Monday, April 21, 2025
Read the Digital Magazines Subscribe to the Newsletter

Western

A 323-unit community within Sand Canyon Plaza in Santa Clarita, California
CaliforniaDevelopmentFinanceNewsWestern

Kennedy Wilson Provides $95 Million Construction Loan for 259-Unit Development in Santa Clarita, California

by Channing Hamilton

SANTA CLARITA, CALIF. — Kennedy Wilson’s debt platform has provided a $95 million senior construction loan for the development of an apartment and build-to-rent project in Santa Clarita, approximately 33 miles northwest of Los Angeles. The borrower was a joint venture between Greystar Real Estate Partners and The Resmark Cos. Situated within the Sand Canyon Plaza master planned community, the project will comprise 259 apartments and 64 build-to-rent townhomes. Planned amenities include a clubroom, fitness center, courtyard, game lounge, co-working space, sky deck, pool and spa. The build-to-rent units will offer …

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaInvestment SalesNewsWestern

Cushman & Wakefield | PICOR Negotiates $2 Million Sale of Alamo Apartments in Tucson, Arizona

by Channing Hamilton

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has brokered the sale of Alamo Apartments, a 20-unit building in Tucson. Alamo Apartments is located at 824 E. 10th Street and comprises 11,189 square feet. The Twenty Lofts on Tenth LLC acquired the asset from Euclid 35 LLC for $2 million. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both the seller and buyer in the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
Alexan West End in Long Beach, California
CaliforniaDevelopmentFinanceNewsWestern

CBRE Secures $200 Million in Construction Financing for Alexan West End in Long Beach, California

by Channing Hamilton

LONG BEACH, CALIF. — CBRE has arranged $200 million in financing for the construction of Alexan West End, a 600-unit community in downtown Long Beach. CBRE worked on behalf of the borrowers, R&V Management and Trammell Crow Residential, to secure the five-year financing, which consists of a $166 million construction loan from Kennedy Wilson and a $34 million mezzanine loan from a national life insurance company. Alexan West End will include four buildings, which will house a mix of studio, one-, two-, and three-bedroom units. Units average 767 square feet …

Continue Reading
0 FacebookTwitterLinkedinEmail
Courtney Wilson Multifamily NOI TheGuarantors quote
Affordable HousingContent PartnerFeaturesIndustry ContentLeasing & MarketingMidwestNortheastOperationsSoutheastTechnologyWestern

Multifamily Market Challenges: Strategies for Operators to Preserve NOI Amidst Rising Costs, Supply Pressures

by Sarah Daniels

Multifamily operators face a number of challenging factors in today’s market. The spike in the cost of debt along with higher expenses across the board — from property insurance and taxes to construction and labor — as well as adverse effects left over from eviction moratoriums are eating away at net operating income (NOI) across the country. During the third quarter of 2023, multifamily expenses grew 7.2 percent, more than double the rate of inflation, according to Freddie Mac’s 2024 multifamily forecast. Additionally, rent control efforts in some jurisdictions are …

Continue Reading
0 FacebookTwitterLinkedinEmail
Prado in Santa Clara, California
CaliforniaFinanceInvestment SalesNewsWestern

Institutional Property Advisors Brokers $125 Million Sale of Prado in Santa Clara, California

by Channing Hamilton

SANTA CLARA, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of Prado, a 251-unit asset in Santa Clara. Alliance Residential acquired the property from Summerhill Apartment Communities for $125 million. Prado was built in 2021. The community offers one- and two-bedroom units with an average size of 843 square feet. Amenities include a pool and spa, fitness center, indoor and outdoor resident lounges, a business center, game room and barbeque area. Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni and Alex Tartaglia of IPA represented the seller and procured the buyer. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Allure Apartments in Denver
ColoradoFinanceInvestment SalesNewsWestern

JLL Capital Markets Arranges $68.3 Million Sale of Allure Apartments in Denver

by Channing Hamilton

DENVER — JLL Capital Markets has arranged the $68.3 million sale of Allure Apartments, 252-unit garden-style property located in the Cherry Creek South neighborhood of Denver. Allure Apartments was built in 2002. The community offers one- and two-bedroom units that average 1,010 square feet in size. Amenities include a fitness center, detached garages, a business center, a coffee bar and a resident clubhouse. JLL represented the undisclosed seller and procured the buyer, Gelt Inc. JLL also worked on behalf of Gelt to secure $43.2 million in acquisition financing through Freddie Mac. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Creekview Crossing in Sherwood, Oregon
Investment SalesNewsOregonWestern

JLL Capital Markets Brokers Sale of 183-Unit Creekview Crossing in Portland Suburb

by Channing Hamilton

SHERWOOD, ORE. — JLL Capital Markets has negotiated the sale of Creekview Crossing, a 183-unit in the Portland suburb of Sherwood. Creekview Crossing was built in 2009. The community offers one-, two- and three-bedroom floor plans. Units feature attached garages, nine-foot ceilings, granite countertops and central HVAC. Amenities include a fitness center, playground, pool and picnic area. JLL worked on behalf of the undisclosed seller and procured the buyer. The buyer was a fund managed by LaSalle Investment Management. As part of the transaction, the buyer assumed the below-market financing. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Alta Chandler at The Park in Chandler, Arizona
ArizonaInvestment SalesNewsWestern

Institutional Property Advisors Arranges $94.5 Million Sale of Alta Chandler at The Park in Phoenix Suburb

by Channing Hamilton

CHANDLER, ARIZ. — Institutional Property Advisors (IPA) has negotiated the sale of Alta Chandler at The Park, a 291-unit complex in the Phoenix suburb of Chandler. Wood Partners sold the asset to Olympus Property for $94.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the acquisition. IPA Capital Markets arranged $52 million in acquisition financing on behalf of the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk of IPA Capital Markets arranged the loan, which features eight years of interest-only …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaInvestment SalesNewsPeople NewsWestern

JLL Capital Markets Hires Kevin Sheehan as Managing Director in Los Angeles Office

by Channing Hamilton

LOS ANGELES — Kevin Sheehan has rejoined JLL Capital Markets as Managing Director in the firm’s Los Angeles office. In this new role, Sheehan will be responsible for institutional multifamily investment sale advisory and equity placement within the metro-Los Angeles area. Prior to rejoining JLL, Sheehan was responsible for multifamily investments in Southern California and nationally for an undisclosed developer.

Continue Reading
0 FacebookTwitterLinkedinEmail
The Peak at Oro Valley in Tucson, Arizona
ArizonaInvestment SalesNewsWestern

Institutional Property Advisors Brokers Sale of The Peak at Oro Valley in Tucson, Arizona

by Channing Hamilton

TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Peak at Oro Valley, a 330-unit property in Tucson. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller and procured the buyer. The identities of both parties were not disclosed.  The Peak at Oro Valley was built in two phases 1984 and 1994 on a 15-acre site. The property offers a mix of one-, two- and three-bedroom apartments that average 848 square feet in size. Amenities include three pools, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.