LOS ANGELES — CBRE has secured a $23.1 million bridge and construction loan for the repositioning of the nine-story 900 South Hill Street Garage in downtown Los Angeles. Mark Fisher and Alex Furnary of CBRE’s New York office, with the assistance of Val Achtemeier of CBRE’s Los Angeles, office secured the loan on behalf of the developer, Los Angeles-based Markwood Enterprises. Markwood will construct an additional floor, and combine and expand the ground-floor space to accommodate a..
ENCINITAS, CALIF. — RAF Pacifica Group has purchased the retail portion of Pacific Station, a 100,000-square-foot mixed-use asset featuring residential office and retail space in Encinitas. Loja Retail Partners sold the asset for $24 million. Amazon, Whole Foods and Wells Fargo, among others, occupy the 39,000-square-foot retail portion. RAF Pacifica Group plans to hold the retail asset long-term. Matt Moser of Retail Insight represented the buyer and seller in the off-market..
SAN DIEGO — Genesis Kitchen + Design has opened at Campus Point in San Diego. Located at 4242 Campus Point Court, the restaurant is part of the new Genesis life science development complex by Phase 3 Real Estate Partners Inc. The project includes a full-scale fitness center, outdoor lap pool and yoga training patio. The restaurant seats 56 people inside, with seating for 120 outside and a large bar, as well as semi-private outdoor space with a gas fireplace and ping-pong table. Genesis..
IRVINE, CALIF. — CB Global Investors has purchased a 311,000-square-foot office tower in Irvine for $120 million. The 16-story tower is located at 2600 Michelson Drive. The trophy property is 99 percent occupied. Notable tenants include Loan Depot, Jacobs Engineering, Zillow and Premier Business Centers. The property was built in 1986 and renovated last year. The tower features a polished-granite-and-glass exterior, a two-story lobby that overlooks a koi pond and courtyard, and a..
SAN FRANCISCO — Sonnenblick-Eichner Co. has arranged a $110 million refinancing for the 550-room InterContinental San Francisco hotel. The hotel is located at 888 Howard St. in downtown’s South of Market (SOMA) district. The hotel includes 43,000 square feet of meeting, banquet and pre-function space; Luce, a Michelin rated restaurant; a 10,000-square-foot spa; and subterranean parking accommodating 180 valet spaces. The 10-year, non-recourse loan has a fixed interest rate in the low..
SAN DIEGO — Sunroad Enterprises has obtained $165 million in short-term, first-mortgage loans to refinance two new luxury apartment complexes in San Diego. Financing was secured for the 253-unit Ariva and the 302-unit Vive on the Park. The properties are recent apartment developments in the 40-acre, master-planned community of Sunroad Centrum in the Kearny Mesa submarket. Sunroad Centrum will include 1,622 multifamily units and 856,000 square feet of commercial office space once..
HUNTINGTON BEACH, CALIF. — Interstate Equities Corp. (IEC) has purchased the 400-unit Surf at 39 apartment complex in Huntington Beach for $134 million. The community is located at 16761 Viewpoint Lane. Surf at 39 was built in 1972. It features two swimming pools with spas, a business center, fitness facility, clubhouse, dog park and barbecue area. IEC notes that Surf at 39 will remain a workforce housing community. About 80 percent of the units are in their original condition, but are..
ROSEVILLE, CALIF. — A joint venture between Barker Pacific Group and WHI Real Estate Partners has purchased Douglas Corporate Center, a 213,982-square-foot office center in Roseville, for an undisclosed sum. The Class A center is located at 2901 Douglas Blvd. in the Douglas Corridor, just north of Sacramento. The joint venture purchased the property through auction. BBVA Compass Bank provided debt financing for the transaction. Chris Lemmon and Zac Collie of Newmark Cornish & Carey..
LOS ANGELES — Rexford Industrial Realty has acquired a four-property industrial portfolio in Southern California for $62.7 million. The portfolio contains a total of 416,843 square feet. The assets are fully leased with below-market, in-place leases rolling over in the next 20 months. The transaction includes 302 S. Rockefeller Ave. and 4355 E. Brickell St. in Ontario, along with 12622-32 Monarch St. in Garden Grove and Hanan Way in the Pico Rivera submarket of Central Los Angeles. Rexford..
LOS ANGELES — Gaw Capital Partners has purchased the 107,875-square-foot studio campus in the Los Angeles submarket of Atwater Village formerly occupied by Playboy. The space is located at 3030 Studios. The price was not disclosed. The studio features studio, production and creative office space located on nearly four acres of land. The private studio campus offers a full-service production and broadcast facility with three soundstages. JLL’s Nicole Mihalka, Carl Muhlstein and Hayley..