California

JPI Breaks Ground on $150 Million First Phase of Mall Redevelopment in Long Beach

by Lynn Peisner January 29, 2026

LONG BEACH, CALIF. — JPI has broken ground on Portico, a 272-unit project with 18,841 square feet of ground-level retail. The $150 million development marks Phase I of a master plan for Mosaic, which is the redevelopment of the former City Place Long Beach shopping center. Completion of the eight-story building is slated for June 2028. City Place Long Beach was developed in the 1990s on about 14 acres in downtown Long Beach. The site was cleared earlier this year. Units will be offered as studios through three-bedroom floor plans …

January 29, 2026

California Investment Sales News Washington Western

IEC, PGIM Buy Four-Property Portfolio for $272 Million

by Lynn Peisner January 22, 2026

LOS ALTOS, CALIF. — Interstate Equities Corp. (IEC), a Los Altos-based investor specializing in value-add assets in California and the Seattle metro area, has acquired a four-property portfolio for $272 million with joint venture partner PGIM. Mesa West Capital provided a $201.5 million acquisition loan arranged by Eastdil Secured. The assets, developed between 1987 and 2015, are The Maddox (184 units) in Sunnyvale, California; Catalyst Mountain View (149 units) in Mountain View, California; Cirrus Redwood City (141 units) in Redwood City, California; and Cumulus SLU (100 units) in Seattle. IEC …

January 22, 2026

California Development News Western

Priority Capital Arranges $174 Million for Phase I of Blosser Ranch in Santa Maria, California

by Lynn Peisner January 20, 2026

SANTA MARIA, CALIF. — Zachary Streit, founder and president of Priority Capital Advisory, has arranged $174 million in financing for Canfield Development’s 160-acre master-planned project Blosser Ranch in Santa Maria. The loans will fund the first phase of construction: a 302-unit, three-story garden-style multifamily community set on 12 acres. The to-be-named property will be comprised of one-, two- and three-bedroom units and such amenities as a pool and hot tub, a clubhouse, fitness and business centers, grills, firepits and a pet park. Construction is underway, and Canfield estimates the apartment …

January 20, 2026

California Finance Industry Voices Investment Sales Operations Western

Why Renter Demand Is Surging Across the San Francisco Bay Area

by Lynn Peisner January 19, 2026

After several years of uncertainty, the San Francisco metro area multifamily housing market is showing clear signs of recovery. The first half of 2025 brought the largest expansion in multifamily demand in years. The 12-month trailing absorption surged to 3,700 units as of the third quarter, one of the highest levels in a decade. Vacancy rates have dropped to 5.1 percent, the lowest since 2014, and apartment rents are up 5.6 percent, placing San Francisco among the top metros in the nation for rent growth. Although sale prices had remained …

January 19, 2026

Affordable Housing California Development News Western

Meta Housing Corp., R.D. Olson Break Ground on $62 Million Affordable Housing Development in Los Angeles

by Lynn Peisner January 15, 2026

LOS ANGELES — General contractor R.D. Olson Construction has broken ground on DeSoto, a $62 million affordable housing development in the Woodland Hills neighborhood of Los Angeles. Meta Housing Corp. is the developer. The project team also includes AC Martin (architect), Mark Beall and Associates (landscape architect), KE Engineering Corp. (civil engineer), TAD Engineering (mechanical engineer) and EB Structural Engineers (structural engineer). Construction of the seven-story building is slated for an early 2028 completion. The 207-unit LIHTC property will be built to achieve LEED certification. The developer has committed to …

January 15, 2026

California Investment Sales New Jersey News Northeast Pennsylvania Washington Western

JRK Buys Three-Property Portfolio From Equity Residential for $400 Million

by Lynn Peisner January 12, 2026

LOS ANGELES — JRK, a Los Angeles-based real estate investment firm, has acquired a three-property, $400 million portfolio from Equity Residential (NYSE: EQR). The properties are Centennial (408 units) in Seattle, 77 Park Avenue (301 units) in Hoboken, New Jersey, and C on Pico (94 units) in Los Angeles. Including this purchase, JRK acquired $1.3 billion in multifamily assets, encompassing 3,400 units, in the United States in 2025, including Edge 1909, a 364-unit property in the Strip District of Pittsburgh acquired in December.

January 12, 2026

3100-3118-Patrick-Henry-Drive-Santa-Clara

Berkadia California Development Investment Sales News Western

Berkadia Arranges $12.5 Million Land Sale in Silicon Valley

by Lynn Peisner January 8, 2026

SANTA CLARA, CALIF. — JEMCOR Development Partners and Scaled Projects acquired a 2.5-acre site in Santa Clara for $12.5 million on Dec. 18. Jason Parr and Scott MacDonald of Berkadia San Francisco arranged the sale. The site is adjacent to Levi’s Stadium, home of the San Francisco 49ers, and is zoned for high-density residential development within the city’s Patrick Henry Drive Specific Plan Area. The plan was adopted by the Santa Clara City Council in 2022 with the goal to redevelop a series of office parks, some developed in the …

January 8, 2026

California Development Investment Sales News Western

Berkadia Arranges $12.5 Million Land Sale in Silicon Valley

by Lynn Peisner January 1, 2026

January 1, 2026

Affordable Housing California Development News Seniors Housing Western

EAH Opens Two Bay Area Affordable Housing Communities

by Lynn Peisner December 22, 2025

HAYWARD, CALIF. — EAH Housing has opened Pimentel Place and Mission Paradise, two ground-up affordable housing developments in Hayward that, combined, include 133 units with rent restrictions ranging from 20 to 80 percent of area median income. Hayward is in Alameda County, about midway between San Jose and San Francisco. Pimentel Place includes 57 units for families. The community offers one- to three-bedroom floor plans with energy-efficient appliances, on-site laundry facilities, bicycle parking, a children’s play area and indoor and outdoor gathering spaces. About 2 miles south, Mission Paradise occupies …

December 22, 2025

Affordable Housing California Development Finance News Western

MidPen Housing Secures $132.8 Million in Grants for Three Central California Affordable Housing Developments

by Lynn Peisner December 19, 2025

SAN JOSÉ, ALAMEDA, AND WATSONVILLE, CALIF. — The California Strategic Growth Council has awarded funding to existing MidPen Housing developments in San José, Alameda and Watsonville that include a total of 362 affordable units as well as transit improvements. Valley Transportation Authority (VTA) Capitol Station in San José was awarded $49.3 million. Located next to the Capitol Light rail station, this transit-oriented development will include 203 affordable rental homes, including 51 permanent supportive housing apartments for formerly homeless individuals. The project will replace an underutilized VTA parking lot with an …

December 19, 2025

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