Western

IPA Arranges $18.1M Sale of The Place at 2120 in Tucson

by Lynn Peisner November 2, 2026

TUCSON, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of The Place at 2120, a 202-unit property on Silverbell Road in Tucson. Scottsdale, Arizona-based The Founders Group sold the asset to Los Angeles-based AndMark for approximately $18.1 million. IPA’s Hamid Panahi and Clint Wadlund led the transaction. Built in 1986, on about 7 acres, The Place at 2120 is a 12-building property with one-, two- and three-bedroom floor plans. Community amenities include a pool and hot tub, fitness center, dog park, laundry facility and a playground.

November 2, 2026

Affordable Housing California Development Finance News Western

Truist Provides $152M for Long Beach Office Redevelopment

by Lynn Peisner October 30, 2026

LONG BEACH, CALIF. — Truist has provided a $152 million construction loan to Carmel Partners for Marina Shores, a 390-unit mixed-income development underway at 6615 E. Pacific Coast Highway in Long Beach. The San Francisco-based investment and development firm is leading the six-story project, with completion slated for May 2029. The development will replace two older office buildings and surface parking with apartments and 5,351 square feet of ground-floor retail space. A third existing office building on the property will remain. Plans also call for 576 parking spaces, 196 bicycle …

October 30, 2026

Investment Sales News Washington Western

FPA Multifamily Buys Northline in Seattle for $17.8M

by Lynn Peisner October 29, 2026

SEATTLE — Rise Properties Trust has sold Northline, a 111-unit property in Seattle, to FPA Multifamily for approximately $17.8 million. Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented the seller and procured the buyer. Located in Seattle’s Bitter Lake neighborhood, Northline offers a resident lounge, dog park and a covered outdoor gathering area with grills, a fireplace and seating.

October 29, 2026

Build-to-Rent California Development News Western

Lewis Apartments Opens Independence in West Sacramento

by Lynn Peisner October 28, 2026

WEST SACRAMENTO, CALF. — Lewis Apartments, the multifamily development and management arm of Upland, California-based Lewis Group of Cos., has completed and opened Independence, a 208-unit, rental townhome community in the Southport area of West Sacramento. The community comprises two- and three-bedroom units ranging from approximately 1,176 to 1,722 square feet, with private entrances, direct-access one- and two-car garages and private outdoor living spaces. Amenities include a heated pool and a hot tub area with cabanas, a 24-hour fitness center, pickleball courts, outdoor barbecue and gathering areas, a fire table, …

October 28, 2026

California Finance News Western

Northmarq Arranges $95.8M in Refinancing Loans for Los Angeles Portfolio

by Lynn Peisner October 27, 2026

LOS ANGELES — Locally based E&S Ring Management Corp. has obtained $95.8 million in loans to refinance a six-property, 1,461-unit portfolio. E&S owns and operates the communities, which are located throughout metro Los Angeles. Northmarq’s Nathan Prouty, Andrew Slaton and John Holt arranged the financing, structured as six separate loans, in fixed and floating-rate structures, through lender Voya Investment Management. The financing replaces existing debt across the portfolio, including four loans originally placed with Voya in 2007. The properties include Casa Granada in Brentwood (168 units); Meadows South in Culver …

October 27, 2026

Features From the Magazines Market Reports Washington Western

Seattle Draws Investors While Supply Pressures Ease

by Lynn Peisner October 26, 2026

By Frank Hornung and Sergey Klimov When Microsoft moved to the Seattle area in 1979, joining well-established Pacific Northwest companies such as Boeing (aerospace) and Weyerhaeuser (timberland), it set off an enduring tech boom. Fifteen years later, when Jeff Bezos was starting his online bookstore that eventually became Amazon, he chose Seattle for its abundance of tech talent. Today, Microsoft and Amazon together employ almost 100,000 people, Zillow and Expedia are both headquartered in the metro area, and Google, Meta, Apple and Oracle all have major outposts there. This critical …

October 26, 2026

Affordable Housing California Development News Western

MidPen Housing Completes Ira D. Hall Square in Silicon Valley

by Lynn Peisner October 23, 2026

SUNNYVALE, CALIF. — MidPen Housing has completed and opened Ira D. Hall Square in Sunnyvale. The 176-unit property comprises studios, one-, two- and three-bedroom units that are reserved for residents earning up to 30 to 70 percent of area median income, which is approximately $43,170 to $100,730 for a one-person household. Ira D. Hall Square is adjacent to the Lawrence Caltrain Station and is the first development built under the city’s Lawrence Station Area Plan, which calls for a mixed-use district around the transit hub. MidPen Property Management manages the …

October 23, 2026

California Investment Sales News Western

Kennedy Wilson and Partners Acquire 312-Unit San Jose Community for $176M

by Lynn Peisner October 22, 2026

SAN JOSE, CALIF. — Kennedy Wilson has partnered with two Japanese investment firms to acquire One South Market, a 312-unit community in downtown San Jose, for $176 million. The investment partners are Tokyo-based real estate company Hulic Co. Ltd. and Fuyo General Lease (USA) Inc., the U.S. subsidiary of Japanese financial services company Fuyo General Lease Co. Ltd. The acquisition marks Beverly Hills, California-based Kennedy Wilson’s fifth joint venture with Hulic and its first with Fuyo. Locally based Lakevision Capital was the seller. Built in 2015, One South Market is …

October 22, 2026

California Investment Sales News Student Housing Western

IPA Arranges $204.8M Trade of Silicon Valley Student Housing High-Rise

by Lynn Peisner October 19, 2026

SAN JOSE, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of The Grad San Jose, a 260-unit, 1,035-bed purpose-built student housing high-rise half a mile south of San Jose State University. AMCAL, Swenson and Tikehau Capital sold the property to a joint venture between Coastal Ridge Real Estate and Brookfield for approximately $204.8 million. The Grad was 100 percent leased at the time of the sale. Completed in 2020, The Grad offers furnished one- to four-bedroom floor plans, most with private bedrooms and private bathrooms, along with kitchens …

October 19, 2026

California Development News Western

National City Investment Group Breaks Ground on Market View in Metro San Diego

by Lynn Peisner October 19, 2026

NATIONAL CITY, CALIF. — The National City Investment Group has broken ground on Market View, a 120-unit community situated on a former parking lot at 303 Highland Ave. in National City, seven miles south of San Diego. RDC is the architect, and R.D. Olson Construction is the general contractor. The property will consist of studios and one- and two-bedroom floor plans along with a rooftop deck with ocean views, coworking space and an outdoor yoga deck. Completion is slated for the first quarter of 2028.

October 19, 2026

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