SAN TAN VALLEY, ARIZ. — Thompson Thrift has opened Stella, a 308-unit community located roughly 48 miles southeast of downtown Phoenix in San Tan Valley. The property will consist of 12 two- and three-story buildings on a 20-acre site. Units will come in one-, two- and three-bedroom floor plans. Amenities include a pool, outdoor pavilion, pickleball courts, two dog parks, gardens and Wi-Fi connectivity. The first move-ins began in winter 2024. The project is slated for full completion by the end of this summer.
LOS ANGELES — SoLa has received a $34.8 million construction loan for 4301 Vermont, an affordable housing development in Los Angeles. Located at 4301 Vermont Ave., the five-story property will offer 188 units. Approximately 80 percent of the units will be designated for low-income residents, while 20 percent will be reserved for moderate-income residents. The project will feature prefabricated modular units supplied by Model Z, a subsidiary of SoLa Impact. Chris Montes of Walker & Dunlop secured the loan on behalf of the client. The lender was ACORE Capital.
EVERETT, WASH. — Weidner Apartment Homes has sold Sunrise Lane, a 131-unit property in Everett, roughly 29 miles north of Seattle, for $35 million. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the undisclosed buyer. Built in 2000 on six acres, Sunrise Lane is a gated community that offers a mix of one-, two- and three-bedroom apartments. The average unit size is 1,020 square feet. Shared amenities include a clubhouse, pool, spa and …
RANCHO PALOS VERDES, CALIF. — The Bascom Group has acquired Highridge Apartments in Ranchos Palos Verdes, 30 miles south of Los Angeles, for $127 million. Built in 1972, the property features 257 apartments, as well as 28 loft-style units. The average unit size is 1,157 square feet. Tenants have access to amenities such as on-site parking, two pools and spas, two fitness centers, a tennis court and a clubhouse. The complex has undergone significant upgrades and renovations over the years, including the addition of in-unit washers and dryers and enhanced …
Late last summer, optimism ran steady across the multifamily investment sales market. Prior to the Federal Reserve’s initial rate cut in September 2024, interest rates had remained stable throughout the year. The outlook was positive. But that more ebullient market proved temporary. The Fed’s interest rate cut had a positive effect on the secured overnight financing rate (SOFR), which fell from 5.3 percent on Sept. 18, 2024, to 4.3 percent in early February 2025. The U.S. 10-year Treasury yield rose during the same period. On Sept. 18, 2024, the 10-year …
SAN RAFAEL, CALIF. — CBRE has negotiated the $5.6 million sale of Pacifica Apartments, a 20-unit asset in San Rafael, about 18 miles north of San Francisco. Ben Mollahan and Adam Foley of CBRE represented the buyer, an entity doing business as 55 Canal Street LLC, in the deal. The seller was not disclosed. Located at 55 Canal Street, Pacifica Apartments consists of entirely two-bedroom units. Amenities include a courtyard with a children’s play area and garden, community laundry facility, covered parking and storage for each tenant.
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Webinar: Resident Retention at Risk — How to Prevent Quiet Leaving
The Feb. 25 webinar “Resident Retention at Risk — How to Prevent Quiet Leaving,” sponsored by Opiniion, brought together industry experts to discuss the most pressing challenges in multifamily and student housing and their strategies to improve resident satisfaction and retention. This one-hour discussion explored key factors influencing move-outs, including communication gaps, maintenance concerns and lease renewal hesitations. Speakers shared insights on effective property management strategies, community-building initiatives and engagement tactics that drive resident loyalty. The session highlighted best practices for feedback collection, strategic development and the role of online …
GRESHAM, ORE. — PH Development LLC has received $15.9 million in financing for the development of Woodland Flats, a hotel-to-multifamily conversion project located at 2752 NE Hogan Drive in Gresham, about 17 miles west of Portland. The project includes the conversion of an existing hotel into 120 apartments, as well as 6,400 square feet of ground-floor retail space. Units will come in studio, one- and two-bedroom floor plans. Monthly rates will range from $1,200 to $1,600 per month. Community amenities will include a pool, fitness center and exterior courtyard. Tom Wilson, …
BUENA PARK, CALIF. — C&C Development and Riverside Charitable Corp. have broken ground on Lincoln Avenue Apartments, an affordable housing project in Buena Park, roughly seven miles west of Anaheim, California. The project will comprise 54 apartments across four three-story buildings. The unit mix includes five residences for student families, 11 apartments for veterans and 13 permanent supportive housing units for families and individuals with special needs. Income restrictions were not disclosed. Units will range from approximately 500 to 900 square feet and will be both ADA-accessible and adaptable. The …
PHOENIX — Goodman Real Estate has purchased Town Deer Valley Apartments, a 388-unit property located in Phoenix, for $131.1 million. Residents have access to shared amenities such as multiple pools and fitness facilities. Town Deer Valley was built in 2022, according to Apartments.com. Units come in one-, two- and three-bedroom floor plans. The seller was not disclosed. Institutional Property Advisors’ Phoenix office brokered the deal. Walker & Dunlop arranged financing for the project.