Western

De-Soto-Los-Angeles
Affordable HousingCaliforniaDevelopmentNewsWestern

Meta Housing Corp., R.D. Olson Break Ground on $62 Million Affordable Housing Development in Los Angeles

by Lynn Peisner

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 …

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Retreat-at-Speedway-Tucson
ArizonaInvestment SalesNewsWestern

Bascom Group Acquires Tucson Value-Add Asset for $53.4 Million

by Lynn Peisner

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 …

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The-Element-Reno
BerkadiaInvestment SalesNevadaNewsWestern

Berkadia Arranges $41 Million Sale of The Element Apartments in Reno, Nevada

by Lynn Peisner

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.

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Turquoise-Trail-Santa-Fe
Affordable HousingDevelopmentNew MexicoNewsWestern

Dominium Breaks Ground on Turquoise Trail in Santa Fe

by Lynn Peisner

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 …

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Centennial-Seattle
CaliforniaInvestment SalesNew JerseyNewsNortheastPennsylvaniaWashingtonWestern

JRK Buys Three-Property Portfolio From Equity Residential for $400 Million

by Lynn Peisner

LOS ANGELES — JRK, a Los Angeles-based real estate investment firm, has acquired a three-property, $400 million portfolio from Equity Residential (NYSE: EQR). The properties are Centennial (408 units) in Seattle, 77 Park Avenue (301 units) in Hoboken, New Jersey, and C on Pico (94 units) in Los Angeles. Including this purchase, JRK acquired $1.3 billion in multifamily assets, encompassing 3,400 units, in the United States in 2025, including Edge 1909, a 364-unit property in the Strip District of Pittsburgh acquired in December. 

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3100-3118-Patrick-Henry-Drive-Santa-Clara
BerkadiaCaliforniaDevelopmentInvestment SalesNewsWestern

Berkadia Arranges $12.5 Million Land Sale in Silicon Valley

by Lynn Peisner

SANTA CLARA, CALIF. — JEMCOR Development Partners and Scaled Projects acquired a 2.5-acre site in Santa Clara for $12.5 million on Dec. 18. Jason Parr and Scott MacDonald of Berkadia San Francisco arranged the sale. The site is adjacent to Levi’s Stadium, home of the San Francisco 49ers, and is zoned for high-density residential development within the city’s Patrick Henry Drive Specific Plan Area. The plan was adopted by the Santa Clara City Council in 2022 with the goal to redevelop a series of office parks, some developed in the …

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Montreux-Phoenix
ArizonaFinanceNewsWestern

PCCP Provides $84 Million Refinancing Loan to Pacific Development Partners

by Lynn Peisner

PHOENIX — PCCP has provided an $84 million senior loan to Los Angeles-based Pacific Development Partners for the refinancing of Montreux, a 335-unit community in Phoenix. The three-building property was developed in 2019 and is approximately 89 percent leased. The financing was arranged by James Bach of CBRE. Montreux’s units are offered in one-, two- and three-bedroom floor plans. Amenities include two pools, a fitness center, a rooftop clubhouse, pickleball and tennis courts, a game room with a multi-sport simulator and parking.

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3100-3118-Patrick-Henry-Drive-Santa-Clara
CaliforniaDevelopmentInvestment SalesNewsWestern

Berkadia Arranges $12.5 Million Land Sale in Silicon Valley

by Lynn Peisner

SANTA CLARA, CALIF. — JEMCOR Development Partners and Scaled Projects acquired a 2.5-acre site in Santa Clara for $12.5 million on Dec. 18. Jason Parr and Scott MacDonald of Berkadia San Francisco arranged the sale. The site is adjacent to Levi’s Stadium, home of the San Francisco 49ers, and is zoned for high-density residential development within the city’s Patrick Henry Drive Specific Plan Area. The plan was adopted by the Santa Clara City Council in 2022 with the goal to redevelop a series of office parks, some developed in the …

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Alexan-Access-Lynnwood
Investment SalesNewsWashingtonWestern

Trammell Crow Sells Alexan Access in Metro Seattle to Bell Partners for $145 Million

by Lynn Peisner

LYNNWOOD, WASH. — Bell Partners has acquired Alexan Access in Lynnwood for $145 million. JLL Capital Markets arranged the sale as well as an $83.2 million Fannie Mae acquisition loan. The seller was Trammell Crow Residential. Located at 2727 Alderwood Mall Blvd., about 16 miles north of Seattle, Alexan Access was built in 2023 and includes 383 units as studios, one-, two- and three-bedroom floor plans across four buildings. A resort-style pool and hot tub, a sky lounge with a rooftop deck, coworking spaces, a fitness center with a second-level …

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Mission-Paradise-Hayward
Affordable HousingCaliforniaDevelopmentNewsSeniors HousingWestern

EAH Opens Two Bay Area Affordable Housing Communities

by Lynn Peisner

HAYWARD, CALIF. — EAH Housing has opened Pimentel Place and Mission Paradise, two ground-up affordable housing developments in Hayward that, combined, include 133 units with rent restrictions ranging from 20 to 80 percent of area median income. Hayward is in Alameda County, about midway between San Jose and San Francisco. Pimentel Place includes 57 units for families. The community offers one- to three-bedroom floor plans with energy-efficient appliances, on-site laundry facilities, bicycle parking, a children’s play area and indoor and outdoor gathering spaces. About 2 miles south, Mission Paradise occupies …

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