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October 27, 2021
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Bridge Housing and PATH Ventures Break Ground on Affordable Housing Communities in the L.A. Area
New developments in Long Beach and West Carson are both being built by R.D. Olson Construction

Hyatt Regency Waikiki Beach Resort & Spa Lands $450 Mil Refi Loan
JLL arranges new financing for 1,230-room asset on behalf of Mirae Asset Global Investments

Invesco and Lincoln Property Group Buy New Seattle Office Building
Nine-story building in city’s South Lake Union area offers lif science conversion opportunity

Waterford Property Company and California Statewide Community Development Authority Close $127 Mil Anaheim Multifamily Buy
Partnership to convert 265-unit 1818 Platinum Triangle to middle income housing

Klingbeil Capital Management Makes 137-Unit Multifamily Buy in the East Bay Area
$49.5 mil deal is for Avery at TownCentre in Brentwood

SB Real Estate Partners Adds 124 Res Units in the Inland Empire to Its Portfolio
Firm pays $46.2 mil for ReNew Redlands

CGI+ Real Estate Strategies to Start Work on Major Mixed-Use Development in L.A.’s Miracle Mile District
639 S. La Brea to contain a hotel, res units and retail space

Intercontinental Real Estate Corporation Acquires Vegas Area Last Mile Distribution Facility
147k sf warehouse is in the Henderson submarket

LaSalle Investment Management Closes on $155.6 Mil Vegas Res Buy
456-unit Ely at The Curve sold by The Calida Group.

HCF Development Acquires 170-Unit Berkeley Res Property in $100 Mil Transaction
Purchase of K Street Flats works out to near $600k per unit

New 23-story Upscale Res Development in L.A. Opens Its Doors to First Tenants
Rents at $300 mil Kurve on Wilshire can hit $31k per month for best penthouse units

Bioscience Properties and Harrison Street Spend $41 Mil on Sorrento Mesa Office Asset
Venture likely to convert two-building Sorrento Heights property into a life science campus

Arizona Res Community Purchased by Local Investor in $56 Mil Transaction
Trade is of 352-unit Solano Vista in Glendale

FPA Multifamily Buys 98-Unit OR Res Community for $30 Mil
Firm purchases Hidden Village in West Linn from Guardian Real Estate Services

Kennedy Wilson to Master Develop Mixed-Unit Community in Partnership with California State University Channel Islands
32-acre Camarillo project will include 589 residential units

Abacus Capital Group Closes $144 Mil Multifamily Buy in Washington
Firm buys The Ridgedale Apartment Homes, a 334-unit property in Bellevue

Meridian Pays $1,200/sf for Beverly Hills Medical Plaza
$81.5 mil purchase is firm’s most expensive acquisition to-date

Tailwind Investment Group Closes 197-Unit Res Buy in the Inland Empire
Dalan Management and VM Management collect $53.6 mil from sale of The Vue in San Bernardino

Vestar to Develop Trio of New Phoenix Area Retail Centers
Projects to total over 650k sf of space at a combined cost of around $90 mil

Black Creek Group Acquires 494k sf Industrial Campus in Vista
North County Corporate Center sold for $147.5 mil by Barings

$300 Mil in Financing Deals Arranged by JLL Capital Markets and George Smith Partners
Two Bay Area transactions are for an office refi and a residential construction project

TruAmerica Multifamily Boosts Texas Portfolio with $46.7 Mil Res Buy
Firm buys 270-unit The Estates at Canyon Ridge in San Antonio

SimonCRE Picks Up AZ Retail Center for $17.6 Mil
205k sf Mesa Ranch Plaza is currently 32% vacant

Kennedy Wilson Spends $265 Mil on Two Seattle Multifamily Communities
Purchases of The Bristol at Southport and Geo boost the firm’s portfolio by 547 units

MG Properties Group Spends $108 Mil on Denver Res Community
238-unit Neon Local Apartments goes for $455k/unit

Strategic Office Partners Completes $132 Mil Office Buy in Arizona
Deal is for two newly constructed buildings in Tempe

Upscale Santa Monica Res Property Sells for $1.84 Mil per Unit
38-unit property on Ocean Ave acquired for $70 mil by Asian investor

Burbank Medical Office Building Bought by GPI Companies in $24 Mil Transaction
51k sf property was 90% leased at time of sale

George Oliver to Redevelop Hayden Station Mixed-Use Property in Downtown Tempe, AZ
$41 mil project to be renamed as Arbor

Dostart Development Company and Sares Regis Group of Northern California Lock in $182 Mil of Construction Money for Burlingame Office Development
Newmark arranges financing for 184k sf 220 Park project

Alere Property Group Underway with Two Warehouse Projects in Chino
State-of-the-art developments will total 626k sf of space

TMG Partners Closes $220 Mil Investment Account
Capital expected to be used for $625 mil of Bay Area investments

Kennedy Wilson Spends $134 Mil on 332-Unit CO Multifamily Property
Purchase of Griffis Marston Lake in Denver works out to over $400k per unit

Trio of LA-Area Single-Tenant Sales Total Up Over $100 Mil
Deals include a Home Depot, an Amazon Fresh and a record price-breaking Chick-Fil-A

Juniper Square and CrowdStreet Create New Partnership to Streamline Investment Management
Venture will synchronize offering, investor and distribution information

LIVWRK / Daniel Kotzer Venture to Redevelop Historic Property in Downtown L.A.’s Arts District
Two-building, 63k sf asset to be converted into a modern, Class A office/lifestyle project

Trammell Crow Company Buys 40 AZ Acres for Logistics Development
Elliot Gateway in Mesa will contain 517k sf in four buildings

CH Realty Partners LLC and Blumenfeld Development Group Pay $57 Mil for Inland Empire Industrial Facility
300k sf Harvill Logistics Center was built and sold by Rockefeller Group

Waterford Property Company and California Statewide Community Development Authority Spend Over $200 Mil on Two Res Communities in the City of Orange
Venture plans to lower rents on many of the 356 units to make them affordable for middle income households

Phoenix Apartment Property Sells for $60 Mil
The Amara draws a $200k/unit buyer

Jamestown Closes 250k sf Seattle Office Purchase
Firm pays around $250 mil for two-building Home Plate Center in city’s downtown

Tucson Lifestyle Center is Acquired in $165 Mil Transaction
Macerich Company sells 246k sf La Encantada

Newmark Knight Frank Awarded Leasing Assignment for San Francisco Office Tower
42-story One Sansome Street owned by a venture of Barker Pacific Group and PGIM Real Estate

Downtown Denver Office Development Secures $77 Mil in Construction Money
Cushman & Wakefield arranges financing for Schnitzer West’s 12-story The Current River North

Agoura Hills Office Asset Trades for $18.5 Mil
Two-building Platinum Court goes for $185/sf

Commercial Financing Briefs
Recent transactions from Greystone, George Smith Partners, NorthMarq and Cushman & Wakefield

Hines Pays $800 Mil for PG&E’s 1.6 msf Office Complex in Downtown San Francisco
Two-building purchase marks largest property sale ever in the city

Carillon Point Campus in Washington Recapitalized with $190 Mil Financing
Multi-building office complex includes a hotel and a 200-slip lakefront marina

High-End Res Development in Downtown Seattle Tower Opens to Public
The Residences at Rainier Square occupy floors 39-58 at new mixed-use high-rise

Overton Moore Properties Spends $35 Mil on Gardena Industrial Asset
10.8-acre property contains six buildings totaling 262k sf of space

The Ledges at West Campus in Tucson Acquired for $33.75 Mil by Tara Investment Group
205-unit res property was built in 1997

BentallGreenOak Buys 1.25 msf AZ Industrial Facility in Record Deal
Purchase of Park 303 Phase I building in Gilbert for $186 mil marks highest priced single-building industrial sale in Arizona history

Gelt Inc Buys 312-Unit OC Res Property in $146 Mil Deal
The Oasis Anaheim was sold by Redhill Realty Investors

Balboa Fun Zone Lands in Chartwell Real Estate Development’s Acquisition Zone
Unique Newport Beach asset sold by Discovery Cube

New 90k sf Office/Retail Building Completes LeBeau Realty & Associates’ Twenty by Six Office Center in Downtown San Diego
$35 mil project was built by C.W. Driver Companies

Santa Clarita Multifamily Community Traded for $54 Mil
Built in 1988, The Retreat offers 148 units

