Western

The-Payton-Portland
FinanceNewsOregonWestern

ColRich Secures $40.5M Refinancing for Luxury Pacific Northwest Property

by Lynn Peisner

PORTLAND, ORE. — JLL has arranged a $40.5 million refinancing loan for The Payton, a 162-unit Class A property in Portland’s Lloyd District area. San Diego-based ColRich is the borrower/owner. Prime Finance was the lender. The Payton, 98 percent occupied as of August, is a seven-story mid-rise community built in 2019. Amenities include a 24-hour fitness center, bicycle storage, two outdoor decks with grilling areas, a clubhouse, wine lockers, electric car charging stations and underground parking. JLL’s team was led by Aldon Cole, Jimmy Conley, Brock Knapp, Sean O’Brien, Ben …

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Sumner-Mill-Sumner
FinanceNewsWashingtonWestern

Mesa West Capital Originates $52M ReFi for Sumner Mill in Metro Seattle

by Lynn Peisner

SUMNER, WASH. — Mesa West Capital has provided Timberlane Partners with a $52 million short-term, first-mortgage loan to refinance Sumner Mill Apartments, a 162-unit community in Sumner, about 40 miles south of Seattle. Timberlane developed Sumner Mill, opening the property in 2024. It is situated on approximately 4 acres and is comprised of studios, one- and two-bedroom units along with a pool, fitness center, clubhouse with a kitchen, conference room, package room, dog park, picnic area, electric vehicle chargers and rooftop solar panels. The financing was arranged by Jake Roberts …

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Shores-Marina-del-Rey
CaliforniaInvestment SalesNewsWestern

Jackson Square Acquires Marina del Rey Asset for $170M

by Lynn Peisner

MARINA DEL REY, CALIF. — An affiliate of San Francisco-based Jackson Square Properties has acquired Shores, a 544-unit community in Marina del Rey for $170 million. Law firm Cox, Castle & Nicholson advised the seller, an entity doing business as Shores LLC, on the sale. Shores is a marina-adjacent community of 12 interconnected, five-story buildings featuring one- and two-bedroom floor plans. In addition to views of the Pacific Ocean, the property features a 2.5-acre courtyard with a pool, dual hot tubs, fire pits, barbecue areas and a bocce court. Shores …

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Fox-Hill-Golden
ColoradoInvestment SalesNewsWestern

Monarch Sells Long-Held Colorado Asset Fox Hill for $32M

by Lynn Peisner

GOLDEN, COLO. — Monarch Investment & Management Group has sold Fox Hill Apartments in Golden for $32 million. Sierra Parkway Communities was the buyer, and JLL arranged the transaction on behalf of Monarch, which owned Fox Hill for about 30 years. Located at 17611 W. 16th Ave., the community was built in 1972 and has averaged 96 percent occupancy since 2021. Jordan Robbins, Wick Kirby, Alex Possick and Seth Gallman headed up the JLL team.

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Portola-Bridge-Creek-Vancouver
FinanceNewsWashingtonWestern

JLL Arranges $42M Refinancing for Portola Bridge Creek in Vancouver, Washington

by Lynn Peisner

VANCOUVER, WASH. — JLL has arranged a $42 million Fannie Mae refinancing loan for Portola Bridge Creek, a 270-unit, garden-style community in Vancouver. The borrower was Irvine, California-based SB Real Estate Partners, which has owned the property since 2022. Built in 1989, Portola Bridge Creek offers one-, two- and three-bedroom floor plans along with a pool with poolside grills, playground, dog parks, an automated Amazon package locker and a 24-hour fitness center. Charles Halladay, Rick Salinas and Elijah Lax led JLL’s team.

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Ascent-on-Steamboat-Reno
FinanceNevadaNewsWestern

Newmark Arranges $33.5M Fannie Mae Loan for Ascent on Steamboat in Reno, Nevada

by Lynn Peisner

RENO, NEV. — Newmark has arranged a $33.5 million Fannie Mae loan to refinance Ascent on Steamboat, a 204-unit community in Reno owned by Elan Multifamily Investments. Newmark’s Lowell Takahashi and Vince Punzi arranged the five-year, fixed rate loan. Located at 3300 Skyline Blvd. in Reno’s Old Southwest neighborhood, Ascent on Steamboat is comprised of one- and two-bedroom units and a pool, fitness center and clubhouse.

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AVIA-Mesa
ArizonaInvestment SalesNewsWestern

Geringer Capital Sells Avia 266 in Metro Phoenix for $52.4M

by Lynn Peisner

MESA, ARIZ. — CBRE has arranged the $52.4 million sale of Avia 266. Beverly Hills, California-based Geringer Capital sold the 267-unit community in Mesa, which will be renamed The Remy, to San Diego-based ColRich. The sales price includes the assumption of an existing HUD loan. The property was developed in 1984 and includes two pool and hot tub areas, a 24-hour fitness center, an outdoor courtyard, a clubhouse with a community kitchen, package lockers and a fenced dog park. CBRE’s Matt Pesch, Asher Gunter and Austin Groen represented Geringer in …

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Alicante-Las-Vegas
Investment SalesNevadaNewsWestern

CONAM Acquires 232-Unit Alicante Apartments in Las Vegas

by Lynn Peisner

LAS VEGAS — CONAM Group, through its Strategic Investments Fund IV, has acquired Alicante Apartment Homes, a 232-unit community in Las Vegas’ Spring Valley submarket. The identity of the seller was not disclosed, but Sares Regis Group acquired the asset in 2022. The gated community, built in 2001, consists of 232 one-, two- and three-bedroom units across two-story, garden-style buildings on approximately 11 acres. Amenities include a pool and hot tub, fitness center with yoga and spin studios, clubhouse, billiards room, dog park, playground and package lockers.

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Camden-Hollywood
CaliforniaInvestment SalesNewsWestern

BlackRock Acquires 11-Property Camden Property Trust Portfolio for $1.6B

by Lynn Peisner

HOUSTON — Camden Property Trust (NYSE: CPT) has sold an 11-property, 3,620-unit apartment portfolio in Southern California for approximately $1.6 billion. The buyer was an investment entity managed by BlackRock (NYSE: BLK). According to JLL, which represented Camden in the sale, the portfolio’s 3,620 units equal 16.5 percent of the relevant Southern California markets’ average annual transaction volume by unit count over the past five years. JLL characterized the transaction as unusually large for markets where owners typically hold multifamily properties for long periods. The properties are located across Los …

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Terramonte-at-Foothill-Pomona
CaliforniaInvestment SalesNewsWestern

Inland Empire Asset Trades for $36.7M

by Lynn Peisner

POMONA, CALIF. — Positive Investments has sold Terramonte at Foothill in Pomona to Sack Capital Partners for $36.7 million. IPA’s Kevin Green, Chris Zorbas, Joseph Grabiec, Alexander Garcia Jr. and Greg Harris arranged the Inland Empire deal. The 138-unit asset was built in 1963 on 9 acres and was renovated between 2012 and 2023. Terramonte at Foothill has two pools, sun decks, a hot tub, fitness center, barbecue pavilion, coworking space and garages. The unit mix includes studios, one-, two- and three-bedrooms with an average unit size of 910 square …

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