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Seattle Housing Agency Buys First Multifamily Property for $60.9M

Amy Works — Tue, 30 Jun 2026 13:09:42 +0000

SEATTLE — The Seattle Social Housing Developer (SSHD) has acquired its first multifamily property since city voters approved the creation of the independent public development authority in 2023. Spartanburg, South Carolina-based Johnson Development Associates sold Elara at the Market to SSHD for $60.9 million. Kidder Mathews arranged the sale. The 150-unit property, which Johnson Development Associates built in 2017, is located half a mile northwest of Pike Place Market. In 2023, Seattle city residents voted on Initiative 135, a local citizen-led ballot measure that officially chartered SSHD. In 2025, city voters went to the polls again to pass Proposition 1A, approving a local city tax on high-earning corporations to fund the public development authority. The city maintains the Seattle Housing Authority (SHA), which primarily serves the city’s poorest residents, mostly backed by federal HUD programs that fund households earning 30 percent or less of the area median income (AMI). SSHD, on the other hand, serves a middle bracket of residents earning up to 120 percent of AMI, specifically designed to help workforce renters, such as teachers and service industry workers — those renters who earn too much to qualify for public housing but not enough to afford market-rate rents. Johnson…

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IPA Arranges $32M Sale of Multifamily Property in Tucson, Arizona

Amy Works — Tue, 30 Jun 2026 13:06:15 +0000

TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $32 million sale of Peaks at Redington, an apartment community in Tucson. An undisclosed seller sold the asset to Greenwater Real Estate Management for $106,312 per unit. Hamid Panahi and Clint Wadlund of IPA represented the seller in the disposition of the lender-owner asset and procured the buyer in the transaction.  Constructed in 1980, Peaks at Redington features 301 one- and two-bedroom units averaging 722 square feet.

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Newmark Negotiates $24.5M Sale of Office Campus in Carlsbad, California

Amy Works — Tue, 30 Jun 2026 13:02:49 +0000

CARLSBAD, CALIF. — Newmark has negotiated the $24.5 million sale of Ventana, a Class A office campus located at 2173, 2175 and 2177 Salk Ave. in the Southern California city of Carlsbad. The names of the seller and buyer were not disclosed. Ventana features three buildings offering a total of 219,359 square feet of office space on nearly 15 acres. The property features institutional-grade construction, “large” and “efficient” floor plates and an amenity package that includes outdoor tenant areas and fitness facilities. At the time of sale, the campus was approximately 65 percent leased. Brad Tecca and Rick Reeder of Newmark represented the undisclosed seller in the deal.

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Cushman & Wakefield | PICOR Brokers Sale of 123,394 SF Industrial Building in Tucson, Arizona

Amy Works — Tue, 30 Jun 2026 13:01:41 +0000

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has brokered the sale of the 123,394-square-foot industrial building located at 3430 E. 36th St. in Tucson. The sales price was $8.6 million. A company doing business as Arto 3430 LLC acquired the property, which is known locally as the former Sam Levitz building, from a company operating under the name 36th & Palo Verde Investors LLC. Arto Brick, a manufacturer of handmade ceramic, porcelain and concrete tiles, pavers and brick veneers, will occupy the property in an effort to expand its California manufacturing operations into the Tucson market. Stephen Cohen and Paul Hooker of Cushman & Wakefield | PICOR represented the seller in the transaction, while Rick Borane of Volk Co. represented the buyer in the deal.

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Tides Equities Sells Apartment Complex in Phoenix for $41M

Amy Works — Mon, 29 Jun 2026 13:49:37 +0000

PHOENIX — Tides Equities has sold Tides on McDowell, a multifamily community located at 4620 W. McDowell Road in Phoenix, to Houston-based Nitya Capital for $41 million. Jesse Hudson, Logan Baca and Chris Michl of Northmarq’s Phoenix office represented the Los Angeles-based seller in the transaction. Built in 1985 on 13 acres, Tides on McDowell features 27 two-story buildings with studio, one- and two-bedroom floor plans. The property features a mix of renovated, partially upgraded and original-condition units. Amenities include a pool, soccer field, playground, leasing office, fitness center, outdoor grilling area, clubhouse, laundry facilities and gated access.

