Western

YUCAIPA, CALIF. — Marcus & Millichap has brokered the sale of Center Point Plaza, a shopping center in Yucaipa. A partnership sold the asset to a private investor for $10.8 million. Located at 33490-33492 Oak Glen Road, Center Point Plaza offers 28,924 square feet of space occupied by a variety of tenants, including retailers, restaurants and medical office users. The property was constructed in 2007. Ivan Prochko, Orbell Ovaness and Ara Rostamian of the Ovaness-Rostamian Group of Marcus & Mililchap’s Los Angeles office represented the seller, while Bashir Tariq of Keller Williams Realty represented the buyer in the transaction.

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10701-NE-59th-St-Vancouver-WA

VANCOUVER, WASH. — Norris & Stevens has arranged the sale of Plainsmen Apartments, a multifamily property in Vancouver. Provision Investments acquired the asset from Dorothy L. Lund for $1.6 million. Located at 10701 NE 59th St., the 12,464-square-foot Plainsmen Apartments offers 16 two-bedroom/one-bath units with in-unit washers/dryers and extra storage space. Built in 1968, the property offers ample onsite parking. Todd VanDomelen and Mike Brown of Portland, Ore.-based Norris & Stevens represented the buyer and seller in the transaction.  

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Hawes-Crossing-Apts-Mesa-AZ

MESA, ARIZ. — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., has broken ground on a three-story, 419-unit Class A multifamily community situated within Hawes Crossing, a 1,100-acre master-planned community in Mesa. Spanning 18 acres, the community will consist of 14 buildings and offer a variety of amenities, including a fitness center with gym, sauna, cold plunge and Zen garden; work-from-home areas; and a 2,000-square-foot entertainment lounge that opens to a courtyard. The courtyard will feature a resort-style pool and spa, festoon lighting and a covered grill lounge. Additional amenities will include pickleball courts, private dining, a leasing lobby, package room, pet spa and park, children’s play area and connectivity to the Hawes Crossing trail system. The project is scheduled to open in summer 2026.

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Citadel-Apts-Castle-Pines-CO

CASTLE PINES, CALIF. — Thompson Thrift has completed the disposition of Citadel at Castle Pines, a 214-unit apartment community in the Denver suburb of Castle Pines. Terms of the transaction were not released. Matt Barnett, Jake Young and Taylor Payne of Walker & Dunlop brokered the sale. Located at 353 Edge View Circle, Citadel at Castle Pines features 154 one- and two-story paired villa-style homes and 60 three-story townhomes. Completed in December 2023, the one-, two-, three- and four-bedroom apartments include designer interiors, quartz countertops, stainless steel and energy-efficient appliances, attached garages and full-size washers/dryers. Community amenities include a resident social lounge, pickleball courts, a 24/7 fully equipped fitness center, resort-style pool and spa, poolside cabanas and grills, a dog park and dog spa.

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UPLAND, CALIF. — Berkadia has arranged $46.7 million in refinancing for Arbor Park Apartments in Upland. The seven-year loan features a 4.6 percent interest rate, full-term interest-only payments and a 65 percent loan-to-value ratio. Allan Freedman of Berkadia Los Angeles secured the loan for the borrower, California-based NNC Apartment Ventures. Located at 859 N. Mountain Ave., Arbor Park Apartments offers 260 garden-style residences.

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4300-4410-W-Union-Hills-Dr-Glendale-AZ

GLENDALE, ARIZ. — Colliers has arranged the sale of Union Crossing, a shopping center located at 4300-4410 W. Union Hills Drive in Glendale. A family office, under the entity of Union Crossing Shopping Center LLC, acquired the asset from Texas-based Union Crossing LLC for an undisclosed price. Situated on 8.5 acres, the 79,044-square-foot property was originally constructed in 1987 and underwent a significant renovation in 2017. Asiana Market, an ethnic-oriented grocer, anchors the property, which includes approximately 20 tenants. Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo of Colliers handled the transaction.

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395-SW-Bluff-St-Bend-OR

BEND, ORE. — Ethos Commercial has secured $6.1 million in acquisition financing for Bluff Street Office, a multi-tenant office located at 395 SW Bluff St. in Bend’s Old Mill District. Built in 2003, the 29,000-square-foot building features three suites, storage and surface parking. At the time of financing, the property was fully occupied with long-term leases. Danny Natsch and Matt Illias of Ethos Commercial Advisors sourced the 70 percent loan-to-value, 10-year fixed-rate loan in the mid 5 percent range through a regional credit union for the undisclosed borrower.

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Market-Street-Village-Apartments-San-Diego-CA

SAN DIEGO — Colliers has arranged the sale of Market Street Village Apartments, a multifamily community in downtown San Diego’s East Village. A private buyer acquired the asset from Equity Residential for $82.2 million, or $359,000 per unit. Located at 699 14th St., Market Street Village Apartments offers 229 market-rate and affordable apartments with full kitchens, dishwashers, large closets, high ceilings, in-unit laundry and vinyl flooring. Onsite amenities include a fitness center, theater screening room, multiple courtyards, a sundeck with a firepit, 406 parking spaces and a clubhouse with a pool and spa. Additionally, the property offers ground-floor retail space anchored by an Albertsons supermarket with a Sav-On Pharmacy and Starbucks Coffee. Kitty Wallace and Anna Kampling of Colliers represented the buyer and seller in the deal.

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FONTANA, CALIF. — EK Apartments has completed the disposition of a nine-property multifamily and retail portfolio in Fontana to undisclosed buyers for $25.5 million. The portfolio includes eight apartment buildings and a four-tenant retail center. The multifamily properties, which were constructed mostly in the 1980s, offer a total of 108 apartments with 70 percent below market rents. The 10,627-square-foot retail center is fully occupied by a mini mart, laundromat, restaurant and dessert shop. Douglas McCauley, David Covarrubias and Bruce Rajaee of Marcus & Millichap represented the seller and procured the buyers in the deal.

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4996-Melrose-Ave-Los-Angeles-CA

LOS ANGELES AND MILPITAS, CALIF. — Gantry has secured $18.9 million in permanent loans for three self-storage facilities in California. The Saf Keep-branded properties offer a total of 2,654 units, with two facilities in Los Angeles and one in Milpitas. Tom Dao and Erinn Cooke of Gantry represented the borrower, a private real estate investor. The three 10-year loans were provided by one of Gantry’s correspondent life company lenders and feature 30-year amortization schedules. The loan terms were structured with exact nonrecourse provisions, generous prepayment windows, ease of execution and competitive rates.

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