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15008-A-St-Tacoma-WA
AcquisitionsMultifamilyWashingtonWestern

Pierce County Housing Authority Buys 56-Unit Hidden Firs Apartment Complex in Tacoma, Washington

by Amy Works

TACOMA, WASH. — Pierce County, Wash., Housing Authority (PCHA) has acquired Hidden Firs, a multifamily community in Tacoma. A long-time family ownership group, which developed the property, sold the asset for an undisclosed price in an off-market transaction. Located at 15008 A St., Hidden Firs offers 56 apartments spread across 2 acres. The acquisition supports PCHA’s mission to maintain affordability and access to housing as regional costs continue to rise. The property appealed to PCHA because its resident profile has many tenants eligible for housing vouchers. Austin Kelley and Ted Sipila of Kidder Mathews represented PCHA in the transaction.

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AcquisitionsArizonaHealthcareOfficeWestern

Cushman & Wakefield | PICOR Brokers $6.1M Sale of Medical Office Portfolio in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a multi-property medical office portfolio in Tucson. A private investment group acquired the asset from an undisclosed investment REIT for $6.1 million. The 42,722-square-foot portfolio consists of multiple leased medical buildings at 4892 N. Stone Ave. and the Green Valley Medical Mall at 1055 N. La Canada Drive. Thomas Nieman and Bryce Horner of Cushman & Wakefield | PICOR represented the seller in the deal.

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4205-W-Tompkins-Ave-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

MCA Realty Acquires 19,500 SF Multi-Tenant Industrial Building in Las Vegas for $4.2M

by Amy Works

LAS VEGAS — MCA Realty, through its Industrial Growth Fund II, has purchased a multi-tenant industrial building, located at 4205 W. Tompkins Ave in Las Vegas, from a private investor for $4.2 million. Built in 1984, the 19,500-square-foot building features a clear height of 22 feet, seven grade-level roll-up doors, separately metered units with evaporative coolers and a 28,500-square-foot fenced yard. MCA Realty will make significant improvements to the exterior, including new paint, asphalt repairs and new fencing. Interior improvements will include office renovations, new carpet and ceiling tiles, new bathroom fixtures, LED lighting, painting and insulation of the warehouse. Pat Marsh and Sam Newman of Colliers represented both parties in the transaction.

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11320-Sanchez-St-Castroville-CA
CaliforniaLoansMultifamilyWestern

MMCC Arranges $3.7M Refinancing of Multifamily Property in Castroville, California

by Amy Works

CASTROVILLE, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has secured $3.7 million for the refinancing of an apartment building in Castroville. Located at 11320 Sanchez St., the property offers 23 apartments. Kevin Elliot of MMCC’s Orange County, Calif., office arranged the financing with a local credit union on behalf of a private client. Terms of the five-year loan include a 6.06 percent interest rate with one year of interest-only payments, a 29-year amortization period and a 60 percent loan-to-value ratio.

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The-Variel-Woodland-Hills-California
CaliforniaLoansMultifamilyNortheastPennsylvaniaSeniors HousingTop StoriesWestern

BWE Arranges $308M Refinancing of Two Seniors Housing Properties in Metro Los Angeles, Philadelphia

by Taylor Williams

WOODLAND HILLS, CALIF AND AMBLER, PA. — BWE, a Cleveland-based commercial real estate financial services firm, has arranged the $308 million refinancing for a pair of seniors housing properties in the Los Angeles and Philadelphia metro areas. The financing was structured as a single transaction on behalf of a joint venture between Columbia Pacific Advisors, LAMB Properties and Harbert South Bay Partners. Momentum Senior Living operates both properties. Located in the northwest Los Angeles neighborhood of Woodland Hills, The Variel is a 336-unit community that offers independent living, assisted living and memory care services, as well as a range of amenities and wellness programs. The 270,000-square-foot (net rentable) community opened in July 2022 and was more than 90 percent occupied at the time of the loan closing. Located in the northern Philadelphia suburb of Ambler, Pa., The 501 at Mattison Estate is a 250-unit community that also offers independent living, assisted living and memory care services. Spanning approximately 200,000 net rentable square feet, the property opened in June 2022 and was 95 percent occupied at the time of loan closing. Amenities at The 501 at Mattison Estate include an art studio, courtyards with lounges and grills, a dog park, fitness …

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The-BW-Apts-Los-Angeles-CA.jpg
AcquisitionsCaliforniaMultifamilyWestern

FAMH Group Acquires The BW Apartment Property in Los Angeles for $58.1M

by Amy Works

LOS ANGELES — FAMH Group Ltd. has acquired The BW, a multifamily property located in the Brentwood neighborhood of Los Angeles, from California Landmark Group for $58.1 million, or $744,872 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Completed in 2013, The BW features 78 studio, one-, two- and three-bedroom units with stainless steel appliances, washers/dryers, deep soaking tubs, walk-in closets and floor-to-ceiling double-pane windows. The property also offers 2,300 square feet of ground-floor retail space, a rooftop lounge with Jacuzzi, a fitness center, business center, electric vehicle charging stations and onsite garage parking.

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ATLAS-Exchange-Mesa-AZ
AcquisitionsArizonaDevelopmentIndustrialWestern

ATLAS Capital Partners, Hawkins Development Buy 38 Acres in Mesa, Arizona for Industrial Project

by Amy Works

MESA, ARIZ. — ATLAS Capital Partners, along with development partner Hawkins Development Co., has acquired 38 acres in Mesa for $13.8 million. The partnership plans to develop ATLAS Exchange, a four-building Class A industrial project, on the site at 4140 S. Signal Butte Road. ATLAS Exchange’s buildings will range from 40,000 square feet to 100,000 square feet. Design plans include an amenity-rich environment with shaded ramadas and pickleball courts. Construction is slated to begin in third-quarter 2025. Early lease negotiations are underway at ATLAS Exchange. Pat Harlan and Steve Larsen of JLL are handling leasing for the project. The JLL team also represented ATLAS and the seller, Brookfield Properties, in the sale transaction.

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Gantry-Srs-Housing-Cupertino-CA
CaliforniaLoansMultifamilySeniors HousingWestern

Gantry Secures $25M Refinancing for Seniors Housing Community in Cupertino, California

by Amy Works

CUPERTINO, CALIF. — Gantry has secured a $25 million permanent loan to refinance a seniors housing community in Cupertino. Restricted to residents age 55 or older, the independent senior property features 160 studio, suite and two-bedroom floor plans. Community amenities include meal service, social activities, housekeeping and laundry, valet parking, concierge services, 24/7 staffing, a swimming pool, fitness center, meditation garden and landscaped courtyards with seating. Mitch Zeemont, Jeff Wilcox, Robert Slatt and Erinn Cooke of Gantry represented the borrower, a private real estate investor. One of Gantry’s insurance company correspondents provided the 10-year, fixed-rate loan, which features a 30-year amortization. Gantry will service the loan.

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2300-International-Ave-Albuquerque-NM
AcquisitionsHospitalityNew MexicoWestern

Marcus & Millichap Brokers Sale of 101-Room Sleep Inn Albuquerque Airport Hotel in New Mexico

by Amy Works

ALBUQUERQUE, N.M. — Marcus & Millichap has arranged the sale of Sleep Inn Albuquerque Airport, a hotel at 2300 International Ave. in Albuquerque. The 101-room hotel was built in 1996. The fully stabilized turn-key hotel has no Property Improvement Plan (PIP) required and double-digit year-round market RevPAR growth. John Casler and Josh Tammen of Marcus & Millichap represented the seller, while Tammen also represented the buyer in the transaction. Terms of the transaction were not released.

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1628-La-Mirada-Blvd-La-Mirada-CA
AcquisitionsCaliforniaMultifamilyWestern

LaTerra Development Sells 28-Unit Charlie La Mirada Multifamily Building in La Mirada, California

by Amy Works

LA MIRADA, CALIF. — Marina Del Rey, Calif.-based LaTerra Development has completed the disposition of The Charlie La Mirada, an apartment building in La Mirada. Dunbar Real Estate Investment Management acquired the asset for $11.1 million. Developed by LaTerra Development in 2021, The Charlie La Mirada offers 28 apartments. LaTerra built the asset, which is located at 1628 La Mirada Blvd., as part of its Charlie Collection. Joe Leon and Nick Ingle of Voit Real Estate Services represented the seller, while Dean Zander of Newmark represented the buyer in the deal.

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