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Rise48 Equity Acquires 108-Unit Multifamily Property in North Phoenix

Amy Works — Mon, 29 Jun 2026 13:47:27 +0000

PHOENIX — Rise48 Equity has acquired a 108-unit multifamily property located at 17840 N. Black Canyon Highway in North Phoenix. The company will rebrand the asset as Rise at the Northern. Terms of the transaction were not released. Rise48 plans to implement a light value-add renovation strategy to the property, which was originally built in 1983. The improvement program includes the implementation of a bulk cable program, valet trash service, installation of carport parking and operational efficiencies across property management. The initiatives are projected to increase rents by approximately $89 per unit though a combined amenity free, while maintaining affordability relative to the surrounding market, according to Rise48.

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NexMetro Opens 108-Unit Avilla Foothills Build-to-Rent Project in Metro Phoenix

Amy Works — Mon, 29 Jun 2026 13:45:15 +0000

SURPRISE, ARIZ. — NexMetro Communities has opened Avilla Foothills, a build-to-rent (BTR) development in Surprise, about 28 miles northwest of Phoenix. Avilla Foothills features 108 single-level homes, some with optional garages. Community amenities include a resort-style pool and hot tub, outdoor kitchen and grills, landscaped open spaces, covered parking, 24-hour maintenance team and pet parks.

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Great Expectations Receives Construction Financing for 102-Unit Affordable Housing Project in Puyallup, Washington

Amy Works — Mon, 29 Jun 2026 13:43:00 +0000

PUYALLUP, WASH. — Great Expectations, a Seattle-based affordable housing developer, has received an undisclosed amount of construction financing for Addison Grove, a 102-unit affordable housing project in Puyallup, 36 miles south of Seattle. According to the Washington State Housing Finance Commission, the project cost is approximately $34.2 million. Great Expectations acquired the site in April, but a construction timeline for the development has not be released. All units will be rent restricted for residents earning between 50 and 80 percent of area median income, guaranteed for 60 years. Addison Grove was financed without tax credits, instead leveraging a subordinate loan from the Washington Family Housing Fund and recycled tax-exempt bonds. The structure preserves affordability by pairing 60-year income restrictions with lower-cost tax-exempt debt and forgivable subordinate capital, reducing the amount of conventional debt the property must support through rent revenue. CBRE and Heritage Bank are permanent lenders.

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Walker & Dunlop Arranges $46M Loan for Refinancing of Retail Center in Rosemead, California

Amy Works — Fri, 26 Jun 2026 14:02:27 +0000

ROSEMEAD, CALIF. — Walker & Dunlop has arranged a $46 million loan for refinancing for a retail center in the Southern California city of Rosemead. Trevor Fase and Lynn Pearson of Walker & Dunlop Capital Markets Real Estate Finance team secured the fixed-rate, interest-only permanent debt loan. Joel Minugh and James Ko of Wells Fargo provided the loan for the borrower, a family office. Located on Rosemead Boulevard, Rosemead Place features 336,718 square feet of retail space. Current tenants include Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty and Dollar Tree.

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SunCap Property, Inclenberg Investments Break Ground on Final Building at Gilbert Spectrum Business Park in Arizona

Amy Works — Fri, 26 Jun 2026 13:58:15 +0000

GILBERT, ARIZ. — SunCap Property Group and Inclenberg Investments have broken ground on the final building at Gilbert Spectrum Business Park, an eight-building master-planned development a decade in the making. Slated for completion in second quarter 2027, the building will feature 101,000 square feet of speculative industrial space. Graycor is serving as general contractor for the building, with Lee & Associates Arizona handling leasing efforts for for the property. The project team includes Balmer Architectural Group and Bowman as civil engineer.

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Stos Partners Buys Industrial Building in Tempe, Arizona for $5.7M

Amy Works — Fri, 26 Jun 2026 13:57:53 +0000

TEMPE, ARIZ. — Stos Partners has bought an industrial warehouse, located at 525 S. McClintock Drive in Tempe, from a private owner for $5.7 million. Situated on 2.6 acres, the property offers 40,023 square feet of industrial space. Built in 1975, the building features 14-foot clear heights, six grade-level loading doors, approximately 6,000 square feet of office space, HVAC throughout the warehouse and offices areas and more than 1,000 amps of power. Originally developed as a six-tenant industrial building, the property was most recently occupied by a single user. Stos Partners plans to implement a comprehensive renovation program to transform the Class B asset into a modern multi-tenant industrial facility designed to serve a range of small-bay warehouse users. Upon completion of renovations, the building will offer five to six suites ranging from 5,000 square feet to 12,500 square feet. Planned improvements will include construction of new speculative office space, reconfiguration of the warehouse into multiple tenant suites, upgrades to the parking lot, building façade and landscaping, warehouse enhancements, installations of new white scrim, HVAC replacements, roof resurfacing and new property signage. Jack Tate and Payton Kruidenier of Ross Brown Partners represented the buyer and seller in the transaction.

