Western

Gantry Secures $16.7M Refinancing for Plaza Colonial Office, Retail Property in Tucson

by Amy Works June 27, 2025

TUCSON, ARIZ. — Gantry has secured a $16.7 million permanent loan to refinance Plaza Colonial, an office and retail property in Tucson. Located at 2840-2890 E. Skyline Drive and 6375 N. Campbell Ave., Plaza Colonial offers 83,869 square feet of retail and office space spread across four buildings. Patrick Barkley and Chad Metzger of Gantry represented the borrower, a private real estate investor. An institutional balance sheet lender provided the five-year, fixed-rate loan, which features full-term interest-only payments. Gantry will service the loan.

June 27, 2025

Acquisitions California Retail Western

Brixton Capital Buys Portion of Elk Grove Village Shopping Center in California

by Amy Works June 27, 2025

ELK GROVE, CALIF. — Brixton Capital has purchased four parcels of the Elk Grove Village shopping center from Elk Grove Village LLC (Mima Capital LLC) for $10.6 million. The neighborhood retail center is located at 8511-8591 Elk Grove Blvd. in Elk Grove, approximately 15 miles south of Sacramento. At the time of sale, the property was fully leased. Current tenants include Arby’s, Macque’s BBQ, Plaza del Sol restaurant and Papa Murphy’s Pizza. Over the next five years, Brixton plans to make improvements to the center, which was built between 1984 and 1988. Randy Getz of CBRE represented the seller, while Brixton Capital was self-represented in the transaction.

June 27, 2025

Acquisitions California District of Columbia Multifamily Southeast Top Stories Western

JRK Property Holdings Acquires Two Apartment Communities in Los Angeles, Washington, D.C. for $315M

by Abby Cox June 27, 2025

LOS ANGELES AND WASHINGTON, D.C. — Los Angeles-based JRK Property Holdings has acquired two apartment communities totaling 684 units, Chase Knolls in Los Angeles and WestEnd25 in Washington, D.C., in two separate transactions for a combined total of $315 million. Located on 14 acres in the Los Angeles neighborhood of Sherman Oaks, Chase Knolls is a 401-unit garden-style community that encompasses nearly two city blocks. The property was originally built in 1949 to include 260 Art Deco-inspired apartment homes across 19 one- and two-story residential buildings. In 2021, a new clubhouse and resort-style swimming pool were integrated into the community, along with 141 new units that were constructed to occupy six additional residential buildings. JRK also plans to make further enhancements to the complex to improve the community amenities and common areas. According to Cushman & Wakefield, which marketed the property for sale on behalf of the undisclosed seller, Chase Knolls is one of only 12 apartment communities exceeding 100 units built in Sherman Oaks over the past 75 years, a testament to the significant development hurdles in the area, such as limited land and high barriers to entry. The second property, WestEnd25, is a 283-unit high-rise apartment community that …

June 27, 2025

Arizona Development Multifamily Student Housing Western

Trinitas, Mitsui Fudosan to Break Ground on 27-Story Student Housing Tower Near Arizona State University

by Amy Works June 26, 2025

TEMPE, ARIZ. — A partnership between Trinitas Ventures and Mitsui Fudosan America is set to break ground on Astria Tempe, a 27-story student housing tower located steps away from the Arizona State University campus in Tempe. The development will offer units in studio, one-, two- and three-bedroom configurations. Shared amenities will include a pool, spa, fitness center, coworking space, social lounges, dog-friendly areas and ground-floor retail space. The community is scheduled for completion in summer 2027. TSB Capital Advisors arranged equity for the project, and BMO Bank provided financing. The development team includes Layton Construction Co. and Niles Bolton Associates.

June 26, 2025

California Development Multifamily Student Housing Western

GMH, Wexford Complete 252-Bed Student Housing Project Near UC Davis, Sacramento Campus

by Amy Works June 26, 2025

SACRAMENTO, CALIF. — A joint venture between GMH Communities and Wexford Science & Technology has completed ANOVA Aggie Square, a 252-bed development located on Stockton Boulevard near the University of California, Davis (UC Davis) campus in Sacramento. The community offers 190 units in a mix of studio, one-, two- and four-bedroom configurations. Shared amenities include a 2,500-square-foot fitness center with yoga and spin studios; soundproof office pods and private conference rooms; a coffee bar; wellness lounge with a sauna and massage chairs; 24-hour package system; game room with billiards; and an amenity patio with grilling stations. UC Davis Student Housing and Dining Services master leases 49 of the units and leases them at below-market rates. Priority for occupancy of these units is given to first-year medical, nursing and graduate students studying on the Sacramento campus. The remaining units are available for lease via GMH Communities, which operates the property, with priority given to university students, faculty and staff. The community was constructed during Phase I of Aggie Square, a larger mixed-use project that is set to include state-of-the-art research facilities and office space.

