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Rancho-Vista-Apts-Ontario-CA
AcquisitionsCaliforniaMultifamilyWestern

Clear Capital Sells 125-Unit Multifamily Community in Ontario, California for $46.3M

by Amy Works

ONTARIO, CALIF. — Clear Capital has completed the disposition of Rancho Vista Apartments in Ontario to Convenient Holdings for $46.3 million, or $370,200 per unit. Built in 1984, the community offers 125 two- and three-bedroom apartments, averaging 1,022 square feet. Unit amenities include direct access to two-car garages with washer and dryer connections, private balconies off the primary bedrooms, central conditioning and heat. Community amenities include a cardio and weight training center, swimming pool, picnic area, private yards, fully furnished sundecks, a children’s park and on-site maintenance. Additionally, the previous owner installed a solar panel electric system that offsets residents’ energy bills. Alexander Garcia Jr., Kyle Pinkalla, Chris Zorbas, Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

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3210-W-Slauson-Ave-Los-Angeles-CA
CaliforniaLoansRetailWestern

JLL Arranges $32M Loan for Crenshaw Plaza Retail Center in Los Angeles

by Amy Works

LOS ANGELES — JLL Capital Markets has secured a $32 million senior loan for Crenshaw Plaza, a shopping center located at 3210 W. Slauson Ave. in Los Angeles. The borrower is a joint venture between the principals of 21 Alpha Group and Intelligent Design Real Estate. Originally built in 1967 and renovated in 2004, Crenshaw Plaza offers 146,901 square feet of retail space. The asset is currently 97 percent leased and anchored by a new 15-year lease with Vallarta Supermarkets. Additional tenants include Planet Fitness, Foot Locker and AutoZone. Spencer Bergthold, Charles Halladay and Daniel Skerrett of JLL Capital Markets Debt Advisory arranged the three-year, floating-rate loan through Forbright Bank. Loan proceeds will be used to refinance the existing loan, cover closing costs and fund future leasing expenses.

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Sterling-Grove-Surprise-AZ
ArizonaLoansRetailWestern

Common Bond Development Receives $16.5M in Financing for Sterling Grove Shopping Center in Surprise, Arizona

by Amy Works

SURPRISE, ARIZ. — Common Bond Development Group has received $16.5 million in senior financing for Sterling Grove Shopping Center, a grocery-anchored retail property located at 17124 W. Peoria Ave. in Surprise. Developed by the borrower in 2023, Sterling Grove is fully occupied by a mix of national and regional tenants, including Safeway as anchor tenant. Other tenants include a Safeway Fuel station, McDonald’s, Starbucks Coffee and Taco Bell. Jason Carlos of JLL Capital Markets led the Debt Advisory team in securing the permanent financing through a correspondent relationship with Nationwide on behalf of the borrower.

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4100-Central-Ave-Riverside-CA
AcquisitionsCaliforniaRestaurantRetailWestern

SRS Brokers $6.8M Ground Lease Sale of Restaurant Property in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — SRS Real Estate Partners has brokered the ground lease (land ownership) sale of a restaurant property located at 4100 Central Ave. in Riverside. A Southern California-based developer sold the asset to a Washington-based private investor for $6.8 million. Raising Cane’s occupies the 3,267-square-foot property, which was built in 2024 on 1.3 acres, on a corporate-guaranteed, absolute triple-net, 15-year ground lease. Patrick Luther and Matthew Mousavi of SRS Capital Markets represented the seller in the transaction.

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CalPoly-FullStack-Apts-San-Luis-Obispo-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

California Polytechnic State University to Begin 4,200-Bed Residence Hall Project

by Amy Works

SAN LUIS OBISPO, CALIF. — California Polytechnic State University (Cal Poly) is set to begin construction on a 4,200-bed residence hall project on the university’s campus in San Luis Obispo. The development will include nine buildings offering suite-style units for second-year students. The project is being developed by FullStack Modular utilizing modular construction methods off-site. The development will be the first large-scale use of modular construction within the California State University system, according to FullStack. Manufacturing on the project is set to begin early this year with the first phase of buildings expected for completion in fall 2026. “Affordable housing is such a big problem — especially on the West Coast — and we need to think differently about how we approach housing and continue to improve the process,” says Mike McCormick, vice president of facilities management and development at Cal Poly. “We’ve assembled a team of professionals committed to rethinking how we deliver housing and FullStack Modular’s innovative approach is a huge part of that.”

