REBusinessOnline

Continuing Life Plans 480-Unit Seniors Housing Community in Orange County, California

SAN JUAN CAPISTRANO, CALIF. — Continuing Life has unveiled plans for Reata Glen, a 480-unit continuing care retirement community in San Juan Capistrano. Reata Glen is located on 60 acres in South Orange County, where 13 percent of the population are seniors. That number is expected to double by 2040, according to Continuing Life. Partners on the project include California-based W.E. O’Neil Construction and KTGY Group Architects. Construction is already underway, with a planned …

IPA Arranges $45M Sale of Vue Hollywood Apartment Building in Los Angeles

LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Vue Hollywood, an apartment building located at 1425 N. Alta Vista Blvd. in Los Angeles’ Hollywood neighborhood. Phoenix Group purchased the property from a private multifamily investment firm for $45 million, or $489,326 per unit. Built in 1987, the property features 92 non-rent-controlled apartments. The building features mostly two-bedroom units with an average size of …

TH Real Estate Sells 468,682 SF Industrial Warehouse in Inland Empire for $68.9M

RANCHO CUCAMONGA, CALIF. — TH Real Estate, an affiliate of Nuveen, has completed the sale of an industrial warehouse located at 9050 Hermosa Ave. in Rancho Cucamonga. Deutsche Wealth Services acquired the property for $68.9 million, or $147.11 per square foot. Built in 2004 on a 20-acre site, the freestanding, cross-docked property features 468,682 square feet of Class A industrial space. The asset offers fully-secured concrete truck courts, gate-controlled drive-around access, an ESFR …

NB Private Capital Acquires Student Housing Property Near Sacramento State University for $38.5M

SACRAMENTO, CALIF. — NB Private Capital has purchased The Element, a student housing community located at 6730 Fourth Ave. in Sacramento, from an undisclosed seller. The property was offered as a Delaware Statutory Trust and eligible for 1031 investors, and was 100 percent occupied upon syndication with 12-month leases. The initial total offering price was $91.8 million, of which approximately $38.5 million came from investor equity. Serving students at Sacramento State University, The …

CBRE Brokers Sale of 112,335 SF Santa Fe Trail Plaza in El Monte, California

EL MONTE, CALIF. — CBRE has arranged the sale of Santa Fe Trail Plaza, a grocery-anchored community center in El Monte, east of downtown Los Angeles. A joint venture between Los Angeles-based Festival Capital and Hartford, Conn.-based Hutensky Capital Partners sold the 112,335-square-foot shopping center to Newport Beach, Calif.-based TA Realty for an undisclosed price. Completed in 2006, Santa Fe Trail Plaza is situated on 9.2 acres at 10601-10761 Valley Blvd. and 10714 King Court. …

Newmark Knight Frank Negotiates Sale of 586,407 SF Mixed-Use Property in San Leandro

SAN LEANDRO, CALIF. — Newmark Knight Frank has arranged the sale of Westgate Center, a grocery-anchored mixed-use retail center located at 1933 Davis St. in San Leandro. SKB and WHI Real Estate Partners sold the property to a New York-based global private equity firm for an undisclosed price. The 586,407-square-foot property features a 361,132-square-foot retail component and 225,275 square feet of flex office and prototyping space. Walmart, Home Depot, Ross Dress for Less, Burlington and …

Cushman & Wakefield Brokers $1.8M Sale of Industrial Building in Metro San Diego

VISTA, CALIF. — Cushman & Wakefield has arranged the sale of a freestanding industrial building, located at 2530 Pioneer Ave. in Vista. Ki’s Kitchen purchased the 9,150-square-foot property from BS Ventures for $1.8 million. Built in 1989, the property features a modernized conference room, private office space, open break room/reception, floor-to-ceiling glass walls, multiple restrooms, motorized grade loading and a secured fenced yard. The buyer, a privately owned commercial …

Braemar Hotels & Resorts to Acquire Ritz-Carlton Lake Tahoe for $120M

TRUCKEE, CALIF. — Braemar Hotels & Resorts has agreed to acquire Ritz-Carlton Lake Tahoe, an upscale hotel and resort property located 13031 Ritz Carlton Highlands Court in Truckee. Additionally, the company is acquiring a 3.4-acre parcel of vacant land adjacent to the hotel. The land is being entitled for luxury residential townhome development. Total consideration for the acquisition is $120 million and consists of $103.4 million for the hotel, or $608,000 per key; $8.4 million for …

BLT Enterprises Divests 54,000 SF Flex Building in San Diego’s Kearny Mesa for $18M

SAN DIEGO — Santa Monica, Calif.-based BLT Enterprises has completed the sale of an R&D and flex building, located at 5454 Ruffin Road in San Diego’s Kearny Mesa district. San Diego Unified School District acquired the asset for $18 million, or $330 per square foot. BLT acquired the property in 2017. During its ownership, the company converted the 77,000-square-foot, two-story office building back to its original 54,000-square-foot size by removing the dated addition of a …

Panattoni Development Co., PGIM Real Estate Begin Construction of 1.2 MSF Industrial Building in Inland Empire

RIALTO, CALIF. — Panattoni Development Co., in partnership with PGIM Real Estate, has started construction of Building 1. The 1.2 million-square-foot industrial building is located within the Rialto Fulfillment Center at 3520 S. Cactus Ave. in Rialto. Situated on 122 acres, Rialto Fulfillment Center is a planned two-building, 2.25 million-square-foot fulfillment and distribution center. Building 1 will be a freestanding cross-docked facility with internal truck drive around capacity. The …

subscribe


Conferences