June 26, 2025

Acquisitions Arizona Multifamily Western

Marcus & Millichap Arranges Sale of 84-Unit Westside Commons Apartment Complex in Tucson

by Amy Works June 26, 2025

TUCSON, ARIZ. — Marcus & Millichap has brokered the sale of Westside Commons, a multifamily property in Tucson. A limited liability company acquired the asset from a limited liability company for $10.7 million. Located at 1335 West St. Mary’s Road, Westside Commons offers 84 apartments. Hamid Panahi and Clint Wadlund of Marcus & Millichap represented the seller and procured the buyer in the deal.

June 26, 2025

Acquisitions California Industrial Mixed-Use Office Western

Juniper Ridge Partners Buys Five-Building Flex Property in San Diego for $10.4M

by Amy Works June 26, 2025

SAN DIEGO — Juniper Ridge Partners has acquired Bay Bridge Center in San Diego from Jon and Donna Stockholm Trust for $10.4 million. Located at 1943-1995 Main St., Bay Bridge Center offers 38,300 square feet of mixed-use flex space. The five-building, multi-tenant asset is situated on 2.1 acres in San Diego’s Harbor/Downtown submarket. At the time of sale, Bay Bridge Center was fully leased to six tenants, including San Diego County Schools and Wrensilva, a high-end audio manufacturer. The property features 400 feet of frontage on Main Street and Harbor Drive, secure yard areas and proximity to a San Diego Trolley stop with immediate access to Interstate 5. Chris Holder, Mark Lewkowitz and Will Holder of Colliers represented the buyer and seller in the deal.

June 26, 2025

Acquisitions Colorado Hospitality Western

Matthews Brokers $7.2M Sale of Best Western Hotel in Lakewood, Colorado

by Amy Works June 26, 2025

LAKEWOOD, COLO. — Matthews Real Estate Investment Services has arranged the sale of a Best Western hotel located at 3440 S. Vance St. in Lakewood. The asset traded for $7.2 million. The names of the seller and buyer were not released. Simon Assaf and Hunter Davis of Matthews handled the transaction. Constructed in 1995, the 144,619-square-foot hotel features 112 guest rooms.

June 26, 2025

California Development Healthcare Top Stories

Scripps Health Completes Development of $664M Hospital Tower in San Diego

by Hayden Spiess June 26, 2025

SAN DIEGO — Locally based health system Scripps Health has completed the development of a new hospital located in the La Jolla neighborhood of San Diego. Construction costs totaled $664 million. Dubbed Scripps Memorial Hospital La Jolla North Tower, the building totals 420,000 square feet across eight floors. The property is situated on the Scripps Memorial Hospital La Jolla campus, about 15 miles north of downtown San Diego. Designed by HGA Architects, the hospital building features 188 inpatient beds, a rooftop helistop, nine operating rooms, three interventional radiology suites, expanded imaging capabilities, a NICU (neonatal intensive care unit), labor and delivery section and postpartum services. McCarthy Building Cos. served as the general contractor for the tower, which is directly connected to the Prebys Cardiovascular Institute, also constructed by McCarthy. According to Scripps Health, the tower was planned and constructed over eight years. Financing for the project included a $2.5 million gift from philanthropist Barbara Smith. Scripps Health, a $5 billion not-for-profit health system, operates four hospitals on five campuses. — Hayden Spiess

June 26, 2025

Acquisitions California Multifamily Western

MG Properties Acquires Citron Apartments in Anaheim, California for $144M

by Amy Works June 25, 2025

ANAHEIM, CALIF. — MG Properties has purchased Citron Apartments, a multifamily community located at 901 E. South St. in Anaheim, for $144 million. Built in 2023, the four-story Citron features 314 apartments with modern finishes and upscale amenities. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing for the transaction through Freddie Mac. With this acquisition, MG has added 17 properties to its portfolio over the past 12 months, totaling more than $2.1 billion.

June 25, 2025

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