WESTMINSTER, COLO. — Mesa West Capital has provided an affiliate of Crow Holdings Capital with a $52 million loan to refinance debt on Canyon Reserve at the Ranch. The 256-unit, garden-style property is located 12 miles north of Denver in Westminster. The 17-building Canyon Reserve at the Ranch was developed in 1984 and fully renovated in 2022. Units are comprised of a mix of one- and two-bedroom floor plans. Amenities include a resort-style pool, grills, a fitness center and a dog park.
SAN DIEGO — Marcus & Millichap has arranged the $2.7 million sale of a six-unit community located on Saratoga Avenue in San Diego. Jamison Wheeler and Austin Huffman, senior directors of investments with the Zorbas Huffman Group at Marcus & Millichap, represented the buyer, Saratoga Beach Cottages LLC. The unnamed seller was represented by the Pacific Real Estate Center. The asset in the Ocean Beach neighborhood features six two-bedroom, one-bathroom cottages with four garages.
SUNNYVALE, CALIF. — JLL Capital Markets has arranged the sale of and acquisition financing for Citra, a 147-unit community in Sunnyvale. JLL represented the undisclosed seller. The buyer was Prime Residential, a San Francisco-based multifamily owner and operator. JLL Real Estate Capital, a Freddie Mac Optigo lender, also provided a $44.2 million loan for Prime Residential. Citra, located at 745 S. Bernardo Ave., was developed in 1968 and renovated in 2019. The garden-style property is comprised of one- and two-bedroom units and includes such amenities as a half-acre, landscaped terrace …
BUCKEYE, ARIZ. — Dominium has acquired land in Buckeye, about 35 miles west of Phoenix, to develop Sidney Village. The property will offer 200 income-restricted townhomes, though rent caps were not disclosed. Specifically, Sidney Village will feature 100 three-bedroom and 100 four-bedroom homes designed as a mix of one- and two-story detached, duplex-style residences. WD Construction is the contractor. Amenities will include a clubhouse with workspaces, a fitness center, a pool with a sun deck, a central laundry facility, carports, electric vehicle charging stations and a private school bus shelter. …
SAN DIEGO — Wakeland Housing has started construction of The Becker, an affordable housing development within Riverwalk San Diego, a 200-acre planned mixed-use, transit-oriented project that includes 4,300 multifamily units, 430 of which will be affordable. Hines is the master developer on the project, which also includes 110 acres of parks, 1 million square feet of office space and 150,000 square feet of retail. The 190 units at The Becker will be reserved for tenants earning 60 percent or less of area median income, which is capped at $99,240 for …
LAS VEGAS — The CONAM Group has acquired Reverb at Spring Valley in Las Vegas. The sales price and seller were not disclosed. The 180-unit property was completed in 2000 and consists of two-story, garden-style buildings with a majority of floor plans configured as two-bedrooms. Amenities include a clubhouse with a coffee bar, game room, fitness center and a pool deck with assorted outdoor games, fire pits and barbecues.
WOODLAND HILLS, CALIF. — Waterton, a Chicago-based multifamily and hospitality investor and property manager, has acquired AMLI Warner Center in Woodland Hills. Terms of the deal were not disclosed. The property was developed in 2007 by AMLI Residential. The gated community, located at 21200 Kittridge St. in the San Fernando Valley, will be rebranded as The Kitt at Warner Center. Floorplans include one-, two- and three-bedroom homes. A small percentage of units have been updated, and Waterton plans to upgrade remaining units with new stainless-steel appliances, quartz countertops, new cabinet …
SCOTTSDALE, ARIZ. — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., and joint venture partner, MetLife Investment Management, will break ground in September on Shea Residences in Scottsdale. The project is slated for completion by the end of 2027. The architect is ESG Architects, and Brinkmann Constructors will serve as the general contractor. Shea Residences is a three-story, 189-unit development at 7000 E. Shea Blvd. Positioned on about 3 acres, the project will include studio, one- and two-bedroom units that will feature luxury finishes, such as quartz …
TUCSON, ARIZ. — GDL Asset Management has secured a $22.6 million loan, arranged by JLL Capital Markets, to refinance existing debt on Villas de la Montana in Tucson. The 332-unit community was built in 1988 and features a mix of studios and one-, two- and three-bedroom floor plans. Since acquiring the asset in 2021, GDL has completed renovations across the property, including new cabinetry, plumbing fixtures, hardware, countertops and flooring in the units. The owner also has completed exterior upgrades to common and pool areas, landscaping, signage and parking lots. …
SURPRISE, ARIZ. — Dominium has closed on land in Surprise, a Phoenix suburb about 22 miles northwest of downtown. The developer is planning to build Allasso Ranch on the site. The project will comprise 304 affordable homes supported by low-income housing tax credits. While specific area-median-income caps were not disclosed, the developer says a three-bedroom unit will rent for $1,597 per month, and a four-bedroom will rent for $1,770. According to RentCafe, average monthly asking rents for a three-bedroom in Surprise are about $2,054. Amenities will include a leasing center, …
