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Prologis forms a joint venture partnership with Stirling Development and will take a 50% capital stake in all Stirling Capital Investments, including the Southern California Logistics Airport.
Alpha Capital Partners of Bridgeville, PA reports that its Opportunity Zone fund has purchased 1501 Herman St. and is planning to develop a 300-unit multifamily project there, according to Jide Famuagun, CEO of Alpha Capital.
The deal follows another major financing transaction secured for a McWhinney project. Last week, Berkadia announced it closed $170 million in financing for McWhinney's Great Wolf Lodge in Garden Grove, CA.
The market's cap rate of 4.0% indicates continued high property values, mainly because of its proximity to a range of transportation options and the major ports, says Brian Fiumara of CBRE.