Foley Entertainment Group is Welcomed to the Hotel Californian
121-room Santa Barbara hotel recently underwent a major redevelopment

American Assets Trust Spends $83 Mil on Office Campus in Washington State
Four-building Corporate Campus East III contains 160k sf of space

CP Group and Related Fund Management Buy Downtown Denver’s Granite Tower
593k sf office high-rise sold by KBS

The Ezralow Company Spends $32 Mil on Two AZ Multifamily Communities
Ascend at Kierland and Elite North Scottsdale total over 720 units

Cruzan and Independencia Asset Management Spend $37 Mil on Burbank Post-Production Facility
Fully leased, 95k sf building sold by Strategic Office Partners

Arbor Lodging Properties Buys Newly Constructed AC Hotel at Arizona Center
199-room asset was sold by LaPour Partners, NewCrest Image and Peachtree Hotel Group

San Diego Office Market Rebounding from Pandemic Impact
Cushman & Wakefield’s Q3 MarketBeat Office Report offers a positive outlook for the market

San Francisco Office Market Expected to Pick Up
Latest market update from Kidder Mathews points to recovery on the horizon

Third Quarter 2021 Silicon Valley Office Sales Hit Their Highest Level in Two Years
Per latest Kidder Mathews research, asking rates increase while absorption declines year over year

Commercial Real Estate Values Return to Pre-Pandemic Levels in Many Markets
CBRE survey points to a continuing recovery throughout the first half of 2021

Phoenix Registered Second-Most Data Center Leasing in North America in First Half of 2021
CBRE report points to strong demand for data centers as markets see an increase in supply and absorption

LoopNet vs. Crexi: Which is Better for Net Lease Property Sales?
The answer is revealed in this recent video posted on The REview

Midyear Market Sentiment Survey Reveals Rising Optimism for CRE Performance into 2022
Transwestern research shows that indexes for office, medical office, industrial and retail are all up significantly

U.S. Commercial Real Estate Investment Recovering Rapidly
Per the latest research from CBRE, investor inquiries and newly launched deals have recovered to near-2019 levels

Multifamily Remains the Most Attractive Asset Class for SoCal Investment Activity
Per latest research from CBRE, office assets geared towards growth industries continue to attract capital, while more traditional properties are seeing noticeably reduced interest

U.S. Industrial Market Posts 100 msf Positive Net Absorption for 3rd Qtr 2021
Top markets in the country include Dallas-Fort Worth and the Inland Empire

Return to the Office is Key to the Industry’s Future in Portland
CBRE 2nd Quarter Marketview report takes a look at how the numbers are trending

ZMR Capital Pays $90 Mil for AZ Multifamily Property
Deal is for 320-unit The Julia in Mesa

Brixton Capital Purchases 312-Unit Multifamily Community in Texas
Firm buys Mason Park in Katy from Hilltop Residential

Tempe, AZ Res Community Gets New Ownership After $45 Mil Deal
Rise48 Equity LLC buys 197-unit La Cresenta Park and Gardens

Two-Property Hotel Portfolio in the Pacific Northwest Trades
Deal is for Homewood Suites Vancouver-Portland in Vancouver, WA and Homewood Suites Portland Airport in Portland, OR

DWG Capital Partners Picks Up Two-Building HQ Property in Texas
Deal is for M. Roberts Media facilities in Longview

S2 Capital Partners Picks Up 432-Unit Phoenix Res Community
Oxford Apartment Homes sold by Knightvest Capital

Seefried Industrial Properties and Crow Holdings Capital Have Begun Work on 633k sf Distribution Center in Avondale, AZ
Two-building 101 at Van Buren represents the second phase of Avondale Commerce Park

Credi Gramercy Pays $13.9 Mil for Vegas Industrial Property
PSi Commerce Center Phase I consists of two buildings totaling 73k sf

DocuVault Pays $17.8 Mil for 155k sf Colorado Building
Firm to occupy 53k sf of West Sixth Commerce Center in Lakewood and lease the rest

Opus Development Corp Buys 20 Acres of Colorado Development Land
Firm to build two 150k sf industrial facilities on the Centennial site

Hercules Industries Buys Phoenix Industrial Building
Firm to occupy vacant, 141k sf property

Hybridge Capital Management and Productive Capital Associates Close on $40 Mil Student Housing Buy in Denver
Venture picks up 360-bed The Villas

Yahee Technologies Agrees to Lease 200k sf Spec Industrial Facility in Ontario
Project is a development of Duke Realty Corporation

New $61 Mil Language Arts and Social Science Building Completed at Orange Coast College
108k sf facility was built by C.W. Driver Companies

Comunale Properties and Stevens-Leinweber Construction Start work on AZ Industrial Project
Chandler Connection will add 201k sf of Class A space to the Chandler Airport industrial submarket

OR Last-Mile Facility Fetches $218/sf
130k sf Salem property previously had been solar panel plant operated by Panasonic

Santa Ana Medical Office Building Gets New Owner in $30 Mil Deal
54k sf asset sold by Meridian

Rexford Industrial Realty Completes Two SoCal Industrial Property Buys, One Land Purchase and One Property Sale
Firm’s acquisitions total $285 mil

Phoenix Flex Building Sale Comps at $147/sf
63k sf facility sells for $9 mil

MCA Realty Closes on $71 Mil in Industrial Acquisitions
The company buys five assets in Washington, Las Vegas and Orange

SPC Acquisition Company Buys 130k sf OR Distribution Building
Salem facility sells for $217/sf

Global Mutual and Rialto Capital Management Entity Buy AZ Corp HQ Property
Venture spends $25 mil on 154k sf Scottsdale asset

SWC Development Partners Buys 28 Acres of Development Land in Surprise, Arizona
Firm to use the site for the final final phase of Skyway Commons industrial park

Elion Partners Buys 72k sf Carlsbad Facility from Rexford Industrial for $18.6 Mil
Newton Corporate Center sale works out to $260/sf

TriWest Multifamily Buys 312-Unit Res Community in Albuquerque
Monterra Apartments was sold by Vukota Capital Management

Creative Office Property in Phoenix’s Warehouse District Fetches $274/sf
Building is leased to Maricopa County Regional School District in conjunction with the sale

Local Developer Buys 56 Acres in Mesa, AZ’s Elliot Road Technology Corridor
Buyer to develop 770k sf industrial development on the land

Nadel Architecture Designs New High-Tech Shooting Range in Colorado
The Gallery Sportsman’s Club & Range in Lakewood is set to opne in fourth quarter 2021

Multi-Tenant Office Property in Bellevue, WA Trades
New Rock Acquisition buys 149k sf Lincoln Plaza

Sares Regis Group of Northern California and Dostart Development Company Start Work on Bay Area Office/Retail Project
185k sf mixed-use development incorporates vacant Burlingame Post Office property

Newmark Knight Frank Lands Leasing Assignment for New Creative/Flex Campus Project in Tukwila, WA
The Prato District Technology Center is being developed by Ryan Companies US Inc and Segale Properties

Pico Rivera Industrial Facility Trades for $364/sf
CenterPoint Properties spends $63 mil on 173k sf property

SB Real Estate Partners Closes on 126-Unit Value Add Res Buy in Mesa
Firm picks up ReNew 3030 for just over $24 mil

JB Matteson Inc Closes Six Multfamily Assets Refis Totaling $132 Mil
The deals were arranged by NorthMarq and funded through Allianz

Historic Office Building in Downtown Oakland Trades in $14 Mil Deal
FH One Inc to renovate 43k sf property

HydroJug is Expanding in Utah
Firm inks deal for new 120k sf facility within Business Depot Ogden

Developer Picks Up 32-Acre Parcel in the Austin, TX Area
Buyer planning on building a mixed-use project on the Dripping Springs Site

Prologis Buys 441k sf Las Vegas Industrial Property
Safari Business Park consists of five multi-tenant buildings

NAIOP SoCal’s Night at the Fights is Back -- on October 7!
Popular black tie industry event returns to The Hangar at the Orange County Fairgrounds in Costa Mesa

Idaho Entity Pays $249/sf for Phoenix Office Property
89k sf, Class A asset trades for $22 mil

MAG Capital Partners Buys 402k sf HQ Campus for Hobbs Manufacturing
Waco, TX purchase consists of two buildings on 27 acres

Black Creek Group Closes 690k sf Silicon Valley Biz Park Buy
Transaction estimated to be worth near $95 mil

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