Western

Dwight Capital Provides $60M Construction Loan for Apartment Project in Salt Lake City

by Amy Works February 16, 2026

SALT LAKE CITY — On behalf of Lotus Co., Dwight Capital has provided a $60 million HUD 221(d)(4) new construction loan for Lotus Alchemy, a 184-unit apartment development in downtown Salt Lake City. The nonrecourse loan will feature interest-only payments for 24 months and automatically convert to a 40-year fully amortizing loan. The project will include a six-story residential building with a two-level parking garage. The ground floor will include approximately 9,000 square feet of commercial space across three retail units, including a restaurant, and a 2,700-square-foot lobby and leasing office. The third floor will feature an amenity deck with a resort-style pool and spa, a two-story fitness center and a clubhouse with a game loft. Floors four through six will be connected via a sky bridge spanning the central courtyard with panoramic views of the Wasatch Mountains. Additional amenities will include a dog wash, walking path, barbecue station and a community fire pit.

February 16, 2026

Acquisitions California Multifamily Western

CBRE Arranges $26.5M Sale of Multifamily Community in Santee, California

by Amy Works February 16, 2026

SANTEE, CALIF. — CBRE has brokered the sale of La Roca Plaza, an apartment property in Santee. Casa La Roca Apartments LLC acquired the asset from La Roca Plaza LP for $26.5 million. Situated on 4.6 acres, La Roca Plaza offers 100 one-, two- and three-bedroom floor plans. Community amenities include a pool, playground, central courtyard, onsite laundry, high-speed internet access and 154 onsite street parking spaces. Conor Brennan and Rachel Parsons of CBRE represented both the seller and buyer in the deal.

February 16, 2026

Acquisitions California Retail Western

JLL Negotiates $20.3M Sale of Embassy Plaza Retail Center in North Hollywood

by Amy Works February 16, 2026

LOS ANGELES — JLL Capital Markets has directed the sale of Embassy Plaza, a neighborhood retail center in Los Angeles’ North Hollywood submarket. A Los Angeles-based family office acquired the asset from a private seller for $20.3 million. Located at 6050-6140 Lankershim Blvd., Embassy Plaza features 70,121 square feet of retail space anchored by Superior Grocers. At the time of sale, the property was 67 percent occupied. Current tenants include Starbucks Coffee, T-Mobile, Little Caesars and additional shops. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the buyer in the transaction.

February 16, 2026

Acquisitions California Multifamily Western

TruAmerica Multifamily Purchases Two Apartment Communities in West Los Angeles

by Amy Works February 13, 2026

BRENTWOOD AND CULVER CITY, CALIF. — TruAmerica Multifamily has acquired two apartment communities in West Los Angeles — Luxe Villas in Brentwood and Haven Apartments in Culver City. Terms of the transactions were not disclosed. Originally built in 2006 and renovated in 2022, Luxe Villas features one one-bedroom unit, 53 two-bedroom units and six former two- and three-bedroom units currently operating as 18 co-living suites. Community amenities include a rooftop lounge, central courtyard with lounge seating, electric vehicle charging stations and gated parking. Haven Apartments, which was built in 2019, offers 97 studio, one-, two- and three-bedroom layouts and 13,183 square feet of fully leased ground-floor retail space. Onsite amenities include a pool, spa, meditation lounge, clubroom with fireplace, outdoor courtyards with grills and fire pits, a rooftop deck with private cabanas, a billiards lounge, dog run and secure gated access. Orangetheory Fitness, Red Diamond Yoga, Papaya Pet Care and Karak House Coffee occupy the retail space. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, facilitated both sales, while IPA’s Brian Eisendrath and Jake Vitta advised TruAmerica on the debt for each property.

February 13, 2026

Acquisitions Colorado Office Western

Knightsbridge Capital, Westside Investment Partners Buy 112,198 SF Office Building in Englewood, Colorado

by Amy Works February 13, 2026

ENGLEWOOD, COLO. — Knightsbridge Capital and Westside Investment Partners have acquired 400 Inverness, a Class A office building in Englewood. Terms of the transaction were not released. JLL represented the undisclosed seller in the sale, while Colliers advised the seller on leasing. The buyers received acquisition financing through FirstBank, now part of PNC Bank. Located at 400 Inverness Parkway, 400 Inverness offers 112,198 square feet of office space that was originally built in 1997 and most recently renovated in 2025. At the time of acquisition, the property was 93 percent occupied. The ownership group plans to implement a value-enhancement program focused on building upgrades, as well as pursuing proactive leasing initiatives to strengthen the property’s long-term tenancy and cash flow profile.

