Western

Marcus & Millichap Brokers $20.2M Sale of El Dorado Apartments in Belmont, California

by Amy Works May 5, 2026

BELMONT, CALIF. — Marcus & Millichap has directed the sale of El Dorado Apartments, a multifamily community in Belmont. The assed traded for $20.2 million, or $518,910 per unit. Robert Johnston, Adam Levin and Arman Sadigh of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Constructed in 1962, El Dorado Apartments features 39 units in a mix of one- and two-bedroom layouts. Unit interiors have been upgraded and select units have washers/dryers, dishwashers, stainless steel appliances, modern cabinetry and kitchen islands. Community amenities include a fitness center and private covered parking.

May 5, 2026

Acquisitions Colorado Company News Industrial New York Northeast Top Stories Western

Global Net Lease Agrees to Acquire Modiv Industrial in $535M Deal

by John Nelson May 5, 2026

NEW YORK CITY AND DENVER — Global Net Lease Inc. (NYSE: GNL), a New York City-based net lease REIT, has entered into a definitive merger agreement to acquire Modiv Industrial Inc. (NYSE: MDV), an industrial REIT based in Denver. The acquisition, which has been approved by the boards of directors for both companies, is valued at $535 million. Modiv Industrial owns and operates single-tenant industrial properties that are occupied by manufacturers on long-term net leases. According to the company, it is the only publicly traded REIT that exclusively focuses on ownership of manufacturing facilities. Recently announced transactions include Modiv acquiring a Fujifilm-occupied facility in Santa Clara, Calif., and agreeing to sell a facility in Melbourne, Fla., that is leased to Northrop Grumman. The merger deal will grow Global Net Lease’s holdings of mission-critical industrial properties. Though the number of properties involved was not released, multiple media outlets report that Modiv owned 39 industrial facilities at the time of sale. For Modiv, the transaction is expected to increase annual dividend payments by 25 percent for the combined company. No senior level executive changes are expected to occur as a result of the merger. Under terms of the all-stock transaction, holders of …

May 5, 2026

California Loans Multifamily Western

JLL Arranges $46.3M Refinancing for Multifamily Community in Long Beach, California

by Amy Works May 4, 2026

LONG BEACH, CALIF. — JLL Capital Markets has arranged $46.3 million in refinancing for 200 W. Ocean, a 106-unit multifamily community in downtown Long Beach. Jeff Sause, Jacob Michael and Thomas Gonzalez of JLL represented the undisclosed borrower in the financing. The property is an adaptive reuse of a former Class B office building that was redeveloped into a multifamily property atop a three-story subterranean garage. Delivered in August 2022, the community features an amenity deck with a pool and fireplaces, a fitness center and smart-entry features.

May 4, 2026

Development Multifamily Oregon Western

Joint Venture Breaks Ground on 369-Unit Apartment Community in Beaverton, Oregon

by Amy Works May 4, 2026

BEAVERTON, ORE. — High Street Residential, the residential subsidiary of Trammell Crow Co., along with joint venture partners SCOA Real Estate Partners and Lease Crutcher Lewis have broken ground for the development of a transit-oriented, mixed-use multifamily property in Beaverton. Slated for delivery in summer 2027, the project will replace a portion of the Cedar Hills Shopping Center and its underutilized surface parking. Situated on 5.8 acres between S.W. Wilshire Street and Park Way, the community will offer 369 apartments spread across three four- and five-story buildings and 5,040 square feet of ground-floor retail space. The studio, one-, two- and three-bedroom residences will range from 483 square feet to 1,528 square feet and feature contemporary floor plans. Onsite amenities will include an indoor/outdoor fitness area with a full spa, including an outdoor sauna and cold plunge, a residents-only speakeasy, sports bar, community greenhouse, sports simulator and a coworking area with conference rooms. Additionally, the property will offer direct access to Cedar Hills Crossing, proximity to Highways 26 and 217 and a short walk via a pedestrian bridge to the Sunset Transit Center. The project team includes LRS Architects, CID Design Group, Lango Hansen Landscape Architects, Humber Design Group, Froelich Engineers, Tenor …

May 4, 2026

Acquisitions California Office Western

BH Properties Sells Office Campus in Ontario, California to MGR Real Estate for $24.7M

by Amy Works May 4, 2026

ONTARIO, CALIF. — BH Properties has completed the disposition of Lakeview, a Class A office campus in Ontario, to MGR Real Estate for $24.7 million. Situated on a 7.8-acre site, the asset consists of two three-story buildings offering a total of 106,345 square feet, as well as 1.85 acres of excess land. The campus was built in late 2004 as part of the master-planned Centrelake Business Park. Paul Jones, Brandon White and Kevin Shannon of Newmark represented the seller, while Michael Rademaker and Tony Hermosillo of MGR Real Estate represented the buyer in the deal.

