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Prairie-Home-Apts-Vancouver-WA
LoansMultifamilyWashingtonWestern

Dwight Mortgage Trust Funds $23.6M Bridge Loan for Prairie Home Apartments in Vancouver, Washington

by Amy Works

VANCOUVER, WASH. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $23.6 million bridge loan for the refinancing of Prairie Home Apartments in Vancouver. McBride Capital brokered the transaction for the borrower, RRC Group. Proceeds of the bridge loan will be used to retire existing construction debt. Built in 2023, Prairie Home Apartments features 120 units spread across five three-story residential buildings, a clubhouse, garages, a fitness center, pool, spa, barbecue grill, picnic area, dog wash station and dog park.

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Central-Valley-Plaza-Modesto-CA
CaliforniaLoansRetailWestern

PSRS Arranges $14.5M Loan for Central Valley Plaza Shopping Center in Modesto, California

by Amy Works

MODESTO, CALIF. — PSRS has arranged $14.5 million in permanent debt for Central Valley Plaza, a retail property in Modesto. Michael Thorp of PSRS – Newport Beach, Calif., secured the 10-year loan, which was placed with a life insurance company, for the undisclosed borrower. Walmart and Kohl’s anchor Central Valley Plaza, which is located off the 99 in Modesto’s retail corridor.

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Trellis-Chino-CA
CaliforniaLoansMultifamilySeniors HousingWestern

G Capital Markets Provides $9.6M HUD Refinancing for Trellis Chino Skilled Nursing Facility in California

by Amy Works

CHINO, CALIF. — G Capital Markets, a new advisory firm launched this summer by Grant Goodman, has arranged a $9.6 million HUD refinancing for Trellis Chino, a skilled nursing facility in Chino. Built in 2018, the community comprises all private rooms and exclusively cares for short-term, high-acuity rehabilitation patients. After leasing up during COVID, the building has performed strongly with near 100 percent occupancy, according to G Capital. The borrower, Encore Capital Ventures, is a real estate investment and capital solutions firm with a portfolio of healthcare and other real estate holdings across California. Proceeds of the loan were used to pay off construction loan debt and fund replacement reserves.

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AcquisitionsColoradoHospitalityWestern

Mission Hill Hospitality Acquires 120-Key Residence Inn by Marriott in Breckenridge, Colorado

by Amy Works

BRECKENRIDGE, COLO. — Mission Hill Hospitality has purchased the Residence Inn by Marriott in Breckenridge. Terms of the transaction were not released. Opened in 2016, Residences Inn Breckenridge features 129 guest rooms, a fitness center, full breakfast, cocktail hour and lounge, year-round outdoor pool and spa, barbeque grills, a 24-house front desk, ski storage and 1,700 square feet of event space.

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CaliforniaLoansMultifamilySeniors HousingWestern

CFG Funds $43.4M HUD Refinancing for Skilled Nursing Facility in Bakersfield, California

by Amy Works

BAKERSFIELD, CALIF. — Capital Funding Group (CFG) has provided a $43.4 million HUD loan for a 140-bed skilled nursing facility in Bakersfield. The transaction converts an existing bridge loan into a HUD loan following the property’s stabilization.  The initial financing, also executed by CFG, allowed the nationally recognized borrower to acquire the property. Patrick McGovern originated the transaction for CFG.

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Columbine-Plaza-Littleton-CO
AcquisitionsColoradoRetailWestern

Hawkeye INVSCO Sells Three-Property Retail Portfolio in Littleton, Colorado for $15.1M

by Amy Works

LITTLETON, COLO. — Greenwood Village-based Hawkeye INVSCO has completed the disposition of a three-property retail portfolio in Littleton to an undisclosed investor for $15.1 million. Totaling 101,103 square feet, the portfolio includes Marketplace at Ken Caryl, Columbine Plaza and Marina Pointe Shopping Center. Located at 10143 W. Chatfield Ave., Marketplace at Ken Caryl features 47,606 square feet and was originally built in 1981. Columbine Plaza, located at 6671-6745 Ken Caryl Ave., offers 33,947 square feet of multi-tenant space. Marina Pointe Shopping Center, located at 7444 W. Chatfield Ave., features 19,550 square feet on 1.8 acres. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the deal.

