Western

Dwight Mortgage Trust Provides $43M Bridge Loan for Avian Apartments in Colorado Springs

by Amy Works July 21, 2025

COLORADO SPRINGS, COLO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $43 million bridge loan to refinance Avian, a multifamily community in downtown Colorado Springs. Avian features 148 apartments, a parking garage, resort-style pool, gym and work-from-home lounges. Brandon Baksh and Talisse Thompson of Dwight Capital originated the loan for the sponsor, Jackson Dearborn Partners. Dwight closed the loan upon issuance of the initial Temporary Certificate of Occupancy. Proceeds were used to repay the project’s construction loan and fund transaction-related costs.

July 21, 2025

Acquisitions Multifamily Washington Western

CBRE Negotiates $25.5M Sale of Multifamily Property in Spokane Valley, Washington

by Amy Works July 21, 2025

SPOKANE VALLEY, WASH. — CBRE has negotiated the $25.5 million sale of Village on Broadway, an apartment property in Spokane Valley. Josh McDonald, Joe Nydahl and Jordan Louie of CBRE represented the undisclosed seller in the transaction. The name of the buyer was also not released. Located at 12623 E. Broadway Ave., Village on Broadway offers 148 one-, two- and three-bedroom units with in-unit washers/dryers. Community amenities include covered parking, a community garden, dog park, playground and a community barbecue area. The property was built in 1996.

July 21, 2025

Acquisitions Arizona Multifamily Seniors Housing Western

Stellar Senior Living Acquires 152-Unit Community in Marana, Arizona

by Amy Works July 21, 2025

MARANA, ARIZ. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.

July 21, 2025

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Arranges $3.2M Sale of Warehouse in Santa Fe Springs, California

by Amy Works July 21, 2025

SANTA FE SPRINGS, CALIF. — Lee & Associates has arranged the sale of a warehouse and industrial building at 8528 Dice Road in Santa Fe Springs. J.O.R. Real Estate LLC sold the asset to Van Stone Conveyor for $3.2 million. The 12,591-square-foot property features 1,500 square feet of office space, a 2/1,000 parking ratio, 16-foot clearance height and 800 amps of power, as well as a secured yard. Additionally, the asset was sold with a tenant in place under a lease through Oct. 31, 2025. Phillip DeRousse of Lee & Associates – Orange handled the transaction.

July 21, 2025

Acquisitions Colorado Office Western

Unique Properties/TCN Worldwide Brokers Sale of 16,122 SF Office Building in Denver

by Amy Works July 21, 2025

DENVER — Unique Properties Inc./TCN Worldwide has arranged the sale of an office and warehouse property at 4825 N. Oakland St. in Denver. The asset traded for $2.1 million. Greg Knott and Earl Duffy of Unique Properties Inc./TCN Worldwide represented the seller and buyer in the deal. The names of the seller and buyer were not released.

July 21, 2025

Idaho Industrial Loans Western

Bow River Capital Receives $70.3M Refinancing for Park84 Industrial Property in Nampa, Idaho

by Amy Works July 18, 2025

NAMPA, IDAHO — Bow River Capital has received $70.3 million for the refinancing of Park84, a Class A industrial property in Nampa, 20 minutes from downtown Boise, Idaho. Leon McBroom, Rob Bova and Ellie Savage of JLL Capital Markets arranged the floating-rate financing for the borrower. Completed in July 2024, Park84 features seven industrial buildings totaling 605,570 square feet on 47.8 acres. The buildings, which are divisible as small as 16,917 square feet, offer 32-foot clear heights, clerestory and LED lighting, ESFR sprinklers, ample 480V power, outdoor storage and trailer parking.

July 18, 2025

Acquisitions Multifamily Washington Western

MLG Capital Acquires 240-Unit Wellington Apartments in Silverdale, Washington

by Amy Works July 18, 2025

SILVERDALE, WASH. — MLG Capital has entered the Washington market with the acquisition Wellington Apartment Homes, a multifamily property in Silverdale, located approximately 30 miles west of Seattle. Terms of the transaction were not disclosed. The garden-style property features 240 apartments, bayside views, a heated pool, clubhouse, fitness center and dog park. MLG plans to implement interior and exterior renovations, including installing stainless steel appliances, granite countertops and other premium features in all units, as well as improving property curb appeal and enhancing community amenities.

July 18, 2025

Colorado Development Multifamily Western

Grovewood Community Development Opens 81-Unit Affordable Housing Project in Aurora, Colorado

by Amy Works July 18, 2025

AURORA, COLO. — Grovewood Community Development has opened Sapling Grove Apartments, a mixed-income affordable housing property located at 10151 E. Jewell Ave. in Aurora. At full build-out, the two-phase Sapling Grove will offer more than 130 apartments. The 86,553-square-foot first phase features 81 one-, two- and three-bedroom floor plans with energy-efficient appliances, air conditioning, in-unit washers/dryers, walk-in closets and paid utilities. Community amenities include a fitness center, outdoor community gathering spaces with a large, covered picnic area, a playground, public art installations, a furnished rooftop patio, walking trails and an open space with native landscaping. Additionally, the community has a dedicated public space that will provide the greater community access to resources for health and wellness through an onsite Community Resource Center. The second phase will include 50 seniors housing units. Project funding was provided by 22 funding sources, including the City of Aurora, Arapahoe County, the Colorado Division of Housing, the Colorado Housing and Finance Authority, Impact Development Fund, Grow America, Sugar Creek Capital and the Aurora Housing Authority. A significant grant from the Colorado Health Foundation helped fund the property’s outdoor recreation spaces and onsite wellness initiatives.

July 18, 2025

Arizona Development Industrial Self-Storage Western

Garrett Development, Willmeng Break Ground on Self-Storage Facility in Peoria, Arizona

by Amy Works July 18, 2025

PEORIA, ARIZ. — Garrett Development Corp. (GDC), with Willmeng Construction as general contractor, has broken ground on a 110,136-square-foot self-storage facility at 24027 N. Lake Pleasant Parkway in Peoria. Designed by RKAA Architects, the facility will feature 1,129 square feet of office space, 53,939 square feet of storage on the first floor and 55,068 square feet of storage on the basement level. Construction is slated for completion in June 2026, with the facility scheduled to open by third-quarter 2026.

July 18, 2025

Loans Retail Utah Western

Calmwater Capital Provides $22.8M Refinancing for Retail Center in Park City, Utah

by Amy Works July 18, 2025

PARK CITY, UTAH — El Segundo, Calif.-based Calmwater Capital has provided a $22.8 million bridge loan to refinance Kimball on Main Street, a 25,429-square-foot retail center located within the Historic Old Town area of downtown Park City. Stanton Road Capital was the borrower, while DaJuan Bennett of Calmwater internally represented the firm. Originally built in 1990 and renovated in 2018, the property features seven storefronts, a second-floor event space that serves the Sundance Film Festival and a recently constructed three-story building. Kimball on Main Street is currently 83 percent leased and comprises a mix of tenants such as Arhaus, Free People, Sunglass Hut, Romy Park City, We Norwegians and The Collective. Stanton Road Capital acquired the property in 2022.

July 18, 2025

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