Western

Thompson Thrift Secures $463M Construction Takeout Loan for Eight New Sun Belt Properties

by Lynn Peisner October 16, 2026

TERRE HAUTE, IND. — JLL has arranged $463 million in bridge financing for an eight-property portfolio owned by Terre Haute-based Thompson Thrift. Barings provided the floating-rate construction takeout loan for the newly completed properties, comprising 2,412 units, in Florida, Georgia and Arizona. The loan retired existing construction loans across all properties, which were completed throughout 2025 and 2026 in seven metro areas. Each property features amenities such as 24-hour fitness centers, resort-style pools, resident social hubs with coffee bars, pickleball courts, dog parks with pet spas, business centers and outdoor …

October 16, 2026

Affordable Housing California Finance Investment Sales News Western

Interstate Equities Buys Bay Area’s The Dylan for $83.5M

by Lynn Peisner October 14, 2026

HERCULES, CALIF. — Hercules Development Partners has sold The Dylan in Hercules, 24 miles north of San Francisco, to Interstate Equities Corp. for $83.5 million. JLL arranged the sale on behalf of the seller as well as a $54.3 million Freddie Mac acquisition loan for Los Altos, California-based Interstate Equities. Completed in 2022, The Dylan is a five-story community comprising 217 market-rate units and 15 affordable units. Rent restrictions were not disclosed. The property features studios, one- and two-bedrooms and a lounge with a community kitchen; a sports lounge with …

October 14, 2026

Investment Sales News Washington Western

RISE Properties Sells 366-Unit The Groves in Seattle Metro Area for $72M

by Lynn Peisner October 9, 2026

KENT, WASH. — RISE Properties has sold The Groves Apartments (366 units) in Kent to FPA Multifamily for $72 million. Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented the seller, which acquired the asset in 2019. During its hold, RISE renovated about 68 percent of the units and upgraded amenities and common areas. The property, which has been rebranded as ReNew Meridian, is about 30 miles south of Seattle and includes two- and three-story residential buildings and a clubhouse across 20 acres. It …

October 9, 2026

Arizona Investment Sales News Western

IPA Brokers $47.8M Sale in Phoenix

by Lynn Peisner October 7, 2026

PHOENIX — Institutional Property Advisors (IPA) has arranged the sale of The Astor at Osborn, a 191-unit mid-rise community in Phoenix. The asset traded between two unnamed parties for the sum of $47.8 million. Completed in 2019, The Astor at Osborn has garage parking, a resort-style pool, fitness center, club room and outdoor grilling stations. Floor plans are available as studios, one-, two- and three-bedroom units, which feature stainless steel appliances and 10-foot ceilings. IPA’s Steve Gebing and Cliff David represented the seller and procured the buyer.

October 7, 2026

Berkadia Investment Sales Nevada News Western

Kennedy Wilson Sells Sagecliff in Nevada for $54.8M

by Lynn Peisner October 7, 2026

RENO, NEV. — Berkadia has arranged the $54.8 million sale of Sagecliff in Reno. Beverly Hills, California-based Kennedy Wilson was the seller, and Korda Group, a California-based family office, was the buyer, according to CoStar. Sagecliff (220 units) was built in 1997 and features a mix of one- and two-bedroom units averaging 941 square feet. The property’s amenity package includes a pool and hot tub, fitness center, clubhouse and detached garages. Kennedy Wilson invested approximately $2 million in capital improvements during its hold period, which began in 2021. Updates included …

October 7, 2026

Investment Sales News Oregon Western

IPA Arranges $14.7M Sale in Forest Grove, Oregon

by Lynn Peisner October 6, 2026

FOREST GROVE, ORE. — Hillsboro, Oregon-based Bender Equities has sold The Boxer, a 99-unit community in Forest Grove, about 27 miles west of Portland, Oregon, for $14.7 million. The buyer was Tam Ridge Partners from San Francisco. Institutional Property Advisors (IPA)’s Anthony Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller. The Boxer is a nine-building property, developed in the 1960s and renovated in 2019, with a playground, laundry facilities, a lounge with a kitchen, fireplace, …

October 6, 2026

California Investment Sales News Western

Marcus & Millichap Brokers $6.3M Russian Hill Portfolio Sale in San Francisco

by Lynn Peisner October 5, 2026

SAN FRANCISCO — Marcus & Millichap has arranged the sale of two multifamily properties at 1159-1169 and 1067-1071 Union St. in San Francisco’s Russian Hill neighborhood. The properties sold for a combined $6.3 million after approximately 50 years under the same family ownership. Philip Batlin, Clinton Textor, Sam Runco and Jordan Tong, investment specialists in Marcus & Millichap’s San Francisco office, marketed the properties on behalf of the seller and procured the buyer, locally based Ballast. Built in 1925, the 9,123-square-foot property at 1159-1169 Union St. consists of six two-bedroom, …

October 5, 2026

Berkadia California Investment Sales News Western

Berkadia Arranges $6.8M Sale in Westchester Submarket of Los Angeles

by Lynn Peisner October 2, 2026

LOS ANGELES — Berkadia has arranged the $6.8 million sale of Altezza, a 16-unit property in the Westchester neighborhood of Los Angeles. Steffan Braunlich of Berkadia El Segundo led the transaction on behalf of the seller, Revere Investments of Rolling Hills Estates, California. The buyer was Edud Investments based out of Corona, California. The deal closed on Sept. 21. Located at 6925 Kittyhawk Ave., the property was built in 1993 and features 16 two-bedroom, two-bathroom apartments, including upper-level, two-story loft layouts. The property also includes in-unit stackable washers and dryers, …

October 2, 2026

California Investment Sales News Western

Marcus & Millichap Brokers $9.1M Silicon Valley Trade

by Lynn Peisner October 1, 2026

SAN JOSE, CALIF. — Marcus & Millichap’s Levin Johnston brokerage team has arranged the sale of First Street Manor, a 39-unit community in San Jose. Adam Levin, Robert Johnston and Cole Simpson represented the seller and procured the buyer in the $9.1 million transaction. Neither party to the transaction was named. The property, built in 1948, comprises studio, one- and two-bedroom floor plans. The 18,305-square-foot property sits on a 0.87-acre parcel one block west of the Japantown/Ayer light rail station at 523 North 2nd St. with service throughout the Silicon …

October 1, 2026

Colorado Finance News Western

Griffis Residential Obtains $86.1M Refinancing for Denver Asset

by Lynn Peisner October 1, 2026

DENVER — JLL Capital Markets has arranged an $86.1 million refinancing loan for Griffis Union Station, a 400-unit property owned by Greenwood Village, Colorado-based multifamily investment company Griffis Residential. Completed in 2010, Griffis Union Station is located at 2905 Inca St. in downtown Denver, stands five stories tall and offers one- and two-bedroom units and such amenities as a fitness center, resort-style pool, clubhouse, lounge, business center, grilling stations, game room, dog park and pet washing station. JLL’s team was led by Eric Tupler, Kevin Barron and Jake Martin.

October 1, 2026

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