Thursday, April 23, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Western

Crismon-Gateway-Village-Mesa-AZ
ArizonaDevelopmentMixed-UseMultifamilyOfficeRestaurantRetailWestern

CCR North Starts Construction of Phase II at Crismon Gateway Village in Mesa, Arizona

by Amy Works

MESA, ARIZ. — CCR North LLC has started construction on Phase II of Crismon Gateway Village, an approximately $40 million mixed-use project situated at the northeast corner of Crismon and Baseline roads in Mesa. The second phase will bring a mix of tenants, including Martin Dental, Vantage West and Sassy’s Café & Bakery. Current tenants include Black Rock Coffee, Bella Nail Bar, Filiberto’s, Radius Fitness and Doc’s Artisan Ice Cream. Upon completion, the master-planned community will include 22,040 square feet of retail, restaurant and office space and a 128-unit multifamily property with individual suite patios. Mary Nollenberger and Nicole Ridberg of SVN/Desert Commercial Advisors are handling leasing efforts for the development.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaLoansMultifamilyWestern

KeyBank Arranges $39M in Financing for Monte Vista Apartment Homes in Southern California

by Amy Works

LA VERNE, CALIF. — KeyBank Real Estate Capital has secured $39 million in Fannie Mae Green financing for San Diego-based MG Properties Group. The borrower will use the loan to refinance Monte Vista Apartment Homes in La Verne. Built in 1972 and renovated in 2018, the 207-unit community comprises 18 two-story apartment buildings on 14 acres. Since 2016, MG Properties has spent more than $6 million on exterior renovations and interiors renovations for 151 units. MG plans to finish renovations, which will cost approximately $1 million, to the remaining 56 units. Peter Kurzeka of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged the financing.

Continue Reading
FacebookTwitterLinkedinEmail
Southport-Office-Park-San-Diego-CA
AcquisitionsCaliforniaOfficeWestern

Voit Brokers $8.7M Sale of Southport Office Park in San Diego

by Amy Works

SAN DIEGO — Voit Real Estate Services has arranged the sale of Southport Office Park, an eight-building office complex located in San Diego’s National City submarket. Dan Floit, a San Diego-based private investor, acquired the asset from San Diego-based H.G. Fenton Co. for $8.7 million. Totaling 33,894 square feet, the office park is located at 102, 132 and 202 Miles of Cars Way; 2403, 2435, 2425 and 2427 Hoover Ave.; and 2405 Transportation Ave. Michael Mossmer and Curt Perry of Voit Real Estate Services represented the seller, while Mark Caston and Spencer Kerrigan, also of Voit, represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNevadaRetailWestern

BK National Solutions Sells 25,892 SF Gramercy Commons Retail Center in Las Vegas for $6.3M

by Amy Works

LAS VEGAS — BK National Solutions LLC has completed the disposition of Gramercy Commons Retail Center, a multi-tenant retail building in Las Vegas. Manjinder Saini acquired the asset for $6.3 million. Located at 5752 S. Fort Apache Road, the property features 25,892 square feet of retail space. Roy Fritz, Cathy Jones, Paul Miachika, Taylor Vasquez and Dylan Heroy of Sun Commercial Real Estate represented the buyer, while Logic Commercial Real Estate represented the seller in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaMarket ReportsMultifamilyWesternWestern Market Reports

San Diego’s Multifamily Market Outpaces Its 2018 Performance

by Taylor Williams

San Diego continues to exhibit very strong fundamentals with a healthy and diversified economy, as well as a continued shortage of housing supply. The unemployment rate of 3.3 percent is below both the California and national unemployment rate. Tourism, biotech, healthcare, education, military/defense, drone manufacturing, business services, software and other high-tech industries have made San Diego a magnet for venture capital and other business investment, creating the jobs of the future. Amazon, Apple and several other high-profile technology companies have also announced expansions in San Diego. The region attracted $744 million in venture capital this past year alone. Local housing policies, which have been unfriendly to new development, have made it very expensive to build, thereby perpetuating the shortage of housing. This dynamic has continued to bode well for multifamily investment in the region. CBRE’s Apartment Market Report for the end of the second quarter illustrates the following year-on-year changes from 2018: • The vacancy rate moved 9 basis points to 3.6 percent • Rental rates increased by 2.9 percent • New construction deliveries dropped by 14 percent • Sales volume included 95 transactions with a total dollar volume of $476 million (compared to 32 sales transactions last year that …

