LOS ANGELES — The Dinerstein Cos. has hired Josh Rebholz to the role of vice president of capital markets and Scott Wandzilak as director of capital markets. Based in The Dinerstein Cos.’s recently established office in Los Angeles, Rebholz and Wandzilak will spearhead capital raising efforts for company’s fund platform and investment management business. Prior to joining The Dinerstein Cos., Rebholz was the executive senior associate athletic director at the University of California, Los Angeles (UCLA). He holds a bachelor’s degree in integrated studies from Weber State University and a …
VANCOUVER, WASH. — An entity associated with Clarion Partners has purchased Willow Pointe, a 191-unit property situated on 15 acres in Vancouver, for $45.5 million. The average unit size is 1,162 square feet. Anthony Palladino, Giovanni Napoli, Philip Assouad, Ryan Harmon and Nick Ruggiero of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, a local private partnership, and procured the buyer in the deal.
SACRAMENTO, CALIF. — Nuveen Real Estate has received an allocation of $400 million from the California Public Employees Retirement System (CalPERS) for the company’s Nuveen Real Estate U.S. Affordable Housing Fund. Nuveen states that the fund, which launched in 2023, aims to preserve housing for renters earning less than 80 percent of the area median income (AMI), with a concentration of households earning less than 60 percent of AMI. This allocation follows CalPERS’ previous $100 million investment to the fund in June 2024, bringing CalPERS’ total commitment to the fund …
SEATTLE AND PORTLAND, ORE. — A real estate fund managed by Kennedy Wilson has acquired Axel and Denizen, two properties located in the Pacific Northwest, for a total of $110 million. The seller was not disclosed. Built in Seattle in 2018, Axle offers 226 units, including eight townhomes. Units come in one- and two-bedroom floor plans. Amenities include a resident lounge, sky lounge and outdoor deck, coworking spaces, a fitness center, pet run and game room. Denizen was built in 2020 in Portland. The community features 212 studio, one- and …
KENMORE, WASH. — Weidner Apartment Homes has sold Heron View, a 72-unit community in Kenmore, roughly 14 miles north of Seattle. Wright Investment Properties purchased the asset for $19.9 million. Built in 1987, Heron View consists of three residential buildings and a leasing office surrounding a central parking lot. Units come in one- and two-bedroom floor plans, with an average size of 797 square feet. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and …
LAGUNA BEACH, CALIF. — CBRE has brokered the sale of Sterling Plaza Apartments, a 12-unit community located at 2607 Solana Way in Laguna Beach, approximately 25 miles south of Anaheim, California. The asset traded hands for $7.4 million. Built in 1962 and 1963, Sterling Plaza Apartments consists of 9,823 square feet of rentable space. The community offers one- and two-bedroom floor plans, including a two-bedroom penthouse. Each apartment is individually metered for electricity. The property also features 14 parking spaces, including 11 carports and three open spaces, as well as …
BUCKEYE, ARIZ. — Thompson Thrift has opened The Maddox, a 252-unit community located at 23683 W Yuma Road in Buckeye, roughly 40 miles west of Phoenix. The garden-style asset consists of seven buildings that each rise three stories, as well as 80 detached garages. Units come in one-, two- and three-bedroom layouts and average about 1,000 square feet. Community amenities include a clubhouse, heated pool, fitness center, Amazon package hub, outdoor game area, grilling stations, courtyards, firepits with seating area, a dog park, pet spa with grooming station and a …
TACOMA, WASH. — Goodman Real Estate has completed the disposition of three properties totaling 557 units in Tacoma’s Parkland neighborhood. American Capital Group purchased the assets for $102.6 million. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. The properties included in the sale were:
CASTLE PINES, CALIF. — Thompson Thrift has completed the disposition of Citadel at Castle Pines, a 214-unit community located at 353 Edge View Circle in Castle Pines, about 25 miles south of Denver. Matt Barnett, Jake Young and Taylor Payne of Walker & Dunlop brokered the transaction. The buyer and sales price were not disclosed. Citadel at Castle Pines was completed in December 2023. The community features 145 one- and two-story paired villa-style homes, as well as 60 three-story townhomes. Residents have access to amenities such as a social lounge, pickleball …
SANTA FE, N.M. — Affiliates of Paceline Equity Partners LLC, a Dallas-based private equity manager, have acquired 17 acres of land for the development of a build-to-rent community in Santa Fe. Once completed, the property will feature 183 single-family rental homes. The unnamed development will be Paceline’s first partnership with Verdot Capital, the project’s developer. A construction timeline was not disclosed.