MURRIETA, CALIF. — PSRS has arranged $9.5 million in refinancing for Plaza Las Brisas, a retail property in Murrieta. The 43,000-square-foot shopping center, which features 214 parking spaces, was 97 percent occupied at the time of financing. Trevor Blood of PSRS secured the 10-year loan with a 30-year amortization schedule through a correspondent life insurance company for the undisclosed borrower. Loan proceeds refinanced a maturing CMBS loan.
COMMERCE CITY, COLO. — Thrive Preschool has purchased a school property, located at 10000 Chambers Road in Commerce City, for $3.5 million. The 12,014-square-foot property features modern classroom layouts, a fully fenced outdoor play area and ample parking. Thrive Preschool will open enrollment for the new location this fall. Kyle Moyer, Elizabeth Morgan and Cody Stambaugh of Pinnacle Real Estate Advisors represented the buyer in the deal.
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Innovative Design Can Promote Positive Outcomes for Continuum of Care Residents
As the demand for senior living communities continues to rise, so does the complexity of designing environments that meet the evolving needs of residents across the entire continuum of care. Facilities that seek to cater to independent living, assisted living, memory care, skilled nursing and rehabilitation needs must strike a balance: fulfilling stringent functional and regulatory requirements while remaining inviting, promoting connection to nature and others and offering comfort for people of all ages and abilities. The biggest challenge, according to designers and seniors housing experts alike, is “seamlessly weaving protective elements, like perimeter security or grade changes, into a design that feels warm and inclusive, not institutional,” explains Adam Alexander, director of planning, landscape architecture and design at Bohler, a land development design and consulting firm. “Features like fences or bollards don’t need to be emphasized as one-note safety features. They should be invisible contributors to a resident’s experience of comfort and care.” An overall trend toward smaller sites for seniors housing means that continuum of care communities are innovators in inclusive and multi-purpose space use. They may also serve to address increasing calls for solutions to the loneliness epidemic ongoing in the lives of many adults. While less square …
CONCORD AND HAYWARD, CALIF. — BKM Capital Partners and Kayne Anderson Real Estate, the real estate investment arm of Kayne Anderson, have acquired a three-property industrial portfolio in the San Francisco Bay Area. Details of the transaction were not released. CBRE National Partners handled the transaction. Totaling approximately 505,000 square feet across 16 buildings and 94 units, the portfolio consists of institutional quality, light industrial space situated on 34 acres of infill land with access to regional transportation. At the time of sale, the portfolio was 89 percent leased to more than 70 tenants, with unit sizes averaging just over 5,300 square feet. The portfolio includes the 10-building, 245,930-square-foot Concord Industrial Park in Concord as well as the three-building, 176,056-square-foot Huntwood Business Center and the three-building, 82,562-square-foot Hesperian Business Park in Hayward. The Concord asset will be renamed Mount Diablo Industrial Park as part of BKM’s broader repositioning plan.
BURIEN, WASH. — Pillar Properties has completed the recapitalization of The Maverick, an apartment community in Burien, by bringing in Stockbridge Capital Group as a joint venture equity partner. Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper of CBRE represented Pillar Properties in the transaction. Located at 15045 5th Ave. SW, The Maverick offers 229 studio, one- and two-bedroom units. Built in 2017, the property includes a movie theater; two-story, 24-hour fitness center; a yoga center; and a resident club lounge.
MILWAUKIE, ORE. — CBRE has arranged the sale of Axletree Apartments, a multifamily complex located at 11125 SE 21st Ave. in Milwaukie. A private seller sold the asset to an undisclosed buyer for $28 million. Built in 2019, Axletree Apartments features 110 studio, one- and two-bedroom units with in-unit washers/dryers and stainless steel appliances. Josh McDonald and Joe Nydahl of CBRE represented the seller in the deal.
TACOMA, WASH. — Dermody has purchased 40.8 acres of land at 17027-17028 Canyon Parkway East In Tacoma for an undisclosed price. The fully entitled site will become LogistiCenter at Frederickson, a two-building industrial park. Slated for delivery in second-quarter 2026, Building A will offer 443,420 square feet and Building B will feature 91,728 square feet. Additionally, the property will feature a trailer lot. Andrew Hitchcock, Andrew Stark and Zac Snedeker of CBRE are handling leasing for the project. Brett Hartzell of CBRE’s National Partners assisted with the acquisition.
NAPA, CALIF. — Matthews Real Estate Investment Services has brokered the sale of Southgate Mini Storage, a self-storage property located at 1025 Golden Gate Drive in Napa. Terms of the transaction were not disclosed. Shane Avera of Matthews handled the transaction. The seller has owned the 67,980-square-foot property for more than 50 years.
— By Will Moss of MMG Real Estate Advisors — After a turbulent stretch marked by oversupply and softening rents, Salt Lake City’s multifamily market is showing signs of stabilization in early 2025. Demand is returning, rent declines are easing and investor confidence is on the rise, all pointing to a market that may have found its footing. “We’re not calling a full recovery just yet,” says Will Moss, sales agent at MMG Real Estate. “But what we’re seeing is a return to fundamentals, steady demand, measured construction and buyers who are ready to transact again.” In first-quarter 2025, net absorption reached 1,044 units, outpacing the 894 units delivered and marking the first time in over a year that demand exceeded new supply. Over the past 12 months, approximately 4,500 units were absorbed, well above the metro’s historical average. Demand Rebounds, But Challenges Linger Salt Lake City mirrors national trends where improved economic confidence and easing inflation have begun to unlock pent-up housing demand. Notably, demand has been strongest among mid-tier renters, though even luxury properties, despite being the main source of new supply, posted a 1.8 percent rent increase year-over-year. Still, rents overall declined 0.3 percent annually, continuing a …
BELLEVUE, WASH. — Skanska Commercial Development, with Pickard Chilton as architect, has completed The Eight, a 25-story office tower at 10770 NE 8th St. in Bellevue. The 799,933-square-foot tower features ground-floor retail space, an office lobby, publicly accessible lobby lounge, column-free floor plates, 14-foot ceilings and an independent pavilion. Project partners included Skanska USA as general contractor, Adamson Associates as architect of record, Magnusson Klemencic Associates as structural engineer and Michael Hsu Office of Architecture as interior designer.