Thursday, June 19, 2025
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Content PartnerFeaturesIndustrialLoansMidwestMultifamilyNortheastSelf-StorageSoutheastTexasWestern

Part 1: Navigating the Financing Landscape: What’s Driving Activity Today?

by Sarah Daniels

By David DiRienzo, director — business development, at Talonvest Capital, Inc. This is part one of a two-part series discussing the key drivers behind transaction volume and the steps owners can take to ensure they are well-positioned going forward. Much has been written about the decline in transaction volumes over the last 24 months. There is no question that properties are changing hands at a slower pace compared to the activity seen during the low interest rate environment that prevailed during the pandemic. Even so, many investors continue to seek out financing to address a variety of circumstances. In today’s market, beyond simply refinancing due to an upcoming loan maturity, three scenarios have been driving financing activity among owners of self-storage, multifamily and industrial assets: restructuring debt as a project evolves, elective refinancing to improve performance and capitalizing on a new business plan. We will cover the first theme below in part one of this two-part series. Business Plan Progression Offers Opportunities for Owners to Unlock Value As a business plan evolves and the asset matures, it’s beneficial for owners to reassess their capital stack to optimize investment performance and maximize their goals. Completing a refinance at a natural project inflection …

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CaliforniaLoansMultifamilyStudent HousingWestern

JLL Secures $45M Acquisition Financing for Garden Village Student Housing Community Near UC Berkeley

by Amy Works

BERKELEY, CALIF. — JLL Capital Markets has secured $45 million in financing for Hawkins Way Capital’s acquisition of Garden Village, a student housing community in Berkeley. Located at 2201 Dwight Way, Garden Village offers 77 residential units for students. The property will be operated as the FOUND Study Southside Berkeley and will be managed by FCL Management. Built in 2016 near the University of California, Berkeley (UC Berkeley), the mid-rise property offers a mix of two- and four-bedroom floor plans, a rooftop farm and flower garden, secured access, outdoor patios, an indoor lounge, laundry room, fitness center and bike storage. The community consists of 18 buildings, totaling 64,301 square feet. Brandon Smith, Annie Rice and Gyasi Edmondson of JLL Capital Market’s Debt Advisory arranged the two-year, floating-rate loan through Limekiln Real Estate Investment Management. The financing package includes an initial funding of $36 million, with an additional $9 million available for future funding.

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1382-E-Foothill-Blvd-Upland-CA
AcquisitionsCaliforniaDevelopmentIndustrialSelf-StorageWestern

Buchanan Street Partners Buys Metro Los Angeles Development Site, Plans 1,180-Unit Self-Storage Project

by Amy Works

UPLAND, CALIF. — Buchanan Street Partners has acquired a 2.1-acre site located at 1382 E. Foothill Blvd. in Upland for $6.2 million from a private owner/developer in an off-market transaction. Buchanan Street Partners plans to redevelop the site, which is located approximately 37 miles east of Los Angeles and is currently occupied by a vacant medical office building, into a Class A self-storage facility. The new four-story, 123,000-square-foot property will offer 1,180 self-storage units. Construction will begin immediately, with completion slated for January 2026. DAI General Contracting is the general contractor, and Wintrust Bank is providing construction financing for the project.

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AcquisitionsCaliforniaProperty TypeRestaurantRetailWestern

Hanley Investment Group Arranges Sale of Multi-Tenant Retail Pad in Fresno, California

by Amy Works

FRESNO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Shops at Broadway Faire, a multi-tenant, net-leased retail pad property in Fresno. Built in 1995 on 1.4 acres, the 15,000-square-foot retail pad is located at 3367-3385 W. Shaw Ave. At the time of sale, the property was fully leased by five tenants: Red Robin, which occupies 47 percent of the property; FedEx Office, which recently signed a new 10-year lease; Conroy’s Flowers, which recently executed a new 10-year renewal; Liquor 4U, which extended an additional five years with a rental increase; and OneMain Financial, which exercised its five-year extension option. Eric Wohl and C.J. Kiehler of Hanley Investment Group Estate Advisors represented the seller, a New York-based real estate investment trust, while the buyer, a local private investor, was self-represented in the transaction. The sales price was not disclosed.

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AcquisitionsColoradoIndustrialWestern

Malman Commercial Real Estate Negotiates $4.5M Sale of Industrial Building in Denver

by Amy Works

DENVER — Malman Commercial Real Estate has arranged the sale of 4600 Ironton Street, an industrial property in Denver. GS Ironton LLC sold the asset to Aspen Ironton LLC for $4.5 million. The property offers 37,636 square feet of industrial space. Jake Malman and Dan Prevedel of Malman Commercial Real Estate represented the seller, while Taylor Roy, also with Malman, represented the buyer in the deal.

