Saturday, February 7, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Western

Alexan-Pena-Station-Denver-CO
ColoradoDevelopmentLoansMultifamilyWestern

Berkadia Structures $81.2M in Joint Venture Equity for Alexan Pena Station Apartment Development in Denver

by Amy Works

DENVER — Berkadia has arranged $81.2 million in joint venture equity for Trammell Crow Residential (TCR) for the development of Alexan Pena Station, a multifamily development project in Denver. Cody Kirkpatrick, Chinmay Bhatt and Noam Franklin of Berkadia JV Equity & Structured Capital represented the sponsor, TCR, to arrange the joint venture equity partnership. Berkadia secured the equity through MBK Rental Living, a privately held real estate investment and development firm. Located on the northeast side of Denver, Alexan Pena Station will feature 578 one-, two- and three-bedroom apartments, with an average unit size of 976 square feet, spread across 12 buildings. The community will offer 46 affordable units for individuals earning up to 60 percent of the area median income. Alexan Pena Station will be built over two phases on a 20-acre site with more than 725 parking spaces.

Continue Reading
FacebookTwitterLinkedinEmail
Hadley-North-Scottsdale-AZ
AcquisitionsArizonaMultifamilyWestern

IPA Brokers Sale of 240-Unit Multifamily Community in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Hadley North Scottsdale, a midrise apartment property in the Phoenix suburb of Scottsdale. Completed in 2014, The Hadley North Scottsdale features 240 apartments with nine-foot ceilings, wood-style plank flooring, full-size washers/dryers, large walk-in closets and private patio or balconies. The average unit size is more than 1,000 square feet. Community amenities include a resort-style heated pool and a clubhouse with a conference room and workstations. Steve Gebing and Cliff David of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. The acquisition price was not released.

Continue Reading
FacebookTwitterLinkedinEmail
Hampton-Inn-Artesia-NM
AcquisitionsHospitalityLoansNew MexicoWestern

MMCC Arranges $8.8M in Acquisition Financing for Hampton Inn & Suites Artesia in New Mexico

by Amy Works

ARTESIA, N.M. — Marcus & Millichap Capital Corp. (MMCC) has arranged $8.8 million in financing for the acquisition of Hampton Inn & Suites Artesia, a hotel located at 2501 S. Permian Pavilion Ave. in Artesia, located in the southeast corner of the state. Tyler Waller of MMCC’s Phoenix office secured the 10-year loan, which includes three years of fixed interest with a 25-year amortization schedule and 70 percent loan-to-value ratio, on behalf of a private client. Josh Tammen of Marcus & Millichap represented the both the buyer and seller in the transaction. Built in 2016, the Hampton Inn & Suites Artesia features 81 guest rooms and provides direct access to downtown Artesia and Artesia Municipal Airport.

Continue Reading
FacebookTwitterLinkedinEmail
CVS-pharmacy-Placentia-CA
AcquisitionsCaliforniaRetailWestern

NewMark Merrill Buys 28,800 SF CVS-Occupied Retail Building in Placentia, California

by Amy Works

PLACENTIA, CALIF. — NewMark Merrill Cos. has acquired a retail building within Placentia Town Center, a 142,666-square-foot shopping center in the Orange County city of Placentia, for an undisclosed price. CVS/pharmacy occupies the 28,800-square-foot retail building. With the acquisition of the CVS building, NewMark Merrill now owns the entire shopping center. Additional tenants include Marshalls, Ross Dress for Less, Massage Envy, Philly’s Best, KC Nails, Avalon Bagels, Courtesy Cleaners, Mr. D’s Diner & Bar, Uptown Cheapskate and Beauty Avenue.   Greg Giacopuzzi of NewMark Merrill, along with Tony Veiller of Pegasus Investments, represented NewMark Merrill in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Seattle-Metro-Logistics-Seattle-WA
DevelopmentIndustrialWashingtonWestern

TCC, MetLife Investment Near Completion of 702,429 SF Seattle Metro Logistics in South Seattle

by Amy Works

SEATTLE — Trammel Crow. Co (TCC) and its joint venture partner MetLife Investment Management are near completion of Seattle Metro Logistics, a two-story industrial facility at 44 S. Nevada Ave. in South Seattle. In 2021, the Port of Seattle Commission approved the long-term ground lease for this portion of Port-owned land — known as Terminal 106 — to TCC, allowing for the demolition of the port’s old warehouse and construction of a new light industrial facility, which started in 2022. Slated for delivery this August, the 702,429-square-foot facility will feature 30-foot clear heights, 50-foot by 50-foot column spacing, 350 pounds per square foot floor loading, ESFR sprinklers, 289-foot warehouse depth and truck court depths ranging from 131 feet to 135 feet. The property is designed to suit a broad range of industrial uses, from last-mile and regional distribution to storage, maritime and manufacturing uses. Seattle Metro Logistics will include a parking garage with 701 spaces and a solar-ready roof. Project partners include Nelson Worldwide as architect of record, Lease Crutcher Lewis as general contractor and Bank OZK as construction lender. Andrew Stark and Andrew Hitchcock of CBRE are handling the marketing and leasing of the facility.

