Demand continues to outpace the the new supply of speculative space.

The deal marks the third multifamily acquisition between Tower 16 Capital and the US subsidiary of UK-based investment firm Henley that has amassed a portfolio of nearly 1,300 units in Las Vegas so far this year.

Financing was secured for a mixed-use circa-1909 building in a well-located urban core position on Franklin Street in the revitalized Hayes Valley.

The Phoenix medical office market steamed ahead in the second quarter after an anemic start to the year.