Western

MG Properties Buys Vegas Property for $64 Million

by Lynn Peisner September 25, 2025

LAS VEGAS — MG Properties has acquired The Pearl at St. Rose from an affiliate of the CONAM Group for $64 million. The asset was built in 2000 and is located within the Silverado Ranch master-planned community in Southeast Las Vegas. This trade marks San Diego-based MG Properties’ ninth acquisition so far in 2025. The 270-unit Pearl at St. Rose offers amenities such as a pool and hot tub, a fitness center, a dog park and a clubhouse. CONAM was represented by Charles Steele, John Cunningham and Jared Glover of …

September 25, 2025

Investment Sales News Washington Western

CBRE Arranges $94.9 Million Seattle Transaction

by Lynn Peisner September 25, 2025

SEATTLE — CBRE has arranged the $94.9 million sale of 8th + Republican in Seattle’s South Lake Union neighborhood. CBRE did not disclose the identity of either party to the transaction, but according to the Daily Journal of Commerce, the buyer was locally based Goodman Real Estate along with an unnamed partner, and the seller was the original developer, Scottsdale, Arizona-based The Wolff Co. CBRE’s Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper represented the seller. According to CBRE Research, this transaction is one of the highest prices per …

September 25, 2025

California Investment Sales News Western

CBRE Arranges Two Orange County Sales Totaling $17.4 Million

by Lynn Peisner September 25, 2025

GARDEN GROVE, CALIF. — CBRE has arranged the sale of two communities in Garden Grove, about 22 miles west of Long Beach. Each property is approximately 40 years old and has never been on the market. The transactions involved separate buyers and sellers. The first property, Meadow Grove, is a 33-unit community at 13882 Clinton St. that sold for $12.9 million. It was developed in 1985. The unnamed seller was the heir of the original developer. The second property is Nutwood Street, which includes 15 units located at 12841–12879 Nutwood …

September 25, 2025

Investment Sales News Washington Western

IPA Arranges $33 Million Metro Seattle Sale

by Lynn Peisner September 24, 2025

BELLEVUE, WASH. — The Sobrato Organization has acquired Park Metro Apartments in Bellevue, Washington, for $33 million. The seller was an entity doing business as Northpoint Parkmetro LLC that was represented in the deal by IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino. “Completed in 2014, the property is primed for a light-value add program,” said Napoli. Amenities at Park Metro include a resident lounge, a rooftop terrace, a fitness center and electric vehicle charging stations. The community offers 78 units in a mix of studios, …

September 24, 2025

Development Nevada News Western

NRP Group, Haseko Underway on $133 Million Las Vegas Project

by Lynn Peisner September 24, 2025

LAS VEGAS — The NRP Group has partnered with Haseko North America, the U.S. subsidiary of a Japanese condominium builder, and broken ground on a $133 million community in Las Vegas. Located at the northeast corner of West Maule Avenue and Gagnier Boulevard, the site is across from the Durango Casino & Resort and adjacent to The UnCommons, a mixed-use destination featuring apartments, retail, dining and office space. The four-story, single-building development will comprise a mix of 309 studio, one-, two- and three-bedroom units. Amenities include a pool, two landscaped …

September 24, 2025

Investment Sales News Utah Western

Gelt Venture Partners Acquires 142-Unit Property in American Fork, Utah

by Lynn Peisner September 23, 2025

AMERICAN FORK, UTAH — Gelt Venture Partners (GVP) has acquired Alvera at the Meadows in American Fork, about midway between Provo and Salt Lake City. The seller was a joint venture between Woodbury Corp., Garbett Homes and Cirrus Group. The 142-unit property was developed in 2021 on about 4 acres. It features a mix of one-, two- and three-bedroom floor plans and such amenities as a pool and hot tub, a fitness center, clubhouse, package lockers and a playground. GVP is planning property upgrades during its hold. Brock Zylstra and Daniel …

September 23, 2025

Arizona Colorado Georgia Investment Sales Nevada News North Carolina South Carolina Southeast Western

Sunroad Sells $1.1 Billion Portfolio to Fairfield

by Lynn Peisner September 22, 2025

SAN DIEGO — Sunroad Enterprises has sold a 15-property portfolio to Fairfield for $1.1 billion. Both firms are based in San Diego. The portfolio includes properties in six states: six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia. The deal took six years to put together. JLL, representing Sunroad, arranged the sale as well as a $415 million Freddie Mac loan for 10 of the assets and an additional $250 million in fixed-rate senior debt provided by KKR. …

September 22, 2025

California Finance News Western

Mesa West Capital Provides $43.5 Million ReFi to Alliance Residential-Led Partnership

by Lynn Peisner September 18, 2025

LOS ANGELES — Mesa West Capital has provided a $43.5 million refinancing loan to Alliance Residential and PCCP, joint venture owners of Broadstone Los Feliz in Los Angeles. The five-year, floating rate loan was arranged by the CBRE team of Troy Tegeler, Trevor Breaux, Ryan Greer and CJ Connolly. The property was 95 percent occupied at loan closing. Developed in 1986, Broadstone Los Feliz features a mix of studio, one- and two-bedroom apartments and an amenity package that includes a rooftop lounge and barbecue area with views of the Griffith …

September 18, 2025

Affordable Housing California Investment Sales News Western

Sack Capital Partners, Belveron Partners Acquire Fountain Park in San Jose

by Lynn Peisner September 18, 2025

SAN JOSE, CALIF. — Sack Capital Partners and Belveron Partners have acquired the 164-unit Fountain Park in San Jose for $52 million. The property, developed in 1974, is comprised of studios and one- and two-bedroom units, many of which have been recently renovated. The new owners will convert a portion of the remaining units to affordable housing. Income caps were not disclosed. Amenities at the property include a clubhouse, barbecue area, a resort-style pool with a hot tub, a sauna, covered parking with electric vehicle charging stations and dog park. …

September 18, 2025

Arizona Development News Western

Wood Partners Opens Alta 87 in Metro Phoenix

by Lynn Peisner September 17, 2025

GILBERT, ARIZ. — Wood Partners has opened Alta 87 in Gilbert, a southeastern suburb of Phoenix located about 23 miles from downtown. Alta 87 is a 257-unit development comprised of one-, two- and three-bedroom units. Amenities include two pickleball courts, electric vehicle charging stations, a pool and hot tub and a two-story clubhouse with a fitness center, coworking spaces, a speakeasy and bike storage. The developer broke ground in March 2024. Atlanta-based Wood Partners completed three other Alta-branded communities in Phoenix in 2024: Alta Avondale, Alta Rise and Alta Uptown.

September 17, 2025

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