Continue Reading
FacebookTwitterLinkedinEmail
Sand-Canyon-Plaza-Apts-Santa-Clarita-CA
Build-to-RentCaliforniaDevelopmentLoansMultifamilySingle-Family RentalWestern

Kennedy Wilson Provides $95M Construction Loan for Multifamily Development in Santa Clarita, California

by Amy Works

SANTA CLARITA, CALIF. — Kennedy Wilson’s debt platform has provided a $95 million senior construction loan to a joint venture between Greystar Real Estate Partners and The Resmark Cos. The funds will be used for the development of a multifamily and build-to-rent project in Santa Clarita, approximately 33 miles northwest of downtown Los Angeles. Situated within Sand Canyon Plaza, the community will feature 259 rentable multifamily units and 64 build-to-rent townhomes. The multifamily residents will have access to a fitness center, club room, courtyard, game lounge, coworking space and a fourth-floor sky deck with unobstructed mountain views. The build-to-rent townhomes will offer expansive green space areas, multiple open turf play areas and a tot lot that will cater to young families renting in the community. The project will also feature a resort-style pool and spa that will be shared by both multifamily and build-to-rent townhome residents. Upon completion, the 87-acre Sand Canyon Plaza will feature parks, open spaces, a walking trail system and a 45,000-square-foot retail center anchored by Sprouts Farmers Market, which is slated to break ground this year.

Continue Reading
FacebookTwitterLinkedinEmail
13812-Newport-Ave-Tustin-CA
AcquisitionsCaliforniaRetailWestern

World Premier Investments Acquires Newport and Walnut Center Strip Mall in Tustin, California

by Amy Works

TUSTIN, CALIF. — World Premier Investments has purchased Newport and Walnut Center, a retail strip center in the Orange County city of Tustin. A private family trust sold the asset for $6.2 million. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets represented the seller and buyer in the deal. Located at 13812 Newport Ave., Newport and Walnut Center features 9,624 square feet of retail space. The center is fully occupied by eight tenants, including HiroNori Craft Ramen, Crown Beauty, Studio 18 Nail Bar and Moon Lash Beauty.

Continue Reading
FacebookTwitterLinkedinEmail
Bethany-Home-Livermore-CA
CaliforniaLoansMultifamilySeniors HousingWestern

G Capital Markets Arranges $15.5M Recapitalization for Seniors Housing Project in Livermore, California

by Amy Works

LIVERMORE, CALIF. — G Capital Markets (GCap), a capital advisory firm based in Carmel, has arranged a recapitalization for Bethany Home, a 59-bed assisted living community in Livermore on the eastern edge of the Bay Area.  Built in 2021 by a regional owner-operator, the property leased up in 2022 and has shown consistently strong performance for several years with cash flow margins well over 40 percent and occupancy of 90 percent, according to GCap. The bridge-to-HUD loan was structured with a large equity-out component and sized to maximize the takeout refinancing while allowing the borrower to submit a HUD application in 2024 without the need to wait the typical two years of debt seasoning. GCap arranged the $15.5 million credit facility with a regional bank partner. The loan carries an interest rate SOFR spread in the low 300s and a below-market financing fee. The borrower is an existing client of GCap, and this property will be part of a broader permanent portfolio refinancing that is scheduled to close in 2025.

Continue Reading
FacebookTwitterLinkedinEmail
1450-1456-S-Manhattan-Ave-Fullerton-CA
AcquisitionsCaliforniaIndustrialWestern

Voit Negotiates Sale of 48,235 SF Warehouse in Fullerton, California

by Amy Works

FULLERTON, CALIF. — Voit Real Estate Services has arranged the purchase of a freestanding industrial warehouse situated on 2.2. acres in Fullerton, a city in northern Orange County. Anaheim-based 1450 Manhattan LLC acquired the asset from Salher LLC for $13.3 million. Located at 1450-1456 S. Manhattan Ave., the property features 48,235 square feet of industrial space. Garrett McClelland and Erik Sikes of Voit Real Estate Services’ Irvine office represented the buyer, while Byron Foss, Wade Tift and Nick Carey of JLL represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialTop StoriesWestern

Rexford Acquires 48-Property Southern California Industrial Portfolio from Blackstone for $1B

by Jeff Shaw

LOS ANGELES — Blackstone Real Estate has sold a portfolio of industrial properties in Southern California to Rexford Industrial Realty Inc. (NYSE: REXR) for a total of $1 billion. The portfolio comprises 48 properties and approximately 3 million square feet, for a sales price of $332 per square foot. At the time of the sale, the portfolio was 98 percent leased. Almost all of the properties are located within infill submarkets in Los Angeles and Orange counties. A list of the properties was not released. Rexford Industrial, headquartered in Los Angeles, financed the transaction using proceeds from its recent exchangeable senior note offerings and cash on hand. According to Michael Frankel and Howard Schwimmer, co-CEOs of Rexford Industrial, the REIT’s current acquisition pipeline also includes $300 million of investments under contract or accepted offer. “Infill Southern California is the nation’s highest-barrier and lowest supply industrial market,” said Frankel and Schwimmer via a press release. “These strategic investments in exceptionally well-located, high-quality assets represent a significant opportunity to drive accretive cash flow growth, increased operating margins and long-term value creation.” Rexford is already a major industrial investor, with its entire 422-property, 49.1 million-square-foot portfolio located in Southern California. The company’s stock price closed at $50.30 per share …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts