Western

MLG Capital Acquires 240-Unit Wellington Apartments in Silverdale, Washington

by Amy Works July 18, 2025

SILVERDALE, WASH. — MLG Capital has entered the Washington market with the acquisition Wellington Apartment Homes, a multifamily property in Silverdale, located approximately 30 miles west of Seattle. Terms of the transaction were not disclosed. The garden-style property features 240 apartments, bayside views, a heated pool, clubhouse, fitness center and dog park. MLG plans to implement interior and exterior renovations, including installing stainless steel appliances, granite countertops and other premium features in all units, as well as improving property curb appeal and enhancing community amenities.

July 18, 2025

Colorado Development Multifamily Western

Grovewood Community Development Opens 81-Unit Affordable Housing Project in Aurora, Colorado

by Amy Works July 18, 2025

AURORA, COLO. — Grovewood Community Development has opened Sapling Grove Apartments, a mixed-income affordable housing property located at 10151 E. Jewell Ave. in Aurora. At full build-out, the two-phase Sapling Grove will offer more than 130 apartments. The 86,553-square-foot first phase features 81 one-, two- and three-bedroom floor plans with energy-efficient appliances, air conditioning, in-unit washers/dryers, walk-in closets and paid utilities. Community amenities include a fitness center, outdoor community gathering spaces with a large, covered picnic area, a playground, public art installations, a furnished rooftop patio, walking trails and an open space with native landscaping. Additionally, the community has a dedicated public space that will provide the greater community access to resources for health and wellness through an onsite Community Resource Center. The second phase will include 50 seniors housing units. Project funding was provided by 22 funding sources, including the City of Aurora, Arapahoe County, the Colorado Division of Housing, the Colorado Housing and Finance Authority, Impact Development Fund, Grow America, Sugar Creek Capital and the Aurora Housing Authority. A significant grant from the Colorado Health Foundation helped fund the property’s outdoor recreation spaces and onsite wellness initiatives.

July 18, 2025

Arizona Development Industrial Self-Storage Western

Garrett Development, Willmeng Break Ground on Self-Storage Facility in Peoria, Arizona

by Amy Works July 18, 2025

PEORIA, ARIZ. — Garrett Development Corp. (GDC), with Willmeng Construction as general contractor, has broken ground on a 110,136-square-foot self-storage facility at 24027 N. Lake Pleasant Parkway in Peoria. Designed by RKAA Architects, the facility will feature 1,129 square feet of office space, 53,939 square feet of storage on the first floor and 55,068 square feet of storage on the basement level. Construction is slated for completion in June 2026, with the facility scheduled to open by third-quarter 2026.

July 18, 2025

Loans Retail Utah Western

Calmwater Capital Provides $22.8M Refinancing for Retail Center in Park City, Utah

by Amy Works July 18, 2025

PARK CITY, UTAH — El Segundo, Calif.-based Calmwater Capital has provided a $22.8 million bridge loan to refinance Kimball on Main Street, a 25,429-square-foot retail center located within the Historic Old Town area of downtown Park City. Stanton Road Capital was the borrower, while DaJuan Bennett of Calmwater internally represented the firm. Originally built in 1990 and renovated in 2018, the property features seven storefronts, a second-floor event space that serves the Sundance Film Festival and a recently constructed three-story building. Kimball on Main Street is currently 83 percent leased and comprises a mix of tenants such as Arhaus, Free People, Sunglass Hut, Romy Park City, We Norwegians and The Collective. Stanton Road Capital acquired the property in 2022.

July 18, 2025

California Loans Multifamily Walker & Dunlop Western

Walker & Dunlop Secures $91.4M Refinancing for Blue Rock Village Apartment Property in Vallejo, California

by Amy Works July 17, 2025

VALLEJO, CALIF. — Walker & Dunlop has arranged $91.4 million in loan proceeds for the refinancing of Blue Rock Village, a Class B apartment property located at 2000 Ascot Parkway in Vallejo. Bryan Frazier and Blake Hockenbury of Walker & Dunlop Multifamily Finance secured a 10-year, full-term interest-only loan at a fixed rate from Freddie Mac for the borrower, Prime Residential. Situated on 35.7 acres, Blue Rock Village features 41 buildings, including 38 garden-style residential buildings offering a total of 560 units, as well as a leasing office, fitness center and maintenance building. Additional amenities include a spa, swimming pools and dog parks.

