Western

Bryant-AYL-Yorba-Linda
CaliforniaFinanceNewsWestern

IEC Secures ReFi for Bryant at Yorba Linda

by Lynn Peisner

YORBA LINDA, CALIF. — Walker & Dunlop has arranged $145.8 million in debt and equity for Interstate Equities Corp. (IEC). The Los Altos, California-based investment firm is refinancing Bryant at Yorba Linda, a 400-unit community in Yorba Linda, located 37 miles east of Los Angeles. IEC acquired the property in 2022. Developed in 1986, Bryant at Yorba Linda features one- and two-bedroom floor plans and amenities such as a clubhouse, a fitness center, a pool and hot tub, a playground, dog park and a sports court.

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Summer-Oaks-Sonoma
Affordable HousingCaliforniaDevelopmentNewsWestern

MidPen Housing Is Developing 72-Unit Affordable Housing Community in Sonoma Valley, California

by Lynn Peisner

SONOMA, CALIF. — MidPen Housing is underway on the development of Summer Oaks, a 72-unit affordable housing community in Sonoma. When complete in fall 2026, Summer Oaks will be leasing one-, two- and three-bedroom apartments to families earning up to 60 percent of area median income, which currently is $75,480 for a family of four. Fifty-two of the units are specifically reserved for residents who work in farming and agriculture. Financing for the development was provided through both public and private sources including the County of Sonoma, the California Department …

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The-Ridian-Denver
ColoradoDevelopmentFinanceNewsWestern

Trailbreak Partners Refinances Ridian Apartments in Denver

by Lynn Peisner

DENVER — JLL Capital Markets has arranged $37.1 million in construction takeout financing for Trail Partners’ Ridian Apartments in Denver. An insurance company’s debt fund was the floating-rate loan’s capital provider. Construction of Ridian was completed earlier this year. The property is comprised of 123 units in a mix of studios and one- and two-bedroom units as well as such amenities as a resort-style pool and hot tub, a rooftop lounge with mountain and city views, a fitness center, a clubhouse with coworking spaces, a covered garage parking, 24-hour security …

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Ramsgate-Los-Angeles
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Six Peak Capital Locks in Construction Loan, Breaks Ground on L.A. Affordable Housing Project

by Lynn Peisner

LOS ANGELES — Zachary Streit of Priority Capital Advisors has arranged a $31.3 million construction loan for Six Peak Capital to develop a 116-unit affordable housing community located at 9033 Ramsgate Ave. in the Westchester neighborhood of Los Angeles. The development is a Los Angeles Executive Directive 1 (ED1) project. ED1 projects provide affordable housing developers with leniencies such as increased density and building height, reduced parking requirements and an accelerated review and permitting process. Rent restrictions were not disclosed, but many ED1 projects include units with rents capped at …

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Sentral-Houston
CaliforniaNewsOperationsTexasWestern

Sentral Tapped to Manage Texas and California Properties

by Lynn Peisner

DENVER — Multifamily property management company Sentral has added three properties to its management portfolio. The first is an unnamed community still under construction in Houston. The 32-story, 475-unit development is slated to open in early 2026. The developers are Raven Capital Management and RCM Living. Star Harbor, owned by Strada Investment Group, in Alameda, California, is the second property, and the third is 830 Eddy in San Francisco. The owner of 830 Eddy was not disclosed. Sentral’s hospitality-styled management model offers both short-term stays in furnished units as well …

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Scottsdale-on-Main
ArizonaInvestment SalesNewsWestern

IPA Arranges Sale of $66 Million Mid-Rise in Scottsdale, Arizona

by Lynn Peisner

SCOTTSDALE, ARIZ. — Baron Properties has sold Scottsdale on Main to Goodman Real Estate for $66.1 million. Institutional Property Advisors’ Steve Gebing and Cliff David represented the seller and procured the buyer. The 119-unit mid-rise property was developed in 2024. Amenities include a resort-style pool and a rooftop deck with a covered outdoor kitchen and lounge. Apartments have 10-to-12-foot ceilings, wine refrigerators, oversized pantries and walk-in showers. The average unit size is 872 square feet.

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Fullerton-TDC
CaliforniaDevelopmentNewsWestern

Dinerstein Breaks Ground on Fullerton, California, Project

by Lynn Peisner

FULLERTON, CALIF. — The Dinerstein Cos. has begun construction of Atlas Fullerton, a 329-unit, five-story community in Fullerton, about 25 miles southeast of Los Angeles. Located at 229 East Orangethorpe Ave., Atlas Fullerton will include approximately 5,995 square feet of retail space and a 617-space parking garage. The amenity package will include a leasing center, a clubhouse, outdoor lounge, a pool and hot tub, a fitness center, coworking spaces, bike storage and repair, a coffee bar, dog park and a mail room. Completion is slated for 2027.

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Affordable HousingCaliforniaInvestment SalesNewsWestern

EAH Buys Two Affordable Communities Near Los Angeles

by Lynn Peisner

LANCASTER, CALIF. — EAH Housing has acquired two affordable housing properties in Lancaster, about 69 miles north of Los Angeles. The developments, Arbor Lofts and Sagebrush I & II, provide affordable rental housing for households earning between 30 and 60 of the area median income. Arbor Lofts, located on Lancaster Boulevard, is a 21-unit low-rise community built in 2009 with four-bedroom apartments. The property also features 3,800 square feet of commercial space. Sagebrush I & II, located on Milling Street and built in 2011, offers 61 three- and four-bedroom apartments …

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Neil-Hanlon
ArizonaCompany NewsNevadaNewsPeople NewsWestern

Woodfield Development Hires Neil Hanlon to Lead Southwest Expansion

by Lynn Peisner

PHOENIX — Woodfield Development has appointed Neil Hanlon as vice president of development. He will lead the firm’s expansion into Arizona and Nevada, namely into the Phoenix and Las Vegas metro areas. In this role, Hanlon will be responsible for sourcing new business opportunities and overseeing all phases of the development process. Hanlon comes to Woodfield from Greystar, where he was director of development in Phoenix, leading multifamily development projects throughout the Southwest and Mountain West markets. Raleigh, North Carolina-based Woodfield was founded in 2005.

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Alderra-Apartment-Homes-Puyallup
Investment SalesNewsWashingtonWestern

CBRE Arranges $56.5 Million Sale in Puyallup, Washington

by Lynn Peisner

PUYALLUP, WASH. — Auctus Capital Partners has sold Alderra Apartment Homes for $56.5 million to an undisclosed buyer. The 200-unit community in Puyallup, about 15 miles southeast of Tacoma, was built in 2003 and includes one- and two-bedroom apartments as well as townhomes. Amenities include a pool, fitness center, a clubhouse and a playground. CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper represented the seller. The buyer was an entity doing business as AMFP VII Alderra LLC, according to regional lifestyle magazine South Sound.

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