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C&C Development, Riverside Charitable Corp. Open 60-Unit Affordable Housing Community in Irvine, California

Amy Works — Fri, 26 Jun 2026 13:49:18 +0000

IRVINE, CALIF. — C&C Development, in partnership with Riverside Charitable Corp., has opened Cartwright Family Apartments, an affordable housing community in Irvine. Situated on 1.6 acres at 17861 Cartwright Road, the property features 60 apartments for households earning between 30 and 80 percent of the Orange County, Calif., area median income, with a portion of the units designated for veterans. Additionally, Cartwright Family Apartments includes a leasing presence for current Irvine residents or persons employed by the city. Designed by KTGY, Cartwright Family Apartments consists of four single-story residential buildings with 15 one-bedroom, 17 two-bedroom and 28 three-bedroom units with private balconies. Community amenities include a courtyard with pool, barbecue pavilion, tot lot, bike storage, community room with a kitchen, computer room, laundry room, leasing office and a supportive services manager office. At its opening, the property was 100 percent leased.

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Las Vegas’ Retail Market Holds Firm as Growth Moderates

John Nelson — Fri, 26 Jun 2026 12:00:00 +0000

— By Hillary Steinberg of Avison Young — The Las Vegas retail market delivered a mixed but resilient performance in 2025, with vacancy remaining tight and demand holding steady. Vacancy closed the year at 5.6 percent with nearly 5.6 million square feet of available space. While these fundamentals reflect a healthy market, rent growth softened, increasing by just 2.4 percent year over year. At the same time, development activity remains robust, with roughly 880,000 square feet of retail space currently under construction. New projects continue to emphasize mixed-use and experiential concepts, positioning the market to capture sidelined capital and evolving consumer demand in the year ahead. Vacancy held steady at 5.6 percent in fourth-quarter 2025, supported by sustained population growth, a continued rebound in tourism and stable consumer spending. This momentum is being reinforced by Las Vegas’ economic diversification, which continues to fuel expansion across food, wellness and entertainment retail segments. Although rent growth has moderated from its 2022 peak, leasing fundamentals remain strong. Limited availability continues to favor landlords, who are maintaining pricing power and offering minimal concessions. However, rising construction and tenant improvement costs are placing upward pressure on deal economics. With inventory across Las Vegas, North Las…

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Walker & Dunlop Arranges $128M Loan for Refinancing of Four-Property Multifamily Portfolio in Eugene, Oregon

Amy Works — Thu, 25 Jun 2026 13:27:03 +0000

EUGENE, ORE. — Walker & Dunlop has arranged $128.2 million loan for the refinancing of a four-property multifamily portfolio in Eugene. Steven Natale of Walker & Dunlop Capital Markets Real Estate Finance secured the financing on behalf of an undisclosed local client. Utilizing Fannie Mae’s Streamline Early Rate Lock program, the four loans were rate locked only 25 days after receipt of a signed application. Totaling 986 units, the portfolio includes the 280-unit River Terrace, the 254-unit Parkside, the 252-unit The Bailey at Amazon Creek and the 200-unit Crescent Park.

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Mesa West Capital Funds $82.5M Loan for Refinancing of Apartment Community in Everett, Washington

Amy Works — Thu, 25 Jun 2026 13:23:34 +0000

EVERETT, WASH. — Mesa West Capital has funded an $82.5 million first mortgage loan to a joint venture between Harrison Street Asset Management and Security Properties to refinance Olin Fields, a garden-style multifamily property in Everett. Josh Westerberg and JJ McMahon of Mesa West Capital led the transaction for Mesa West. Jesse Weber, Scott Williams and Kevin Coyle of CBRE’s San Francisco office arranged the five-year, nonrecourse financing for the borrower. Built on 16 acres, Olin Fields features 352 one-, two- and three-bedroom apartments spread across 21 residential buildings. Units feature in-unit washers and dryers, stainless steel appliances, digital thermostats, quartz countertops, wood burning fireplaces and private patios in select units. Community amenities include a fitness center, indoor basketball court, indoor and outdoor pools, outdoor lounge with fire pits and barbecue stations, a dog park, playground and 24-hour package lockers. Since acquiring the asset in 2022, the sponsor has invested in exterior improvements and renovations to 76 units. A portion of the loan proceeds will be used to complete the remaining interior upgrades.

