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Grandstone-at-Sunrise-Peoria
ArizonaInvestment SalesNewsWestern

Thompson Thrift Sells Metro Phoenix BTR Development for $45.9M

by Lynn Peisner

PEORIA, ARIZ. — Marcus & Millichap has arranged the $45.9 million sale of Grandstone at Sunrise, a 140-unit build-to-rent community in the northwest Phoenix suburb of Peoria. Terre Haute, Indiana-based Thompson Thrift was the seller, having developed the property in 2021. The Phoenix Business Journal reports the buyer to be MetLife Investment Management. The sales price equates to $327,500 per unit. Steve Gebing and Cliff David with Institutional Property Advisors, a division of Marcus & Millichap, represented Thompson Thrift in the transaction. Grandstone at Sunrise is comprised of 70 residential …

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200-w-ocean-Long-Beach
CaliforniaFinanceNewsWestern

JLL Arranges $46.3M Refinancing for Luxury Asset in Long Beach, California

by Lynn Peisner

LONG BEACH, CALIF. — JLL has arranged a $46.3 million refinancing for 200 W. Ocean, a 106-unit community in downtown Long Beach. The name of the sponsor was not disclosed. The property is an adaptive reuse of a former Class-B office building that was redeveloped into a multifamily property atop a three-story subterranean garage. The property, delivered in August 2022, features an amenity deck with a pool and fireplaces, a fitness center and smart-entry features. JLL Capital Market’s Debt Advisory team representing the borrower was led by Jeff Sause, Jacob …

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Modera-Chandler
ArizonaDevelopmentNewsOperationsWestern

Mill Creek Residential Pre-Leasing at Modera Chandler

by Lynn Peisner

CHANDLER, ARIZ. — Mill Creek Residential has begun pre-leasing at Modera Chandler, a 345-unit property in Chandler that Mill Creek began developing in July 2024. Modera Chandler is comprised of one-, two- and three-bedroom homes, some with dens. Amenities include a resort-style pool with cabanas, a hot tub and sauna, grilling area, fire pit, outdoor dining, a clubroom with gathering space, landscaped courtyards, coworking space with private pods, a conference room, resident lounge with library, pet park, playground and a two-story fitness center. The community also features 24-hour digital self-serve …

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Affordable HousingArizonaDevelopmentFinanceNewsWestern

UDG Breaks Ground on Phase II of Phoenix Affordable Housing Development

by Lynn Peisner

PHOENIX — Ulysses Development Group (UDG) has broken ground on Salt River Flats 2, a 168-unit affordable housing community located at 4027 S. 13th St. in Phoenix. The project will offer apartments to families and individuals earning up to 60 percent of area median income. Salt River Flats 2 is adjacent to Denver-based UDG’s first project in Arizona, Salt River Flats, which includes 196 multifamily units and opened in the spring of 2024. Funding was secured through a variety of sources, including the Arizona Industrial Development Authority, which provided $34.5 …

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Berkshire-Crossing-Hanford
CaliforniaFinanceNewsWestern

Dwight Capital Provides $23M HUD Loan to Refinance Berkshire Crossing in Hanford, California

by Lynn Peisner

HANFORD, CALIF. — Dwight Capital has provided a $23 million HUD refinancing loan for borrowers Fresno Supreme Inc. and Santa Lucia Ventures, owners of Berkshire Crossing, a 92-unit community completed in 2022. Located in Hanford, approximately 33 miles south of Fresno, California, Berkshire Crossing features one-, two- and three-bedroom units and such amenities as a pool, hot tub, fitness center, package lockers and a clubhouse. Dwight Capital’s Keith Hoffman and Aaron Kirshtein led the transaction.

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Cedar-Hills-Beaverton
DevelopmentNewsOregonWestern

High Street Residential Breaks Ground on Mixed-Use Transit-Oriented Development in Beaverton, Oregon

by Lynn Peisner

BEAVERTON, ORE. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on a 369-unit mixed-use, transit-oriented apartment community at the former Cedar Hills Shopping Center in Beaverton, located approximately nine miles west of Portland, Oregon. Joint venture partners include SCOA Real Estate Partners and Lease Crutcher Lewis. Located on a 5.8‑acre site between Southwest Wilshire Street and Park Way, the project will replace a portion of the Cedar Hills Shopping Center, which closed earlier this year, and its surface parking with a high‑density, transit‑connected development. The …

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Rifle-Apartments-Rifle-Colorado
Affordable HousingColoradoDevelopmentNewsWestern

Evergreen Real Estate Completes LIHTC Development In Rifle, Colorado

by Lynn Peisner

RIFLE, COLO. — Evergreen Real Estate Group has completed the 60-unit Rifle Apartments in Rifle, approximately 183 miles west of Denver. The affordable housing community is comprised of a trio of three-story buildings that include one-, two- and three-bedroom units reserved for households earning between 30 and 80 percent of area median income (AMI). Of the 60 total apartments, 14 are designated as project-based voucher units for families who are earning at or below 30 percent of AMI. The development also is managed by Evergreen and is currently 95 percent …

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Tempo-at-Riverpark-Oxnard
CaliforniaFinanceInvestment SalesNewsWestern

JLL Arranges $55.8M Loan for Acquisition of Tempo at Riverpark in Oxnard, California

by Lynn Peisner

OXNARD, CALIF. — JLL Capital Markets has secured an acquisition loan for approximately $55.8 million for Hines’ purchase of Tempo at Riverpark in Oxnard. Tempo at Riverpark is located at 450 Forest Park Blvd. in the Riverpark master-planned community. Residents live within walking distance of The Collection at Riverpark, a 650,000-square-foot retail center anchored by Whole Foods and Target. The property was built in 2016 and was 95.7 percent occupied as of December 2025. Amenities include a 24-hour fitness center, pool and hot tub, resort-style cabana seating, resident lounge with …

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Affordable HousingCaliforniaDevelopmentNewsWestern

Thomas Safran & Associates Open Vista Terrace in Los Angeles’ Panorama City Area

by Lynn Peisner

LOS ANGELES — Locally based affordable housing developer Thomas Safran & Associates has completed Vista Terrace, a 102-unit LIHTC community in the Panorama City neighborhood of Los Angeles. The project includes a mix of studio, two- and three-bedroom floor plans as well as 25 units set aside for renters formerly experiencing homelessness. Units feature heating and air conditioning, plank flooring and window coverings. Select units offer private patios or balconies. With onsite management, amenities include a library, community room, fitness center, laundry facility, landscaped outdoor areas, 55 parking spaces and …

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DevelopmentNew MexicoNewsWestern

Revere Capital Completes The Hill in Los Alamos, New Mexico

by Lynn Peisner

LOS ALAMOS, N.M. — Revere Capital has completed development of The Hill, a 149-unit community in Los Alamos. The project cost was approximately $65 million. The Hill was completed after Revere assumed ownership during construction in 2025, working with Los Alamos County and the project’s general contractor. The Hill consists of one-, two- and three-bedroom homes priced from $2,400 to $4,200 per month in asking rents. Some units may be rented by the bedroom. The Hill’s amenity package includes a clubhouse, fitness center, resort-style pool, ramada with outdoor kitchens, two …

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