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Mesa West Capital Provides $52M Loan for Refinancing of Sumner Mill Apartments Near Seattle

Amy Works — Fri, 07 Aug 2026 13:40:09 +0000

SUMNER, WASH. — Mesa West Capital has provided Timberlane Partners with a $52 million short-term, first-mortgage loan to refinance Sumner Mill Apartments in Sumner, approximately 30 miles south of Seattle. Joshua Westerberg led the Mesa West Capital team that originated the loan. Jake Roberts of BWE’s Los Angeles office arranged the financing. Delivered in 2024 by the sponsor, Sumner Mill Apartments features 162 garden-style studio, one- and two-bedroom apartments spread across 3.8 acres at 5816 162nd Ave. E. Community amenities include an outdoor pool, fitness center, resident clubhouse with full kitchen, conference room, package room, dog park, picnic area, EV-enabled parking spaces and rooftop solar panels.

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Marcus & Millichap Brokers Sale of 984-Unit Self-Storage Facility in Phoenix

Amy Works — Fri, 07 Aug 2026 13:39:32 +0000

PHOENIX — Marcus & Millichap has brokered the sale of a 984-unit Extra Space Storage facility in Phoenix. Located at 6316 N. 7th St., the gated-access property features fully climate-controlled units, drive-in loading areas, multiple elevators, onsite management office, 24/7 video surveillance and an interior concrete drive aisle with roll-up doors. The property was built in 2021. Adam Schlosser, Jordan Farrer and Charles “Chico” LeClaire of the LeClaire-Schlosser Group of Marcus & Millichap, in association with Ryan Sarbinoff, Marcus & Millichap’s Arizona broker of record, represented the seller in the transaction.

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CONAM Acquires 232-Unit Alicante Apartment Homes in Las Vegas

Amy Works — Fri, 07 Aug 2026 13:39:08 +0000

LAS VEGAS — Multifamily investment firm CONAM, through a discretionary fund, has acquired the 232-unit Alicante Apartments Homes in Las Vegas’ Spring Valley submarket. Terms of the transaction were not released. Built in 2001 on 11.2 acres, Alicante features one-, two- and three-bedroom apartments across two-story, garden-style buildings. All units feature luxury vinyl plank flooring, quartz countertops, stainless steel appliances and full-size in-unit washers and dryers. Community amenities include a pool, spa, fitness center with yoga and spin studios, clubhouse, billiards room, dog park, playground, package lockers and gated access.

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PSRS Arranges $11.2M Loan for Refinancing of Office Building in San Bernardino, California

Amy Works — Fri, 07 Aug 2026 13:36:06 +0000

SAN BERNARDINO, CALIF. — Commercial mortgage banking firm PSRS has arranged a $11.2 million loan for the refinancing of a nine-story office building in San Bernardino. At the time of financing, the 126,000-square-foot property was 89 percent leased to tenants such as the Internal Revenue Service (IRS) and the City of San Bernardino. Jacob Lee and Nathan Toomey of PSRS arranged the loan, which was structured with a five-year term, a 25-year amortization schedule and a dedicated reserve for capital expenditures. The direct lender and borrower were not disclosed.

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Marcus & Millichap Brokers Sale of Six-Property Self-Storage Portfolio in Oregon

Amy Works — Thu, 06 Aug 2026 13:46:00 +0000

PORTLAND, ORE. — Marcus & Millichap has brokered the sale of a six-property, 537,962-square-foot self-storage portfolio in Oregon. The properties are located in Ashland, Bend, Prineville, Redmond, Hood River and Hillsboro. Adam Schlosser, Keith Phillips and Dean Trammell of Marcus & Millichap, represented the seller in the transaction. David Tabata of Marcus & Millichap assisted in closing the deal as the broker of record. Totaling 3,545 units, the portfolio includes Secure Storage facilities at 2855 State Highway 66 in Ashland, 63031 OB Riley Road in Bend, 2200 NE Buckboard Lane in Prineville, 3001 NW Canal Blvd. in Redmond, 1400 Tucker Road in Hood River and 4800 NE Cornell Road in Hillsboro. Ground-level access spans the portfolio’s rentable square footage, and two of the six properties include dedicated land for future expansion.

