Distressed Chandler BTR Asset Trades for $23.5M
NextWave Investors paid $23.5 million for a 71-unit build-to-rent community in Glendale, Arizona. Kinella Capital acquired the stalled and foreclosed development from Trez Capital in January of 2024. Kinella Capital completed the development and the property was nearing stabilization at the time of the transaction. Cushman & Wakefield’s David Fogler and Steven Nicoluzakis represented the seller in the sale.
Ascension at Manistee Ranch features townhomes that average 1,396 square feet and a mix of two—and three-bedroom floor plans, including two-car garages. Amenities include a large swimming pool with cabanas and a dog park, and they offer convenient access to some of the West Valley’s most popular dining and entertainment destinations.
Next Wave Investors is a Southern California-based private equity investment firm that specializes in value-add multifamily investments throughout the Western United States.
Other News
Lennar Breaks Ground at 1,226-Acre Fort Monmouth Redevelopment
Lennar has broken ground on The Premiere at Monmouth, a new community of single-family homes and townhomes within the 1,226-acre Fort Monmouth redevelopment in Eatontown, NJ. Rising on a site that sat vacant for more than two decades, The Premiere at Monmouth will feature 32 single-family homes and 188 townhomes. Sales are anticipated to begin...
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Alta Housing Breaks Ground on Fourth Mountain View Affordable
Alta Housing recently broke ground for La Bella, a new 108‑unit affordable housing community in MountainView’s Terra Bella neighborhood. Located at 1020 Terra Bella Ave., the 1.04-acre site sits in a former industrial area that is transitioning to high‑density residential housing. La Bella will be Alta Housing’s fourth affordable housing community in Mountain View. The...
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Shrinking Construction Pipelines Could Extend CRE Rent-Growth Runway
When determining commercial real estate strategies, many investors focus on demand. However, Marcus & Millichap’s October 2026 Construction Outlook research brief said that demand tells only half the story. Long-term supply trends also affect vacancy and rent growth, so supply outlooks should play a prominent role in CRE planning. Construction tends to lag market conditions,...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout