News
Sentral Adds Properties in SF, LA and Denver to Management Portfolio
Sentral, a Class-A multifamily property management company headquartered in San Francisco and Denver, has added three communities to its portfolio: Quincy in San Francisco, Reveal Playa Vista in Los Angeles and 24Fifty at University Park in Denver. Quincy expands Sentral’s Bay Area presence to seven communities; Reveal Playa Vista is the 10th community in the Los Angeles area and 24Fifty is Sentral’s second community in Denver. Quincy, located at 555 Bryant S. in San Francisco, is...
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Dwight Mortgage Trust Provides $49M for Minneapolis Apartments
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, closed a $49.15 million bridge loan to refinance Moment Apartments, a newly constructed 222-unit luxury apartment community in Minneapolis, Minnesota. The property consists of a 10-story apartment building with 14,713 square feet of ground-floor retail space, leased to Starbucks and New Horizon Academy. The residential units...
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Equity Residential Sells Apartments, MXU Property in Seattle for $121M
Equity Residential has sold a 289-unit apartment and mixed-use property in Seattle’s Ballard neighborhood for $121 million. San Francisco-based Carmel Partners was the buyer of Urbana Apartments, an eight-story landmark property at 15th Avenue Northwest and Northwest Market Street, reported the Puget Sound Business Journal. Carmel Partners secured an $80.3 million loan through Fannie Mae...
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Multifamily Construction Gains in April While Single-Family Declines
Overall housing starts increased 1.6% in April to a seasonally adjusted annual rate of 1.36 million units, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported. Starts for single-family homes declined 2.1% month-over-month to a seasonally adjusted annual rate of 927,000 while multifamily starts increased 10.7% to an annualized 434,000...
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$1B Mixed-Use Project to Launch in Magnolia
Tannos Development Group and Maritia are developing Magnolia Town Center, which is 200 acres between FM 1774 and FM 1488. The Houston Business Journal reports that the joint venture estimates the overall investment in the development to be more than $1 billion. Preliminary plans include a nationally branded luxury hotel with a full-service restaurant, bar...
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Ares Pays $137.5M for Chandler Apartments
PB Bell and PCCP have sold Zaterra, a 392-unit multifamily property in Chandler. The asset traded for $137.5 million, or $350,765 per unit. IPA’s Steve Gebing and Cliff David represented the sellers and procured the buyer, Ares Management. Completed in 2023 on 22 acres, Zaterra is a two—and three-story, garden-style property with a low-density site...
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Gateway Jax Moving Ahead on Next Project
Gateway Jax will break ground on 425 Beaver Street, its second project in Pearl Square. The mixed-use building, previously known as Block N4, will feature 286 multifamily units, on-site parking, and nearly 20,000 square feet of retail space. It is anticipated to be delivered in 2027. Gateway Jax was created by partners JWB Real Estate Capital...
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PearlX, Cal Solar Partner on Installation at Murrieta Complex
PearlX, an energy infrastructure and capital partner to multifamily owners and developers, and Cal Solar Inc., California’s largest multifamily new construction solar financier, developer and design/builder, have partnered on a $4.5-million solar power and battery system for the first phase of a new 451-unit multifamily project under construction in Murrieta. In conjunction with Cal Solar,...
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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