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Olson Co. Buys Office Property in Monterey Park, California for $24.8M, Plans Residential Conversion

Amy Works — Thu, 06 Aug 2026 13:44:13 +0000

MONTEREY PARK, CALIF. — The Olson Co. has acquired a 7.9-acre office campus in Monterey Park, located east of downtown Los Angeles, for $24.8 million. The buyer plans to redevelop the two-building, 120,191-square-foot property into a residential community. Originally built in 1980, the campus was previously owned and occupied by Blue Shield of California. The property includes a three-story, 91,363-square-foot office building at 601 Potrero Grande Drive and a companion office building at 2100 Saturn St. The campus provides 508 surface parking spaces and is zoned Saturn Park under Monterey Park’s McClaslin Business Park overlay. Ryan Campbell of NAI Capital Commercial represented the buyer in the deal, while Andrew Harper, Jeff Bramson and Will Poulsen of JLL represented the seller.

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CapRock Partners Acquires 244,847 SF Industrial Property in Surprise, Arizona

Amy Works — Thu, 06 Aug 2026 13:43:33 +0000

SURPRISE, ARIZ. — CapRock Partners has purchased Summit at Surprise, a newly completed, 244,847-square-foot warehouse located northwest of Phoenix. Summit Surprise features two freestanding Class A buildings on two parcels totaling 16.9 acres. Building A spans 79,200 square feet, and Building B totals 165,647 square feet. At the time of acquisition, the property was 15 percent leased. Building A includes 1,956 square feet of office space, 20 dock-high loading doors, two grade-level doors, 132 parking spaces and 2,000 amps of electrical service. Building B features approximately 1,874 square feet of office space, 47 dock-high loading doors, four grade-level doors, 244 parking spaces and 3,000 amps of electrical service. The properties are located at 12460 and 12730 N. Dysart Road. Kirk Kuller, Callahan Conway, Bo Mills and Courtney Webb of KBC Advisors brokered the sale, terms of which were not released. John Lydon and Nicole Marshall of JLL are handling leasing of the property.

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CRE8 Advisors Arranges $6.1M Sale of Industrial Building in Mesa, Arizona

Amy Works — Thu, 06 Aug 2026 13:40:31 +0000

MESA, ARIZ. — CRE8 Advisors has arranged the $6.1 million sale of a newly constructed industrial building located at 7320 E. Pecos Road in Mesa. ADV Reline Service Inc. acquired the asset from Cavan Commercial. The buyer, an underground piper repair company, will utilize the facility to support its operations and continued growth. The 15,796-square-foot property is located within the Pecos 17 Industrial Development and features a secure, fenced yard.

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Camden Property Trust Sells $1.6B Multifamily Portfolio in Southern California

Hayden Spiess — Thu, 06 Aug 2026 11:34:00 +0000

HOUSTON — Houston-based multifamily owner, developer and manager Camden Property Trust (NYSE: CPT) has completed the sale of a multifamily portfolio in Southern California for $1.6 billion. The portfolio comprises 11 properties spanning 3,620 units. An entity managed by BlackRock Inc. (NYSE: BLK) was the buyer. Trailing 12-month occupancy across the portfolio was 96 percent at the time of sale. Properties in the portfolio include The Camden, a 287-unit community in the Hollywood entertainment district of Los Angeles that features an Equinox gym on the ground level; Camden Crown Valley, a 380-unit community in Mission Viejo; Camden Landmark, a 469-unit community in Ontario; and Camden Hillcrest, a 132-unit community in San Diego’s Hillcrest neighborhood. Blake Rogers, Alexandra Caniglia, Kip Malo and Dillon Bergum of JLL Capital Markets brokered the transaction. This marks one of the largest multifamily transactions in Southern California to date, according to the brokerage. “Southern California has long been one of the most durable multifamily markets in the country,” says Derek Helgeson, co-head of U.S. real estate at BlackRock. “Camden has built and operated these communities to an exceptionally high standard, and we are grateful to them for a thoughtful and collaborative sale process.” Additionally, Kevin Mackenzie,…

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Lee & Associates’ Q2 Report: Office, Retail Markets Gain Momentum as Industrial, Multifamily Face Headwinds

