SAN DIEGO AND LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California. Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing through Berkadia’s proprietary lending group on behalf of the undisclosed buyer. The bridge-to-HUD loans feature interest-only payments for 24 months.
SAN DIEGO — CBRE has arranged the sale of La Plaza La Jolla, a multi-tenant retail ground lease located at 7863-7877 Girard Ave. within La Jolla Village in San Diego. A private family office acquired the asset from La Plaza Investment for $10.2 million. Built in 1986 and renovated in 2015, the 28,866-square-foot property is fully leased to a mix of restaurant, boutique and experiential tenants. Michael Peterson, Reg Kobzi and Jimmy Slusher of CBRE represented the seller in the transaction.
LAS VEGAS — Avison Young has facilitated the sale of an 18,000-square-foot retail property located at 6315 S. Rainbow Blvd. in Las Vegas. A Las Vegas-based private trust sold the asset to Syndicate MMA, a mixed martial arts gym and property tenant since 2019, for $6.6 million. Syndicate MMA occupies 15,000 square feet of the building, with a salon and medical practice occupying the remaining space. Hillary Steinberg and Corina Towle of Avison Young represented the seller, while Kevin Jacobson of Iron Will LLC represented the buyer in the deal.
MESA, ARIZ. — CBRE has arranged $45.6 million in financing on behalf of InTrust Property Group for the acquisition and renovation of Coral Point Apartments in Mesa. Shaun Moothart, Doug Birrell, Bruce Francis, Bob Ybarra, Nick Santangelo, Anna Britt and Amber Coleman of CBRE secured the three-year, floating-rate loan, which features full-term interest-only payments and two extension options. Brightspire Capital was the lender. Situated on 15.9 acres, Coral Point comprises 24 two-story buildings offering a total of 377 apartments. Community amenities include three swimming pools, two spas, a clubhouse and business center, a fitness center, outdoor barbecue areas and a play area. The sponsor’s value-add strategy includes plans to install washers and dryers in every unit, refresh exteriors and activate amenities.
SCOTTSDALE, ARIZ. — Los Angeles-based DEM Inc. has purchased 55 Resort Scottsdale, an active adult community in Scottsdale, from Dallas-based Velocis Edison McCormick JV LP for $32.7 million. Matt Roach, Chris Roach, Brad Cooke and Cindy Cooke of the Cooke Multifamily Team at Colliers handled the transaction. Located at 9449 N. 90th St. within the McCormick Ranch master-planned community, the three-story 55 Resort Scottsdale offers 102 core active adult units averaging 671 square feet. Apartments feature quartz countertops, tiled showers with benches, full-sized washers/dryers and private patios or balconies. Community amenities include a resident lounge, community bar and fireplace within the Club House, a fitness center, wellness studio and space for group yoga, fitness and health-related programs. Additional amenities include a resort-style heated pool and spa, an outdoor firepit, outdoor lounge areas, a rooftop deck, community library, business center, clubroom, dog wash station and bike wash. The property also offers carports for residents, as well as electric vehicle charging stations. The property was completed in 2025.
NAMPA, IDAHO — Walseth Investment Co. has acquired Building B at Madison Logistics Center, a three-building logistics center in Nampa, from a regional developer for an undisclosed price. Situated on 5.9 acres at 16685 Madison Road, the 115,008-square-foot Building B features 5,000 square feet of office space, a clear height of 32 feet, 28 dock-high doors, four grade-level doors, 155 parking stalls and 2,000 amps and 480V 3-phase power. The facility, which was completed in 2023, offers divisible suite options for tenant flexibility. Michael McNeight and Devin Ogden of Colliers represented the seller and are leading leasing efforts for the property. Nick Viscount of Keystone Mortgage arranged debt financing with a life company lender for the buyer.
BERKELEY, CALIF. — Flying Horse Investments LLC (FHI) has acquired Shattuck Plaza, a 29,187-square-foot, street-front retail property located in downtown Berkeley, with plans to renovate the center. Renovations will include lease-ready storefronts on the 17,767-square-foot ground-level. The building’s 11,430-square-foot lower-level space will also be reactivated to feature community-serving tenants, such as fitness, education and wellness concepts. The renovation is expected to begin immediately, with FHI targeting approximately six to nine months for initial building upgrades and another six to nine months for tenant build-outs, subject to permitting and city approvals. D-Scheme Studio and Aecore Inc. will lead the redevelopment, while Pegasus Asset Management will oversee property and construction management. The Econic Co. will handle leasing for the property. Bolour Associates financed the acquisition and Pegasus Capital Markets served as debt advisor for the transaction. Nicolas Bicardo of Newmark represented the seller, Hill Street Realty (HSR), which originally acquired the property in October 2012. In March 2021, following a condominium adjustment that formally separated the retail portion from the movie theater and office components of the property, HSR sold the latter portion of the property to Article Student Living, while retaining ownership of the retail frontage.
EVANS, COLO. — The Boulder Group has brokered the sale of a single-tenant retail property located at 3312 11th Ave. in Evans. A commercial real estate development company sold the asset to a California-based 1031 exchange investor for $2.2 million in an all-cash transaction. Dollar General occupies the property, which was built in 2022, on a long-term lease with rental increases every five years and no landlord responsibilities. Zach Wright and Brandon Wright of The Boulder Group represented the seller in the deal.
SAN FRANCISCO — Macy’s and TMG Partners have formed a venture to explore the potential redevelopment of the retailer’s flagship store on Union Square in San Francisco’s retail district. TMG will help Macy’s conduct a “strategic assessment” of the property to explore the viability of renovations and enhancements that will “align with the needs of today’s office workers, residents, visitors, retail and local businesses.” The Union Square location will remain open through the 2025 holiday season and into first-quarter 2026. Further updates on plans and next steps for the Union Square site will be shared in the coming months. In February 2024, Macy’s originally announced plans to close Union Square as part of a larger sell-off of store properties nationwide; however, the company said its store would not close until it found a buyer for the 700,000-square-foot property, as disclosed by several media sources. The Union Square flagship store has been in operation since 1929 and is one of the retailer’s largest and oldest locations.
DENVER — Laramar Group plans to break ground this fall on Colfax & Colorado, a multifamily property in Denver within walking distance of 9+CO, a 26-acre mixed-use hub. Located at 1565 Colorado Blvd., Colfax & Colorado will feature a six-story, wood-framed building with two levels of above-grade parking. Construction is slated to begin this winter, with the first unit deliveries expected in fall 2027. The property will offer 155 studio, one- and two-bedroom apartments averaging 730 square feet. Onsite amenities will include a rooftop deck with panoramic views of City Park and the Rocky Mountains, a high-end fitness center, clubroom, multiple coworking spaces and secure parking for 152 vehicles.