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.
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 …
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.
UNION CITY, CALIF. — MidPen Housing has begun construction of Lazuli Landing, an 81-unit affordable housing property in Union City’s Decoto neighborhood. The one-, two- and three-bedroom units will be reserved for residents earning between 20 to 60 percent of area median income, which ranges from yearly salaries of $31,690 to $95,880 for a family of four. Prospective residents who live and work in Union City or Alameda County will be given preference over non-local renters. Alameda County voters approved $13.2 million for the project. In addition to the City …
DENVER — PCCP has provided a $78 million loan to Trammell Crow Residential for the refinancing of Alexan Evans Station in Denver. The 367-unit property, located at 2121 S. Broadway, was built in 2023 and is LEED Gold-certified. It offers a mix of studio, one-, two- and three-bedroom units and 7,334 square feet of ground-floor retail space leased to F45, SweatHouz and Pacific Dental Services. Amenities include a pool and hot tub with cabanas, a fitness center, coworking spaces and a conference center, EV charging and an on-site convenience market.
PHOENIX — Phoenix-based real estate investment firm TBBG Investments has completed one acquisition and broken ground on two build-to-rent (BTR) developments in the Phoenix metro area. In partnership with Denver-based Canopy Real Estate Partners, TBBG has acquired CJ Townhomes for approximately $13.4 million. The 36-unit community in Mesa, Arizona, will be rebranded as The Sonoran Townhomes. The development was completed in 2024 and includes three-bedroom townhomes with attached garages and private yards as well as such amenities as a pool and hot tub, a dog park, fitness center, resident lounge …
WESTMINSTER, CALIF. — Shopoff Realty Investments and architecture firm AO have broken ground on Bolsa Pacific at Westminster. Developed by Shopoff Realty Investments, the new 83.3-acre mixed-use project will replace the vacant Westminster Mall in Westminster, located in western Orange County, about 12 miles east of Long Beach, California. Bolsa Pacific will include approximately 2,250 residential units, 220,000 square feet of retail, a 120-key hotel and more than 15 acres of publicly accessible open space. AO designed the residential component of the project, which comprises five multifamily buildings on the south …
DENVER — JLL has arranged a floating-rate loan for Price Brothers to refinance Rye SoBo, a 353-unit property in Denver. The amount of the loan was not disclosed. RyeSoBo, located at 290 W. Alameda Ave. in the South Broadway area of Denver, was developed in 2021 and includes studios, one- and two-bedroom units and amenities such as a rooftop lounge with mountain and downtown views, a two-story fitness center, a two-story coworking lounge with conference rooms, a pool with a hot tub, a beer garden with outdoor games, a pet …
PHOENIX — Rockefeller Group’s Corsica Villas at 20th Street in South Phoenix is now complete, and residents have begun moving in. A sister community, Corsica Villas at Euclid & 7 Street, is expected to open later this summer. The two gated communities include 152 two-story townhomes. Corsica Villas at Euclid & 7th Street will offer 84 residences, including three-bedroom townhomes with covered reserved parking spaces, and two-bedroom carriage-style units with attached one-car garages. Residents at both communities will have access to amenities such as a heated pool and a hot …
BELMONT, CALIF. — Marcus & Millichap has arranged the sale of El Dorado Apartments in Belmont, approximately 22 miles south of San Francisco. The 39-unit community traded between two undisclosed parties for the sum of $20.2 million, or $518,910 per unit. Marcus & Millichap’s Robert Johnston, Adam Levin and Arman Sadigh led the transaction. Constructed in 1962, El Dorado Apartments is comprised of a mix of one- and two-bedroom units. Amenities include a fitness center and private, covered parking.