July 17, 2025

Colorado Development Multifamily Western

Formativ Completes First Multifamily Community in Downtown Colorado Springs

by Amy Works July 17, 2025

COLORADO SPRINGS, COLO. — Formativ Real Estate Group has opened The Hunter, its first apartment property in Colorado Springs located at 225 E. Cimarron St. Project partners include Bryan Construction, Griffis/Blessing and Davis Partnership Architects. Located in the New South End neighborhood, The Hunter features 214 studio, one- and two-bedroom apartments, as well as eight townhomes. Community amenities include a year-round pool and deck, outdoor dining and grill stations, fire pits, poolside cabanas and a recreation area. The Hunter’s two-level clubhouse features an oversized kitchen, private dining room, sunset lounge and game room. Additional amenities include dedicated coworking spaces and technology-enhanced Zoom rooms and a fitness center with a movement studio for individual and mat-based workouts.

July 17, 2025

Affordable Housing Development Hawaii Multifamily Seniors Housing Western

EAH Housing Opens 140-Unit Aloha lā Halewilikō Affordable Seniors Housing Property in Hawaii

by Amy Works July 17, 2025

‘AIEA, HAWAII — EAH Housing has started leasing at Aloha lā Halewilikō, a $62 million affordable rental community for older adults in ‘Aiea. Located at the former site of the ‘Aiea Sugar Mill at 99-385 Pōhai Place, Aloha lā Halewilikō offers 83 studio apartments, 56 one-bedroom apartments and a manager’s unit. The rents are set at affordable rates for households earning 30 percent, 50 percent and 60 percent of the area median income. The community features a multipurpose room, walking paths, fitness facilities, community gardens and digital literacy programs. Lanakila Pacific, a local nonprofit partner, will provide onsite services, including Meals on Wheels and wellness programming to support aging in place.

July 17, 2025

Acquisitions California Industrial Self-Storage Western

SecureSpace Self Storage Buys 650-Unit Facility in Fremont, California

by Amy Works July 17, 2025

FREMONT, CALIF. — SecureSpace Self Storage has acquired a 58,713-square-foot self-storage facility, currently managed by Extra Space, in Fremont, from Braintree Group. Dean Trammell and Adam Schlosser of the LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in the transaction. Tony Solomon of Marcus & Millichap served as the broker of record for the deal. Built in 1984 and expanded in 2002, the facility contains five two-story self-storage buildings and five single-story self-storage buildings offering a total of 650 units. The property includes electronic gated entry with a digital keypad, a spacious leasing office with retail and security monitor display, 24/7 video surveillance, concrete driveways and two lifts providing access to upper-level units.

July 17, 2025

Acquisitions Office Oregon Western

Norris & Stevens Arranges $5.7M Sale of Capitol Park Office Building in Portland

by Amy Works July 17, 2025

PORTLAND, ORE. — Norris & Stevens has arranged the acquisition of Capitol Park, an office property located at 9700 S.W. Capitol Highway in Portland. 9700 SW Capitol LLC purchased the building from an undisclosed seller for $5.7 million. Constructed in 1983 and renovated in 1993, the two-story, 29,000-square-foot building features a recently remodeled lobby and bathrooms, a new roof and an outdoor dining area for tenants. Raymond Duchek and Thomas McDowell of Portland-based Norris & Stevens represented the buyer, while Steve Bowers and Sean McCarthy of Kidder Mathews represented the seller in the deal.

July 17, 2025

Acquisitions California Multifamily Seniors Housing Western

Meta Housing Corp. Sells Coventry Court Seniors Housing Community in Tustin, California for $83M

by Amy Works July 16, 2025

TUSTIN, CALIF. — Los Angeles-based Meta Housing Corp. has completed the sale of Coventry Court, a mixed-income seniors housing property in Tustin, to Jonathan Rose Cos. for $83 million. Completed in 2012, Coventry Court offers 240 market-rate and income-restricted apartments for residents age 55 or older. Of the 240 units, 153 are designated as affordable at 50, 60 and 110 percent of area median income (AMI), qualifying the property for a 40 percent tax abatement. The remaining 87 units are rented at market rates. Jim Fisher, Vince Norris, Mike Smith and Tommy Yates of Northmarq represented the seller in the deal.

July 16, 2025

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