Western Archives - REBusinessOnline

Diversified Partners Acquires Site for 100,000 SF Mixed-Use Project in Scottsdale, Arizona

Amy Works — Tue, 09 Jun 2026 13:14:26 +0000

SCOTTSDALE, ARIZ. — Diversified Partners has closed on a waterfront property in Scottsdale that will become The Lakefront at Scottsdale, a mixed-use redevelopment. The project will revitalize a landmark waterfront site in Scottsdale, transforming a long-established location into a destination for dining, retail and gathering spaces. The 100,000-square-foot property will be redeveloped in phases offering restaurant, retail and office space centered around walkability, gathering spaces and waterfront activation. Originally developed in 1978, the redevelopment will preserve elements of the property’s longstanding architectural character while modernizing the site to serve the needs of the Scottsdale community. The Lakefront at Scottsdale will feature signature restaurants with outdoor dining overlooking the lake, boutique and experiential retail concepts, luxury wellness and lifestyle tenants and Class A office space with waterfront views, as well as a small marina with Duffy boat rentals. Construction is slated to start in third-quarter 2026 with the first phase focused on demolition and development of the restaurant and retail components. The second phase scheduled to begin in early 2027 and focus on the redevelopment of the remaining retail and office portions.

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Bluhm Family Foundation Breaks Ground on 214-Unit Seniors Housing Community in Huntington Beach, California

Amy Works — Tue, 09 Jun 2026 13:13:18 +0000

HUNTINGTON BEACH, CALIF. — The Bluhm Family Foundation has broken ground on The Marisol, a 214-unit luxury seniors housing project located in Huntington Beach in Southern California. In May, the developer received $252.1 million in bond financing for the project. Upon completion, the community will feature a mix of studio, one- and two-bedroom apartments. Amenities will include a coffee and snack bar, community store, wellness lounge, pool, spa, beauty salon, golf simulator, gym, art studio, craft studio, community room and three courtyards. The opening is scheduled for 2028. Momentum Senior Living will manage the community.

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JLL Capital Markets Brokers $31.5M Sale of Grocery-Anchored Neighborhood Center in El Cajon, California

Amy Works — Tue, 09 Jun 2026 13:13:00 +0000

EL CAJON, CALIF. — JLL Capital Markets has brokered the $31.5 million sale of The Shops at Parkway Plaza, a grocery-anchored retail center in El Cajon. A private seller sold the asset to a Texas-based family office. Located at 149 Fletcher Parkway, The Shops at Parkway Plaza features 122,484 square feet of retail space. Current tenants include Best Buy, HomeGoods, Aldi, Texas Roadhouse and Applebee’s Grill + Bar. Daniel Tyner, Geoff Tranchina and Gleb Lvovich of JLL Capital Markets’ Investment Sales and Advisory team represented the seller in the deal.

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Hanley Investment Group Negotiates $5M Sale of Single-Tenant Retail Property In Clovis, California

Amy Works — Tue, 09 Jun 2026 13:11:16 +0000

CLOVIS, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $5 million sale of a 2,047-square-foot, single-tenant retail property located roughly eight miles west of Fresno in Clovis. A 7-Eleven convenience store and fuel station occupies the property, which was originally built in 1991 and renovated in 2019. Jacob Fahner and Jeremy McChesney represented the seller, a Los Angeles–based private investor, in the transaction. Jeffrey Leggio of ASU Commercial represented the buyer, a Bakersfield, California-based 1031 exchange investor.

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IPA Capital Markets Arranges $123M in Financing for Multifamily Property in Burlingame, California

Amy Works — Mon, 08 Jun 2026 13:24:01 +0000

BURLINGAME, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $123 million in debt financing for Anson, a multifamily property in Burlingame. Situated less than four miles from San Francisco International Airport, the property features 268 one-, two- and three-bedroom floor plans with in-unit laundry facilities, stainless steel appliances and private patios or balconies. Community amenities include two courtyards with barbecue grills and hammocks, a fitness center, clubhouse, resort-style pool, pet spa and a coworking lounge. The loan features a interest rate of 5.09 percent, a DSCR of 1.10x and interest-only payments for the term. The financing structure also included $26 million in preferred equity from Tokyu Land US Corp. Brian Eisendrath, Cameron Chalfant, Anita Paryani-Rice and Jesse Zarouk of IPA Capital Markets in Los Angeles secured a five-year loan on behalf of a national multifamily owner, operator and investment firm.

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Newmark Negotiates Sale of 11-Building Industrial Portfolio in San Francisco’s East Bay Area

Amy Works — Mon, 08 Jun 2026 13:22:32 +0000

DUBLIN, CALIF. — Newmark has arranged the sale of Sierra Trinity, a shallow-bay industrial portfolio located at 6701 Sierra Court in Dublin, located in the San Francisco East Bay area. Terms of the transaction were not released. Sierra Trinity features 11 buildings that were 97 percent leased at the time of sale to nearly 40 tenants across a variety of industries. Steven Golubchik, Edmund Najera, Darren Hollak and Brendan Raney of Newmark represented the undisclosed seller and buyer in the deal.