May 4, 2026

California Healthcare Loans Western

Matthews Capital Markets Secures $22.5M Acquisition Loan for Medical Office Portfolio in California

by Amy Works May 4, 2026

OXNARD, CALIF. — Matthews Capital Markets has secured a $22.5 million acquisition loan for a four-property medical office and regional center portfolio in Oxnard. Geoffrey Arrobio of Matthews Capital Markets handled the financing. The undisclosed borrower acquired the 193,066-square-foot portfolio at a 10 percent cap rate. Located at 1701 and 1801 Solar Drive, 1901 Rice Ave. and 2401 E. Gonzalez Road, the portfolio was 92 percent occupied at the time of sale. The borrower plans to execute a value-add business plan that includes expanding certain medical uses, interior building upgrades and implementing energy-efficient systems, including solar.

May 4, 2026

California Development Hospitality Mixed-Use Multifamily Restaurant Retail Western

Shopoff Realty Breaks Ground on Westminster Mall Redevelopment Project in Orange County

by Amy Works May 1, 2026

WESTMINSTER, CALIF. — Shopoff Realty Investment has broken ground on Bolsa Pacific at Westminster, a mixed-use redevelopment of the vacant Westminster Mall in Orange County. Designed by AO, the project will transform the former mall into a 83.3-acre downtown destination. Upon completion, Bolsa Pacific will feature 2,250 residential units, 220,000 square feet of retail and restaurant space, a 120-key hotel and more than 15 acres of publicly accessible open space. The residential component will include market-rate and affordable housing, as well as for-sale townhomes spread across five multifamily buildings. Demolition of the former Westminster Mall is underway. The existing Target will remain open during construction, with a new store planned and relocated within the overall development. The project is located along the 405 Freeway and 10 minutes from the Los Angeles County border. In 2024, the scope of the initial project expanded from a 25.8-acre assemblage to encompass the full 83.3-acre former mall site. The expansion enables a comprehensive reimagining of the property that will transform the single-use retail center into a connected mixed-use district.

May 1, 2026

3563-3593-Timber-Mill-Pkwy-Castle-Rock-CO

Colorado Industrial Loans Western

Northmarq Arranges $20M in Financing for Castle Rock Industrial at The Meadows in Colorado

by Amy Works May 1, 2026

CASTLE ROCK, COLO. — Northmarq has secured $20 million in permanent-fixed financing for Castle Rock Industrial at The Meadows, an industrial distribution and warehouse facility located at 3563-3593 Timber Mill Parkway in Castle Rock. The borrower is Sound Capital. Arranged through one of Northmarq’s insurance company lending relationships, the financing provided a seven-term with 3.5 years of interest-only payments followed by a 30-year schedule with stepped down prepayment flexibility. The financing was part of a 1031 exchange for two nearly constructed industrial/warehouse buildings that are 100 percent occupied. Built in 2023, Castle Rock Industrial at The Meadows features two buildings on 13.6 acres totaling 157,870 square feet. The buildings feature 24-foot ceilings, 101 parking stalls, 30 docks, including 14 knockouts and 12 drive-ins for loading. The property is fully occupied under triple-net leases. Charles Cotsalas and Ernest DesRochers of Northmarq’s New York Area Debt + Equity team arranged the financing for the borrower.

May 1, 2026

Industrial Loans Oregon Self-Storage Western

Signal Ventures Receives $15.5M Construction Loan for Self-Storage Development in Bend, Oregon

by Amy Works May 1, 2026

BEND, ORE. — Signal Ventures has obtained $15.5 million in construction financing for the development of Badger Road, Bend Self Storage, a ground-up self-storage facility located at 20130 Badger Road in Bend. Jonah Aelyon, Taylor Simian and John Williamson of JLL Capital Markets secured the loan through Live Oak Bank for Signal Ventures. Brian Somoza and Adam Roosien of JLL’s National Self Storage team handled the site transaction. The shovel-ready development will deliver 118,800 gross square feet with 92,584 net rentable square feet across 877 climate-controlled units.

May 1, 2026

Acquisitions Arizona Multifamily Western

Stoneweg Sells 194-Unit Apartment Community in Mesa, Arizona to Rise48 Equity

by Amy Works May 1, 2026

MESA, ARIZ. — Stoneweg has completed the disposition of Avenue 8, a garden-style multifamily property in Mesa. Rise48 Equity acquired the asset for an undisclosed price. Brett Polachek, Chris Chanter and Brad Goff of Newmark represented the seller in the transaction. Located at 1050 W. 8th Ave., Avenue 8 features 194 open-concept, two-bedroom/two-bath apartments averaging 1,000 square feet in size. All units include in-unit washers/dryers, private patios or balconies and abundant storage. Community amenities include a resort-style swimming pool and spa, fitness center, pet park and covered parking.

May 1, 2026

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