TUCSON, ARIZ. — Vertical Street Ventures has sold Vertical East Apartments in Tucson to Seattle-based Investors Capital Group for $22 million. IPA’s Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller. The property was developed in 2001 and is comprised of two- and three-bedroom floor plans. Community-wide amenities include a pool and hot tub, a picnic area and a dog park.
AURORA, COLO. — Kennedy Wilson (NYSE: KW) has acquired The Fletcher Southlands in Aurora’s Southlands submarket for approximately $94.8 million from CBRE Global Investors. JLL Capital Markets has arranged a $61.8 million Freddie Mac acquisition loan for Kennedy Wilson. The Fletcher Southlands, located at 22959 E. Smoky Hill Road, was built in 2001 on a 23-acre site and features one- to four-bedroom units and amenities that include a pool and hot tub, fitness and business centers, a gaming area, covered parking, a dog park, package lockers, grills, valet trash services, …
LOS ALTOS, CALIF. — Interstate Equities Corp. (IEC), a Los Altos-based investor specializing in value-add assets in California and the Seattle metro area, has acquired a four-property portfolio for $272 million with joint venture partner PGIM. Mesa West Capital provided a $201.5 million acquisition loan arranged by Eastdil Secured. The assets, developed between 1987 and 2015, are The Maddox (184 units) in Sunnyvale, California; Catalyst Mountain View (149 units) in Mountain View, California; Cirrus Redwood City (141 units) in Redwood City, California; and Cumulus SLU (100 units) in Seattle. IEC …
SANTA MARIA, CALIF. — Zachary Streit, founder and president of Priority Capital Advisory, has arranged $174 million in financing for Canfield Development’s 160-acre master-planned project Blosser Ranch in Santa Maria. The loans will fund the first phase of construction: a 302-unit, three-story garden-style multifamily community set on 12 acres. The to-be-named property will be comprised of one-, two- and three-bedroom units and such amenities as a pool and hot tub, a clubhouse, fitness and business centers, grills, firepits and a pet park. Construction is underway, and Canfield estimates the apartment …
DENVER — Co-developers Opus and Miller Global Properties have completed The Bellwether, a LEED-certified, 253-unit property located within the Denver Tech Center. The 908-acre office park is home to approximately 1,000 companies and hotels, restaurants, event venues, golf courses and multifamily housing. The community was developed on the site of a former parking lot. Opus and Miller Global Properties developed the property in a joint venture with Principal Asset Management. Opus was also the design-builder and architect of record on the project, and Lamar Johnson Collaborative was the interior designer. …
After several years of uncertainty, the San Francisco metro area multifamily housing market is showing clear signs of recovery. The first half of 2025 brought the largest expansion in multifamily demand in years. The 12-month trailing absorption surged to 3,700 units as of the third quarter, one of the highest levels in a decade. Vacancy rates have dropped to 5.1 percent, the lowest since 2014, and apartment rents are up 5.6 percent, placing San Francisco among the top metros in the nation for rent growth. Although sale prices had remained …
LOS ANGELES — General contractor R.D. Olson Construction has broken ground on DeSoto, a $62 million affordable housing development in the Woodland Hills neighborhood of Los Angeles. Meta Housing Corp. is the developer. The project team also includes AC Martin (architect), Mark Beall and Associates (landscape architect), KE Engineering Corp. (civil engineer), TAD Engineering (mechanical engineer) and EB Structural Engineers (structural engineer). Construction of the seven-story building is slated for an early 2028 completion. The 207-unit LIHTC property will be built to achieve LEED certification. The developer has committed to …
TUCSON, ARIZ. — Bascom Arizona Ventures, an affiliate of Irvine, California-based The Bascom Group, has acquired The Retreat at Speedway in Tucson for $53.4 million via a value-add investment fund. The seller was Wiedner Apartment Homes. IPA arranged the deal on behalf of Wiedner as well as a loan from BrightSpire Capital Acquisitions LLC. Arizona-based property manager Bryten Real Estate Partners will manage the property. Built in 2001, the two-story Retreat at Speedway is comprised of one- and two-bedroom floor plans and amenities such as a pool, hot tub, fitness …
RENO, NEV. — Berkadia has arranged the $41 million sale of The Element, a 206-unit garden-style apartment community in Reno. The seller was a private Los Angeles-based owner, and the buyer’s identity was kept private. The property was developed between 1975 and 1977. The Element offers one- and two- bedroom floor plans. Amenities include laundry facilities, a pool, a fitness center, a dog park and a grilling and picnic area. Jared Glover of Berkadia Nevada represented the seller.
SANTA FE, N.M. — Dominium has broken ground on Turquoise Trail, a 312-unit affordable housing community in Santa Fe. The LIHTC property will be constructed by Weis Builders and will be comprised of 13 three-story buildings containing 120 two-bedroom, 132 three-bedroom and 60 four-bedroom homes. Three hundred units will be reserved for households earning no more than 60 percent of area median income (AMI), and the remaining two will be set aside for families earning up to 50 percent of AMI. Amenities include a clubhouse, fitness center, playground and grilling …
