Western

MainStreet Property Group Receives $19 Million in Refinancing for 115-Unit Community in Bothell, Washington

by Channing Hamilton April 25, 2025

BOTHELL, WASH. — MainStreet Property Group has secured a $19 million loan for the refinancing of The 104 in Bothell, roughly 20 miles northeast of Seattle. Seth Heikkila and Bill Maloney of JLL Capital Markets Debt Advisory team secured the five-year, fixed-rate loan through Fannie Mae. JLL Real Estate Capital LLC will service the loan. The 104 features 115 apartments in one- and two-bedroom floor plans, averaging 773 square feet. Units feature stainless steel appliances, walk-in closets and exposed concrete details. Amenities include a lounge with kitchen, a community courtyard, …

April 25, 2025

California Investment Sales News People News Western

IPA Appoints National Director of Multifamily

by Channing Hamilton April 24, 2025

CALABASAS, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has hired Andrew Leahy as senior vice president and national director of IPA’s multifamily division. In this role, Leahy will lead IPA advisory teams across North America. Previously, he led investments for Elme Communities. He has also served with the Rockefeller Group, where he led acquisitions throughout the United States on behalf of domestic and global private equity investors. Leahy began his career as an analyst at The Blackstone Group.

April 24, 2025

California Finance News Western

Affinius Capital Originates $148.5 Million in Refinancing for San Diego Community

by Channing Hamilton April 23, 2025

SAN DIEGO — Affinius Capital has originated a $148.5 million loan for the refinancing of 800 Broadway, a 40-story apartment building in San Diego. James Burrell of Northmarq arranged the financing on behalf of the borrower, Diamond Realty Investments. 800 Broadway features 356 market-rate units and 33 affordable units. The property features studio, one- and two-bedroom apartments, as well as two- and three-bedroom penthouses. 800 Broadway also includes 4,830 square feet of commercial space. Tenants have access to amenities such as a rooftop deck with a pool and hot tub, …

April 23, 2025

California Investment Sales News Western

Partnership Acquires 121-Unit Olume in San Francisco

by Channing Hamilton April 22, 2025

SAN FRANCISCO — A partnership between Presidio Bay Ventures and Artemis Real Estate Partners has acquired Olume, a 121-unit apartment building located at 1401 Mission St. in San Francisco’s SoMa neighborhood, for $39.7 million. Olume offers 121 studio, one- and two-bedroom apartments. Amenities include a rooftop deck with a 360-degree view, lounge, coffee bar, pet park and electric vehicle charging stations. The asset was 95 percent occupied at the time of sale. The Main Post will manage the property. Matt Kroger, Ryan Wagner, Brandon Geraldo and Fatai Alashe of JLL …

April 22, 2025

Arizona Investment Sales News Western

Leon Capital Group Sells Property in Scottsdale, Arizona for $107.5 Million

by Channing Hamilton April 21, 2025

SCOTTSDALE, ARIZ. — Leon Capital Group subsidiary Leon Multifamily has completed the disposition of Soltra Kierland, a 202-unit property in Scottsdale. A private investor purchased the asset for $107.5 million. Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen of CBRE represented the seller in the transaction. Soltra Kierland was built in 2024. Apartments feature wood-style flooring, custom built-ins, washers and dryers, walk-in closets, custom cabinetry, walk-in rain showers, stainless steel appliances, eat-in kitchen islands and quartz countertops. Select units also include quartz waterfall island countertops, black stainless steel appliances, gas …

April 21, 2025

Content Partner Features Furniture, Fixtures & Equipment Industry Content Midwest Northeast Operations Southeast Sustainable/LEED Technology Texas Western

Texas Multifamily HVAC Trends: Why Developers Prefer All-Electric, All-Climate Heat Pumps

by Sarah Daniels April 21, 2025

By Randall Towb of Mitsubishi Electric Trane HVAC US (METUS) Texas multifamily owners and developers are utilizing all-climate variable capacity heat pumps and variable refrigerant flow (VRF) systems for heating and air-conditioning (HVAC) needs in their low-rise, mid-rise and high-rise buildings. These systems deliver on both resident satisfaction and building owners’ return on investment (ROI) thanks to key benefits such as energy performance, zoned comfort, design flexibility, quiet operation, reduced maintenance and advanced controls and monitoring. In addition to resident comfort and ROI, these all-electric systems align with growing concerns …

April 21, 2025

California Development News Western

Partnership Breaks Ground on 200-Unit Community in Torrance, California

by Channing Hamilton April 18, 2025

TORRANCE, CALIF. — A partnership between Legacy Partners and DWS Group has begun the construction of Soto, a 200-unit project in Torrance, roughly 30 miles west of Anaheim, California. The project team includes Westport Construction as the general contractor and Architects Orange as the designer. Located at 3862 Carson St., Soto will offer studio, one- and two-bedroom floor plans. Units will range from 633 square feet to 1,118 square feet. Planned amenities include a rooftop pool and amenity deck with an indoor-outdoor fitness center, resident clubhouse, coworking area and two courtyards …

April 18, 2025

Investment Sales News Washington Western

Institutional Property Advisors Brokers Sale of 18-Story Asset in Seattle

by Channing Hamilton April 17, 2025

SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Skye, a 371-unit apartment building with 13,300 square feet of ground-floor retail space in Seattle’s Denny Triangle neighborhood. The 18-story community was originally built in 1949, and all units were renovated between 2014 and 2016. Tenants have access to a controlled-access parking garage, rooftop terrace, fenced dog park, walking trails and green lawns. Apartments come in studio, one-, and two-bedroom floor plans. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino …

April 17, 2025

California Finance News Western

Stockbridge, Wilson Meany Secure $170 Million Refinancing for Portfolio in San Mateo, California

by Channing Hamilton April 16, 2025

SAN MATEO, CALIF. — Stockbridge and Wilson Meany have received a $170 million first mortgage for Bay Meadows Apartment Collection, a portfolio of four properties totaling 390 units in San Mateo, roughly 20 miles south of San Francisco. The portfolio offers a mix of studios, one-, two- and three-bedroom floor plans. The average unit size is 1,035-square feet. The portfolio also features a total 9,961-square feet of ground floor retail space. The four properties included in the portfolio are: The communities are located within the 83-acre Bay Meadows master-planned community, …

April 16, 2025

Development Finance News Utah Western

Midtown Capital Receives $31.5 Million Bridge Loan for Salt Lake City Development

by Channing Hamilton April 15, 2025

SALT LAKE CITY — Midtown Capital has secured a $31.5 million bridge loan to complete the construction of The Astoria, a 149-unit property situated in the Fairpark District of Salt Lake City. Located at 11 N. 800 West, the seven-story asset will offer 372-square-foot micro units, 545-square-foot studios and one- and two-bedroom floor plans up to 955 square feet each. The development is slated for completion in the third quarter of 2025. Scott Wadler, Patrick Johnson, Mitch Sinberg, Brad Williamson and Matt Robbins of Berkadia arranged the financing. New York-based …

April 15, 2025

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