PHOENIX — Chicago-based multifamily investment firm 29th Street Capital has acquired Urban 148 in Phoenix. The 148-unit property will be rebranded as Agave Ridge Apartments, and 29th Street Living will handle property management. According to Apartments.com, the community offers two- and three-bedroom floor plans at monthly asking rents ranging from $1,425 to $1,655 and amenities such as a pool, playground, courtyard and dog park. The seller and sales price were not disclosed.
COMPTON, CALIF. — KeyBank Community Development Lending and Investment has provided a $25.9 million loan to finance construction of an affordable housing development at 1434 W. Compton Blvd. in the metro Los Angeles city of Compton. The Coalition for Responsible Community Development (CRCD) has partnered with LandSpire Group to develop the 75-unit community. The project will be a three-story development consisting of studios and one- and two-bedroom units, all of which will be rent restricted at or below 50 percent of the area median income. Additional low-income housing tax credit equity and Freddie Mac permanent financing were secured from Walker & Dunlop. The total project cost was not disclosed, but a California Tax Credit Allocation Committee report from October 2024 lists the valuation at $56.8 million. Amenities will include laundry facilities, a community room, playground, landscaped courtyard, amphitheater-style seating area, sports court, onsite parking and a resident manager. Social services will be provided by CRCD and other community partners. Completion is slated for May 2027. CRCD and LandSpire Group have forged a partnership to create more than 1,000 permanent supportive and affordable housing units across the greater Los Angeles area over the next decade.
EUGENE, ORE. — Senior living brokerage firm The Zett Group has arranged the $18.5 million sale of a community located in Eugene. Built in 1979, the property — Churchill Estates — comprises 241 independent living, assisted living and memory care units. A joint venture acquired the community from the sellers, Ron and Joyce Knutson.
TACOMA, WASH. — Marcus & Millichap has arranged the sale of James Center Plaza, an office building at 1628 S. Mildred St. in Tacoma. A limited liability company sold the property to an undisclosed buyer for $8.6 million. The 34,272-square-foot property features eight medical-dental tenants, all under triple-net lease terms with staggered lease expirations. Michael Babicz and RJ Vara of The Vara Group of Marcus & Millichap’s Seattle office represented the seller in the deal.
PHOENIX — A partnership between Mack Real Estate Group and McCourt Partners has announced updates for the first phase of Halo Vista, the co-developers’ $7 billion, 2,300-acre mixed-use campus in northwest Phoenix. Halo Vista is set to surround TSMC Arizona, the $165 billion semiconductor fabrication campus. The co-developers, which are operating as an entity doing business as Mack Halo Vista LLC, announced that the project will include a new Costco store, two Marriott-branded hotels (a Courtyard by Marriott and a Residence Inn) and an auto mall (i.e. a cluster of car dealerships). Locally based firm Common Bond Development Group is developing the hotels after acquiring the land from Mack Halo Vista. “Today’s confirmation of the first phase of hospitality and retail users marks an important milestone for Halo Vista because it will enable our project to deliver much-needed services in support of the growing TSMC ecosystem, while we simultaneously continue to focus on horizontal infrastructure development that underpins the entire master plan,” says Chris Janson, president of Mack Halo Vista LLC. The new buildings will be situated at I-17 and Dove Valley Road. Infrastructure is in place and ready for development, according to the developers. Last year, the Arizona State …
BOULDER, COLO. — New York City-based investment firm Jonathan Rose Cos. has acquired San Juan del Centro Apartments in Boulder from Related Cos. for $56 million. Jeff Irish and Jordan Skyles of Berkadia arranged the sale of the Section 8 and LIHTC property. Berkadia also provided an acquisition loan. Additionally, the capital stack included equity from the $660 million Rose Affordable Housing Preservation Fund VI. San Juan del Centro’s 150 units are reserved for families earning at or below 60 percent of the area median income. Jonathan Rose Cos. assumed the existing Section 8 Housing Assistance Payment contract, which was set to expire in 2026, and will extend the property’s affordability for an additional 20 years. The asset was originally built in 1971 and was most recently renovated in 2007. The unit mix consists of one- through four-bedroom floor plans. The new owner plans to complete additional renovations at the property, including upgrades to building systems and unit interiors, improvements to the community center and energy-efficiency enhancements aimed at achieving Enterprise Green Communities (EGC) certification. In addition to physical improvements, the firm will also be adding two full-time resident services coordinators. Winn Residential has taken over as property manager.
SEATTLE — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $44 million bridge loan for Seattle-based developer Bode. The financing retires existing construction debt, covers loan transaction costs, funds an interest reserve and supports final construction completion of two assets, Bode Columbia City and Bode Tacoma Dome. Bode Columbia City in Seattle is an 80-unit property featuring one- and two-bedroom floor plans. Bode Tacoma Dome is a 164-unit community in Tacoma, Wash., offering studios and one-, two- and three-bedroom floor plans.
LOS ANGELES — Kidder Mathews has arranged the $32.7 million sale of Holmby Hall, a landmark retail property in Los Angeles’ Westwood Village submarket. Tanel Harunzade and Darrell Levonian of Kidder Mathews, along with former Kidder Mathews agent David Saghian, handled the transaction. Details of the transaction were not released. Located at 921 Westwood Blvd., Holmby Hall offers 50,790 square feet of retail space. Built in 1929 in Spanish Colonial Revival style, the property features a 110-foot clock tower designed by Gordon Kaufmann and John Parkinson. The building is a designated Historic-Cultural Monument.
YUMA, ARIZ. — FD Stonewater’s STAR Evergreen Fund has purchased Alside Manufacturing and Distribution Center in Yuma for an undisclosed price. The asset was acquired through the STAR Fund’s UPREIT structure, providing original investors the opportunity to receive OP Units allowing for a tax-deferred transaction. Associated Materials fully occupies the 326,474-square-foot property, which was purpose-built for the tenant in 2005.
SAN MARCOS, CALIF. — Stos Partners has completed the disposition of 145 N. Pacific Street in San Marcos to a private buyer, finalizing the disposition of its Benchmark Portfolio. The two-property portfolio sold for a combined $10.9 million. The Benchmark Portfolio comprised two freestanding industrial warehouses totaling 28,000 square feet in the submarkets of San Marcos and Poway, Calif. Both properties feature low site coverage and excess land. Stos Partners acquired the portfolio in 2020 in a joint venture with RanchHarbor for $6.1 million through an off-market transaction from an owner-user, which completed a five-year sale-leaseback at closing. Stos Partners implemented targeted capital improvements, repositioning the assets. The company sold the 18,000-square-foot property at 12575 Stowe Drive in Poway in July 2025 for $6.5 million. Tim Clepper of San Diego Commercial represented Stos Partners in the Poway deal. Matt Pourcho, Anthony DeLorenzo and Nick Williams of CBRE represented Stos Partners, while Josh West of Voit Real Estate Services represented the buyer in the San Marcos transaction.