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HVPG Acquires Affordable Housing Community in Elk Grove, California, for $83.6M

Amy Works — Mon, 08 Jun 2026 13:21:18 +0000

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, located south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 percent of units are further supported by tenant-based vouchers, and income restrictions span from 30 to 80 percent of area median income. The acquisition was financed through three Freddie Mac loans originated by Greystone, with tax credit equity provided by Red Stone Equity Partners, and public finance support facilitated by the California Municipal Finance Authority and the City of Elk Grove. Programming, including after-school services and adult education, will be provided by nonprofit partner Pacific Housing.

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Marcus & Millichap Brokers $47M Sale of Multifamily Property in Los Angeles

Amy Works — Mon, 08 Jun 2026 13:18:00 +0000

LOS ANGELES — Marcus & Millichap has brokered the sale of The Versailles Apartments, a five-story multifamily property located at 8811 Burton Way in Los Angeles. The asset traded for $47 million, or $602,564 per unit. Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed, in the transaction. Constructed in 1989, The Versailles Apartments features 78 residences, a rooftop pool and deck, a fitness center, laundry facilities on every floor and two levels of subterranean parking. Apartments include hardwood floors, granite countertops, stainless steel appliances and dishwashers, while select units have washers and dryers.

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Peachtree Group Opens 220-Key Marriott-Branded Hotel in Palmdale, California

Amy Works — Fri, 05 Jun 2026 13:28:58 +0000

PALMDALE, CALIF. — Atlanta-based developer Peachtree Group has opened the 220-key TownePlace Suites by Marriott Palmdale hotel. Located at 39330 Trade Center Drive, the hotel’s suites feature fully equipped kitchens, complimentary Wi-Fi and workspaces. Onsite amenities include complimentary hot breakfast, 24-hour fitness center, outdoor pool, pet-friendly suites, free parking and Marriott Bonvoy digital check-in. Peachtree Group’s hospitality management division will operate the hotel, which is one of the firm’s early EB-5 developments and previously received I-956F approval from U.S. Citizenship & Immigration Services. The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the United States.

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Levin Johnston Negotiates $23.7M Sale of Medical Office Property in Rohnert Park, California

Amy Works — Fri, 05 Jun 2026 13:27:36 +0000

ROHNERT PARK, CALIF. — Levin Johnston of Marcus & Millichap has directed the sale of a 67,584-square-foot medical office property located at 5900 State Farm Drive in Rohnert Park. A private family ownership group acquired the asset from an undisclosed seller for $23.7 million. Kaiser Permanente and Petaluma Health Center anchor the two-story property. Robert Johnston, Adam Levin and Justin Fink of Levin Johnston of Marcus & Millichap represented the seller and procured the buyer in the deal.

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CBRE Arranges Sale of 59.7-Acre Industrial Development Site in Pocatello, Idaho

Amy Works — Fri, 05 Jun 2026 13:26:00 +0000

POCATELLO, IDAHO — CBRE has arranged the sale of a 59.7-acre industrial development site located at 1800 River Park Way in Pocatello on behalf of developer Portneuf Capital. Lex Development acquired the site for an undisclosed price. The property consists of two industrial-zoned parcels that currently contain 45,904 square feet of office space and 113,048 square feet of warehouse space. Formerly a Hoku Materials manufacturing site, the property has undergone entitlement and planning work under current ownership and is positioned for future business park or owner-user development. The site is participating in a brownfield development program, with a Phase I environmental assessment completed and no further action required. Kurt Gregg, Tim Reid and Montana Carranza of CBRE represented the seller in the transaction.

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Marcus & Millichap Brokers $4.4M Acquisition of Single-Tenant Retail Property in Phoenix

Amy Works — Fri, 05 Jun 2026 13:25:00 +0000

PHOENIX — Marcus & Millichap has arranged the $4.4 million purchase of a single-tenant retail property located at 2975 W. Dove Valley Road in Phoenix. An Arizona-based limited liability company acquired the asset from an undisclosed seller. Chipotle occupies the 2,458-square-foot restaurant building, which was built in 2025. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap represented the buyer in the off-market transaction.

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Zilber Residential Group, Homes by Towne Complete 209-Unit Multifamily Community in Roseville, California

Amy Works — Thu, 04 Jun 2026 13:33:00 +0000

ROSEVILLE, CALIF. — Affiliates of Zilber Residential Group and Homes by Towne have completed Estia Roseville, a 209-unit multifamily community located in the greater Sacramento area. Located at 6350 Baseline Road, Estia Roseville consists of one- and two-bedroom and cottage-style apartments ranging in size from 709 to 1,083 square feet. Units feature private entrances, 10-foot ceilings, walk-in closets, individual washers and dryers, stainless steel appliances and private, fenced-in backyards with built-in doggie doors. Community amenities include a dog park, pet spa, swimming pool, 24-hour fitness center and a dedicated yoga studio.