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Dwight Capital Provides $39M HUD Loan for Apartment Complex in Oregon City, Oregon

Amy Works — Thu, 25 Jun 2026 13:22:22 +0000

OREGON CITY, ORE. — Dwight Capital, on behalf of Pahlisch Commercial, has provided a $39 million HUD loan for the refinancing of Timberview Apartments in Oregon City. Andrew Tichy led the transaction for Dwight Capital, which McBride Capital arranging the debt. Loan proceeds, which were secured through HUD’s 223(f) program, will be used to retire a bridge loan provided by Dwight Mortgage Trust, cover closing costs and establish a replacement reserve account for future capital improvements. Situated on 7 acres, Timberview Apartments features 174 units. The community consists of three buildings with 141 single-story units and seven buildings with 33 townhome units and attached single-car garages. Units feature stainless steel appliances, quartz countertops, full-size washers and dryers and private patios or balconies. Onsite amenities include a single-story clubhouse with a leasing office, six detached garage buildings, pool with a sundeck, fitness center, resident lounge with a fireplace, bike repair and wash station, dog wash and a playground.

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CBRE Negotiates $14.5M Sale of Industrial Property in San Marcos, California

Amy Works — Thu, 25 Jun 2026 12:37:58 +0000

SAN MARCOS, CALIF. — CBRE has negotiated the $14.5 million sale of an industrial property located in the Southern California city of San Marcos. An entity doing business as La Costa Meadows LLC sold the asset, located at 1755 La Costa Meadows Drive, to a private, 1031 exchange investor. Matt Pourcho, Anthony DeLorenzo and Rob Gunness of CBRE represented the seller in the transaction., while Michael Albert of Pacifica Capital and Kelly Betpolice of Kidder Mathews represented the buyer. Fluid Components International (FCI) fully occupies the 66,976-square-foot property. The company utilizes the property as its primary U.S. manufacturing facility and has occupied the asset since its construction in 1981.

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CBRE Brokers $13.5M Sale of Multi-Tenant Industrial Park in Temecula, California

Amy Works — Wed, 24 Jun 2026 13:26:28 +0000

TEMECULA, CALIF. — CBRE has brokered the $13.5 million sale of a three-building industrial park located at 40880, 40935 and 40945 County Center Drive in Temecula. Jewell Capital LLC acquired the property from South La Brea LCC. Totaling 68,073 square feet, the park consists of three single-story buildings across two separate parcels. At the time of sale, the asset was 97.4 percent leased to multiple tenants with an average tenant size of approximately 3,012 square feet and “ample” grade-level parking. Matt Pourcho, Matt Harris and Anthony DeLorenzo of CBRE represented the seller in the transaction.

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Knightbridge Capital, Argosy Real Estate Buy Two-Building Office Portfolio in Englewood, Colorado

Amy Works — Wed, 24 Jun 2026 13:26:02 +0000

ENGLEWOOD, COLO. — Knightbridge Capital and Argosy Real Estate Partners have purchased Three Maroon and Maroon Five, a two-building office portfolio situated within Meridian International Business Center in Englewood. Mark IV Capital sold the asset for an undisclosed price. The 174,850-square-foot portfolio was 88 percent occupied at closing, with a weighted average lease term of approximately 4.4 years. Aaron Johnson and Jon Hendrickson of Cushman & Wakefield represented the seller in the deal. Aimee Love, Zac Clark and Joe Petty of First Interstate Bank provided acquisition financing for the transaction. Cole Taylor handled property management for the asset.

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Mosaic Industrial Acquires 37,318 SF Alcalde Business Center in Laguna Hills, California

Amy Works — Wed, 24 Jun 2026 13:25:24 +0000

LAGUNA HILLS, CALIF. — Mosaic Industrial has acquired Alcalde Business Center, a 37,318-square-foot industrial park located in Southern California in Laguna Hills. Terms of the transaction were not released. Jeff Carr, Anthony DeLorenzo and Mark Shaffer of CBRE represented the buyer and undisclosed seller in the deal. At the time of sale, the three-building Alcalde Business Center was 94 percent leased to multiple tenants. The buyer plans to reposition the park to serve continued demand from the small-bay industrial users in South Orange County, Calif.

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