ALAMEDA, CALIF. — Northmarq, on behalf of Alameda Point Redevelopers LLC, has arranged $54 million in financing for Storehouse Lofts, a residential mixed-use property located at 2350 Saratoga St. in Alameda. Storehouse Lofts is an adaptive reuse project that converted a former military warehouse into a modern 197-unit live-work community. Each unit is loft-style with open floor plans and high ceilings. Additionally, the 187,466-square-foot property features a gym, wellness center and roof deck, as well as a brewery and restaurant as commercial tenants. Dan Baker and Jason Szuminski of Northmarq secured the 10-year, fixed-rate loan through Northmarq’s correspondent relationship with Freddie Mac. The transaction refinances the original construction loan for the property, which is more than 95 percent leased.
SAN DIEGO — CEG Capital Partners has acquired Shops at Madison Place, a retail property located at 5487-5597 Clairemont Mesa Blvd. in San Diego, from The Shops at Madison Place LLC for $23 million. At the time of sale, the 53,294-square-foot property was 93 percent leased to a variety of long-standing tenants, including Golf Bar, Victory MMA & Fitness, STP Bar and Grill and CosmoProf. Michael Peterson, Reg Kobzi and Rachel Parsons of CBRE represented the seller in the deal.
GALLUP, N.M. — Faris Lee Investments has arranged the sale of Zecca Plaza, a grocery-anchored retail center in Gallup. Rhino Investments sold the asset to Odeh Investments for $16.7 million. Don MacLellan, Jeff Conover, Scott DeYoung and Chris DePierro of Faris Lee represented the seller in the deal.
BELGRADE, MONT. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly constructed, single-tenant property located within the master-planned community of The Foundry in Belgrade, approximately 11 miles northwest of Bozeman. An Amazon facility occupies the 52,300-square-foot building. Eric Wohl and CJ Kiehler of Hanley, in association with locally based Venture West Development LLC, represented the seller. Samer Khalil of Newmark represented the buyer, a New York-based private 1031 exchange investor. The sales price was not disclosed.
SALT LAKE CITY — Owner and operator Stellar Senior Living has added six new communities to its management portfolio. The Utah-based company will now operate Granite Gate Prescott, Ariz.; The Forum at Desert Harbor in Peoria, Ariz.; The Gardens of Scottsdale and Pueblo Norte in Scottsdale, Ariz.; The Forum at Tucson in Tucson, Ariz.; and Montebello on Academy in Albuquerque, N.M. Stellar will manage the properties on behalf of Diversified Healthcare Trust, which owns the communities. “These communities are located in markets we know and trust, and they complement our existing portfolio,” says Ray Henderson, partner and senior vice president of Stellar. “Each addition expands our presence in high-growth regions and reinforces our ability to deliver the quality care and vibrant lifestyle that define Stellar.”
IRVINE, CALIF. — JLL Capital Markets has arranged an $820 million refinancing for a 6.1 million-square-foot industrial portfolio comprising 42 shallow-bay properties across six markets. JLL arranged the CMBS financing on behalf of the borrower, a joint venture between affiliates of CIP Real Estate LLC and Almanac Realty Investors. Wells Fargo led the floating-rate, single-asset single-borrower (SASB) refinancing, with J.P. Morgan and Goldman Sachs also originating portions of the loan. The properties span major industrial markets, including Atlanta, Dallas-Fort Worth, Charlotte, Tampa and California’s East Bay and Inland Empire. As of September, the portfolio was 91 percent leased to more than 950 tenants. The buildings feature average clear heights of 19 feet, an average office finish of 33 percent and range in size from 16,176 to 944,655 square feet. The average property size is 145,925 square feet. Many tenants are logistics, e-commerce and distribution users, including last-mile operators and small- to medium-sized businesses. CIP plans to continue its growth strategy in the shallow-bay industrial sector, where it sees opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants, according to CEO Eric Smyth. JLL’s Kevin MacKenzie, Peter Thompson, Christopher Pratt, Kyle White, Anthony Scaglione and Nick Englhard led …
CHANDLER, ARIZ. — JLL Capital Markets has arranged $73.2 million in permanent financing for the Chandler Shopping Center Portfolio, a two-property retail portfolio in Chandler. JLL represented the borrower, a joint venture managed by a real estate investment trust, in securing the five-year, fixed-rate loans through a national bank. The financing was structured as one loan secured by two mortgages: $51 million for Chandler Festival and $22.2 million for Chandler Gateway. The portfolio encompasses 616,639 square feet of retail space along Chandler Boulevard. TJ Maxx, Ross Dress for Less, Nordstrom Rack and PetSmart are tenants at the 354,548-square-foot Chandler Festival. The 262,091-square-foot Chandler Gateway is anchored by Walmart and Hobby Lobby. Kevin MacKenzie, Jon Mikula, Jason Carlos, Quin Madden and Tyler Naughten of JLL represented the borrower in the financing.
WOODLAND HILLS, CALIF. — CCI is slated to break ground in second-quarter 2026 for the development of Livelle Mulholland, a seniors housing property in Woodland Hills. Located at the corner of Mulholland Drive and Valmar Road, Livelle Mulholland will feature more than 200 independent living apartments, seven villas, 16 assisted living apartments and 13 memory care units. Community amenities will include a wellness center with fitness and therapy pools, natural trails and outdoor game courts, underground and attached garage parking, a gourmet restaurant, wine bar/rooftop lounge, indoor and outdoor theaters and classrooms. LCS will manage the property, which is slated to open in the second half of 2028. Project partners include Perkins Eastman as architect, KPFF as engineer, Envicom as environmental and land planner, LRM as landscape architect, Carlberg Associates as horticulturist and Brenner Consulting Group as permit administrator.
ELK GROVE, CALIF. — Hanley Investment Group Real Estate Advisors has directed the purchase of The Shops at Laguna Reserve, a fully leased, 33,308-square-foot retail center in Elk Grove. Los Angeles-based Bershon Realty Co. acquired the property from a Roseville, Calif.-based private investor for $19.2 million. Located at 10040-10064 Bruceville Road, The Shops at Laguna Reserve spans four parcels totaling 4.1 acres at the hard-corner, signalized intersection of Whitelock Parkway and Bruceville Road. The property’s six pad buildings were constructed in 2005, with the addition of Safeway in 2024. Current tenants include Starbucks Coffee, Pacific Dental, Bank of America, Round Table Pizza, a nail salon, dry cleaners, pet hospital, pet groomer and specialty food shops. Bill Asher and Jeremy McChesney of Hanley Investment Group represented the buyer, while Adam Rainey, Pat Ronan and Aman Bains of Gallelli Real Estate represented the seller in the deal. The sale included the fee-simple interest in the six buildings and underlying land. Safeway was not part of the transaction.
BRENTWOOD, CALIF. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Westmont of Brentwood, a 132-unit community in Northern California. Built in 2007 and situated on 4.5 acres approximately 45 miles east of Oakland, Calif., the property offers independent living, assisted living and memory care services. The sales price was not disclosed. The buyer, an unnamed private equity group with a background in seniors housing, is partnering with an established West Coast operator that is expanding its presence in California. With the sale of Westmont of Brentwood, the unnamed seller has exited the space. Brad Goodsell, Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of SLIB handled the transaction.