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Azola Desert Ridge
ArizonaDevelopmentFinanceNewsWestern

ZOM Living Secures $88 Million in Financing for Project in Phoenix

by Channing Hamilton

PHOENIX — ZOM Living has secured financing for the development of Azola Desert Ridge, a 416-unit community in Phoenix. The funding includes $88 million in construction financing, as well as a joint venture equity investment from Origin Investments. Azola Desert Ridge will offer 416 units across multiple four-story buildings. The garden-style community will feature one-, two- and three-bedroom apartments ranging from 730 to 1,533 square feet. Amenities include a pool and deck, fitness center, dog park, pet grooming salon, glam room, podcast room, individual offices for residents and a self-service market …

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Eric Thorsen
ColoradoNewsPeople NewsWestern

Atlas Real Estate Appoints Eric Thorsen as Chief Investment Officer

by Channing Hamilton

DENVER — Atlas Real Estate, a Denver-based owner and operator of single-family rental (SFR) and build-to-rent assets, has promoted Eric Thorsen to the position of chief investment officer. In his new role, Thorsen will oversee the firm’s investment strategy, including joint ventures, acquisitions, dispositions, asset management and data strategy. He joined Atlas Real Estate as an analyst and has since helped execute about $2 billion in SFR transactions.

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Pullman Modern Urban Apartments
CaliforniaFinanceNewsWestern

Phoenix Development Co. Receives $27.8 Million in Refinancing for Property in Santa Rosa, California

by Channing Hamilton

SANTA ROSA, CALIF. — Phoenix Development Co. has received $27.8 million in refinancing for Pullman Modern Urban Apartments in Santa Rosa, about 55 miles north of San Francisco. The community consists of 114 apartments across three residential buildings located at 725 Wilson St., 755 Wilson St. and 85 8th St. The project is currently in lease-up with stabilization estimated toward the end of 2025. Gary Mozer of IPA Capital Markets, a division of Marcus & Millichap, arranged the 36-month, floating-rate nonrecourse loan, which features interest-only payments for the full term, on …

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Phase II of Midway Village
CaliforniaFinanceNewsWestern

Wells Fargo Provides $162.9 Million in Financing for Affordable Housing Project in Daly City, California

by Channing Hamilton

DALY CITY, CALIF. — Wells Fargo has provided a total of $162.9 million in financing for Phase II of Midway Village, an affordable housing project in Daly City, roughly 8 miles south of San Francisco. MidPen Housing Corp. is the borrower and developer. Phase II of Midway Village will consist of 113 units of affordable housing within one mid-rise building. Wells Fargo also provided financing for the first phase of the project, which features 147 units. Phase I of the community opened in fall 2023. The community will be rent …

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Kasey Archey
CaliforniaNewsOperationsPeople NewsWestern

EAH Housing Appoints Kasey Archey as Senior Vice President

by Channing Hamilton

SAN RAFAEL, CALIF. — EAH Housing has appointed Kasey Archey to the role of senior vice president of real estate management. In this position, Archey will oversee EAH Housing’s property management department and ensure the viability of the organization’s affordable housing assets in California and Hawaii. Before joining EAH Housing, Archey served as senior vice president of property management for MidPen Housing. Additionally, she served as vice president of property operations at Eden Housing Management. Across her previous roles, she was responsible financial reporting, government and community engagement, capital improvement …

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Parkview
Investment SalesNewsWashingtonWestern

Nearon Enterprises Buys Parkview in Olympia, Washington

by Channing Hamilton

OLYMPIA, WASH. — Nearon Enterprises has acquired Parkview, a 72-unit property located within the 137-acre Briggs Village master-planned community in Olympia, approximately 60 miles south of Seattle. The Walnut Creek, California-based investment company acquired the asset from its original developer, Amoroso Cos. Completed in 2012, Parkview offers a mix of one-, two- and three-bedroom apartments. The average unit size is 1,036 square feet. Residents have access to shared amenities including bike storage, a fenced dog run, and package lockers. Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino of Institutional …

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Chaparral Apartments
CaliforniaInvestment SalesNewsWestern

Northmarq Brokers $71 Million Sale of 296-Unit Property in Palmdale, California

by Channing Hamilton

PALMDALE, CALIF. — Northmarq has arranged the sale of Chaparral Apartments, a 296-unit property in Palmdale, 60 miles north of Los Angeles. A Florida-based real estate investment firm sold the asset to a Los Angeles-based real estate investment firm for $71 million. Chaparral Apartments includes 16 two-story garden-style buildings, totaling 213,664 square feet, on an 18.2-acre site. The unit mix includes 72 studios, 164 one-bedroom units and 60 two-bedroom units. Apartments feature fireplaces, balconies or patios, walk-in closets and energy-efficient appliances. Residents have access to amenities such as two pools, three …

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DevelopmentNewsUtahWestern

Wood Partners Breaks Ground on Development in Salt Lake City Suburb

by Channing Hamilton

LEHI, UTAH — Wood Partners has begun construction on Alta Vista, a 304-unit development in Lehi, about 30 miles south of downtown Salt Lake City. The property will offer a mix of one-, two- and three-bedroom apartments. Alta Vista will also feature roughly 8,000 square feet of amenity space, including a clubhouse, entertainment kitchen, coworking space, fitness center, speakeasy and an outdoor pool, spa and kitchen. The development will also add a trail system through the adjacent park, which will feature a playground, pickleball courts and a basketball court. The …

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Solana at Duarte Station
CaliforniaDevelopmentLeasing & MarketingNewsWestern

MBK Rental Living Opens 292-Unit Community in Duarte, California

by Channing Hamilton

DUARTE, CALIF. — MBK Rental Living has opened Solana at Duarte Station, a five-story asset located at 1740 Fasana Road in Duarte, 20 miles northeast of Los Angeles. The community offers 292 units in studio, one-, two-, three- and four-bedroom floor plans. Apartments range from 534 square feet to 2,802 square feet. Select units feature private patios or balconies and walk-in closets. Tenants have access to shared amenities such as a clubhouse, fitness center and yoga studio, coworking spaces, a pool, game lounge, cabana club and dog lounge, spa and park. …

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CaliforniaLeasing & MarketingNewsOperationsWestern

29th Street Living Appointed Property Manager of 188-Unit Community in Las Vegas

by Channing Hamilton

LAS VEGAS — 29th Street Living, the property management division of Chicago-based 29th Street Capital, has taken over management services for The Willows at Town Center, a 188-unit community in Las Vegas. Located at 9145 Echelon Point Drive, the property offers one-, two- and three-bedroom apartments. According to Apartments.com, monthly rates start at $1,479 for a one-bedroom unit. Community amenities include a pool, business center, dog park, fitness center with yoga studio, package lockers and controlled access.

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