Business
DWG Capital Group, Newmark Arrange $92.7 Million Debt and Equity Financing for Three-Community Inland Empire Multifamily Portfolio
LOS ANGELES—Judd Dunning, president, DWG Capital Group, and Brian Bowis, managing director, Newmark, have arranged $92,723,000 in debt and equity financing for a 397-unit multifamily portfolio across three Inland Empire locations in California.
Dunning and Bowis facilitated the financing on behalf of a Los Angeles-based private client, an experienced owner and operator of apartment communities with a disciplined approach to asset management. The funding for the three communities was secured through an undisclosed lender, one of their many ongoing core capital markets relationships.
“Our structured finance and capital markets teams collaborated to ensure our client had explored every available capital solution before making the best and final decision,” commented Dunning. “The assets all have strong fundamentals with significant upside and our final financing stack was designed to best accommodate the our clients immediate business plan, which was embraced by our lender.”
Vista Springs is a 212-unit, apartment community at 21550 Box Springs Road, Moreno Valley, Calif. The newly placed loan funds the project and completes a successful capital improvements program, including the remodeling of the remaining 100 units and exterior improvements to provide parking garages and enclosed private patios.
Highlander Pointe is a 133-unit apartment community situated at 1055 W Blaine Street, Riverside, Calif. The new loan enables the borrower to reposition the highly sought-after Highlander Pointe property situated within a supply-constrained Southern California market. One of the few luxury properties within the Riverside market, the community offers significant value-add opportunities.
Acquisition financing for Pebblebrook Apartments, a 52-unit project at 631 Church Street, Redlands, Calif., further enables expansion within the Inland Empire that will allow the sponsor to provide best-in-class housing within a high-income community located 60 miles northeast of Los Angeles and 45 miles west of Palm Springs.
“Each of the properties demonstrate dynamic features with stable in-place cash flow and unrivaled upside potential. Our comprehensive marketing efforts focused on delivering excellent terms for a repeat client while demonstrating his impressive track record in creating value within the multifamily sector. The offering was extremely well received by the capital markets and we are thrilled that we have been able to structure this complicated transaction.
“DWG’s relationship with the private fund and borrower and ability to analyze multiple solutions and strategies, combined with Newmark’s understanding of the broader multifamily arena, resulted in a tremendous outcome and we look forward to continuing to work with the company further grows its portfolio in strategic markets.”
Business
Sweet Success: The Inland Empire Regional Chamber of Commerce Teams with The Freaky Cookie to Elevate Local WBENC-Certified Business
How The Freaky Cookie Grew with Chamber Support: A WBENC Success Story in the Inland Empire
At the Inland Empire Regional Chamber of Commerce (IERCC), we pride ourselves on championing business growth and recognizing the powerful stories of our members. One standout example is Sheila Cavalier, founder of The Freaky Cookie—a fun and rebellious cookie catering company she launched in 2018 alongside her son, Marcus.

What began as a direct-to-consumer venture has grown into a business-to-business powerhouse, fueled by innovation, strategy, and strong community ties. The Freaky Cookie specializes in custom-labeled, individually wrapped cookies for corporate gifts, bulk orders, and special events. Their nostalgic family recipe, dating back over 90 years, delivers both flavor and flair. As Cavalier puts it, “There’s never not a need for a large amount of cookies.”
Recognizing a unique market opportunity during the pandemic, Sheila pivoted the business model to focus on custom-branded cookies—meeting the surge in demand for individually packaged baked goods that also serve as creative marketing tools. “Corporations were tired of traditional marketing,” she recalls. “Our custom-labeled cookies became a fun, fresh alternative.”
In 2022, Sheila connected with IERCC President Edward Ornelas Jr. during the Multi-Chamber Mixer at Ontario International Airport. That meeting led to The Freaky Cookie joining IERCC, which soon opened doors to strategic partnerships and increased visibility. Through the chamber’s vast network and advocacy, Sheila has built relationships with organizations such as Bank of America, Fifth Third Bank, Top Golf, and Southwest Airlines, which featured The Freaky Cookie in their 50th Anniversary celebration at ONT.
“The IERCC has been a warm and welcoming space,” Cavalier said. “Having the chamber validate our business really means something. It’s helped us get our foot in the door with so many great companies.”
The impact has been tangible. With increased revenue and expanded operations, The Freaky Cookie is no longer just a clever name—it’s a growing force in regional commerce. As Sheila puts it, her goal now is simple but powerful: “Deliver smiles.”
Business
Fire Helmet Manufacturer Helps Disabled Community find Employment
Riverside’s Phenix Technology Leads with Inclusion, Empowering the Disabled Community Through Workforce Training and Employer Education
Written by Logan Rosselli, IEBJ Content Contributor
In the heart of Riverside, off of Chicago Avenue, a small, but mighty team has been quietly manufacturing life-saving equipment for firefighters across the world for over 50 years. Phenix Technology Inc. is an internationally recognized fire helmet manufacturer who builds their products from start to finish right here in the Inland Empire. For their great products, they’ve received numerous awards such as the Greater Riverside Chamber of Commerce’s 2025 Innovator of the Year, a 2016 “E” for Exports award from the U.S. Department of Commerce, a finalist position in the “Coolest Thing Made in California” competition and more. However, their most recent accolade doesn’t involve their products at all.
In 2024, Phenix founded the ground breaking “Opportunity for All” program to provide disabled community members with the opportunity to access career education, hands-on experience and employment opportunities through an 11 week training cohort. In this program, neurodivergent individuals wanting to find stable employment learn about standard hiring practices, writing a resume, effective interviewing and professional attire while getting on-the-job training with a partnered employer in the community. It has helped dozens of disabled community members to find a new sense of independence and achieve their full potential while helping local employers find dependable employees who bring a unique perspective to the workplace.
It’s for this program that the National Association of Workforce Development Boards (NAWB), a representative of over 570 workforce development boards across the United States, honored Phenix with the prestigious W.O. Lawton Business Leadership Award in late March.
“While we take tremendous pride in the products we make, we also believe we have a mission to create a better world through developing opportunities,” said Angel Sanchez, CEO of Phenix Technology in a statement released in early April. “Opportunity for All has helped prove that individuals who have historically been excluded from the workforce don’t just contribute — they elevate organizations. We are honored to receive this national award and grateful to the partners who have helped us make this vision a reality.”

