BELLFLOWER, CALIF. — The Colliers Structured Finance Group (SFG) has negotiated a $27.8 million Fannie Mae loan for the refinancing of Edgeway, a 91-unit complex in the Los Angeles suburb of Bellflower. Jonathan Lee, Bill Hyatt and Shahin Yazdi of Colliers SFG arranged the loan, which is priced at 5.5 percent for five years. The borrower was Serrano Development Group. Built in 2023, Edgeway offers one-, two- and three-bedroom apartments with quartz countertops, in-unit washers and dryers, stainless steel appliances and private balconies. Community amenities include a pool, spa and …
BELLEVUE, WASH. — A buyer operating under the name 1830 108th VISEA LLC has purchased Bellefield Major, a 44-unit property located in Bellevue, for $16.1 million. Bellefield Manor is located at 1830 108th Ave. SE in the city’s downtown area. The community is situated within a half mile of the Sound Transit South Bellevue light rail station, which is slated to open in the spring of 2025. The buyer plans to make cosmetic upgrades to the value-add asset, which has already undergone interior and exterior renovations over the past decade. …
SEATTLE — JLL Capital Markets has brokered $11.9 million to refinance J.G. Whittier, a 54-unit community in Seattle’s Ballard neighborhood. JLL worked on behalf of the borrower, FFV Crown Hill LLC, to secure the five-year, fixed-rate loan through National Life Group. Seth Heikkila and Steve Petrie led the JLL Capital Markets Debt Advisory team. Recently built in 2023, J.G. Whittier offers studio, one- and two-bedroom units. Amenities include a rooftop pet play area, rooftop deck with green space, fireplace lobby and lounge, media room, EV charging stations and business center. The …
LAYTON, UTAH — PGIM Real Estate has provided an $18.5 million mezzanine loan to Rockworth Cos. for a 6.3-acre site in Layton, approximately 25 miles north of Salt Lake City. Daniel Kattan of PGIM secured the financing on behalf of the borrower. The site includes a newly constructed apartment community totaling 252 units, as well as two commercial buildings with 15,000 square feet of second-story office space and 15,130 square feet of ground-floor retail space.
SAN DIEGO — Liberty National Corp. has purchased a 22,484-square-foot property in San Diego’s downtown area for an undisclosed price. The developer plans to construct a high-rise community on the site, including a selection of affordable housing units. The site is located at 1520 and 1532 3rd Avenue in San Diego’s Cortez Hill neighborhood, directly across the street from the historic St. Joseph Cathedral. Liberty National Corp. states that the company acquired the site due to its location, which is in proximity to attractions such as Balboa Park, Little Italy and …
BOISE, IDAHO — San Francisco-based investment firm Hamilton Zanze has sold Arbor Crossing, a 229-unit community in Boise. The sales price and buyer were not disclosed. Arbor Crossing was built in 1992 at 5122 W Stoker Lane. The property offers one-, two- and three-bedroom units with an average size of 930 square feet. Community amenities include a fitness center, business center, pool, daycare, playground, coffee and tea bar, detached garages, a sports court and a gazebo with a grilling area.
COSTA MESA, CALIF. — CBRE has arranged the sale of Crestview Apartments, a 19-unit property in Costa Mesa. Crestview Apartments was built in 1957 on 0.5 acres. Dan Blackwell and Mike O’Neill represented the seller in the deal. Blackwell and O’Neill, along with Jack O’Connor, also represented the buyer. Both parties were Orange County-based private investors. Crestview Apartments rises two stories and comprises one 8,931-square-foot building. The value-add property includes in-place RUBS (Ratio Utility Billing System), where tenants pay for water and trash, in addition to being individually metered for …
MODESTO, CALIF. — The Mogharebi Group has negotiated the sale of The Edge at Lakewood Apartments, a 196-unit community in Modesto, 68 miles south of Sacramento. Osso Capital and Graceada Partners purchased the asset for $42.7 million. The Edge at Lakewood Apartments was built in 1985 on 7.6 acres. The property offers one- and two-bedroom units ranging from 598 to 880 square feet in size. Amenites include a fitness center, clubhouse, pool, and covered parking.
GILBERT, ARIZ. — Wood Partners has sold Alta Cooley Station, a 248-unit complex in the Phoenix suburb of Gilbert, to a private individual based in California for $80 million. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Alta Cooley Station offers amenities such as a pool, spa, outdoor entertainment space, open-concept leasing office and clubhouse, micro-offices, a private conference room and workspaces. Units feature nine- and 10-foot ceilings, extra-wide entryways, laundry closets with …
SOUTH CHANDLER, ARIZ. — TruVista Development has begun leasing Village of Chandler, a 109-unit build-to-rent community in the Phoenix suburb of Chandler. Located at 6075 S. Gilbert Road, Village of Chandler features one-, two- and three-bedroom units. Amenities include a pool, dog park, outdoor workout stations, barbeque grills, walking trails, detached garages and private backyards with pet-friendly doors. The community is currently 33 percent leased and is managed by MEB Management Services.