Continue Reading
FacebookTwitterLinkedinEmail
900-Kearny-St-San-Francisco-CA
AcquisitionsCaliforniaOfficeWestern

Brick and Timber Collective Buys Office Building in San Francisco for $27M

by Amy Works

SAN FRANCISCO — Newcastle Partners and Drake Real Estate Partners have completed the sale of 900 Kearny Street, an office building located in San Francisco’s Jackson Square submarket. Brick and Timber Collective LLC acquired the property for $27 million. Built in 1989, the six-story building features 30,000 square feet of creative office space. At the time of sale, the property was fully occupied by EastWest Bank, Bitmami and Novani, among others. The sellers originally purchased the asset in 2017 for $17 million and renovated the property by adding open office spaces and single-floor suites. Ben Bullock, David Dokko and Thomas Foley of HFF represented the sellers in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsColoradoMultifamilyWestern

Newmark Knight Frank Brokers $23M Sale of Multifamily Property in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — Newmark Knight Frank – Colorado has arranged the sale of Park Ridge, a multifamily property located in Colorado Springs. Park Ridge Apartment CS LLC sold the asset to Park Ridge SRP LLC for $23 million. Located at 2602 W. Serendipity Circle, the property features 204 apartments. Kevin McKenna and Saul Levy of Newmark Knight Frank – Colorado Multifamily handled the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Rivage-Portland-OR
AcquisitionsMultifamilyOregonWestern

Fore Property Sells 260-Unit Rivage Apartment Community in Portland, Oregon

by Amy Works

PORTLAND, ORE. — Fore Property has completed the disposition of Rivage, a multifamily property located at 2220 NW Front Ave. in Portland. Magnolia Capital acquired the asset for an undisclosed sum. Rivage features 260 units in a mix of studio, one- and two-bedroom layouts, with a rooftop deck overlooking the Willamette River. At the time of sale, the podium-style property was stabilized. Fore Property, with funds from Carlyle Realty Partners VII and financing from PNC Bank, developed the property in 2017.

Continue Reading
FacebookTwitterLinkedinEmail
One-Lakeside-Center-Idaho
DevelopmentIdahoLoansMultifamilyWestern

Newmark Realty Capital Arranges $22M in Development Financing for Residential Tower in Northern Idaho

by Amy Works

COEUR D’ALENE, IDAHO — San Francisco-based Newmark Realty Capital (NRC) has arranged $22 million in development and construction financing for One Lakeside Center, a 15-story residential tower on the north shore of Lake Coeur d’Alene in Northern Idaho. Demetri Koston of NRC’s Spokane, Wash., office arranged the financing for the undisclosed borrower through a New York-based national bank lender. Situated one block from the water’s edge in Coeur d’Alene, One Lakeside Center will feature 69 residential units, a parking garage and a ground-floor commercial suite. Additional details of the project were not released.

Continue Reading
FacebookTwitterLinkedinEmail
Wind-Crest-Highlands-Ranch-CO
ColoradoDevelopmentMultifamilySeniors HousingWestern

Erickson Living Plans Two-Building Seniors Housing Expansion in Highlands Ranch, Colorado

by Amy Works

HIGHLANDS RANCH, COLO. — Erickson Living has unveiled plans for a two-building residential expansion at Wind Crest, a continuing care retirement community (CCRC) in Highlands Ranch, about 15 miles south of Denver. The property already opened an expansion in 2019, an independent living building named Prospect Crossing. The two new buildings, named Summit Square and Quincy Point, will add more than 200 independent living units. They are both scheduled to open in 2020. The expansion will also include 18,000 square feet of amenity space, including outdoor space, multiple new restaurants, a second fitness center and other shared spaces.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts