LOS ANGELES — Mesa West Capital has provided a joint venture between Interstate Equities Corp. and PGIM with a $201.5 million loan package for the previously announced acquisition of the mResidences Portfolio. The four properties, located in Mountain View, Redwood City and Sunnyvale, Calif., and Seattle, offer a total of 564 units. Eastdil Secured arranged the financing.
ARCADIA, CALIF. — O&I Development, with R.D. Olson Construction as general contractor, has broken ground on The Ivy Arcadia, a seniors housing property in Arcadia within San Gabriel Valley. The three-story, $33 million project will feature 100 assisted living and memory care apartments. Completion is slated for fall 2027. The property will offer comprehensive fire and life safety systems, including advanced alarms, sprinklers and rated corridors; backup power and medical gas provisions to ensure uninterrupted care; and a secure outdoor area designed for safe, independent mobility. Community amenities will include a fitness center and specialized treatment rooms for memory core and mobility support; sensory-friendly design featuring distinct colors and intuitive wayfinding to reduce confusion; multiple communal spaces, including dining areas, a reading room, bar and lounge and salon; open-air patios and secure walking paths to promote healthy habits; and 70 parking spaces to accommodate family visits and staff. The project team includes b.hills architecture and STUDIOSIX5.
RANCHO PALOS VERDES, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $24.5 million sale of Western Plaza, a 28,190-square-foot neighborhood retail center located in Rancho Palos Verdes. Jeff Lefko of Hanley Investment Group represented the seller, West Hive Capital, in the transaction. Sheila Alimadadian of Marcus & Millichap represented the buyer, Aria Investments. After acquiring Western Plaza in 2024 for $8 million, West Hive Capital completed a full-scale redevelopment of the property. Renovations featured a complete exterior façade modernization, upgraded building systems, parking lot enhancements, an improved tenant mix and the addition of a 4,000-square-foot outdoor dining plaza. Current retailers and restaurants at the center include O’Reilly Auto Parts, The Habit Burger Grill, Urbane Café, Mattress Firm, Pacific Dental, Piccinni Italian, Alibaba Mediterranean, Pure Bean Coffee and Koi Ramen.
MEDFORD, ORE. — LRE & Co has announced plans to develop a 10,000-square-foot commercial project in Medford. Located along Crater Lake Highway (Highway 62) in the Tower Business Park, the project will offer 10,000 square feet of commercial space, including a 4,000-square-foot quick-service restaurant with a drive-thru and a 6,000-square-foot multi-tenant retail building with a drive-thru. The property will also include approximately 98 parking spaces. LRE & Co is currently working through the city’s entitlement process, including site plan review with the Medford site plan and architectural commission. Tenant announcements and construction timelines will be released as the project advances through the city’s approval process.
QUEEN CREEK, ARIZ. — Vestar, a privately held shopping center developer and manager based in Phoenix, has announced the completion of Vineyard Towne Center, a 260,000-square-foot retail development located in Queen Creek, approximately 45 miles southeast of Phoenix. Following the 2021 groundbreaking, the $100 million development is now fully leased. “This center has seen incredible leasing momentum, and the strong response from both tenants and residents underscores the demand for high-quality destinations that blend convenience, variety and an elevated sense of place,” says Jeffrey Axtell, executive vice president of development at Vestar. Situated at the corner of Gantzel and Combs roads, Vineyard Towne Center is anchored by a 145,000-square-foot Target, which opened in October 2025. The tenant roster also includes Sprouts Farmers Market, Mountain America Credit Union, Academy Bank, LifeQuest, Cadence Running Company, Mattress Firm, Zara Nail Bar, Dentists of Queen Creek, Keep It Cut, European Wax Center, Crown One Beauty Supply, Five Guys, Better Buzz Coffee, Thai Chili 2Go, McDonald’s, Over Easy, Café Rio, Cinnaholic, Zaxby’s, Nekter Juice Bar, Mr. Pickle’s Sandwich Shop, Wingstop and Ono Hawaiian BBQ. Additional retailers, such as Verizon Wireless and My Dr. Now, have recently opened at the open-air center, with Pet Supplies Plus slated to …
MISSION VIEJO, CALIF. — Orange County-based DJM has sold Gateway Shopping Center, a 79,001-square-foot shopping center located in Mission Viejo. An institutional buyer purchased the property for $51 million. JLL represented DJM in the all-cash transaction. Completed in 1979 on 7.4 acres, Gateway Shopping Center features a mix of tenants including Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase, among others. The center was 97 percent leased at the time of sale. DJM acquired Gateway Center in December 2021 from Gerrity Group for $39.5 million. Following the acquisition, DJM completed a repositioning strategy that featured new leases with Pacific Dental and several restaurant and fitness tenants, as well as enhanced landscaping, refreshed paint and the addition of a weekly farmers market.
FEDERAL WAY, WASH. — Lument has provided a $21.5 million loan for the refinancing of a seniors housing community located in Federal Way, roughly 25 miles south of Seattle. Village Green of Federal Way totals 170 units, with 136 assisted living units and 34 independent living cottages. Casey Moore of Lument arranged the HUD/FHA Section 232/223(f) loan on behalf of the borrower, a family-owned company. The loan features a fixed interest rate and 35-year term.
FREMONT, CALIF. — Asian supermarket chain H Mart will open a 100,000-square-foot flagship store at Pacific Commons Shopping Center, a 1.1 million-square-foot super-regional power center located on the southeastern shore of San Francisco Bay in Fremont. The new store will introduce H Mart’s multi-level prototype, which will include a food hall with fast-casual eateries, full-service dine-in restaurants, a bar and entertainment offerings. Construction on the development is expected to begin in late 2026. Owned by Heitman and managed by Vestar, Pacific Commons Shopping Center is home to more than 55 retailers and restaurants such as Target, T.J. Maxx, Costco, Nordstrom Rack and Sephora.
SANTA BARBARA, CALIF. — PSRS has arranged $9.2 million in refinancing for The Julia, a historic office building located at 924 Anacapa St. in Santa Barbara. Designed by famed architect Julia Morgan in 1926 initially as a women’s hotel, the 40,000-square-foot property was converted to office use in the 1970s. Seth Ludwick and Thomas Rudinsky of PSRS secured the loan, which features a 25-year amortizing term with rate resets every five years, through one of PSRS’ correspondent life insurance companies.
SAN MATEO, CALIF. — Berkadia has brokered the sale of Atria Park of San Mateo, a 135-unit assisted living and memory care community located in San Mateo on the western shores of San Francisco Bay. A partnership between Shelter Real Estate Investment Properties and Calson Management acquired the property for an undisclosed price. The community will be rebranded as Harbor at Hillsdale. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia arranged the transaction on behalf of the undisclosed seller.