Shopoff Realty Investments has acquired the 57.5-acre remainder of the Westminster Mall, ahead of its planned mixed-use redevelopment, Bolsa Pacific at Westminster. Washington Pacific Group was the seller. Lee Aarons of Land Advisors represented the buyer. Shopoff previously purchased the mall’s 14.1-acre former Sears parcel in July 2022 and its 11.7-acre Macy’s parcel in August 2022.
The 83.3-acre project site currently houses the Westminster Mall and surrounding retail. The planned Bolsa Pacific at Westminster development will deliver approximately 2,250 housing units, including a mix of for-sale housing and market-rate and affordable rental housing. The project will also include more than 120 hotel rooms along with more than 220,000 square feet of retail. AO is designer on the retail and multifamily components.
Current entitlement plans have been submitted to the City of Westminster for review, with approval anticipated later this year. Demolition of the existing mall is planned for first-quarter 2026; Target will continue to operate during this time. Once demolition and entitlements are completed, construction is scheduled to begin in Q4 2026.
HSL Properties paid $31.85 million for the Luma Apartments, a 180-unit project at 2600 W. Ina in Tucson, according to Real Estate Daily News. The sale comes out to just over $175,000 per unit. The seller was Village at The Foothills Owner LLC, of Beverly Hills, California, which can be traced to MC Residential in...
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ARCTRUST Private Capital and Edison Equity Residential broke ground on Serenova at Dripping Springs, a 175-residence, 55+ age-restricted community in Dripping Springs, Texas. The groundbreaking follows the August closing of the project’s construction loan, provided by North River Partners. This project follows the duo’s effort on Serenova at Woodforest, which broke ground in October 2025. Located adjacent to...
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An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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