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Colliers Brokers $16.6M Sale of Affordable Housing Complex in West Los Angeles

Amy Works — Thu, 04 Jun 2026 13:31:27 +0000

LOS ANGELES — Colliers has brokered the sale of 11418 Missouri Avenue, a 44-unit affordable multifamily property located in the Sawtelle neighborhood of West Los Angeles. Generation Real Estate Partners and Eris Development sold the asset to an undisclosed buyer for $16.6 million, or $718 per square foot. Kitty Wallace and Andrew Eberhard of Colliers represented the sellers in the deal. Completed in 2025, the four-story property features a rooftop amenity space, solar panels, onsite laundry facilities, fitness amenities and bicycle storage. The project was one of the first developments under Executive Directive 1, a program introduced in December 2022 to accelerate the production of 100 percent affordable housing.

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Faris Lee Arranges $10M Sale of Value-Add Retail Property in Orange, California

Amy Works — Thu, 04 Jun 2026 13:30:05 +0000

ORANGE, CALIF. — Faris Lee Investments has brokered the $10 million sale of a value-add retail property located in Orange. The asset traded for $209 per square foot. Nike Miller of Faris Lee Investments represented the seller and buyer in the transaction. The property was held by the same ownership family since 1964. The name of the buyer was not disclosed.

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CBRE Negotiates $7.3M Sale of Boutique Hotel in San Francisco

Amy Works — Thu, 04 Jun 2026 13:29:07 +0000

SAN FRANCISCO — CBRE has negotiated the $7.3 million sale of Sutter Mansion, a boutique hotel located at 1409 Sutter St. in San Francisco’s Japantown/Pacific Heights area. Alex Lee-Bull and Lauren Lamb of CBRE Hotels represented the seller, a partnership between Cape Town and San Francisco-based branded residential and hospitality group Neighbourgood. The buyer was confidential. Originally built in 1881 and renovated in 2019, Sutter Mansion is a Grand Victorian-style estate featuring 12 oversized guestrooms averaging 400 square feet, as well as a restaurant and bar, two commercial kitchens, event space and onsite parking.

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Pacific Urban Investors Acquires 140-Unit Multifamily Community in San Diego

Amy Works — Wed, 03 Jun 2026 13:21:49 +0000

SAN DIEGO — Palo Alto, Calif.-based Pacific Urban Investors has purchased Casas by the Sea, an oceanfront multifamily property in the Bird Rock/La Jolla neighborhood of San Diego. Terms of the transaction were not disclosed. Situated adjacent to Tourmaline Beach, Casas by the Sea features 140 studio, one-, two- and three-bedroom apartments spread across four residential buildings and two single-family homes. The property was built in 1970. Approximately 86 percent of the units offer ocean views.

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Moonwater Capital Breaks Ground on 220,000 SF Halo Tower Office Property in Southwest Las Vegas

Amy Works — Wed, 03 Jun 2026 13:20:31 +0000

LAS VEGAS — Developer Moonwater Capital has broken ground on Halo Tower, an eight-story Class A office property in southwest Las Vegas. Completion and occupancy is planned for third-quarter 2028. Situated on Sunset Road adjacent to the 215 Beltway, Halo Tower will feature 220,000 square feet of office space with 28,571-square-foot floor plates, 15- to 17-foot lobby heights and an indoor-outdoor rooftop boardroom and amenity deck with panoramic views of the Las Vegas Valley. Martin-Harris Construction is serving as general contractor for the project. Brad Peterson, Tanner Peterson, Justin Witt and Grace Ordonez of CBRE will handle marketing and leasing for the property.

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PSRS Arranges $6.8M in Construction Financing for Affordable Housing Project in North Hollywood

Amy Works — Wed, 03 Jun 2026 13:19:49 +0000

LOS ANGELES — Regional brokerage firm PSRS has arranged $6.8 million in construction financing for an affordable housing project on Ben Avenue in the North Hollywood neighborhood of Los Angeles. The property will feature 40 affordable apartments. To secure bank approval for the project’s first-time developers, PSRS reworked the ownership structure to bring in a sponsor, MOBBIL Inc., to take a nominal equity position and strengthen the track record. Michael Warner of PSRS secured the two-year, interest-only construction loan, which features a 65 percent loan-to-value ratio.

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CBRE Brokers $3.7M Sale of Multi-Tenant Retail Property in Santee, California

Amy Works — Wed, 03 Jun 2026 13:18:06 +0000

SANTEE, CALIF. — CBRE has arranged the sale of a multi-tenant retail building located at 8781 Cuyamaca St. and 9822 Buena Vista Ave. in Santee. Affiliates of Calgary Development sold the asset to Burggraf Family Trust for $3.7 million. Situated on 1.1 acres, the property features 16,390 square feet of retail space and was 90 percent leased at the time of sale. Reg Kobzi, Michael Peterson and Lane Robertson of CBRE represented the seller, while William Strocco Jr. of St. Rocco Properties represented the buyer in the deal.

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