CBRE Sells $90M Phoenix Multifamily, $25.7M Costa Mesa Retail Portfolio

CBRE has facilitated two major real estate transactions this year. In Costa Mesa, California, CBRE’s National Retail Partners-West team sold Westport Plaza & Square, a 39,334-square-foot shopping center, to Asana Partners for $25.7 million. The property is 97% leased to local tenants and benefits from a long-term ground lease through 2079, marking Asana Partners as the first institutional investor in this retail corridor. Meanwhile, in downtown Phoenix, CBRE negotiated the $90 million sale of a three-property multifamily portfolio comprising 323 units across Linear, iLuminate, and The McKinley communities. Regent Properties acquired these Class A urban residential buildings, marking its first multifamily acquisition in Phoenix and highlighting continued institutional interest in the area. Both deals underscore growing investor confidence and strategic positioning in their respective markets.