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AcquisitionsColoradoRestaurantRetailWestern

Quantum Directs $1.8M Sale of Starbucks-Occupied Retail Property in Lakewood, Colorado

by Amy Works

LAKEWOOD, COLO. — Quantum Real Estate Advisors has arranged the sale of a freestanding retail building in Lakewood. A West Coast-based private trust sold the asset to a West Coast-based family for $1.8 million. Starbucks Coffee occupies the property, which was sold for 100 percent of list price. Nick Hilgendorf and Zack Hilgendorf of Quantum Real Estate Advisors represented the seller, while Matt Lipson of Northmarq represented the buyer in the transaction.

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Market ReportsMultifamilyNevadaWesternWestern Market Reports

Reno’s Multifamily Market Adapts to Higher Rates, Election Year Dynamics

by John Nelson

— By Ben Galles, senior vice president of CBRE — Interest rates have been the biggest factor for Reno’s multifamily market this year, reaching some of the highest levels seen in a long time. The market for multifamily properties in Northern Nevada has been slow to adjust to the new lending environment, with sellers unwilling to price assets at a rate of return that would provide most buyers with positive leverage. In other words, the interest rate on loans used to purchase many of the current listings is higher than said property’s cap rate. Multifamily sales volume in Northern Nevada is down 14 percent compared to the same time last year. One of the major drivers for the drop in sales volume is that only three deals have secured bank debt, with the average loan to value (LTV) of those loans being roughly 48 percent. While cash transactions have represented more than 58 percent of the transactions, a large percentage of deals have involved owner financing. Some owners who needed to move their assets over the past 12 months found that offering below-market interest rate owner financing was a significant selling point. Many of the deals that closed with owner …

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AcquisitionsMultifamilyTop StoriesWashingtonWestern

JLL Arranges $286M Sale of Parkside Apartments in Redmond, Washington

by Taylor Williams

REDMOND, WASH. — JLL has arranged the $286 million sale of Parkside Apartments, a 664-unit apartment community in Redmond, a northeastern suburb of Seattle and home market of Microsoft. The seller was a partnership between a Texas-based group of investors, previously associated with Dallas-based Lincoln Property Co. Residential and Daiwa House Texas. The buyer was Lakevision Capital, a Silicon Valley-based multifamily investment firm that was founded in 2018. David Young, Corey Marx and Chris Ross of JLL represented the seller and procured the buyer in the transaction. Puget Sound Business Journal reports that the sale is the largest multifamily transaction in 2024 for Washington’s Puget Sound region. Buil in 2021 on 4.5 acres within the Esterra Park master-planned community, Parkside Apartments consists of four five- to eight-story buildings that house studio, one- and two-bedroom units. Residences feature quartz countertops, stainless steel appliances, private balconies, walk-in closets and individual washers and dryers. Amenities include multiple rooftop decks and fitness centers, as well as a pet wash station, entertainment suite and a game lounge. “Parkside Apartments exemplifies the vibrant, well-connected living experience that is highly sought after in this thriving tech region,” said Jason Byrne, who is managing member for the investment. — …

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Market ReportsMultifamilyWashingtonWesternWestern Market Reports

Growth in Sales Volume, Pricing Define Seattle’s Multifamily Market

by John Nelson

— By Dylan Simon, executive vice president, Kidder Mathews — This summer marked a major milestone in Seattle’s apartment market, demonstrating signs of vibrancy with increases in rental rates, growing liquidity and clarity in pricing in capital transactions. The city is gaining momentum and continues to bounce back from recent market fluctuations and the harsh impacts of the pandemic. Urbanization is here to stay — corporate employers are voting against Zoom as an effective tool — as we trend back toward human nature, which requires community and proximity. With limited new construction breaking ground, the stage is set for sustained rental rate growth, which will invariably result in a surge in sales prices. Transaction Activity on the Rise Transaction activity is steadily on the rise in Seattle’s multifamily market, proving conviction from the investment community. This uptick offers greater clarity on property values as the market adjusts from peak interest rates back in fall 2023. For owners and potential sellers, this shift suggests pricing hit a bottom in the past nine months and the only direction in pricing from here is upward. In our recently launched third-quarter Seattle market report, we’ve uncovered key sales insights that underscore this resurgence. During the …

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CaliforniaLoansOfficeWestern

Nuveen Green Capital Closes $220M in C-PACE Financing for 200 Park Avenue Office Building in San Jose

by Amy Works

SAN JOSE, CALIF. — Nuveen Green Capital, on behalf of Jay Paul Co., has closed $220 million in C-PACE financing for 200 Park Avenue, an office building in San Jose. Commercial Property Assessed Clean Energy (C-PACE) provides flexible financing solutions for new, ongoing or recently completed commercial real estate projects. The financing was used to recapitalize the building’s sustainability and resiliency measures. Designed and developed by Jay Paul Co., the 19-story tower offers 965,000 square feet of Class A office space, including 24,300 square feet of outdoor terraces, four levels of underground parking and a 20,500-square-foot fitness and amenity center. Matt Cimino and Bruce Ganong of JLL Capital Market’s Debt Advisory represented the sponsor in the financing transaction.

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