CEO Angel Sanchez Jr. accepts the NAWB Award
Though “Opportunity for All” is certainly the cornerstone program for the company, Phenix’s leadership team was not satisfied to leave their mission there. Thus, in 2024, the company founded its nonprofit arm, Phenix Gateway to offer more programs and advocacy to the community. Through Phenix Gateway, the company offers workforce development workshops for individuals who don’t need the full scale of the “Opportunity for All” program, but want to improve a specific skill like resume writing or workplace social skills.
However, Phenix knows that preparing disabled people for the workforce is only one end of the equation; the workforce also has to be prepared to accept the unique skills, perspectives and challenges of the disabled community. For this reason, Phenix Gateway offers employer training workshops as well as educational materials available to businesses and the community. Training programs cover a lot of ground, ranging from assistance with optimizing interviews for people with neurodevelopmental disorders to creating sensory-friendly environments in the workplace.
In Riverside, these programs have had a huge impact on the local community. As of March 2025, Phenix’s Opportunity for All program has had over two dozen participants and 44% found stable employment through or after the program. Their one-off workforce development workshops have seen over 200 participants learn new skills and help them find employment and the nonprofit currently partners with close to 90 businesses to assist them in their endeavor to create a more inclusive workforce.

Phenix Gateway staff helps a program participant with his skills
For businesses or community members interested in learning how they can support or participate in these programs, Phenix encourages them to reach out by email to info@phenixgateway.org and to attend their First Annual Gala: Rising Together, A Phenix Gateway Celebration, on Thursday, May 15th. Tickets for this event are available at phenixgateway.org.
Business
Supported by Local Leaders, CALED’s Annual Conference will be in Ontario this May
Empowering Economic Growth: CALED Conference Set to Unite Industry Leaders in Ontario
CALED’s ‘Growing Local Economies from the Ground Up’ Conference is being held in Ontario at the DoubleTree by Hilton Hotel Ontario Airport on May 7-9. This event is co-hosted by the City of Ontario and San Bernardino County, with Jennifer McLain Hiramoto, CALED’s Chair of the Board and Derek Armstrong respectively representing their city and county as Co-Chairs of the event.
With over 950 members and 45 years of empowering economic developers, CALED is the largest economic development association in the country and the annual conference is the number one place to meet and connect with the boots-on-the -ground, decision makers in our communities.
The conference will include a pre-conference teaching tour, ‘Building & Paying for Development Projects’ on May 6th and then begin in full on May 7th, with a welcome session and breakouts. Overall, there will be four general assembly sessions and 18 breakout sessions, which will delve into local economic development practices and innovative tools.
In addition to compelling content, the conference will have numerous opportunities to connect with community leaders and valued peers through networking receptions, the culinary crawl, and new this year, the Tournament of Champions, where conference attendees will navigate a gauntlet of games to win the grand prize on the evening of Thursday, May 8th.
To learn more about the conference and register, visit the CALED website at www.caled.org.
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