| Wealhouse Capital Management and Western Wealth Capital Land $185 Mil Refinancing on AZ Res Portfolio
A venture between Wealhouse Capital Management and Western Wealth Capital has secured $185.63 mil in refi money on a 1,439-unit Arizona multifamily portfolio. The collateral consists of five properties in the Phoenix area.
| Wright Runstad & Company and Intercontinental Real Estate Corporation Break Ground on 10-Story Seattle Tower Project
In the latest development news out of Seattle, Wright Runstad & Company, in partnership with Intercontinental Real Estate Corporation, has broken ground on 400 University @ Rainier Square, a 10-story, 122k sf Class A “jewel b...
| Entity of Pepperdine University Scoops Up Two Malibu Office Buildings
Two office buildings totaling 39.6k sf of space within the Malibu Professional Park were acquired for $17.5 mil ($442/sf) by Wave Enterprises, a 501(c)(3) charitable entity of Pepperdine University. The assets were sold by Mi...
| Forge Development Partners to Transform Underutilized San Francisco Property into Workforce Housing
Forge Development Partners (Forge) has formed a venture with Fifth Church of Christ, Scientist to transform the underutilized Church property at 450 O’Farrell St in San Francisco into a 310-unit, high-tech rental home communi...
| Burbank Development Site Trades in $40 Mil Deal
An eight-acre development parcel in the city of Burbank traded hands in a $40 mil transaction. The site is located at 777 Front St, on the south side of Burbank Blvd in the city’s downtown, and offers over 1,100 feet of front...
| Unique, 29-Acre Oceanfront Property in Hawaii Listed for Sale at $18 Mil
We like to share with our readers the occasional, unique real estate listing within our western U.S. coverage area, and today we’ve got another such newsbrief to mention. The property is Marconi Station, an approximately 29-a...
| Omninet Closes Two L.A. Area Office Buys in Deals Totaling $78 Mil
Omninet, a Beverly Hills-based venture capital firm, has acquired two L.A. area office properties in deals totaling $78 mil. The properties, Park Del Amo in Torrance and Commerce Plaza in the City of Commerce, were acquired f...
| MBK’s Urban Res Development in Menifee Finishes Construction and is Now Leasing
Artesa at Menifee Town Center, a Spanish mission-style apartment community developed by MBK Rental Living in Menifee, is now completed and available for leasing. Offering urban-style living in a walkable, small-town setting, ...
| Amazon Buys AZ Industrial Asset for Its Last Mile Distribution Program
Amazon recently acquired a vacant, 106.8k sf industrial property in Tempe, AZ for $14.15 mil ($132.50). The property, located at 1516 W. 17th St, will be used as part of their “Last Mile” Distribution Program.
Rick Lee and C...
| Decron Properties Buys 188-Unit Bay Area Res Property for $71.5 Mil
Decron Properties has acquired Rancho Luna Sol, a 188-unit multifamily community in Fremont, CA for $71.5 mil, or $380.3k/unit. With its acquisition of Rancho Luna Sol, Decron increased its regional portfolio to 1,054 units o...
| Unique Pacific Palisades Coastal Vineyard Property Hits the Market
We’ve learned of an opportunity to acquire a unique, 1.5-acre coastal vineyard estate with a storied past in the SoCal community of Pacific Palisades. The property is perched on a crest overlooking Las Pulgas Canyon and the P...
| Lincoln Property Company Buys 425k sf Vegas Industrial Asset
Lincoln Property Company (LPC) has purchased Hughes Airport Center, an industrial portfolio consisting of six buildings totaling 425.8k sf of space within the desirable Las Vegas airport submarket. The acquisition, marking Li...
| Bridge Investment Group Buys 339-Unit Sacramento Multifamily Community
The Fountains at Point West, a 339-unit multifamily property in Sacramento, was acquired by Bridge Investment Group, out of Salt Lake City, in an $85.15 mil transaction. The property, viewed as a value-add opportunity, is loc...
| Longfellow Real Estate Partners Closes Biz Park Buy in San Diego’s Sorrento Mesa Area
In a recent San Diego biz campus buy, Longfellow Real Estate Partners purchased Sorrento Tech campus in Sorrento Mesa for $39 mil. The property is comprised of three creative office/R&D buildings totaling more than 93.5k sf (...
| Oakmont Properties Pays Over $300k/Unit for CO Multifamily Asset
Oakmont Properties has purchased Fusion 355, a 286-unit multifamily property in Broomfield, CO, for $90 mil, or around $315k/unit. The asset, located at 355 Eldorado Blvd, was sold by AG Spanos, out of Stockton.
Built in 201...
| $17.3 Mil Buys Multi-Tenant Office Property in Arizona
A 57.7k sf, multi-tenant office property in Scottsdale, AZ was acquired for $17.3 mil ($300/sf) by Valwood Element LLC. The property, known as Element, is located at 14614 N. Kierland Blvd.
Situated within the prestigious K...
| Greystone Provides $116 Mil in Freddie Mac Loans on Three L.A. Res Portfolios
Here’s a quick Freddie Mac multifamily financing update, as Greystone has provided $116.4 mil in Freddie Mac loans to refinance three separate portfolios. The portfolios contained a total of 34 workforce housing properties, a...
| IRA Capital Pays $676/sf for OC Medical Office Building
IRA Capital paid $38.4 mil for a 56.8k sf ($676/sf), medical office building in Santa Ana. Based in Irvine, IRA Capital is a real estate private equity firm.
Located at 2212 E. 4th St, just west of the 55 Fwy, the property i...
| George Oliver Adapts Downtown Chandler Redevelopment in Response to COVID
In light of the COVID-19 pandemic, Phoenix-based developer George Oliver is making changes to build tenant confidence and position its latest redevelopment project, The Alexander, now under construction in downtown Chandler, ...
| Oakmont Properties Buys 453-Unit, Luxury Res Project in Salt Lake City
Oakmont Properties purchased Hardware Apartments, a 453-unit, Class A luxury resort-style apartment community located at 455 West 200 North in Salt Lake City for an undisclosed amount. The property was sold by KBS Real Estate...