REBusinessOnline

Investors Capital Group Acquires 289-Unit Multifamily Property Near Tucson, Arizona

TUCSON, ARIZ. — Investors Capital Group has purchased Domain 3201, a multifamily property located within the Casas Adobes area of Tucson. Aspen Square Management sold the property for $37.7 million. Situated on more than 12 acres, Domain 3201 features 298 apartments, three resort-style swimming pools, spas, poolside cabanas, picnic areas and a full-size tennis court. The property was constructed between 1985 and 1990. Hamid Panahi, Steve Gebing and Cliff David of Institutional Property …

Mark IV Capital Buys 4,300-Acre Crossroads Commerce Center Development Site Near Reno, Nevada

FERNLEY, NEV. — Mark IV Capital, in partnership with Heath Rushing of New Nevada Resources, has acquired Crossroads Commerce Center, a 4,300-acre industrial and commercial property located in Fernley, for an undisclosed price. The asset has been rebranded to Victory Logistics District. Situated 30 miles east of Reno, Nev., Victory Logistics Center will be completed in phases with the first phase including approximately 7.5 million square feet of industrial space. Build-out is expected to …

CBRE Arranges $55.9M Refinancing for HERE Creative Office Campus in Orange County

LAGUNA HILLS, CALIF. — CBRE Capital Markets’ Debt & Structured Finance team in San Diego has arranged a $55.9 million loan for the refinancing of HERE, an office campus in Laguna Hills. Originally built between 1988 and 1989, the five-building property features 223,974 square feet of office space. The seller, a joint venture between Cigna Investments Management and Cruzan, originally acquired the property in 2015 and invested more than $13 million in capital and tenant improvements, …

Koelsch Communities Completes $40M Seniors Housing Property in Chandler, Arizona

CHANDLER, ARIZ. — Koelsch Communities has completed The Park at Copper Creek, an independent living community in Chandler. The $40 million property features more than 130 apartments. Amenities include a woodworking shop, theatre, veranda, and patio. In addition, there are two interior courtyards, outdoor exercise stations, and fitness center equipped with compressed air workout stations. A classic 1956 Dodge Custom Royal Lancer is also featured near the entrance, a unique feature of …

Intracorp Purchases Land Parcel for Apartment Development in Southern California

IRVINE, CALIF. — Intracorp has acquired a land parcel located at 2055 Main St. in Irvine’s Business Complex. LBA Realty sold the asset for an undisclosed price. Intracorp plans to develop a 178-unit apartment building on the 2.2-acre site, which is located at the corner of Main Street and Gillette Avenue. The property will feature five stories of residential living with a rooftop amenity deck. Construction is scheduled to begin in summer 2020, with leasing starting in late

Bellwether Enterprise Arranges $126.5M Refinancing for Newly Completed Apartment Complex Near Los Angeles

BURBANK, CALIF. — Bellwether Enterprise Real Estate Capital LLC has arranged a $126.5 million loan for the refinancing of Talaria at Burbank in Los Angeles County. Completed in February, the apartment community is home to 241 luxury units, a ground-floor Whole Foods Market and subterranean parking. The four-story property is located at 3401-3425 W. Olive Ave. across the street from NBC, ABC, Warner Bros. and other major film/television studios. The complex features a mix of one-, two- and …

Jupiter Equities Acquires 140-Unit Caliber at Cornerstar Apartment Complex in Colorado for $40.7M

AURORA, COLO. — Jupiter Equities has purchased Caliber at Cornerstar, a newly built apartment complex located at 15930 E. Briarwood Circle in Aurora. The Garrett Cos. sold the property for $40.7 million. Situated on 4.6 acres, Caliber at Cornerstar features 140 units in a mix of one-, two- and three-bedroom layouts with premium finishes, walk-in closets, full-size washers/dryers, granite or quartz countertops and nine-foot ceilings. Community amenities include a fitness center, attached …

Wood Partners Breaks Ground on 314-Unit Alta Art Tower in Portland, Oregon

PORTLAND, ORE. — Wood Partners has broken ground on Alta Art Tower, a Class A multifamily property located at 1516 SW Alder St. in Portland. The high-rise tower will feature 314 units in a mix of studio, one-, two- and three-bedroom floor plans. Units will feature quartz kitchen countertops; stainless steel Energy Star appliances, including gas cooking ranges; vinyl-wood flooring; en-suite master baths with custom-framed mirrors; tile shower surrounds and soaking tubs; walk-in closets; and …

Realty Advisory Group Arranges Acquisition of 319,860 SF Industrial Property in Phoenix

PHOENIX — Realty Advisory Group has brokered the acquisition of a single-tenant industrial property located at 2060 S. 51st Ave. in Phoenix. Nuveen Real Estate purchased the property for an undisclosed price. The name of the seller was not released. Situated on 17.44 acres, the property features 319,860 square feet of Class A industrial space. At the time of sale, the asset was 100 percent leased to Royal Paper Converting. The building features 30-foot clear heights, 38 dock-high doors, an …

CBRE Negotiates $13.3M Sale of Mixed-Use Chandler Business Center in Arizona

CHANDLER, ARIZ. — CBRE has arranged the sale of Chandler Business Center, a creative office, flex-tech and retail space located in Chandler. New York-based Fullerton Properties acquired the multi-tenant property from Los Angeles-based Montana Avenue Capital for $13.3 million. Located at 6150 and 6170 W. Chandler Blvd., Chandler Business Center is a two-building, value-add, mixed-use complex offering a total of 129,840 square feet. Butler Design Group designed the property in collaboration …

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