Sarah Daniels — Thu, 06 Aug 2026 11:00:00 +0000

The Lee & Associates’ 2026 Q2 North America Market Report finds that commercial real estate fundamentals are improving, but the pace of recovery varies significantly by property type and market. Office and retail sectors are showing renewed momentum, industrial demand continues to recover unevenly amid trade uncertainty and multifamily fundamentals are stabilizing as new supply begins to moderate. Across all sectors, investors and occupiers remain highly selective in an evolving market. Sponsored: Download Lee & Associates’ 2026 Q2 North America Market Report. Industrial Overview: Recovering Demand Is Uneven Amid Trade Tensions Demand for North American industrial space in the second quarter continued to recover from slowing caused by heightened trade uncertainties that began early last year. Modest tenant expansion in the United States remains well off pre-COVID average growth. In the United States, 44.4 million square feet of net absorption in the second quarter brought the mid-year total to 77.1 million square feet, about 30 percent less than the pre-pandemic five-year average. First-half deliveries fell to 93 million square feet, which included 44.4 million square feet in the first quarter — the least in seven years. Although supply additions have moderated, the pullback in tenant demand over the past three years…

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Colliers Negotiates $18.4M Sale of Sunset Self Storage Facility in Puyallup, Washington

Amy Works — Wed, 05 Aug 2026 13:15:25 +0000

PUYALLUP, WASH. — Colliers has negotiated the $18.4 million sale of Sunset Self Storage, a newly constructed facility located at 5514 152nd St. E in Puyallup, a suburb of Tacoma. An entity doing business as BVDSS Puyallup Owner LLC sold the asset to Mitchell RE Holdings LLC. Completed in 2025, Sunset Self Storage features climate-controlled units, multistory elevator access, modern security systems and a variety of storage options. The asset offers direct access to state routes 512 and 167 and I-5. Jacob Becher and Nate Fliflet of Colliers represented the buyer and seller in the transaction.

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Six Ridge Partners Divests of Three-Building Riverwoods Business Park in Provo, Utah

Amy Works — Wed, 05 Aug 2026 13:15:02 +0000

PROVO, UTAH — Six Ridge Partners, formerly Dakota Pacific, has divested of Riverwoods Business Park in Provo. Terms of the transaction were not released. Brandon Fugal, John Monson and Grant Lammerson of Colliers represented Six Ridge Partners in the transaction, while Summit Commercial Advisors represented the undisclosed buyer, which purchased the property on behalf of an investor group affiliated with Flagship Cos. Developed in the mid-1990s, the three-building campus offers 185,000 square feet of research, innovation and office space. Current tenants include Qualtrics, Vivint and UCCU.

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Faris Lee Investments Negotiates $5.3M Sale of Retail Strip Center in Fontana, California

Amy Works — Wed, 05 Aug 2026 13:11:00 +0000

FONTANA, CALIF. — Faris Lee Investments has negotiated the $5.3 million sale of a retail strip center in Fontana, located in Southern California’s San Bernardino County. Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments handled the transaction. The names of the buyer and seller were not released. Chipotle, Jersey Mike’s, Dragon Grill, KWIK Charge EV Charging Stations and Phantom Fireworks are tenants at the 4,872-square-foot property, which is positioned as a pad building in front of a WinCo Foods.

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Torrey Financial Group Sells Single-Tenant Retail Property in Bakersfield, California for $2.6M

Amy Works — Wed, 05 Aug 2026 13:09:00 +0000

BAKERSFIELD, CALIF. — San Diego-based Torrey Financial Group has sold a single-tenant retail property located at 1125 Olive Drive in Bakersfield to a Los Angeles-based investor for $2.6 million. The 8,302-square-foot, newly renovated building was originally constructed in 2013. AutoZone occupies the property on a new 15-year triple-net lease featuring 10 percent rent increases every five years. Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisors represented the seller in the deal, while Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer.

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Geringer Capital Sells 267-Unit Apartment Community in Mesa, Arizona

Amy Works — Tue, 04 Aug 2026 13:23:17 +0000

MESA, ARIZ. — Geringer Capital has sold Avia 266, a 267-unit apartment community in Mesa, to San Diego-based ColRich for $52.4 million, including the assumption of an existing HUD loan. ColRich will rename the property The Remy. Matt Pesch, Asher Gunter and Austin Groen of CBRE represented the seller in the deal. Completed in 1984, The Remy features one- and two-bedroom units in a low-density garden-style design. Community amenities include two pools and spa areas, a 24/7 fitness center, outdoor courtyard with recreation and gathering spaces, resident clubhouse with a community kitchen, package lockers and a fenced dog park.

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IPA Brokers $36.7M Sale of Apartment Complex in California’s Inland Empire

Amy Works — Tue, 04 Aug 2026 13:22:23 +0000

POMONA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $36.7 million sale of Terramonte at Foothill, an apartment property in the Inland Empire city of Pomona. Positive Investments sold the asset to Sack Capital Partners for $265,942 per unit. Kevin Green, Chris Zorbas, Joseph Grabiec, Alexander Garcia Jr. And Greg Harris of IPA represented the seller and procured the buyer in the transaction. Built in 1963 on 9 acres and renovated between 2012 and 2023, Terramonte at Foothills features 138 apartments, two pools, sundecks, spa, fitness center, barbecue pavilion, coworking space and garages. The unit mix is 70 percent two-bedroom units, plus studios and one- and three-bedroom apartments, with an average unit size of 910 square feet.

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Marcus & Millichap Arranges $12.5M Sale of Affordable Seniors Housing Community in Southern California

Taylor Williams — Tue, 04 Aug 2026 13:20:00 +0000

LA MESA, CALIF. — Marcus & Millichap has arranged the $12.5 million sale of Guava Gardens, an affordable seniors housing community in La Mesa, located in San Diego County. Los Angeles-based Positive Investments was the buyer. Built in 1986, the property totals 81 units, with 40 studio apartments and 41 one-bedroom apartments. Residences are reserved for seniors age 62 and older. Amenities at the community include a pool, spa, recreation room, outdoor gathering areas, laundry facilities and dedicated parking. Christopher Zorbas, Graeme Henderson and Austin Huffman of Marcus & Millichap represented the undisclosed seller in the transaction.

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Clarion Partners Purchases 70-Unit Seniors Housing Property in Rohnert Park, California

Amy Works — Tue, 04 Aug 2026 13:19:00 +0000

ROHNERT PARK, CALIF. — Clarion Partners has purchased Clearwater at Sonoma Hills, a seniors housing community in Northern California in Rohnert Park. Built in 2020, Clearwater of Sonoma Hills offers 70 assisted living residences and 24 memory care residences with capacity for 100 residents. The 49,000-square-foot community features restaurant-style dining, a theater, art studio, fitness center, putting green and landscaped indoor and outdoor gathering spaces. John Sweeny, Aron Will and Austin Summy of CBRE advised on the sale. Clearwater Living will continue as the property’s operating partner.

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Henderson Park, Lowe Acquire Metro San Diego Mall for $201.5M, Plan Upgrades

John Nelson — Tue, 04 Aug 2026 12:00:00 +0000

NATIONAL CITY, CALIF. — A joint venture between Henderson Park and Lowe has acquired Plaza Bonita, a 1 million-square-foot enclosed regional mall in National City within San Diego County. The seller and sales price were not disclosed, but The San Diego Union-Tribune reports that Paris-based mall giant Unibail-Rodamco-Westfield sold the property for $201.5 million. Built in 1981, Plaza Bonita sits on a 78-acre site and serves the San Diego suburbs of National City and Chula Vista. Anchor tenants of the mall include Macy’s, Target, JCPenney, AMC Theatres, Nordstrom Rack and Round1. Overall, the mall houses 150 stores, restaurants and entertainment venues. Henderson Park and Lowe plan to upgrade and reposition the mall through “significant capital improvements and leasing investment.” The joint venture partners also plan to refresh existing stores and enhance common areas. The construction timeline for the renovations and remerchandising program was not shared. “Plaza Bonita provided a compelling opportunity to acquire and operate a well-performing and stabilized asset that can benefit from physical updates and potential new uses,” says Joel Mayer, executive vice president at Lowe. “Alongside Henderson Park, we intend to build on its strengths and update the property by devoting capital to a host of improvements,…

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Weidner Sells A’Cappella Apartment Homes in Lynnwood, Washington for $112M

Amy Works — Mon, 03 Aug 2026 13:10:27 +0000

LYNNWOOD, WASH. — Weidner Apartment Homes has sold A’Cappella Apartment Homes in Lynnwood for $112 million. The Puget Sound Business Journal identifies Pacific Urban Investors as the buyer. Kyle Yamamoto, Eli Hanacek and Natalie Kasper of CBRE’s Pacific Northwest multifamily team represented Weidner in the transaction. Built in 1989, A’Cappella is located at 15001 35th St. and was 95 percent occupied at the time of closing. Lynnwood sits at the northern terminus of Sound Transit’s Link light rail, which opened in August 2024 and connects residents to Seattle.

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