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Swell-Apartments-Seattle
Affordable HousingFinanceNewsWashingtonWestern

Newmark Arranges $55M Refinancing for Swell Apartments in Seattle

by Lynn Peisner

SEATTLE — Newmark has arranged a $55 million loan on behalf of Mack Real Estate Group, Silverstein Properties and Cantor Fitzgerald to refinance Swell Apartments, a 200-unit community in Seattle. Jordan Roeschlaub, Chris Kramer, Sam Speciale and Lance Tillman arranged the financing with Tokyo-based ORIX, a commercial real estate finance and investment firm. Completed in 2024, Swell Apartments, in Seattle’s Yesler Terrace neighborhood, is comprised of market-rate and affordable units — restricted to tenants earning 60 to 80 percent of area median income — and amenities such as a rooftop …

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Vantage-at-Loveland-Loveland
ColoradoInvestment SalesNewsWestern

JB Matteson Acquires Vantage at Loveland in Colorado for $72.3M

by Lynn Peisner

LOVELAND, COLO. — JB Matteson has acquired the 288-unit Vantage at Loveland from Vantage Communities for $72.3 million, according to Larimer County property records. Loveland is 50 miles north of Denver. Greg Parker and Jason Hornik out of Marcus & Millichap’s Denver office arranged the sale on behalf of the seller. Completed in 2024, Vantage at Loveland features a resort-style pool, clubhouse, fitness center, and outdoor recreation areas. Apartments have washers and dryers, walk-in closets and kitchen islands. JB Matteson is a San Mateo, California-based property management and investment firm. …

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Jessie-Street-Terrace-Santa-Cruz
Affordable HousingCaliforniaDevelopmentNewsWestern

MidPen Housing and Partners Complete Jessie Street Terrace in Santa Cruz, California

by Lynn Peisner

SANTA CRUZ, CALIF. — MidPen Housing has completed and opened Jessie Street Terrace, an affordable housing redevelopment in Santa Cruz. Formerly a 14-room hotel, Jessie Street is now comprised of 50 studio and one-bedroom permanent supportive housing units reserved for tenants earning between 20 and 50 percent of area median income. About half the apartments are reserved for veterans, while others are set aside for people who have previously experienced homelessness. MidPen Property Management manages the property. Through partnerships with Palo Alto Veterans Affairs and the County of Santa Cruz …

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Alderwood-Ukiah
CaliforniaInvestment SalesNewsWestern

Northmarq Arranges $23.5M Northern California Sale

by Lynn Peisner

UKIAH, CALIF. — Northmarq has brokered the $23.5 million sale of a two-property portfolio in Ukiah, 115 miles north of San Francisco. The properties are Sierra Sunset Village (68 units) and Alderwood Apartments (53 units). Zach LeBeouf and Anthony Pappageorge led Northmarq’s Walnut Creek Investment Sales team, which represented the seller, Capital Investors LLC. The name of the buyer was not disclosed. Sierra Sunset Village features predominantly two-bedroom apartments and a pool, fitness center and outdoor picnic area. Alderwood Apartments offers a mix of two- and three-bedroom units along with …

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Crawford-Commons-Clifton
Affordable HousingColoradoDevelopmentFinanceNewsWestern

Developers Awarded Tax Credits for Colorado Affordable Housing Project

by Lynn Peisner

CLIFTON, COLO. — Housing Resources of Western Colorado (HRWC) and Evergreen Real Estate Group have been awarded 9 percent Low-Income Housing Tax Credits (LIHTC) for the development of Crawford Commons Apartments in Clifton, about 7 miles east of Grand Junction, Colorado. The 60-unit affordable housing community will provide townhome-style units to renters earning between 30 and 80 percent of area median income. LIHTC investors and syndicators were not announced. Holst Architecture is the architect, and Shaw Construction will serve as general contractor. The community will be built on land donated …

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East-Howe-Steps-Seattle
Investment SalesNewsWashingtonWestern

IPA Arranges $35.1M Sale of East Howe Steps in Seattle

by Lynn Peisner

SEATTLE — Bender Equities has sold East Howe Steps in Seattle’s Eastlake neighborhood for approximately $35.1 million. The buyer was Sequel Investment Co. and Evergreen Gavekal. Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented Bender. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen and Tyler Johnson of IPA Capital Markets arranged acquisition financing. Completed in 2016, East Howe Steps is a two-building, four-story property with a rooftop deck, landscaped courtyards, a fitness center, controlled access parking, bike storage and on-site paddleboard and kayak …

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Zia-Anaheim
CaliforniaInvestment SalesNewsWestern

MBK Rental Living, Haseko Sell Zia in Anaheim

by Lynn Peisner

ANAHEIM, CALIF. — MBK Rental Living and development partner Haseko Corp. have sold Zia, a 315-unit community in Anaheim that opened in September 2024, for an undisclosed price. The buyer was an unnamed institutional investor. Zia is a five-story community with studios and one-, two- and three-bedroom residences along with a 24-hour fitness center, pool with grill and bar areas, a dog park and spa, coworking spaces that include conference rooms, courtyards and a game lounge with a race car simulator.

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Waterford-Milpitas-California
Affordable HousingCaliforniaDevelopmentNewsWestern

Waterford Breaks Ground on 75-Unit Affordable Housing Development in Silicon Valley

by Lynn Peisner

MILPITAS, CALIF. — Waterford Property Co., in partnership with C&C Development, has broken ground on a 75-unit affordable housing project in Milpitas. The 4 percent Low-Income Housing Tax Credit (LIHTC) community has an estimated development cost of $47.6 million, according to the California Tax Credit Allocation Committee. The to-be-named property is slated for completion in early 2028 and is part of a larger residential planned community that also includes for-sale homes built by PulteGroup. Units will be reserved for families earning between 30 and 70 percent of area median income. …

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The-Samuel-San-Diego
CaliforniaDevelopmentFinanceNewsWestern

CEDARst Cos. Secures $80M Construction Loan for The Samuel in San Diego

by Lynn Peisner

SAN DIEGO — Chicago-based CEDARst Cos. has obtained an $80 million construction loan to develop The Samuel, a 197-unit community in San Diego’s North Park neighborhood. JLL’s Zach Kersten, Jack Wood and Ben Choromanski arranged the three-year, floating rate loan through Boston-based CrossHarbor Capital Partners. Located at 2821 Adams Ave., The Samuel will be an eight-story development comprised of studios, one- and two-bedroom units and a pool, fitness center, coworking lounge, fire pits, game deck and a rooftop lounge with an outdoor kitchen. Construction is expected to begin later this …

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Mission-Grove-Riverside
Build-to-RentCaliforniaDevelopmentFinanceNewsWestern

Canyon Partners Provides $74.4M Construction Loan for Inland Empire BTR Project

by Lynn Peisner

RIVERSIDE, CALIF. — Canyon Partners and J.P. Morgan have provided a $74.7 million construction loan for a ground-up, rental townhome development project in Riverside’s Mission Grove neighborhood. The developer is BCT Development, a joint venture between Bain Capital Real Estate and Cherry Tree Development. An official proper name of the community has not been released. It will include 180 rental townhomes in a mix of two-, three- and four-bedroom floor plans and amenities such as a pool, fitness center and clubhouse. A construction timeline was not disclosed. The financing represents …

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