Western

NRP Group, Haseko Underway on $133 Million Las Vegas Project

by Lynn Peisner September 24, 2025

LAS VEGAS — The NRP Group has partnered with Haseko North America, the U.S. subsidiary of a Japanese condominium builder, and broken ground on a $133 million community in Las Vegas. Located at the northeast corner of West Maule Avenue and Gagnier Boulevard, the site is across from the Durango Casino & Resort and adjacent to The UnCommons, a mixed-use destination featuring apartments, retail, dining and office space. The four-story, single-building development will comprise a mix of 309 studio, one-, two- and three-bedroom units. Amenities include a pool, two landscaped …

September 24, 2025

Investment Sales News Washington Western

IPA Arranges $33 Million Metro Seattle Sale

by Lynn Peisner September 24, 2025

BELLEVUE, WASH. — The Sobrato Organization has acquired Park Metro Apartments in Bellevue, Washington, for $33 million. The seller was an entity doing business as Northpoint Parkmetro LLC that was represented in the deal by IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino. “Completed in 2014, the property is primed for a light-value add program,” said Napoli. Amenities at Park Metro include a resident lounge, a rooftop terrace, a fitness center and electric vehicle charging stations. The community offers 78 units in a mix of studios, …

September 24, 2025

Investment Sales News Utah Western

Gelt Venture Partners Acquires 142-Unit Property in American Fork, Utah

by Lynn Peisner September 23, 2025

AMERICAN FORK, UTAH — Gelt Venture Partners (GVP) has acquired Alvera at the Meadows in American Fork, about midway between Provo and Salt Lake City. The seller was a joint venture between Woodbury Corp., Garbett Homes and Cirrus Group. The 142-unit property was developed in 2021 on about 4 acres. It features a mix of one-, two- and three-bedroom floor plans and such amenities as a pool and hot tub, a fitness center, clubhouse, package lockers and a playground. GVP is planning property upgrades during its hold. Brock Zylstra and Daniel …

September 23, 2025

Arizona Colorado Georgia Investment Sales Nevada News North Carolina South Carolina Southeast Western

Sunroad Sells $1.1 Billion Portfolio to Fairfield

by Lynn Peisner September 22, 2025

SAN DIEGO — Sunroad Enterprises has sold a 15-property portfolio to Fairfield for $1.1 billion. Both firms are based in San Diego. The portfolio includes properties in six states: six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia. The deal took six years to put together. JLL, representing Sunroad, arranged the sale as well as a $415 million Freddie Mac loan for 10 of the assets and an additional $250 million in fixed-rate senior debt provided by KKR. …

September 22, 2025

California Finance News Western

Mesa West Capital Provides $43.5 Million ReFi to Alliance Residential-Led Partnership

by Lynn Peisner September 18, 2025

LOS ANGELES — Mesa West Capital has provided a $43.5 million refinancing loan to Alliance Residential and PCCP, joint venture owners of Broadstone Los Feliz in Los Angeles. The five-year, floating rate loan was arranged by the CBRE team of Troy Tegeler, Trevor Breaux, Ryan Greer and CJ Connolly. The property was 95 percent occupied at loan closing. Developed in 1986, Broadstone Los Feliz features a mix of studio, one- and two-bedroom apartments and an amenity package that includes a rooftop lounge and barbecue area with views of the Griffith …

September 18, 2025

Affordable Housing California Investment Sales News Western

Sack Capital Partners, Belveron Partners Acquire Fountain Park in San Jose

by Lynn Peisner September 18, 2025

SAN JOSE, CALIF. — Sack Capital Partners and Belveron Partners have acquired the 164-unit Fountain Park in San Jose for $52 million. The property, developed in 1974, is comprised of studios and one- and two-bedroom units, many of which have been recently renovated. The new owners will convert a portion of the remaining units to affordable housing. Income caps were not disclosed. Amenities at the property include a clubhouse, barbecue area, a resort-style pool with a hot tub, a sauna, covered parking with electric vehicle charging stations and dog park. …

September 18, 2025

Arizona Development News Western

Wood Partners Opens Alta 87 in Metro Phoenix

by Lynn Peisner September 17, 2025

GILBERT, ARIZ. — Wood Partners has opened Alta 87 in Gilbert, a southeastern suburb of Phoenix located about 23 miles from downtown. Alta 87 is a 257-unit development comprised of one-, two- and three-bedroom units. Amenities include two pickleball courts, electric vehicle charging stations, a pool and hot tub and a two-story clubhouse with a fitness center, coworking spaces, a speakeasy and bike storage. The developer broke ground in March 2024. Atlanta-based Wood Partners completed three other Alta-branded communities in Phoenix in 2024: Alta Avondale, Alta Rise and Alta Uptown.

September 17, 2025

Finance News Utah Western

Northmarq Arranges $38 Million ReFi of SLC Property

by Lynn Peisner September 17, 2025

SALT LAKE CITY — Northmarq has arranged a $38 million refinancing loan provided by New York Life for locally based Dakota Pacific Real Estate, owner of Bowers Residences in Salt Lake City. Built in 2023, the community consists of studios and one-, two- and three-bedroom units. Amenities include a fitness center with a rock-climbing wall and yoga and spin studio, a rooftop lounge, coworking spaces, a rentable clubroom and kitchen and a courtyard with games and grills. Northmarq’s Salt Lake City Debt + Equity team was led by John Bradshaw, …

September 17, 2025

California Finance News Western

Northmarq Arranges $50 Million ReFi for Advanced Real Estate

by Lynn Peisner September 16, 2025

SANTA ANA, CALIF. — Northmarq has arranged a $50.1 million refinancing, provided by Freddie Mac, for Advanced Real Estate, an Irvine, California-based investment, property management and development company. The new mortgage is for Advanced’s asset River House Apartment Homes in Santa Ana. Northmarq’s Newport Beach Debt + Equity team was led by Alex Kane, Joe Giordani, Brendan Golding and Alvin Cao. The loan has a 70 percent loan-to-value ratio, 1.2x debt coverage ratio and a 35-year amortization. The 240-unit River House was developed in 1987 and features one- and two-bedroom …

September 16, 2025

Arizona Investment Sales News Western

JLL Arranges Two Metro Phoenix Trades

by Lynn Peisner September 16, 2025

PHOENIX — JLL Capital Markets has arranged two sales in metro Phoenix totaling approximately $20.7 million. The transactions include the trades of Maryland Greens, a 78-unit community that Maryland Green Multifamily LLC sold to Neighborhood Ventures for $10.7 million, and The Rio, a 44-unit property in Mesa that Capital Allocation Partners sold to White Haven for $10 million. JLL represented both buyers and sellers in the deals. Maryland Greens, located at 749 East Maryland Ave., includes 78 one-bedroom units and was built in 1967. The Rio, located at 830 N. …

September 16, 2025

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