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BevMo! and Staples are tenants at the 600,000-square-foot The Plaza at Golden Valley in Santa Clarita, Calif.
CaliforniaLoansRetailWestern

Gantry Arranges $46.5M in Refinancing for Shopping Center in Santa Clarita, California

by Amy Works

SANTA CLARITA, CALIF. — Gantry has arranged $46.5 million in permanent loans for the refinancing of The Plaza at Golden Valley, a regional power center in Santa Clarita, a northern suburb of Los Angeles. Located at 19001-19415 Golden Valley Road, the property offers more than 600,000 square feet of total leasable space. Current tenants include Trader Joe’s, Staples, BevMo!, TJ Maxx, Panera Bread, Chili’s, PetSmart, Popeyes, McDonald’s, Chipotle, Bath & Body Works, Daiso, The Habit Burger and The Kebab Shop. The asset is shadow anchored by Target, Lowe’s Home Improvement and Kohl’s. Tony Kaufmann, Alex Poulos and Joe Foley of Gantry represented the borrower, a single private real estate investor, in the financing. The 10-year, fixed-rate loans were placed with two of Gantry’s insurance company correspondents and feature interest-only introductory periods, nonrecourse terms and 30-year amortizations. Gantry will service the loans.

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Red-Table-Apts-Gypsum-CO
ColoradoLoansMultifamilyWestern

JLL Provides $18.7M Loan for Red Table Apartments in Gypsum, Colorado

by Amy Works

GYPSUM, COLO. — JLL Capital Markets has provided an $18.7 million Freddie Mac loan for Red Table Apartments, a multifamily property in Gypsum. Tony Nargi of JLL Capital Market’s Debt Advisory led the team that arranged the 10-year, fixed-rate loan on behalf of the borrower, Brikwell. Located at 765 Red Table Drive, Red Table Apartments offers 77 studio, one- and two-bedroom units in a three-story building. Units feature hard surface LVP flooring, stainless steel appliances and butcher box countertops. Situated on 3.5 acres, the community offers commercial laundry facilities, a basketball court, community grills, a picnic patio area and 45 attached and detached garages. The property was built in 2009 and expanded in 2018.

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AcquisitionsArizonaMultifamilyWestern

Goodegg Investments Acquires 71-Unit North Edge Apartments in Phoenix

by Amy Works

PHOENIX — Goodegg Investments has purchased North Edge Apartments, a 71-unit, Class B apartment complex in Phoenix.  Terms of the transaction were not released. North Edge Apartments has undergone significant value-add renovations over the last two years, with most of its units, as well as common areas, renovated and upgraded. The asset is the 38th multifamily acquisition that Goodegg Investments has undertaken since the company’s inception in 2018.

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AcquisitionsCaliforniaDevelopmentIndustrialLee & AssociatesWestern

Silagi Development Buys 3-Acre Industrial Development Site in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Silgai Development & Management has acquired a 3-acre development parcel located at the southwest corner of Meridian Parkway and Authority Road in Riverside for an undisclosed price. Mario Calvillo of Lee & Associates Riverside represented the buyer, while Finn Comer of Lee & Associates represented the undisclosed seller in the deal. At the time of sale, the site was entitled with construction drawings for two industrial buildings totaling 45,751 square feet. The buyer plans to develop the 21,139-square-foot and the 24,612-square-foot facilities. Groundbreaking is slated to begin in the second quarter of 2025. The buildings will be available for sale or lease.

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Town-Deer-Valley-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

Rockpoint, Related Sell Town Deer Valley Apartments in Phoenix for $131.1M

by Amy Works

PHOENIX — A venture between Rockpoint and The Related Group has completed the disposition of Town Deer Valley, a multifamily community in Phoenix, to Goodman Real Estate for $131.1 million, or $337,887 per unit. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 2024 on 18 acres, Town Deer Valley offers 388 apartments with stainless steel refrigerators, single-door access to patios and balconies with exterior storage, and smart home automation packages. Community amenities include a 5,900-square-foot clubhouse with an arts and crafts room, a poker room and La Galere sundry shop; a 3,800-square-foot fitness center building; and a pool area with a swimming pool and a wading pool with submerged loungers.

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