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Castlewood-Buena-Park
CaliforniaInvestment SalesNewsWestern

The Bascom Group Buys Castlewood Park in Buena Park, California, for $53.2M

by Lynn Peisner

BUENA PARK, CALIF. — The Bascom Group has acquired Castlewood Park Apartments in Buena Park for $53.2 million. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA arranged acquisition financing through Brightspire Capital. IPA’s Kevin Green and Joe Grabiec represented the unnamed seller. AMC will provide property management services for the community, while contractor SD-Cap will oversee the planned property renovations. The property was built in 1963. About 60 percent of the units, offered as two-, three- and four-bedrooms, have private yards. Irvine, California-based Bascom plans to renovate …

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The-Jewell-Denver
ColoradoInvestment SalesNewsWestern

Marcus & Millichap Brokers Sale of The Jewell in Denver

by Lynn Peisner

DENVER — Jason Hornik and Greg Parker with Marcus & Millichap’s Denver office have brokered the sale of The Jewell at 4470 E. Jewell Ave. in Denver. A New York-based investor was the seller, and a California-based buyer bought the asset, which was built in 1968. The 93-unit property was 55 percent occupied at the time of the sale. The property was renovated prior to the sale.

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Maren-McCabe-TRC
Affordable HousingCaliforniaIndustry VoicesOperationsSustainable/LEED

Five Benefits Of Energy Upgrades in Affordable Housing

by Lynn Peisner

For people who live in, own or manage affordable housing, energy efficiency can offer significant benefits beyond energy savings. Research from the U.S. Dept. of Energy (DOE) shows that owners of affordable housing properties struggle to sustain truly affordable rental housing for low-income families because they are often faced with high energy bills and maintenance costs. This disparity impacts residents, too. According to the DOE’s Low-Income Energy Affordability Data (LEAD) Tool, the average percentage of income spent on energy costs for low-income households is three times higher than for non-low-income …

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The-Collins-at-Union-Park-Fort-Collins
ColoradoDevelopmentFinanceNewsWestern

Concord Summit Capital Arranges $115.5M Construction Loan for Colorado Development

by Lynn Peisner

FORT COLLINS, COLO. — Concord Summit Capital has arranged a $115.5 million construction loan for Collins at Union Park, a 457-unit community in Fort Collins. The borrower/developer is Livmark Communities, a division of Landmark Homes, which has broken ground on the project. Amenities will include a clubhouse, pool, golf simulator, playground, parks, trails and gathering spaces. Units will be offered as apartments, townhomes and carriage houses. Completion is slated for 2028.

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Alexan-Lower-Greenville-Dallas
ColoradoFinanceNewsTexasVirginiaWestern

CBRE Arranges $380.2M Refinancing Loan for Crow Holdings

by Lynn Peisner

DALLAS — Crow Holdings has obtained a $380.2 million refinancing loan for a five-property portfolio totaling 1,549 units in Texas, Colorado and Virginia. Each was developed by Trammell Crow Residential in partnership with Crow Holdings. CBRE’s Dallas-based Andy Scott, Michael Cosby, Kris Lowe, Tom Burns and Bo Beidleman arranged the financing through AllianceBernstein. The assets include Alexan Lower Greenville in Dallas, Alexan Braker Pointe and Alexan Waterloo in Austin, Texas, Alexan Julian in Denver and Alexan Florence in Alexandria, Virginia. Trammell Crow Co. is owned by CBRE. Crow Holdings is …

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El-Camino-Real-San-Carlos
Affordable HousingCaliforniaDevelopmentNewsWestern

SummerHill, KTGY Break Ground on 11 El Camino Real in San Carlos, California

by Lynn Peisner

SAN CARLOS, CALIF. — SummerHill Apartment Communities, with architect KTGY, has broken ground 11 El Camino Real, situated on 2.2 acres in San Carlos, 23 miles south of San Francisco. The project includes 251 units, in studio through three-bedroom floor plans, and 38 affordable units, reserved for a variety of income levels. Amenities feature a pool, hot tub, landscaped courtyards, clubroom, fitness center, leasing office, resident lounge, bike room and mail room. The community is within about 1 mile of two Caltrain stations with commuter service throughout the Bay Area. …

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CRU-Redmond
Investment SalesNewsWashingtonWestern

Goodman Real Estate Sells Two Metro Seattle Assets for $172M

by Lynn Peisner

SEATTLE — Goodman Real Estate has sold two metro Seattle properties for a combined total of $172 million. CBRE’s Eli Hanacek, Kyle Yamamoto and Natalie Kasper represented the Seattle-based seller in both transactions. Each property was developed in 2024 and sold to undisclosed buyers. CRU at Willows 124 in Redmond traded for $94 million. The 195-unit, six-story building sits on 1.6 acres within a master-planned community adjacent to Willows Run Golf Club. It includes 22,998 square feet of fully leased commercial space across three suites. The property features a mix …

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The-Q-Seattle
Investment SalesNewsWashingtonWestern

Kite Partners Buys The Q in Seattle for $24.1M

by Lynn Peisner

SEATTLE — CBRE has arranged the sale of The Q, an 87-unit community at 1321 Queen Anne Ave. N. in Seattle’s Queen Anne neighborhood. Kite Partners bought the asset from Acme Realty for $24.1 million. CBRE’s Mark Zoffel, Peter Wright, Reed Hunter and Spencer Clark represented Acme in the transaction. James Bach and Nick DaValle of CBRE’s debt and structured finance team arranged the loan assumption. The Q features studio, one and two-bedroom units and includes a rooftop deck, a fitness center and pet amenities. The building is about 1 …

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333-Flower-Los-Angeles
Affordable HousingCaliforniaDevelopmentNewsWestern

Kennedy Wilson, Jamison Team Up to Develop 4,000 Units of Affordable Housing in Los Angeles

by Lynn Peisner

LOS ANGELES — Kennedy Wilson and Jamison have partnered to develop 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction. Specifically, the partnership is comprised of Jamison’s affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development group, Vintage Housing. According to Bloomberg, the development cost is approximately $1.7 billion. The Los Angeles Times reports the partners will deliver the units via 15 separate projects. The team will begin with the conversion of the former L.A. World Trade Center, a 10-story office complex developed in …

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Cartwright-Family-Apartments-Irvine
Affordable HousingCaliforniaDevelopmentNewsWestern

C&C Opens Affordable Housing Development in Irvine, California

by Lynn Peisner

IRVINE, CALIF. — C&C Development, a Tustin, California-based affordable housing developer, has completed and opened Cartwright Family Apartments in the Irvine Business Complex. The 4 percent LIHTC project, which is fully occupied, includes 60 units reserved for households earning between 30 and 80 percent of area median income, with some units set aside for veterans. KTGY was the architect. Cartwright Family Apartments is a a single four-story residential building with a mix of 15 one-bedrooms, 17 two-bedrooms and 28 three-bedroom units. Amenities include a courtyard with a pool, barbecue pavilion, …

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