REBusinessOnline

Mogharebi Group Facilitates $12.2M Sale of Apartment Community in Bakersfield, California

BAKERSFIELD, CALIF. - The Mogharebi Group (TMG) has arranged the sale of Case Del Sol Apartments, a 205-unit multifamily community located at 2601 Fremont St. in Bakersfield. A San Fernando Valley, Calif.-based private investment group purchased the property for $12.2 million. Built in 1965, the gated community features a mix of studio and one-bedroom layouts, a swimming pool, 24-hour maintenance and a central laundry facility. Alex Mogharebi, Otto Ozen, Robin Kane and Mark Bonas of TMG …

HFF Arranges $145M Construction Loan for Office Building Renovation, Expansion in San Francisco’s SOMA District

SAN FRANCISCO - HFF has arranged $145 million in construction financing for 633 Folsom, a seven-story office building located in the SOMA submarket of San Francisco. The Swig Co. will use the loan proceeds to complete a full-building renovation and expansion, which will add five floors to the property. Once completed, the 171,632-square-foot building will become a 12-story, 266,053-square-foot Class A office building. Originally built in 1967 by The Swig Co., 633 Folsom has been fully leased …

CV Mission Critical REIT II Acquires Two-Building Data Center Portfolio in Sacramento from Digital Realty Trust for $51M

SACRAMENTO, CALIF. - Carter Validus Mission Critical REIT II (CV Mission Critical REIT II) has purchased the Rancho Cordova Data Center Portfolio for $51 million, excluding acquisition fees and costs. Located in Sacramento, the portfolio consists of two single-story facilities: a 69,048-square-foot turnkey colocation data center, located at 11085 Sun Center Drive, and a 63,791-square-foot, multi-tenant wholesale data center, located at 3065 Gold Camp Drive. At the time of sale, the …

CIM Group, 1547 Break Ground for 187,000 SF Data Center in San Francisco

SAN FRANCISCO - CIM Group, in partnership with fifteenfortyseven Critical Systems Realty (1547), has commenced construction for its 240,000-square-foot data center campus on 7.3 acres at 400 Paul Ave. in San Francisco. The first phase of development will include the renovation of two existing 1930s-era buildings. Totaling 54,225 square feet, the buildings will be modernized to provide creative office and support space for data center tenants. Additionally, construction will start immediately …

JLL Arranges $33M Sale of Seven-Story Office Building in San Diego

SAN DIEGO - JLL Capital Markets has brokered the sale of 1450 Frazee, an office building located in San Diego's Mission Valley district. A joint venture between Hill Properties and a fund managed by DRA Advisors acquired the property from an affiliate of Menlo Equities for $33 million. At the time of sale, the seven-story, 140,477-square-foot building was 90.6 percent leased to 27 tenants. Lynn LaChapelle, Bob Prendergast and Sach Kirpalani of JLL arranged the

Colony Industrial Acquires Two-Building Industrial Portfolio in Bay Area

SAN LEANDRO, CALIF. - Colony Industrial has purchased the two-building East Bay industrial portfolio in San Leandro for an undisclosed price. Totaling 587,051 square feet, the portfolio includes two light industrial buildings located at 2380-2388 Williams St. and 1717 Doolittle Drive. The portfolio is leased to five tenants. This is Colony Industrial's first investment in the Oakland/East Bay area. Darla Longo, Barbara Perrier, Rebecca Perlmutter Finkel and Michael Kendall of CBRE brokered the …

Goldrich Kest Buys 43-Unit Apartment Building in West Hollywood for $23.6M

WEST HOLLYWOOD, CALIF. - Culver City, Calif.-based Goldrich Kest has purchased Infinity West, an apartment building located at the intersection of Sunset Boulevard and La Brea Avenue in West Hollywood. Bolour Associates sold the property to Goldrich Kest for $23.6 million. Built in 2012, the 43-unit property features a mix of studio, one- and two-bedroom layouts, a fitness center, conference room and secured parking. Blake Rodgers of HFF represented the seller in the

HFF Arranges $132.9M Refinancing for Three-Property Apartment Portfolio in San Mateo

SAN MATEO, CALIF. — HFF has arranged $132.9 million in refinancing for a three-property apartment portfolio located within Bay Meadows, a master-planned community in San Mateo. The borrower, an affiliate of Stockbridge Capital Group, used the loan proceeds to retire existing construction financing. Totaling 336 units, the portfolio includes the 108-unit Field House located at 282 Pony Lane; the 158-unit The Russell located at 3098 Kyne St. West; and the 70-unit Quimby located at 3068 …

Walker & Dunlop Provides $10M Construction Loan for Assisted Living Facility in Sonoma County

CLOVERDALE, Calif. — Walker & Dunlop Inc. has provided $10 million in HUD financing for the construction of Vine Ridge, a 51-unit assisted living community in the Sonoma County city of Cloverdale. The community will consist of a two-story, 42,000-square-foot building on a 2.5-acre site. Western Living Concepts is developing and will operate the property, the second seniors housing community in its portfolio. Vine Ridge is scheduled for completion in 2019. Walker & Dunlop's …

A&G Realty Partners Launches Healthcare Property Division

LOS ANGELES — A&G Realty Partners has launched a new division focused on increasing the productivity of U.S. healthcare providers' real estate holdings. Peter Lynch, a Los Angeles-based principal, will led the company's new Healthcare Property Division. "Healthcare over the next five years will undergo an accelerating metamorphosis driven by the need for innovation, convenience and affordability," says Lynch. "The forces in play are every bit as disruptive as those afoot in retail or …