WESTWOOD, CALIF. — Newmark has arranged the sale of 10918-10926 Le Conte Avenue, a land site with a 9,647-square-foot office building in Westwood. An undisclosed buyer acquired the asset from Le Conte Westwood Development for $38.2 million. Ryan Plummer of Newmark, along with WESTMAC’s Willa McNamara Fields and Jim Burnap, represented the seller. Newmark’s David Kluth and JLL’s Aliya Coher represented the buyer in the off-market transaction. The buyer’s plans for the new development on the site will be released in the upcoming months.
WEST COVINA, CALIF. — Phillips Edison & Co. has acquired Shops at Plaza West Covina, a retail property located at 310 S. California Ave. in West Covina, from an undisclosed seller for $25.8 million. Daniel Tyner, Geoff Tranchina and Gleb Lvovich of JLL Capital Markets represented the seller in the deal. At the time of sale, the 46,406-square-foot property was 88 percent occupied. Current tenants include Bank of America, Jamba, Urbane Café, SchoolsFirst Federal Credit Union, California Fish Grill, Gen Korean BBQ House and other specialty retailers.
SEATTLE — Gantry has secured a $10.2 million permanent loan to refinance the historic Terminal Sales office building in downtown Seattle. Located at 1932 1st Ave., adjacent to Pike Place Market, the 11-story, 92,400-square-foot building was originally delivered in 1925. The property was eventually renovated to serve as modern creative office space and includes street-level retail space. Mike Wood and Tim Brown of Gantry represented the borrower, a private real estate investor. The 10-year, fixed-rate nonrecourse loan was secured by Gantry’s network of insurance company correspondent lenders with 25-year amortization. Gantry will service the loan for the lender.
LITTLETON, COLO. — Vista Residential Partners has closed on financing for the development of Highline Vista, a four-story garden-style multifamily property in Littleton. Vertical construction is slated to commence in August 2026, with first residents scheduled for mid-2027 and full completion for late 2027. Situated approximately 14 miles south of downtown Denver, Highline Vista will offer 172 studio, one-, two- and three-bedroom apartments spread across three four-story residential buildings on 5.6 acres. Apartments will feature stainless steel appliances, quartz countertops, vinyl plank flooring, nine-foot ceilings, in-unit washers/dryers and open layouts. Planned community amenities will include a 3,500-square-foot clubhouse with fitness and business centers, a resort-style pool with cabanas and grilling areas, multiple outdoor amenity pavilions and a community park. Apex Multifamily Construction, a Vista affiliate, is serving as general contractor, and Rosemann Architects is designing the project.
FONTANA, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an industrial distribution building located at 6260 Mango Ave. in Fontana. Magellan Value Partners sold the asset to an undisclosed buyer for $30.2 million. The end user is a clothing-based distribution company based out of New Jersey. The property offers 113,930 square feet of Class A space with a clear height of 32 feet, 19 dock-high doors and options for expandable power. Noah Samarin, David Gores and Gary Womack of DAUM represented the seller, while DAUM’s Steve Haston, along with LA Commercial’s John Lasiter, represented the buyer in the transaction.
CARLSBAD, CALIF. — PSRS has arranged $6.7 million in construction financing for a shopping center in Carlsbad. The project is a ground-up, partially preleased multi-tenant retail development. Trevan Swierczewski and Alexander Santulis of PSRS secured the nonrecourse financing, with a high-leverage structure, through a local debt fund. The financing features a 24-month term with two six-month extension options.
EAGLE RIVER, ALASKA — Angelic Real Estate Holdings, along with its institutional partner JDI Realty, has purchased 17101 Snowmobile Lane in Eagle River, a suburb of Anchorage. Terms of the transaction were not released. Completed in 2008, the two-story building offers just under 20,000 square feet of rentable medical office space. The new ownership plans to upgrade the property with advanced digital building monitoring and control systems, as well as some aesthetic interior and exterior improvements. Since 2021, Angelic has owned the sibling medical office building in Palmer, Alaska, a 25-minute drive from the Eagle River asset. The acquisition was financed with a loan from First National Bank Alaska, procured by Angelic Real Estate, the affiliated brokerage arm of Angelic Real Estate Holdings.
DENVER — United Properties has broken ground on Amira Lowry, a 55-plus active adult community in Denver’s Lowry neighborhood. The four-story property will feature 154 rental residences ranging from alcove studios to two-bedroom-plus-den layouts, all including in-unit laundry, private balconies and storage space. Community amenities will include fitness and wellness spaces, create activity rooms, indoor lounges, exterior gardens, walking paths and outdoor courtyards. The development will also feature a secure, attached parking garage, a bike lounge and outdoor gear storage. Weis Builders is constructing the project. Keegan Mulry House is curating the interior design and furnishings. Amira Lowry is Phase I of a two-phase plan for the site. Future plans include the addition of adjacent villa-style homes that are subject to required approvals.
OAKLAND, CALIF. — San Francisco-based St. Regis Properties has completed the sale of Idora Apartments, a Class A multifamily property in Oakland’s Tamescal neighborhood. The Oakland Fund for Public Innovation acquired the asset for $12.6 million, or $380,000 per unit. Located at 5239 Claremont Ave., the five-story property features 33 one- and two-bedroom units, averaging 863 square feet, and 2,369 square feet of ground-floor retail space. Apartments offer washers/dryers, central heat and air conditioning, stainless steel appliances, quartz countertops, European cabinetry, wood-style flooring, carpeting, large closets and private balconies. Community amenities include a rooftop terrace and barbecue, resident lounge, secure garage parking, bike storage and electric vehicle charging stations. The buyer purchased the property through its Rooted program, which leads efforts to provide equitable housing solutions for educators. Financing was provided through the San Francisco Housing Accelerator Fund. ArtHaus Partners, a Bay Area-based vertically integrated multifamily developer and operator, worked as a consultant to the buyer during the acquisition. Jason Parr, John Hansen and Scott MacDonald of Berkadia represented the seller in the transaction.
BOTHELL, WASH. — Colliers has arranged the sale of the Wright Group Building, an office and flex property located at 19201 120th Ave. NE in Bothell’s North Creek business park. RH Wright LLC sold the asset to Gravestone Partners for $10.2 million. Totaling 59,830 square feet, the building offers 25,000 square feet office space supported by flex and warehouse elements. The property features at least 20-foot clear heights, two dock-high doors, eight grade-level doors and 1,000 amps of power. At the time of sale, the building was partially occupied by a mix of office and service-oriented tenants, including Trane Technologies, Element Materials Technologies, ISEC Construction, Taekwondo Way, Biogenesis and Barry Glenn State Farm. David Gunther of Colliers represented the seller in the deal.