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10651 Tibbs Cir. in Garden Grove, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges Sale of Eight-Unit Property in Garden Grove, California, for $2.2 Million

by Channing Hamilton

GARDEN GROVE, CALIF. — CBRE has arranged the $2.2 million sale of an eight-unit property located at 10651 Tibbs Cir. in Garden Grove, five miles south of Anaheim, California. Dan Blackwell of CBRE represented the seller, a repeat client headquartered in Los Angeles, in the deal. The buyer was a private investor based in Orange County, California. The building, which was built in 1960, comprises 5,076 square feet across two stories. Units feature individual water heaters. The property also includes parking spaces and an on-site laundry room. The asset was …

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Paragon at Old Town in Monrovia, California
CaliforniaInvestment SalesNewsWestern

Institutional Property Advisors Brokers $87 Million Sale of Paragon at Old Town in Monrovia, California

by Channing Hamilton

MONROVIA, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of Paragon at Old Town, a 163-unit community in Monrovia, 20 miles northeast of Los Angeles. Sequoia Equities sold the asset to SCS Development Co. Inc. for $87.3 million. Joseph Grabiec, Kevin Green and Gregory Harris of IPA represented the seller and procured the buyer. Paragon at Old Town offers amenities such as a resident lounge, fitness center, game room, pool and spa with private cabanas, outdoor lounges and courtyards. Units range from 744 square feet to 1,247 square …

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CaliforniaCompany NewsFinanceNewsWestern

Lument Enters into Partnership with Arcus Harbor Real Estate Capital

by Channing Hamilton

NEWPORT BEACH, CALIF. — Lument, a subsidiary of ORIX Corp. USA, has entered into an exclusive correspondent relationship with Newport Beach-based capital advisory firm Arcus Harbor Real Estate Capital. A correspondent relationship is when a company agrees to use one particular lender to process and close a particular product. Under the terms of the agreement, Arcus Harbor Real Estate Capital will refer all Fannie Mae, Freddie Mac and FHA loans the firm originates to Lument for underwriting, processing and closing. Lument will also have the opportunity to provide balance sheet and other non-agency loans …

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ArizonaDevelopmentLeasing & MarketingNewsWestern

CIM Group Opens 23-Unit Property in Los Angeles

by Channing Hamilton

LOS ANGELES — CIM Group has opened a six-story, 23-unit building located at 2599 Alsace Ave. in the West Adams neighborhood of Los Angeles. The community offers one- and two-bedroom units with wood-style flooring, stone counters, stainless steel appliances and in-unit washers and dryers. Select apartments offer walk-in closets and balconies. Amenities include package lockers, bike racks and storage, controlled access through a video intercom system and a 1,300-square-foot high end lounge on the ground floor.

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Mar at Mesa Apartment Homes in San Diego, California
ColoradoInvestment SalesNewsWestern

Institutional Property Advisors Brokers Sale of 62-Unit Mar at Mesa in San Diego, California

by Channing Hamilton

SAN DIEGO, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Mar at Mesa Apartment Homes in San Diego. Chris Zorbas, Alexander Garcia Jr. and Kyle Pinkalla of IPA represented the undisclosed seller and procured the buyer, an affiliate of F&F Properties, in the transaction. The sales price was not disclosed. Mar at Mesa was built in 1988 and renovated in 2022. The community offers 62 units in one-and two-bedroom layouts. Apartments feature breakfast bars, dishwashers, large closets, patios and balconies. Amenities …

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Jonathan Treble, Founder and CEO of WithMe Inc.
Industry VoicesMidwestNortheastOperationsSoutheastTechnologyTexasWestern

Amenities Anchor Communities, Foster Live-Work-Play Environment

by Channing Hamilton

— By Jonathan Treble, Founder and CEO of WithMe Inc. In today’s multifamily landscape, amenities play a pivotal role that goes beyond attracting and retaining prospective residents. The right amenity package can enhance residents’ daily experience, nurture a thriving sense of community and ultimately increase the asset’s overall value. By thoughtfully outfitting an asset with the right amenities, property owners and operators can cater to today’s renters’ live-work-play and remote-work lifestyles. Modern Renters Desire “Third Spaces” Post-pandemic, the traditional boundaries between home, office and social spaces have blurred. Remote and …

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Amavida Marana in Marana, Arizona
ArizonaInvestment SalesNewsWestern

Ascent Cos., Vanderbuild Open 200-Unit Amavida Marana Near Tucson, Arizona

by Channing Hamilton

MARANA, ARIZ. — Ascent Cos. and Vanderbuild have opened Amavida Marana, a 200-unit community in Marana, 20 miles northwest of Tucson, Arizona. Located at 5555 W. Ina Road, Amavida Marana offers one-, two- and three-bedroom floor plans. Amenities include a four-acre community park, four pickleball courts, a playground, a walking and jogging loop, dog park, EV chargers, an indoor/outdoor fitness center, pool, hot tub, pet washing stations and a clubhouse. Bryten Real Estate Partners is the property manager.

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DevelopmentNewsWashingtonWestern

Vista Residential Partners Breaks Ground on 238-Unit One26 Vista in Vancouver, Washington

by Channing Hamilton

VANCOUVER, WASH. — Vista Residential Partners, along with PCCP and Principal Asset Management, has broken ground on One26 Vista, a 238-unit project in Vancouver. LSW Architects designed the asset. Atlanta-based Krevolin & Horst represented Vista Residential Partners in the closing. Situated on nine acres on NE 72nd Avenue, the garden-style community offers one-, two- and three-bedroom floor plans. The average unit size is 920 square feet. Planned amenities include a clubhouse, fitness center, pool, hot tub, enclosed dog park and package concierge.

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Corona Del Sol in Phoenix
ArizonaInvestment SalesNewsWestern

JLL Arranges $12.6 Million Sale of 64-Unit Corona Del Sol in Phoenix

by Channing Hamilton

PHOENIX — JLL has brokered the sale of Corona Del Sol, a garden-style community located at 27 E. Corona Ave. in Phoenix. Corona Del Sol was built in 1985. The property features 64 apartments with an average size of 880 square feet. The community was 97 percent leased at the time of sale. KDF Communities purchased the asset from a private high-net-worth seller for $12.6 million. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of JLL Capital Markets represented the seller and procured the buyer in the deal.

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Artisan Crossing in Belmont, California
CaliforniaFinanceNewsWestern

Värde Partners Provides $105 Million Refinancing for Artisan Crossing in Belmont, California

by Channing Hamilton

BELMONT, CALIF. — Värde Partners has provided $105 million in construction takeout refinancing for Artisan Crossing, a 250-unit asset in Belmont, 23 miles south of San Francisco. Chris Gandy and Tom Gilliland of JLL arranged the loan, which features a three-year initial term with two one-year extension options. The borrower was Windy Hill Property Ventures. Artisan Crossing was recently completed in 2023, according to Apartments.com. The property offers amenities such as a fitness center, pool, dog spa, clubroom with rooftop deck, conference room, work pods and underground parking.

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