REBusinessOnline

California

HFF Arranges $12.6M Refinancing for Retail Building in Santa Monica

SANTA MONICA, CALIF. — HFF has arranged a $12.6 million refinancing for 3202-3212 Wilshire Blvd., a 28,209-square-foot retail building located in Santa Monica. CVS/pharmacy and BevMo fully occupy the property. Jeff Sause, Paul Brindley and Ryan Ash of HFF worked on behalf of the borrower, a local family office advised by The Luzzatto Company Inc., to place the non-recourse, fixed-rate loan with a life insurance company. Loan proceeds were used to supplement the borrower’s planned..

March 29, 2017

iHerb Leases 19,993 SF of Office Space in Pasadena

PASADENA, CALIF. — iHerb has signed a five-year lease for 19,993 square feet of office space in Pasadena. The space is located at 301 N. Lake Ave. iHerb is a California-based retailer with more than 35,000 natural products. It will occupy the entire sixth floor. The Class A building offers access to the 210 and 134 freeways. It is directly adjacent to Lake Avenue Gold Line. Carl Anderson of NAI Capital represented the landlord, pension fund owner Operating Engineers Funds, while the firm’s..

March 29, 2017

Marina Vista Apartments in Napa Sells for $10.3M

NAPA, CALIF. — A private investor has purchased the 42-unit Marina Vista Apartments in Napa for $10.3 million. The community is situated approximately one mile from Highway 29 and nearby to the 150,000-square-foot River Park Shopping Center. It was built in 1978. Greg Cohn of Capital Realty Group and Ron Karp represented the buyer. Vincent Schwab of Marcus & Millichap represented the seller, a syndicator based in Southern California, in this transaction.

March 28, 2017

Blueprint Arranges Sale of 100-Unit Assisted Living Community in Visalia

VISALIA, CALIF. — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has arranged the sale of Park Visalia Assisted Living, a 100-unit assisted living community in Central California. The community is located in Visalia in the San Joaquin Valley, approximately midway between Los Angeles and the Bay Area. The sellers, a Chicago-based private equity firm, acquired Park Visalia in 2014, investing in several capital improvement projects and bringing in a..

March 28, 2017

Ventas Buys Six Koelsch Seniors Housing Communities for $137M in Sale-Leaseback Transaction

OLYMPIA, WASH. — Ventas has acquired six seniors housing communities from Koelsch Communities for $137 million and will immediately lease all the properties back to the Olympia-based operator. The communities acquired include Canterbury Park in Longview, Wash.; Cedarbrook in Fresno, Calif.; The Hampton & Ashley Inn and The Hampton at Salmon Creek both in Vancouver, Wash.; Madison House in Kirkland, Wash.; and Spring Creek Inn in Bozeman, Mont. The transaction increases the number of..

March 27, 2017

Pacifica Host Hotels Divests Best Western Plus Otay Valley in San Diego

SAN DIEGO — Pacifica Host Hotels has sold its 118-room Best Western Plus Otay Valley in the San Diego submarket of Chula Vista to a California-based hotel ownership group. The price was not disclosed. The hotel will retain the Best Western branding. The new owner plans to renovate the hotel. Leigh-Anne Ashton, Bruce Holmes and Harry Hashim of HotelBrokerOne represented both parties. The transaction involved a 1031 exchange.

March 27, 2017

Red Robin Apartments in Sacramento Sells for $3.9M

SACRAMENTO, CALIF. — A limited liability company has acquired the 60-unit Red Robin Apartments in Sacramento for $3.9 million. The community is located at 2080 Red Robin Lane. It features four studios, 26 one-bedroom units, 26 two-bedroom units and four two-bedroom townhomes. Steve Nelson and Dusty Haeling of Marcus & Millichap represented both the buyer and seller, another LLC, in this transaction.

March 27, 2017

Anda Realty Capital Buys 54,961 SF Office Building in Pasadena

PASADENA, CALIF. — Anda Realty Capital has purchased a 54,961-square-foot office building in Pasadena for an undisclosed sum. The seven-story building is located at 225 E. Colorado Blvd. It is situated across the street from the Paseo Colorado mixed-use development and less than two blocks from Old Town Pasadena. The property was originally built in 1912 for Citizens Savings Bank. The building's original marble walls, wood paneling and brass finishes have been completely restored in recent..

March 27, 2017

TH Real Estate Buys Creative Office Building in San Francisco

SAN FRANCISCO — TH Real Estate has purchased a 59,868-square-foot creative office building in the South of Market (SoMa) neighborhood of San Francisco for an undisclosed price. The building is located at 539 Bryant St. The property was originally built in 1912 as a warehouse facility. It was converted to creative office space in 1983. The building is fully occupied by tenants like HoneyBook, Life360, Sauce Labs, HKS Architects and Gigwalk. TH Real Estate is an affiliate of Nuveen, the..

March 24, 2017

SCA Architecture Completes $9.3M Renovation of Gateway Marketplace in Chula Vista

CHULA VISTA, CALIF. — SCA Architecture (formerly known as Smith Consulting Architects), a San Diego-based architectural firm, has completed the planning, design and construction of a repositioning at Gateway Marketplace, located at Fourth Avenue and C Street in Chula Vista. Brixton Capital is the developer of the $9.3 million remodeling project. Situated on an 8.8-acre lot, the project consisted of renovating an abandoned Target building in an existing neighborhood. The former Target store..

March 24, 2017