investment firm, has completed the disposition of a shovel-ready, 4.9-acre development site in Torrance to JPI for $40 million. The property is entitled for a six-story, 525-unit residential building, with 34 units reserved for residents earning less than 30 percent of the area median income. Designed by AC Martin, the planned development will offer floor plans ranging from studio to three-bedroom apartments. Residences will be connected by a series of walking paths leading to four distinct and separate micro-environments offering amenities including outdoor workspaces, barbecue and dining areas, a spa, children’s playground, pet park and fire pits. A 28,000-square-foot aerial central park on top of the project’s eight-story garage will offer 360-degree views from the Pacific Ocean to downtown Los Angeles. The rooftop park will feature a resort-style pool, coffee shop, clubhouse, indoor/outdoor gym, pickleball court and outdoor lounge spaces. Chris Gomez-Ortigoza and Tim Barden of Land Advisors Organization marketed the fully entitled development site on behalf of CGI+.

July 1, 2025

Acquisitions California Office Western

Marcus & Millichap Brokers Sale of 31,701 SF Multi-Tenant Office Building in San Jose, California

by Amy Works June 30, 2025

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of 1054 South De Anza Boulevard, a three-story multi-tenant office property in San Jose. The asset sold for $9.7 million. Yuri Sergunin, Vince Schwab and J.J. Taughinbaugh of Marcus & Millichap represented the undisclosed seller, while Simon Chen of Buffalo RE represented the undisclosed buyer in the deal. Constructed in 1985 on 1.2 acres, the 31,701-square-foot property features an atrium, elevator access and ample parking. At the time of sale, the building was 75 percent occupied.

June 30, 2025

Acquisitions California Retail Western

Brixton Capital Buys Portion of Elk Grove Village Shopping Center in California

by Amy Works June 27, 2025

ELK GROVE, CALIF. — Brixton Capital has purchased four parcels of the Elk Grove Village shopping center from Elk Grove Village LLC (Mima Capital LLC) for $10.6 million. The neighborhood retail center is located at 8511-8591 Elk Grove Blvd. in Elk Grove, approximately 15 miles south of Sacramento. At the time of sale, the property was fully leased. Current tenants include Arby’s, Macque’s BBQ, Plaza del Sol restaurant and Papa Murphy’s Pizza. Over the next five years, Brixton plans to make improvements to the center, which was built between 1984 and 1988. Randy Getz of CBRE represented the seller, while Brixton Capital was self-represented in the transaction.

June 27, 2025

Acquisitions California District of Columbia Multifamily Southeast Top Stories Western

JRK Property Holdings Acquires Two Apartment Communities in Los Angeles, Washington, D.C. for $315M

by Abby Cox June 27, 2025

LOS ANGELES AND WASHINGTON, D.C. — Los Angeles-based JRK Property Holdings has acquired two apartment communities totaling 684 units, Chase Knolls in Los Angeles and WestEnd25 in Washington, D.C., in two separate transactions for a combined total of $315 million. Located on 14 acres in the Los Angeles neighborhood of Sherman Oaks, Chase Knolls is a 401-unit garden-style community that encompasses nearly two city blocks. The property was originally built in 1949 to include 260 Art Deco-inspired apartment homes across 19 one- and two-story residential buildings. In 2021, a new clubhouse and resort-style swimming pool were integrated into the community, along with 141 new units that were constructed to occupy six additional residential buildings. JRK also plans to make further enhancements to the complex to improve the community amenities and common areas. According to Cushman & Wakefield, which marketed the property for sale on behalf of the undisclosed seller, Chase Knolls is one of only 12 apartment communities exceeding 100 units built in Sherman Oaks over the past 75 years, a testament to the significant development hurdles in the area, such as limited land and high barriers to entry. The second property, WestEnd25, is a 283-unit high-rise apartment community that …

June 27, 2025

California Development Multifamily Student Housing Western

GMH, Wexford Complete 252-Bed Student Housing Project Near UC Davis, Sacramento Campus

by Amy Works June 26, 2025

SACRAMENTO, CALIF. — A joint venture between GMH Communities and Wexford Science & Technology has completed ANOVA Aggie Square, a 252-bed development located on Stockton Boulevard near the University of California, Davis (UC Davis) campus in Sacramento. The community offers 190 units in a mix of studio, one-, two- and four-bedroom configurations. Shared amenities include a 2,500-square-foot fitness center with yoga and spin studios; soundproof office pods and private conference rooms; a coffee bar; wellness lounge with a sauna and massage chairs; 24-hour package system; game room with billiards; and an amenity patio with grilling stations. UC Davis Student Housing and Dining Services master leases 49 of the units and leases them at below-market rates. Priority for occupancy of these units is given to first-year medical, nursing and graduate students studying on the Sacramento campus. The remaining units are available for lease via GMH Communities, which operates the property, with priority given to university students, faculty and staff. The community was constructed during Phase I of Aggie Square, a larger mixed-use project that is set to include state-of-the-art research facilities and office space.

June 26, 2025

Acquisitions California Industrial Mixed-Use Office Western

Juniper Ridge Partners Buys Five-Building Flex Property in San Diego for $10.4M

by Amy Works June 26, 2025

SAN DIEGO — Juniper Ridge Partners has acquired Bay Bridge Center in San Diego from Jon and Donna Stockholm Trust for $10.4 million. Located at 1943-1995 Main St., Bay Bridge Center offers 38,300 square feet of mixed-use flex space. The five-building, multi-tenant asset is situated on 2.1 acres in San Diego’s Harbor/Downtown submarket. At the time of sale, Bay Bridge Center was fully leased to six tenants, including San Diego County Schools and Wrensilva, a high-end audio manufacturer. The property features 400 feet of frontage on Main Street and Harbor Drive, secure yard areas and proximity to a San Diego Trolley stop with immediate access to Interstate 5. Chris Holder, Mark Lewkowitz and Will Holder of Colliers represented the buyer and seller in the deal.

June 26, 2025

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