February 13, 2026

Acquisitions Arizona Industrial Office Western

Meritex Co. Acquires North Mountain Corporate Center in Phoenix for $7.2M

by Amy Works February 13, 2026

PHOENIX — The Meritex Co. has purchased North Mountain Corporate Center, a two-story Class B office building at 10400 N. 25th Ave. in Phoenix, from Macfarlan Capital Partners for $7.2 million. The buyer plans to redevelop the 109,332-square-foot building, which was delivered vacant, into an institutional-quality industrial project. Situated on 7.6 acres, the infill site offers proximity to I-17 and in-place zoning for industrial use. Brian Ackerman, Todd Noel, Kyle Campbell and Matt Baniszewski of Colliers represented the seller. Keri Scott and Alex Kas-Marogi of Newmark will handle leasing for the redeveloped property.

February 13, 2026

Arizona Civic Development Western

Willmeng Construction Delivers 28,272 SF Mesa Gateway Library in Arizona

by Amy Works February 13, 2026

MESA, ARIZ. — Willmeng Construction, as general contractor, has completed Mesa Gateway Library, the first public library to be built in Mesa in 30 years. Located at 5036 S. Eastmark Parkway, the 28,272-square-foot library features a THINKspot makerspace, three video conferencing rooms, a digital art display wall and a dedicated sensory room for the Certified Autism Center, which uses trauma-informed design to select lighting and materials for neurodiverse populations. White Baux Studio designed the interior space. Designed by Richärd Kennedy Architects, the facility features an open market concept unified by a folded roof and a ceiling finished with wood planks.

February 13, 2026

Arizona Market Reports Restaurant Retail Western Western Market Reports

Phoenix Net Lease Retail Demand Holds Strong

by John Nelson February 13, 2026

— By Walt Brown Jr. of Diversified Partners — Metro Phoenix continues to post strong retail market conditions, supported by expansion-ready corridors, dense and established trade areas, sustained population growth and retail sites positioned at major intersections with strong traffic counts. Even with shifting capital markets and more disciplined underwriting, retail remains one of the metro’s more consistent performers heading into 2026. A defining constraint today is the limited availability of well-located, credit-tenant triple-net product for sale. This is particularly true in “A” locations within “A” trade areas. That scarcity is keeping competition elevated for stabilized assets and reinforcing pricing for deals that offer clean income, durable tenancy and long-term visibility. At the same time, demand for credit-tenant, triple-net transactions remains strong across Arizona, with Metro Phoenix continuing to attract a meaningful share of that activity. A key driver has been capital migration and reinvestment from higher-cost Western markets, including owners selling assets in California and the Pacific Northwest and redeploying proceeds into Phoenix-area retail. For many buyers, the appeal is straightforward: growth, demographics and a business climate that supports continued tenant expansion. On the development side, the market remains supply constrained at the top end of quality. Across the …

February 13, 2026

Acquisitions Multifamily Washington Western

Integral NW Sells Allegro Lynnwood Multifamily Property in Washington for $77.5M

by Amy Works February 12, 2026

LYNNWOOD, WASH. — Integral NW has completed the disposition of Allegro Lynnwood, an apartment community located at 16525-16605 Ash Way in Lynnwood. The Housing Authority of Snohomish County acquired the asset for $77.5 million. Bryon Rosen, Tim McKay, Dan Chhan, Matt Kemper, Jacob Odegard, Dylan Roeter, David Karson and Chris Moyer of Cushman & Wakefield represented the seller and procured the buyer in the transaction. Allegro Lynnwood features 240 studio, one- and two-bedroom apartments delivered in two phases — Allegro Ash Creek in 2019 and Allegro at The Woods in 2025. Community amenities include a resort-style outdoor pool and spa, a fitness center, resident clubhouse with social and work-from-home spaces, a dog park, secure underground parking and lofted ceilings in select homes.

February 12, 2026

Arizona Build-to-Rent Loans Single-Family Rental Western

JLL Secures $64.3M in Financing for Two Build-to-Rent Communities in Metro Phoenix

by Amy Works February 12, 2026

LITCHFIELD PARK AND GOODYEAR, ARIZ. — JLL Capital Markets has arranged a total of $64.3 million for the refinancing of two build-to-rent communities in metro Phoenix. Through ORIX Corp., the JLL team secured $33.1 million for the 153-unit Villas Litchfield in Litchfield Park and $31.2 million for the 151-unit Villas Goodyear in Goodyear. The borrower was an affiliate of Blue Vista Capital Management and Family Development. Delivered in 2025, units at the properties include enclosed backyards with green turf lawns, stainless steel appliances, island kitchens with quartz countertops, wood plank-style flooring and in-unit washers and dryers. Community amenities include pools, 24-hour athletic centers, expansive dog parks with no breed or weight restrictions, organic community gardens with citrus trees, electric vehicle charging stations and grill stations with stainless steel grills. Greystar manages both properties.

February 12, 2026

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