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TruAmerica Multifamily has broken ground on River Walk Townhomes, a 154-unit residential development in Santa Clarita, in what will be the firm’s first-ever ground-up development.
The development at 18300 Soledad Canyon Road will feature 144 two-story, three-bedroom townhomes, 10 affordable apartments and approximately 8,500 SF of retail space in the fastest-growing city in Los Angeles County over the past two decades, according to a Los Angeles Times analysis of census data. TruAmerica expects the first units to open in the spring of 2028, with full completion by the following fall.
PEOPLE
Colliers in San Diego has recruited Greg Lewis, Andy Irwin and Ryan Spradling, formerly from JLL. The team has experience advising industrial occupiers, owners, developers and investors on leasing and capital markets strategies throughout the region. The addition strengthens the firm's local industrial leasing and capital markets capabilities while expanding its West region industrial capital markets platform.
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FBT Gibbons has added Bryce Robinson as a partner in its Newport Beach office to expand its corporate law practice. Robinson, a former public company chief legal officer with more than a decade of general counsel experience, will focus on outside general counsel services and middle-market M&A and corporate finance transactions.
SALES
JLL Capital Markets arranged the sale and financing of Atria Newport Beach, a 168-unit, trophy-level senior housing community in Newport Beach.
JLL’s senior housing capital markets team, led by Aaron Rosenzweig and Dan Baker, represented the seller in the transaction and assisted the buyer in securing acquisition financing through a life insurance company. JLL did not name the seller, the buyer or a sale price, but Commercial Observer reported that Ventas sold the property to Artemis Real Estate for $89M.
Atria will continue to operate the community under its Atria Signature Collection brand.
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CBRE arranged the $26.5M sale of a 72K SF industrial property at 5965 and 5975 Santa Fe St. in San Diego’s Rose Canyon submarket. San Diego-based Parallel Capital Partners and Boston-based Long Wharf Capital sold the property to Sukut Real Properties.
The property was acquired completely vacant in 2025 and fully renovated with new roofs, skylights, LED lighting, HVAC, electrical and plumbing upgrades. Following renovation completion, it was fully leased to marine robotics company Seasats and software development company Applied Intuition within three months.
CBRE’s Hunter Rowe, Matt Carlson, Mike Longo and Matt Pourcho represented the seller in the transaction.
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Marcus & Millichap announced the sale of a 37K SF net-leased property occupied by Montbleau & Associates at 555 Raven St. in San Diego. The property sold for $10.2M at a 7% cap rate.
Robert Narchi, Jason Fefer and Tyler Bindi in Marcus & Millichap’s Los Angeles office represented the buyer, an undisclosed private investor completing a 1031 exchange. The seller was a Chicago-based institutional net-leased fund.
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Marcus & Millichap announced the sale and financing of 884 and 939 Palm Ave., two multifamily properties totaling 72 units in West Hollywood. The assets traded for $29.9M, or $414K per unit. Marcus & Millichap’s Tony Azzi and Rabbie Banafsheha exclusively represented the seller, an unnamed private family investor. Azzi, Banafsheha, Arteen Zahiri and Ian Habbestad procured the buyer, Benedict Canyon Equities. IPA Capital Markets’ Jake Vitta, Brian Eisendrath and Cameron Chalfant arranged acquisition financing on behalf of the buyer.
LEASES
Life sciences firm Alloy Properties announced that Biora Therapeutics has signed a nearly 20K SF lease at Elements, a 290K SF life sciences campus at 10201 to 10241 Wateridge Circle in San Diego’s Sorrento Mesa submarket. The transaction is the third lease completed at Elements in the past six months, totaling just over 53K SF leased.
THIS AND THAT
Harrison Street Asset Management and Harbert Management Corp.’s South Bay investment team announced a joint venture to develop two senior housing communities, including one in Pasadena. The Palmer in Pasadena is designed to add 80 units. Construction financing for the community is being provided by PNC Bank.
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