Western

Troy Marek Regions Real Estate Capital Markets quote from article

Multifamily, Seniors Housing Sectors Remain Positive Real Estate Performers

by Sarah Daniels July 10, 2025

By Troy Marek, Regions Real Estate Capital Markets As we embark on the second half of 2025 amidst some economic uncertainty, there are two bright spots within real estate. Both the multifamily and the seniors housing/healthcare sectors boast strong fundamentals and occupancies. RealPage data indicates 138,302 apartment units were absorbed in the first quarter, and NIC MAP data shows a seniors housing occupancy increase to 87.4 percent, or 621,000 occupied units over the same period. This suggests strong demand in both critical housing sectors, at the same time new supply is slowing. Interest Rates Drive Lending Activity Agencies Freddie Mac, Fannie Mae and HUD remain the primary loan providers supporting these two asset classes today. Unsurprisingly, interest rates heavily impact lending activity. Since the Federal Reserve decided to hold rates steady in May, sector experts have been closely watching employment and inflation data, as well as tariff impacts, as all three have the power to influence the Fed to lower rates later this year. With the Federal Reserve deciding to hold rates as-is in June, industry players will continue to keep an eye on the data. Once rates are brought down some, perhaps later this year, multifamily and seniors housing/healthcare …

July 10, 2025

Acquisitions Colorado Industrial Western

United Properties Sells 157,942 SF Industrial Facility in Denver for $25.5M

by Amy Works July 9, 2025

DENVER — United Properties has completed the sale of Enterprise Business Center Building 7 (EBC 7), an industrial building in Denver, to Dream US Industrial Fund, an entity of Dream REIT, for $25.5 million. Located at 9420 E. 40th Ave., EBC 7 features a clear height of 24 feet, ESFR sprinklers, high-end office/showroom build-outs and a large truck court. The 157,942-square-foot building was built in 2017 as part of the Enterprise Business Center campus. MIke Wafer, Tim Richey, Michael Wafer Jr., Mike Viehmann, Jack Richey and Sean Fitzgerald of Newmark represented the seller in the deal.

July 9, 2025

Acquisitions California Multifamily Western

Levin Johnston Arranges $18M Sale of Multifamily Portfolio in Santa Clara, California

by Amy Works July 9, 2025

SANTA CLARA, CALIF. — Levin Johnston of Marcus & Millichap has directed the $18 million purchase of a portfolio of three contiguous garden-style multifamily buildings on Bellomy Street in Santa Clara. Located at 1962, 1972 and 1978 Bellomy St., the portfolio offers 59 studio, one-, two-, three- and four-bedroom apartments spread across low-density, two-story buildings. Built in 1951, the buildings feature shared landscaped areas, an outdoor pool and surface parking. The Levin Johnston team procured a local investment group focused on value-add acquisitions as the buyer in the transaction. The name of the seller was not released.

July 9, 2025

Acquisitions Colorado Retail Western

Canopy Real Estate Partners Acquires Retail Center in Metro Denver for $15.8M

by Amy Works July 9, 2025

WHEAT RIDGE, COLO. — Denver-based Canopy Real Estate Partners has acquired Gold’s Marketplace, a neighborhood retail center located roughly six miles outside Denver in Wheat Ridge, for $15.8 million. Situated at 26th Avenue and Kipling Street, the 59,000-square-foot center was 83 percent leased at the time of sale to 17 tenants, including Illegal Pete’s, Esters Neighborhood Pub, Queen City Collective Coffee, Em’s Ice Cream and Rich Spirit Bagels.

July 9, 2025

Acquisitions California Industrial Western

Lee & Associates Brokers $3.4M Sale of Industrial Property in Fullerton, California

by Amy Works July 9, 2025

FULLERTON, CALIF. — Lee & Associates has arranged the acquisition of an industrial building located at 1041 S. Placentia Ave. in Fullerton. An undisclosed buyer purchased the property for $3.4 million. The buyer plans to repurpose the 9,982-square-foot building into a dental laboratory. The property features a clear height of 19 feet, a sprinkler system, two ground-level doors and a parking ratio of 1.9 cars per 1,000 square feet. John Son and Christopher Destino of Lee & Associates represented the buyer in the deal.

July 9, 2025

California Development Retail Western

Capstone Advisors Completes $1M Renovation of Mission Escondido Shopping Center in Metro San Diego

by Amy Works July 9, 2025

ESCONDIDO, CALIF. — Capstone Advisors has completed the $1 million renovation of Mission Escondido Shopping Center, a 41,530-square-foot shopping center located in Escondido, approximately 30 miles north of San Diego. The property was originally built in 1980. The renovation project included a contemporary design with a refreshed color palette and standing seam metal roof, as well as drought-tolerant landscaping, updated site and tenant signage and parking lot improvements. Additionally, the center is now fully leased to 14 tenants including Dongbu Korean BBQ, Prism Jiu Jitsu and Swan Hair Salon. AO and MW Peltz + Associates of Solana Beach designed the renovation, while Dowling Construction, San Diego Electric Sign, Pacific Western Painting, Pyle Landscape Care and Doo-Rite Roofing completed the project. Capstone Advisors acquired Mission Escondido Shopping Center in 2011 for $3.9 million.

