SCOTTSDALE, ARIZ. — Mark-Taylor Cos., a developer, owner and investment manager based in Scottsdale, Arizona, has established a new executive leadership team. The company was founded in 1985. The members of the new leadership team include:
GOLDEN, COLO. — Confluence Cos. has purchased West 8th, a 99-unit community located at 1410 8th St. in Golden, roughly 15 miles west of Denver. MIG Real Estate sold the property for $47.5 million. David Potarf, Dan Woodward, Matt Barnett and Jake Young of Walker & Dunlop Denver Investment Sales handled the transaction for the seller and buyer.
PHOENIX — Neighborhood Ventures (NV), a real estate crowdfunding company based in Phoenix, has purchased Venture on Colter, a 123-unit property in Phoenix. NV purchased the asset directly from an undisclosed lender for $13 million, a 20 percent discount from the community’s value in 2022. The company has raised $4.5 million from 95 investors for the property. NV estimates that, after implementing new property management and leasing strategies, Venture on Colter will be fully occupied within the next six months.
HUNTINGTON BEACH, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $60.9 million in financing for a 28.9-acre redevelopment project in Huntington Beach. Gary Mozer of IPA secured the 18-month, nonrecourse loan on behalf of an undisclosed California-based investment and development firm. The borrower plans to develop a residential and hospitality property, which was approved by the Huntington Beach City Council, on the site. The property will feature a 50-unit affordable housing community, with 25 units to be rented to hotel workers employed onsite and nearby. The …
SAN TAN VALLEY, ARIZ. — Thompson Thrift has opened Stella, a 308-unit community located roughly 48 miles southeast of downtown Phoenix in San Tan Valley. The property will consist of 12 two- and three-story buildings on a 20-acre site. Units will come in one-, two- and three-bedroom floor plans. Amenities include a pool, outdoor pavilion, pickleball courts, two dog parks, gardens and Wi-Fi connectivity. The first move-ins began in winter 2024. The project is slated for full completion by the end of this summer.
LOS ANGELES — SoLa has received a $34.8 million construction loan for 4301 Vermont, an affordable housing development in Los Angeles. Located at 4301 Vermont Ave., the five-story property will offer 188 units. Approximately 80 percent of the units will be designated for low-income residents, while 20 percent will be reserved for moderate-income residents. The project will feature prefabricated modular units supplied by Model Z, a subsidiary of SoLa Impact. Chris Montes of Walker & Dunlop secured the loan on behalf of the client. The lender was ACORE Capital.
EVERETT, WASH. — Weidner Apartment Homes has sold Sunrise Lane, a 131-unit property in Everett, roughly 29 miles north of Seattle, for $35 million. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the undisclosed buyer. Built in 2000 on six acres, Sunrise Lane is a gated community that offers a mix of one-, two- and three-bedroom apartments. The average unit size is 1,020 square feet. Shared amenities include a clubhouse, pool, spa and …
RANCHO PALOS VERDES, CALIF. — The Bascom Group has acquired Highridge Apartments in Ranchos Palos Verdes, 30 miles south of Los Angeles, for $127 million. Built in 1972, the property features 257 apartments, as well as 28 loft-style units. The average unit size is 1,157 square feet. Tenants have access to amenities such as on-site parking, two pools and spas, two fitness centers, a tennis court and a clubhouse. The complex has undergone significant upgrades and renovations over the years, including the addition of in-unit washers and dryers and enhanced …
Late last summer, optimism ran steady across the multifamily investment sales market. Prior to the Federal Reserve’s initial rate cut in September 2024, interest rates had remained stable throughout the year. The outlook was positive. But that more ebullient market proved temporary. The Fed’s interest rate cut had a positive effect on the secured overnight financing rate (SOFR), which fell from 5.3 percent on Sept. 18, 2024, to 4.3 percent in early February 2025. The U.S. 10-year Treasury yield rose during the same period. On Sept. 18, 2024, the 10-year …
SAN RAFAEL, CALIF. — CBRE has negotiated the $5.6 million sale of Pacifica Apartments, a 20-unit asset in San Rafael, about 18 miles north of San Francisco. Ben Mollahan and Adam Foley of CBRE represented the buyer, an entity doing business as 55 Canal Street LLC, in the deal. The seller was not disclosed. Located at 55 Canal Street, Pacifica Apartments consists of entirely two-bedroom units. Amenities include a courtyard with a children’s play area and garden, community laundry facility, covered parking and storage for each tenant.