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5550-Wilshire-Los-Angles
CaliforniaInvestment SalesNewsWestern

Decron Properties Buys Los Angeles Property for $114M

by Lynn Peisner

LOS ANGELES — Locally based Decron Properties has acquired 5550 Wilshire, a 163-unit mixed-use apartment community in the Miracle Mile area of Los Angeles. According to the Los Angeles Business Journal, the seller was private equity real estate investor GID, headquartered in Atlanta. The asset sold for $114 million. Blake Rogers of JLL arranged the transaction. Developed in 2010, 5550 Wilshire offers one-, two- and three-bedroom apartments and townhomes. Amenities include a resort-style pool, hot tub, rooftop lounges, movie theater and parking for 484 vehicles. The property also includes 14,686 …

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Bridges-at-san-ramon-California
CaliforniaInvestment SalesNewsWestern

TruAmerica Buys Bridges at San Ramon in San Francisco Bay Area

by Lynn Peisner

SAN RAMON, CALIF. — TruAmerica Multifamily has acquired Bridges at San Ramon, a 200-unit community in San Ramon. With this acquisition the Los Angeles-based investment firm owns and operates 1,240 units in the San Francisco Bay area. The seller was not disclosed. Bridges at San Ramon offers 200 one- and two-bedroom units averaging 739 square feet. Amenities include a pool and spa, fitness center, resident lounge, courtyard and barbecue area, playground, pet spa, electric vehicle charging stations and garage parking. TruAmerica plans to renovate a majority of the units, installing …

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Molokai-San-Diego
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $11.2M Sale of Molokai Apartments in San Diego

by Lynn Peisner

SAN DIEGO — Marcus & Millichap has arranged the $11.2 million sale of The Molokai Apartments, a 39-unit property in San Diego. Austin Ray Huffman and Chris Zorbas, of the Zorbas Huffman Group based out of Marcus & Millichap’s San Diego office, listed the property on behalf of the seller, Vista International Inc. The buyer, a private investor, was represented by Michael Wolf of Coldwell Banker West. Built in 1971, The Molokai Apartments is a 32,204-square-foot property situated on about 1 acre at 5055 73rd St. in San Diego’s College …

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Vista-Ridge-Issaquah
FinanceInvestment SalesNewsWashingtonWestern

Mesa West Funds $27M Loan for Timberland Partners’ Acquisition of Metro Seattle Asset

by Lynn Peisner

ISSAQUAH, WASH. — Mesa West Capital has funded a $27 million acquisition loan for Timberlane Partner’s purchase of Vista Ridge, a 91-unit community in Issaquah, 17 miles southwest of Seattle. The seller was Vancouver, British Columbia-based Belkorp Holdings. The total acquisition cost was $37 million. Vista Ridge is an eight-building, garden-style community located at 201 Mountain Park Blvd. SW. Built in 1992, the property spans 7 acres and consists of two- and three-bedroom units with an average size of 1,106 square feet. Community amenities include a fitness center, covered parking, …

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7 Hartwell-Lexington
DevelopmentFinanceMassachusettsNewsNortheast

Dinosaur Capital Partners Receives $45.8M Loan for Metro Boston Development

by Lynn Peisner

LEXINGTON, MASS. — Boston-based Dinosaur Capital Partners has obtained a $45.8 million construction loan to build 7 Hartwell Avenue, a 130-unit, ground up project in the Boston suburb of Lexington. JLL’s Anthony Cutone, Madeline Joyce, Michael Schwarze and Joe Marinaro arranged the loan through Affinius Capital. Slated for completion in June 2028, 7 Hartwell Avenue will consist of a five-story community featuring studios, one-, two- and three-bedroom units, including 20 affordable units. Rent restrictions were not disclosed. The development also will include 132 parking spaces, a courtyard with grilling stations, …

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The-Emerald-Centerton
ArkansasDevelopmentNewsSoutheast

Capstone Building Corp., EYC and Kalikow Break Ground on $45.1M Project in Northwest Arkansas

by Lynn Peisner

CENTERTON, ARK. — Capstone Building Corp., a multifamily general contractor headquartered in Birmingham, Alabama, has begun construction of The Emerald, a 256-unit community in Centerton in Northwest Arkansas, about 5 miles west of Bentonville. Westbury, New York-based The Kalikow Group and EYC Cos., headquartered in Charleston, South Carolina, are the developers behind the $45.1 million project. Located at the intersection of E. Centerton Blvd. and Womack Road, The Emerald will encompass 312,414 square feet and feature 256 units across nine residential buildings, along with a clubhouse. S. Robert Andron is …

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Alta-Thoreau-Concord
Affordable HousingDevelopmentMassachusettsNewsNortheast

Wood Partners Breaks Ground on Alta Thoreau in Concord, Massachusetts

by Lynn Peisner

CONCORD, MASS. — Atlanta-based Wood Partners has broken ground on Alta Thoreau, a 237-unit community in Concord, approximately 20 miles northwest of Boston. Units will be offered as one-, two- or three-bedroom floor plans across two five-story residential buildings. Amenities include Pilates and yoga studios, a golf simulator, tavern-style lounge, coworking spaces, a pool, fire pits, a pet spa and a dog park. Alta Thoreau will be Wood Partners’ first Passive House-designed community in Massachusetts, a designation for buildings that use reduced energy. Features include porous pavement, a more sustainable …

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Tremont-Street-Catalina
Affordable HousingCaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $8.6M Sale on Santa Catalina Island

by Lynn Peisner

AVALON, CALIF. — Marcus & Millichap has arranged the sale of Tremont Street Apartments, a 62-unit affordable housing property in Avalon, the only incorporated city on Santa Catalina Island. The asset sold for approximately $8.6 million. The seller was a limited partnership known as Black Rose Catalina, and the buyer was Newport Beach, California-based Tailwind Investment Group. Arteen Zahiri and Tony Azzi, both members of the Azzi Group in Marcus & Millichap’s Los Angeles office, represented the seller and procured the buyer. The apartment community, built in 1983, operates under …

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The-Marc-Modesto
CaliforniaInvestment SalesNewsWestern

Investor Pays $26.6M for Central California Asset

by Lynn Peisner

MODESTO, CALIF. — The Mogharebi Group (TMG) has arranged the $26.6 million sale of The Marc at 1600, a 100-unit community in Modesto. The seller was San Francisco-based Tesseract Capital Group, and the buyer was an undisclosed family office. Located at 1600 Standiford Ave., the community consists of one- and two-bedroom units with an average size of 798 square feet. TMG’s team, representing the seller, was led by Otto Ozen, Brian Nakamura and Nazli Santana.

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141-Willoughby-Brooklyn-Northwind-New-York
DevelopmentFinanceNew YorkNewsNortheast

Northwind Group Provides $427M in Loans for Two Office-to-Residential Conversions in New York City

by Lynn Peisner

NEW YORK CITY — Northwind Group has provided $427 million in construction loans for two metro New York office-to-residential projects. For the first project, the real estate private equity firm and debt fund manager originated a $208 million first mortgage construction loan for 141 Willoughby Street, a 24-story tower in Brooklyn. The borrowers/developers are Capstone Equities and BH3 Fund Advisors, who acquired the office property in 2025 and spent the past year in predevelopment planning for the building’s partial conversion to multifamily. Loan proceeds retired existing debt and will finance …

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