July 9, 2025

Hawaii Industrial Market Reports Western Western Market Reports

Oahu’s Industrial Market: Still Tight, But Some Softening

by John Nelson July 9, 2025

— By William (Bill) Froelich of Colliers — s of first-quarter 2025, Oahu’s industrial market remains one of the tightest in the nation — but signs of softening are emerging. Our 41.9 million square foot market reported a vacancy rate of 1.2 percent, the highest in over two years, up from 0.9 percent in fourth-quarter 2024 and a near-record low of 0.6 percent in third-quarter 2023. Net absorption was negative at -115,001 square feet in first-quarter 2025, marking the fifth quarter of negative net absorption in the last six. Despite this, direct weighted average asking base rents reached a new high of $1.56 per square foot per month, reflecting continued landlord leverage in a market with severely constrained supply. Industrial operating expenses also rose, averaging $0.54 per square foot monthly, pushing our gross rents over $2.00 per square foot. Raw Land Market: A Race to Buy Before It’s Gone In a typical year, Oahu absorbs 10 to 20 acres of raw industrial land. But in a short period between the end of 2021 and the first half of 2022, over 100 acres had traded, driven by high-profile acquisitions such as Amazon’s 50-acre purchase and Costco’s 45-acre site purchased for almost …

July 9, 2025

Affordable Housing California Development Loans Multifamily Western

KeyBank Provides $47M in Construction Financing for Affordable Housing Project in Oceanside, California

by Amy Works July 8, 2025

OCEANSIDE, CALIF. — KeyBank Community Development Lending and Investment (CDLI) has provided Mirka Investments a $32 million tax-exempt construction loan and a $15 million taxable construction loan to finance the development of El Camino Real, an affordable housing community at 2136 S. El Camino Real in Oceanside. Additionally, a $27.8 million permanent loan will be privately placed with one of KeyBank Commercial Mortgage Group’s (CMG) institutional investors. El Camino Real will feature a four-story residential building with 111 two- and three-bedroom apartments for families earning between 30 and 80 percent of the area median income. The property will include a leasing office and community area within a 6,500-square-foot common space, including outdoor recreation space and central laundry rooms on each floor. Supportive services will be provided by Mission Neighborhood Centers, which offers educational programs, workforce development, homelessness prevention and social services. The project received an additional $32 million construction loan from the California Municipal Finance Authority through a Multifamily Housing Private Activity Bond issuance, $12.9 million in certificated credits from the City of Oceanside State Housing Tax Credit program via Monarch Private Capital and $16 million in federal Low-Income Housing Tax Credit equity from WNC. Matthew Haas of KeyBank CDLI structured …

July 8, 2025

Development Multifamily Nevada Seniors Housing Western

Metcalf Builders Completes Valage Carson Valley Senior Living Community in Minden, Nevada

by Amy Works July 8, 2025

MINDEN, NEV. — Metcalf Builders has completed Valage Carson Valley, a senior living community in Minden. Situated on 4 acres, the 79,829-square-foot project offers 88 units, totaling 92 beds, with full-sized kitchens and dining areas. Community amenities include interior and exterior courtyards, an arbor and planters, as well as a wellness center for the assisted living and memory care community. The seniors housing project is valued at $25 million and owned by Valage Minden LLC.

July 8, 2025

372 Inverness Dr. S. Englewood, CO 80112

Acquisitions Colorado Healthcare Western

IRA Capital Buys 49,000 SF Reunion Inverness Physical Rehabilitation Hospital in Englewood, Colorado

by Amy Works July 8, 2025

ENGLEWOOD, COLO. — IRA Capital has acquired Reunion Inverness Physical Rehabilitation Hospital, a Class A inpatient rehabilitation facility (IRF) in Englewood, from a partnership between American Development & Investments, Brandon Holdings and Nobis Hospital Investments. Terms of the acquisition were not disclosed. Located at 372 Inverness Drive South, the three-story, 49,000-square-foot building is fully leased by Reunion Rehabilitation Hospitals on an absolute net lease structure with 22 years remaining. The purpose-built facility features 40 patient beds with scalability to 60 beds, two advanced therapy gyms, private patient rooms, outdoor courtyards, family gathering areas and a full-service café. John Witt and Ben Swanson of Quiver Investment, along with Chris Toci and Eric Wichterman of Cushman & Wakefield, represented the seller in the deal. Nobis Rehabilitation Partners, a third-party healthcare operator and manager, operates the Inverness facility.

July 8, 2025

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