Middle Market Digest: This Week in Southwest

Development activity has picked up this week, with several ground breaking and delivery announcements. Southern California saw the bulk of the new starts, with projects in Pasadena, Costa Mesa and Riverside, however, two of the projects are public works. UC Riverside is updating a landmark, and the City of Pasadena is development a community building at a public park. In Costa Mesa, an apartment building opened its doors, and another condo start broke ground in Arizona. In addition to the development, investment deals continued to surge across asset classes. Here’s a look at this week’s trends, announcements and deals that you may have missed in Southern California, Utah, Arizona and Nevada.

NEW & NOTABLE

LOS ANGELES—Stepp Commercial has hired Darin Beebower as EVP.  In his 25 years of experience, Darin has completed in excess of $2 billion in multifamily sales transactions totaling more than 7,500 units. In his new role with Stepp Commercial, Beebower will be responsible for expanding the firm’s market share in key Los Angeles submarkets with a focus on Hollywood, Koreatown, and the San Fernando Valley. Beebower most recently served as a senior executive director with Madison Partners and had been with the firm since 2001. In that role, he was instrumental in developing the firm’s multifamily service offering. Over the years, Beebower has established a strong reputation as an expert advisor who has represented some of Southern California’s most active institutional and large private investors and developers.