Western

CBL Properties Acquires Four Enclosed Malls from Washington Prime Group for $178.9M

by Kristin Harlow July 30, 2025

CHATTANOOGA, TENN. — Chattanooga-based CBL Properties (NYSE: CBL) has acquired four enclosed regional malls from Washington Prime Group for $178.9 million. The properties include Ashland Town Center in Ashland, Ky.; Mesa Mall in Grand Junction, Colo.; Paddock Mall in Ocala, Fla.; and Southgate Mall in Missoula, Mont. CBL says it is focused on owning and managing successful enclosed malls in dynamic and growing middle markets. The deal suggests mall recovery extends beyond luxury properties, driven by limited retail construction since 2008, according to The Wall Street Journal. Ashland Town Center is a single-level mall that opened in 1989. Totaling more than 420,000 square feet, the property features more than 70 retailers and restaurants, including anchors JCPenney, Belk, T.J. Maxx, Ulta Beauty and Five Below. The center has undergone several renovations over the years, including a major redevelopment in the late 2000s that added a new JCPenney prototype store and updated amenities. The largest indoor shopping center in western Colorado, Mesa Mall spans roughly 733,000 square feet and is home to more than 120 stores and services. Anchor tenants include Cabela’s, Dillard’s, JCPenney, Target, HomeGoods and Dick’s Sporting Goods. Originally developed in 1980, the property has undergone several redevelopments to modernize …

July 30, 2025

California Life Sciences Market Reports Western Western Market Reports

San Diego Market Recalibration Redefines Life Sciences Sector

by John Nelson July 30, 2025

— By Chris High, Steve Bruce and Conor Evans of Colliers — We’re in the middle of a market recalibration. On the office side, leasing has slowed significantly, with tenants downsizing footprints and pushing for shorter terms as hybrid work remains a dominant driver. In life sciences, we saw explosive growth from 2020 to mid-2022, but that pace has tapered off. VC funding is more selective, and some developers who stretched to convert commodity office and flex properties into lab space, often with less-than-ideal infrastructure, during the boom years, are now rethinking those strategies. Still, demand for high-quality, fitted lab space remains, especially in well-located projects by experienced owners like Longfellow, BioScience Properties, Sterling Bay, Healthpeak, BioMed, and ARE. These firms are adapting with thoughtful repositioning and delivering product that aligns with where tenant demand is today. In the near term, we expect continued headwinds. Commodity office space will face pressure on rents and absorption, while high-end life science campuses with strong sponsorship will be better positioned to attract demand. We expect Life Science to rebound in the next 12 to 18 months as capital markets settle and merger/acquisition (M&A) activity returns. Distressed office sales may continue as debt maturities …

July 30, 2025

Acquisitions California Office Western

ParkTerra, JEN Partners Buy 306,664 SF Axis Office Campus in Anaheim, California

by Amy Works July 29, 2025

ANAHEIM, CALIF. — ParkTerra and JEN Partners have acquired Axis, an office campus in Anaheim, from a joint venture between a global banking giant and Pendulum Property Partners for $62.5 million. CBRE National Office Partners’ Anthony DeLorenzo, Sammy Cemo and Bryan Johnson represented the seller. CBRE’s Greg Sullivan, Jennifer Whittington, David Dowd and Matt Didier also advised the seller on the transaction. Axis offers 306,664 square feet of office space at 2121-2170 Towne Centre Place, 2190 Town Centre Place and 2390 Orangewood Ave. The campus offers a creative office building tailored for owner-users, a residential redevelopment site and a high-end office asset.

July 29, 2025

California Hospitality Loans Western

Mesa West Capital Provides $55M Refinancing for Burton House Beverly Hills Hotel in Los Angeles

by Amy Works July 29, 2025

LOS ANGELES — Mesa West Capital has provided an affiliate of Seaview Investors with $55 million in first mortgage debt to refinance Burton House Beverly Hills, a 186-room full-service hotel in West Los Angeles. Eastdil Secured arranged the five-year, nonrecourse financing. Seaview, which has been an investment partner in the hotel since 2003, recently completed a $13.7 million renovation as part of a repositioning under Marriott’s Tribute Portfolio Hotels & Resorts brand. Improvements included the redesign of guest rooms, the development of the Emerald Lounge, a new dining and social concept, updated entrances, a revamped lobby, new fitness center and a 1,100-square-foot yoga and Pilates studio. The refinancing provides the sponsor time to continue driving operating performance under the new brand and to compete with other luxury hotels in the Beverly Hills market, according to Mesa West.

July 29, 2025

Development Idaho Multifamily Western

Hawkins Completes 288-Unit Canyon Ridge Multifamily Property in Boise

by Amy Works July 29, 2025

BOISE, IDAHO — Hawkins has completed Canyon Ridge, an apartment community in southeast Boise. Located at 2552 E. Gowen Road, Canyon Ridge features 288 one-, two- and three-bedroom apartments. Community amenities include a resort-style outdoor pool, dedicated dog park and 6,000-square-foot clubhouse. Canyon Ridge is located near the 161-acre Simplot Sports Complex, Mircon’s North Campus and Albertsons. ESI served as general contractor for the project.

July 29, 2025

Acquisitions California Multifamily Western

IPA Brokers $14.4M Sale of Apartment Community in El Cajon, California

by Amy Works July 29, 2025

EL CAJON, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Terre at Ballantyne, a multifamily property in El Cajon. The asset traded for $14.4 million. Chris Zorbas, Alexander Garcia Jr. and Kyle Pinkalla of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. Terra at Ballantyne features 60 units spread across 10 two-story buildings. Apartments offer air conditioning and heating, large closets and patios or balconies on select units. Community amenities include two swimming pools and two laundry facilities. At the time of sale, the property was 97 percent occupied with 40 percent of the units renovated.

July 29, 2025

Acquisitions Arizona Restaurant Retail Western

CBRE Negotiates Sales of Two Retail Ground Leases in Goodyear, Arizona for $6.7M

by Amy Works July 29, 2025

GOODYEAR, ARIZ. — CBRE has negotiated the sales of two adjacent single-tenant ground lease properties at 1420 and 1460 N. Bullard Ave. in Goodyear. Two separate West Coast-based private capital exchange buyers acquired the assets for a combined total of $6.7 million. Benjamin Farthing and Owen Littrell of CBRE represented the seller, Tradecor Partners Goodyear LLC, in the transactions. Bubba’s 33 is located at 1460 N. Bullard Ave. and features a brand new 15-year absolute triple-net ground lease on a 1.7-acre parcel. The property sold for $3.5 million. Located at 1420 N. Bullard Ave., the double drive-through White Castle on a 1-acre parcel sold for $3.2 million.

July 29, 2025

Dori Nolan multifamily institutional investors quote

Content Partner Development Features Leasing Activity Loans Midwest Multifamily Northeast Southeast Texas Western

Institutional Investors Resume Activity Amid Stabilizing Conditions

by Sarah Daniels July 29, 2025

Since the Federal Reserve began raising rates in March 2022 to combat inflation, the real estate market has faced challenges such as rising interest rates, capital market volatility and economic uncertainty. These factors caused many institutional investors to pause their real estate investment activities compared to historical levels. Despite ongoing volatility, investors are gradually re-entering the market, driven by several factors. Key reasons for the pause included a challenging fundraising and capital markets environment, the unpredictable cost of capital, a scarcity of transactions leading to a lack of pricing discovery and widening bid/ask spreads. Some institutional investors were impacted by the “denominator effect,” resulting in an overweighting to real estate and the need for portfolio rebalancing. Additionally, to create bolster funds for other portfolio issues, some institutional investors entered redemption queues seeking liquidity. Broader capital market constraints reduced the availability of equity, while simultaneously driving a growing preference for structuring investments as debt rather than equity among those who remained active. During this period of muted transaction activity, private investors capitalized on the market’s dislocation. These investors increasingly prioritized their acquisition efforts toward newer vintage core and core-plus assets over value-add or development opportunities, reflecting a shift toward higher quality …

July 29, 2025

Acquisitions California Multifamily Western

Waterton Acquires 522-Unit AMLI Warner Center Apartments in Los Angeles

by Amy Works July 28, 2025

LOS ANGELES — Waterton has purchased AMLI Warner Center, a multifamily property situated in the Warner Center master-planned community in the Woodland Hills neighborhood of Los Angeles. Terms of the transaction were not disclosed. Waterton will rebrand the gated community, located at 21200 Kittridge St., as The Kitt at Warner Center. Built in 2007, the property offers 522 one-, two- and three-bedroom floor plans, a resort-style pool and spa, grilling stations with picnic tables, a fire pit and outdoor fireplace, dog park and pet washing station, jogging path with a six-station exercise course, fitness center and two structured parking garages. Waterton plans to renovate the units with new stainless steel appliances, quartz countertops, new cabinet fronts and hardware in kitchens and baths, as well as updated lighting and plumbing fixtures, backsplashes, paint and vinyl plank flooring. Common areas will be reconfigured to maximize use of the space and enhance the resident experience.

July 28, 2025

California Loans Retail Western

Space Investment Partners, PCCP Complete $70M Recapitalization of University Square Shopping Center in San Diego

by Amy Works July 28, 2025

SAN DIEGO — A joint venture between Space Investment Partners and PCCP has completed the $70 million recapitalization of University Square, a grocery-anchored retail center in San Diego. Situated on 20 acres at 5821-5975 University Ave., University Square offers 199,115 square feet of retail space. The center is currently 98.5 percent occupied by a variety of tenants, including Food4Less, Marshalls, Crunch Fitness and Dollar Tree.

July 28, 2025

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