DENVER — NorthPeak Commercial Advisors has arranged the acquisition of two multifamily buildings in Denver. The assets traded for $4 million, or $181,818 per unit. The names of the seller and buyer were not released. Located at 1050-1058 Pearl St., the properties offer 22 apartments in total across 17,258 square feet in space. Dan Hawthorne of NorthPeak Commercial Advisors represented the undisclosed buyer in the deal.
SAN JOSE, CALIF. — JLL Capital Markets has arranged joint venture equity for the $95 million acquisition of The Plant, a regional power center located at 1 Curtner Ave. in San Jose. Geoff Tranchina, Gleb Lvovich, Eric Katherin, Daniel Tyner and Conor Quinn of JLL’s Investment and Sales Advisory team worked on behalf of the operator, Milan Capital Management, to arrange the equity investment through Arc Capital Partners. Spanning 35.5 acres in Silicon Valley, the 367,869-square-foot shopping center was built in 2008. At the time of sale, the property was 64 percent occupied. Current tenants include Best Buy, Ross Dress for Less, PetSmart, Ulta Beauty, Off Broadway, Starbucks Coffee, IHOP, McDonald’s, Panda Express, El Pollo Loco, Chase Bank and Five Guys.
SIMI VALLEY, CALIF. — USA Properties Funds has completed the disposition of The Landing at Arroyo, a multifamily property in the Los Angeles suburb of Simi Valley. A private multifamily investor purchased the 212-unit community for $95 million, or $448,113 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 2022 on 10 acres, The Landing at Arroyo offers apartments spread across seven buildings, a swimming pool, spa, game room, fitness center, coworking space and central package lockers for deliveries. Apartments feature washers/dryers, stainless steel appliances, quartz countertops and designer plumbing and lighting fixtures.
KIRKLAND, WASH. — CBRE has brokered the sale of Heronfield, a multifamily community located at 11105 N.E. 123rd Lane in Kirkland. Terms of the transaction were not released. Eli Hanacek, Mark Washington and Kyle Yamamoto of CBRE represented the undisclosed seller in the transaction. Situated about 16 miles northeast of Seattle, Heronfield offers 202 one-, two- and three-bedroom apartment, averaging 939 square feet in size. The units feature spacious floor plans with large windows, and many of the units have been renovated with new plank flooring, wood burning fireplaces and updated kitchens with quartz countertops. Community amenities include an indoor/outdoor pool, a clubhouse, 24-hour fitness center and playground. Additionally, the asset is adjacent to 28 acres of preserved natural land.
VAN NUYS, CALIF. — LaTerra Development has received an $18.2 million construction loan for the development of Raymer Self Storage, a fully entitled self-storage facility at 14876 Raymer St. in Van Nuys. JLL Capital Markets secured the two-year construction loan through Calmwater Capital LLC. Slated for completion in 2025, the 65,220-square-foot Raymer Self Storage will replace an existing warehouse and industrial building on the 1.2-acre site. The new facility will house 1,017 units consisting of 705 mini-storage units and 312 locker units. Property amenities will include 24-hour surveillance, controlled access, climate-controlled units and rooftop solar panels. Public Storage will operate and manage the facility.
CENTENNIAL, COLO. — Marcus & Millichap has brokered the sale of Offices of Southglenn, an office property located at 6590 S. Vine St. in Centennial. A limited liability company sold the asset to a local veterinarian for $1.8 million. At the time of sale, the 11,589-square-foot building was 40 percent occupied. The buyer plans to renovate the property and establish a surgical veterinary center. Brandon Kramer and Chadd Nelson of Marcus & Millichap represented the seller in the deal.
PERRIS, CALIF. — A joint venture between DECA Cos. and Wildcat Capital Management has obtained a $135 million loan to finance the ground-up development of Perris Gateway, an industrial development in Perris. Bank OZK provided the senior portion of the loan, while Affinius Capital originated the subordinate portion. Perris Gateway will feature 850,000 square feet of industrial space with 40-foot clear ceiling heights, 124 dock-high doors, four drive-in doors and 4,000 amps of power. Additionally, the property will offer 348 auto parking stalls and 308 trailer parking stalls. The joint venture will use the loan proceeds to finance the construction and lease up-of Perris Gateway, which will be available for lease in 2025.
VERNON, CALIF. — CBRE has arranged the sale of a 7-acre industrial redevelopment site located at 1925 and 1936 E. Vernon Ave. in Vernon. A confidential buyer acquired the asset from The Alavern Co. for $61.5 million. The property currently houses a five-story, 368,500-square-foot building. Barbara Perrier, Eric Cox, Jeff Stephens, Jack Mergenthaler and John Hillman of CBRE represented the seller, while Jack Cline, Evan Jurgensen and Andy Gage of Lee & Associates represented the buyer in transaction.
SOUTH LAKEWOOD, COLO. — S2 Capital has purchased Dartmouth Woods, a garden-style apartment property in South Lakewood, a suburb of Denver, for an undisclosed price. Located at 10025 W. Dartmouth Ave., Dartmouth Woods offers 201 apartments in two- and three-story buildings. The buyer will implement interior renovations, including stainless steel appliances, modern lighting, new flooring and updated cabinets, along with extensive renovations to the exterior and amenities space. Dartmouth Woods was built in 1990.
NORTH LAS VEGAS, NEV. — NAI Excel has directed the sale of Strongbox Lamb Industrial Center in North Las Vegas. Strongbox Development sold the asset to a national cabinetry manufacturer for $16.5 million. The undisclosed buyer plans to occupy the 89,284-square-foot, Class A warehouse as its primary manufacturing and distribution hub on the West Coast. Situated on 4.5 acres, the property was completed in August 2024. Bryan Houser of NAI Excel represented the seller, while Sean Zaher of CBRE represented the buyer in the transaction.