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1720-E-Garry-Ave-Santa-Ana-CA
AcquisitionsCaliforniaDevelopmentIndustrialOfficeWestern

Terreno Realty Buys $14.8M Office Property in Santa Ana, California, Plans Industrial Conversion

by Amy Works

SANTA ANA, CALIF. — Terreno Realty Corp. has acquired a 4.9-acre site at 1720 E. Garry Ave. in Santa Ana from Greenlaw Partners for $14.8 million. The site consists of three multi-tenant office buildings leased on a short-term basis. Terreno plans to demolish the existing structures and construct an industrial project on the site. Slated for completion in first-quarter 2025, the 91,500-square-foot rear-load distribution facility will offer 10 dock-high and two grade-level loading positions. Terreno’s total expected investment in the project is $40.6 million. The industrial development is fully pre-leased to a provider of temperature-controlled life sciences supply chain solutions. Rick Ellison, Jeff Chiate, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s Capital Markets team in Orange County, Calif., represented the seller in the transaction.

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Alma-School-Ray-Rds-Chandler-AZ
AcquisitionsArizonaRetailWestern

ORION Investment Brokers $4.6M Sale of Retail Center in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — ORION Investment Real Estate has arranged the sale of a retail strip center at Alma School and Ray roads in Chandler. Max Taylor & Co. LLC sold the asset to The Yerahmiel Rocky Rotshein Property Trust for $4.6 million, or $223 per square foot. At the time of sale, the property was fully leased. Nick Miner of ORION represented the seller, while Simon Asef of DMC Real Estate represented the buyer in the deal.

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CaliforniaIndustrialMarket ReportsWesternWestern Market Reports

Commercial Real Estate Goes Hollywood as Investors Buy Studios, Soundstages

by Jeff Shaw

— By Nellie Day — Santa Monica, Calif.-based BLT Enterprises has been an owner, investor, developer and manager of commercial properties since 1984. The firm has seen a lot of changes over that time, which means adaptability remains key to its strategy — and long-term survival.  One of the ways the firm is adapting to current market conditions is through the acquisition and operation of production studios and soundstages. The most recent data on usage and demand for these product types is from the year 2020. At this time, CBRE noted there was 11 million square feet of soundstage space in North America, with half of it being in Los Angeles. Speaking of 2020, the pandemic was also responsible for a 74 percent year-over-year increase in streaming video demand.  FilmLA’s 2020 Sound Stage Production Report also noted the industry maintained an average occupancy of 94 percent that year, with the report further showing television production increased 10 percent in 2020. For comparison, studio occupancy averaged 70 percent in 2017.  Though the world isn’t locked down the way it was in 2020, digital content demand shows no signs of slowing down. Consumers will spend an estimated $151 billion on technology services, …

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Cory Douglas Multifamily Wi-Fi demand
Content PartnerFeaturesMidwestMultifamilyNortheastPavlov MediaSoutheastStudent HousingTexasWestern

Multifamily Must Innovate, Adapt Now to Anticipate Resident Connectivity Demands

by Sarah Daniels

“Traditional wired and wireless networks are becoming faster and more reliable with each new standard on the market,” says Pavlov Media CEO Cory Douglas. “We’re seeing multifamily consumers extend these data networks well beyond the need for just for voice and video. There are all kinds of new demands on multi-dwelling units (MDUs) for integrating Internet of Things (IoT), life safety and power and water management systems into traditional data networks.” For more than 30 years, Pavlov Media has been the leading national provider of residential Wi-Fi service, and now, with Douglas as the company’s newly named CEO, Pavlov Media has plans to build on its success through its unique technology and its eye on the innovation required by multifamily’s evolving needs. Douglas, promoted to replace retiring founder and CEO Mark Scifres, says what sets Pavlov Media apart is its ability to rapidly implement broadband Wi-Fi and video solutions for any style of community, located in any part of the country.  “That capability is really driven by the investments in our back office, technology and engineering workflows that we’ve developed over time,” Douglas explains. “It’s our goal to make the purchasing and deployment experience easy for our customers. It’s done …

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