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Alta-Rise-Gilbert
ArizonaInvestment SalesNewsWestern

Wood Partners Sells Alta Rise in Gilbert, Arizona

by Lynn Peisner

GILBERT, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Alta Rise in North Gilbert, Arizona. IPA’s Steve Gebing and Cliff David represented the seller, Atlanta-based Wood Partners, which developed the property, opening it in 2025. IPA also procured the unnamed buyer. The 278-unit community is a four-building property with a fourth-floor lounge and deck. Additional amenities include a speakeasy, a lawn with yard games and a firepit, a multipurpose field, pickleball courts and a resort-style pool and hot tub. Apartments feature walk-in closets with built-in shelving, kitchens …

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The-Hawthorne-Riverside
CaliforniaInvestment SalesNewsWestern

PCCP, Alliance Residential Buy The Hawthorne in Riverside, California, for $65.3M

by Lynn Peisner

RIVERSIDE, CALIF. — A joint venture between PCCP and Alliance Residential Co. has acquired The Hawthorne at 9170 Indiana Ave. in Riverside. An undisclosed seller sold the 184-unit property for $65.3 million. Situated on 6.7 acres and consisting of 16 three- and two-story buildings and one single-story amenity building, The Hawthorne was delivered in 2023 and is a garden-style community. The property offers a mix of one-, two- and three-bedroom floor plans averaging approximately 873 square feet. Amenities include a resort-style pool and hot tub with cabanas, multiple landscaped courtyards …

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Affordable HousingNevadaNewsOperationsWestern

Stout Management Selected as Property Manager for Las Vegas Affordable Housing Development

by Lynn Peisner

NORTH LAS VEGAS, NEV. — Illinois-based Brinshore Development has selected locally based Stout Management Co. as property manager for Vegas View Flats, an affordable housing community at 620 W. Lake Mead Blvd. in North Las Vegas. The 76-unit property, currently in the lease-up phase, offers studios, one-, two- and three-bedroom apartments reserved for renters earning up to 50, 60 or 80 percent of area median income. Stout will oversee day-to-day operations, leasing, compliance and long-term management of the community.

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Mosa-Elk-Grove
Affordable HousingCaliforniaInvestment SalesNewsWestern

HVPG Buys Metro Sacramento Affordable Housing Property for $83.6M

by Lynn Peisner

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, 14 miles south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 …

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3751-Delmas-Los-Angeles
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Berkadia Arranges $15.6M Construction Loan for Two L.A. Affordable Housing Developments

by Lynn Peisner

LOS ANGELES — Berkadia has arranged $15.6 million in construction financing for two affordable housing projects in Los Angeles. Locally based Seachange Partners, founded in 2024, is the borrower. The lender was Genesis Capital. The developments are at 1723 Corinth Ave. in the Sawtelle neighborhood and 3751 Delmas Terrace in the Palms submarket. The two five-story projects will include a combined 79 units of deed-restricted affordable housing. Income caps were not disclosed. Construction is underway, with completion slated for 2027.

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Colibri-Commons-East-Palo-Alto
Affordable HousingCaliforniaDevelopmentNewsOperationsWestern

MidPen, EPACANDO Open Colibri Commons, a 136-Unit Affordable Housing Community in East Palo Alto, California

by Lynn Peisner

EAST PALO ALTO, CALIF. — MidPen Housing and the East Palo Alto Community Alliance Neighborhood Organization (EPACANDO) have opened Colibri Commons, a 136-unit affordable housing community at 965 Weeks St. in East Palo Alto. Units are reserved for tenants earning no more than 30 and 60 percent of area median income. Units range from studio to four-bedroom floor plans. Amenities include a community room, an outdoor play area and free onsite services such as nutrition classes, adult education and after-school programming. MidPen Property Management is the property manager. Financing for …

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The-Point-at-Deerfield-Plano
ColoradoCompany NewsNewsOperationsTexasWestern

The Paskin Group Selects Asset Living to Manage 17-Property Portfolio

by Lynn Peisner

HOUSTON, TEXAS — Asset Living has assumed management of a 17-property portfolio owned by The Paskin Group. Thirteen of the 17 communities are in Texas and transitioned to Asset Living’s managed portfolio on May 13. The remaining properties are in Colorado. Asset Living will assume management of those communities in August. The Paskin Group is a Santa Barbara, California-based real estate investment company focused on acquiring value-add multifamily properties. Asset Living was ranked second in the National Multifamily Housing Council’s 2026 Top 25 with 288,665 units under management. The Houston-based …

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parc@5-Downey
CaliforniaInvestment SalesNewsWestern

Colliers Arranges Sale of Parc @ 5 in Downey, California

by Lynn Peisner

DOWNEY, CALIF. — Colliers has arranged the sale of Parc @ 5, a 104-unit property in Downey, approximately 12 miles south of Los Angeles. B.A.G. Investments acquired the asset from an entity doing business as Parc @ 5 Downey LLC. The sales price was not disclosed. Representing the seller, Colliers’ Shane Shafer brokered the transaction. The community is made up of one-, two- and three-bedroom units.

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Alta-Longmont-Colorado
ColoradoDevelopmentNewsWestern

Wood Partners, EIG EuroInvestor Break Ground on 252-Unit Alta Longmont Northeast of Boulder

by Lynn Peisner

LONGMONT, COLO. — Wood Partners and Hamburg, Germany-based capital partner EIG EuroInvestor have broken ground on Alta Longmont, a 252-unit development 15 miles northeast of Boulder, Colorado. The seven-building, three-story community features a mix of one-, two- and three-bedroom layouts. Amenities include a resort-style pool and courtyard with mountain views, an outdoor kitchen and grill area, a fitness center, a resident clubhouse, a business center with private conference rooms and a dedicated dog-walking area. Project partners include Design Balance as the lead architect, Civil Resources as the civil engineer and …

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Park-Encino-LA
CaliforniaInvestment SalesNewsWestern

IPA Arranges $28M Sale of Park Encino in Los Angeles

by Lynn Peisner

LOS ANGELES — Institutional Property Advisors (IPA) has arranged the $28 million sale of Park Encino, a 52-unit property in the Encino neighborhood of Los Angeles. IPA’s Kevin Green, Joseph Grabiec and Gregory Harris represented the undisclosed seller and procured the buyer, locally based Universe Holdings Development. Completed in 2014, Park Encino is a gated community with a central courtyard, clubhouse, fitness center, patio and grill. The unit mix is comprised of two- and three-bedroom floor plans. Units feature washers and dryers and walk-in closets.

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