REBusinessOnline

Broadreach, Rockwood Break Ground on $250M Bay Area Mixed-Use Project

MOUNTAIN VIEW, CALIF. — Broadreach Capital Partners and Rockwood Capital have broken ground on Ameswell Mountain View, a mixed-use development situated on one of last fully entitled development sites in Mountain View, just northwest of San Jose. Located at the convergence of U.S. 101 and State Route 85, the property is the culmination of four years of planning and land assemblage by Broadreach. Situated on 10 acres, the project will feature a 220,000-square-foot, Class A office building …

Xenon Investments Buys 81-Unit Apartment Property in Hollywood for $28M

LOS ANGELES — Xenon Investments, a local multifamily operator, has purchased Las Palmas Villa Apartments, located at 2039 N. Las Palmas Ave. and 2026 N. Highland Ave. in Hollywood. Berk Investments sold the property for $28 million. The 67,700-square-foot asset features a mix of studio/junior one-bedroom, one-bedroom and two-bedroom units, controlled access, a swimming pool with sundeck, courtyard with fountain, parking, laundry facilities on each floor and elevator access to all levels. …

George Smith Partners Arranges $22.3M in Financing for Multifamily Development in Los Angeles

LOS ANGELES — George Smith Partners has secured $22.3 million in financing for the ground-up development of a workforce multifamily property located in Los Angeles' Koreatown district. The borrower and property developer is a joint venture between Index Real Estate Investments and Ketter Construction. Located at 3057 W. Pico Blvd., the project will feature 51 workforce apartment units and 3,350 square feet of ground-floor retail space. Construction is underway on the development, with a …

Cadence Living Acquires 158-Unit Seniors Housing Community Near San Francisco

MILLBRAE, CALIF. — Cadence Living has acquired Marymount Greenhills Retirement Center, a 158-unit independent living, assisted living and memory care community in the San Francisco suburb of Millbrae. Cadence plans to renovate the property over the next year and rename it Cadence Millbrae. The project will modernize the apartments, corridors and common areas. Greenhills Retirement Center is located adjacent to Greenhills Park and has views of San Francisco Bay. Cadence Living is a …

NavPoint Real Estate Negotiates $6.5M Sale of Mixed-Use Property in Boulder

BOULDER, COLO. — NavPoint Real Estate Group has arranged the sale of a multi-tenant retail/medical office property located at 3280-3300 28th St. in Boulder. REM Investment sold the property to Peterman Properties for $6.5 million. The property features 39,368 square feet of retail and medical office space. John Witt and Matt Call of NavPoint Real Estate Group represented the seller in the

Lincoln Property Co. Buys 103,494 SF Office Building in Seattle for $58.7M

SEATTLE — Lincoln Property Co. has purchased 501 Eastlake, an office property located in Seattle's South Lake Union submarket. LBA Realty sold the five-story property for $58.7 million, or $568 per square foot. Built in 2002, the 103,494-square-foot property features an on-site athletic facility and walkable amenities. At the time of sale, the building was 79 percent leased to a variety of tenants, including the regional headquarters of Capital One. Kevin Shannon, Nick Kucha, Michael …

Hanley Investment Group Arranges $10.3M Sale of Shopping Center in Sacramento

SACRAMENTO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Natomas Shopping Center in Sacramento. A Bakersfield-based private investor sold the property to another private investor for $10.7 million in an off-market transaction. CVS/pharmacy, Ace Hardware and Dollar Tree anchor the 50,168-square-foot property. Built in 2007, the asset is situated on 7.5 acres at 2000-2050 Club Center Drive. At the time of sale, the retail center was 100 percent …

Sun Commercial Real Estate Brokers $6.5M Sale-Leaseback of Office Property in Las Vegas

LAS VEGAS — Sun Commercial Real Estate has arranged the sale-leaseback of Windmill Place, an office property located at 370 E. Windmill Lane in Las Vegas. MSA Engineering Consultants sold the property to an East Coast-based buyer for $6.5 million, or $299 per square foot. The seller signed a new 10-year lease at closing for the 21,638-square-foot building. In operation since 1978, MSA Engineering is licensed in 40 states. Cathy Jones, Jessica Cegavske, Roy Fritz, Paul Miachika and …

iBorrow Provides Two Loans Totaling $11.7M for Properties in San Francisco, Spokane

SAN FRANCISCO AND SPOKANE, WASH. — iBorrow, a private direct lender for commercial real estate, has provided two loans totaling $11.7 million for properties in San Francisco and Spokane. The lender funded a $5.6 million loan to refinance a four-story, 9,580-square-foot building, located at 131 Franklin St. in San Francisco. The asset is situated on a 2,395-square-foot lot in the Hayes Valley neighborhood. The name of the borrower was not disclosed. Additionally, iBorrow provided a $6.1 …

Store Capital Corp. Acquires Big-Box Retail Building in Arizona for $3.4M

CHANDLER, ARIZ. — Scottsdale-based Store Capital Corp. has purchased a big-box retail property located at 1200 N. Alma School Road in Chandler. Five Sons Furniture AZ LLC sold the building for $3.4 million. Ray Cashen of Cashen Realty Advisors represented the seller in the deal. Situated on 6.8 acres, the property features 62,286 square feet of space. VASA Fitness, the tenant, plans to invest $3 million in improvements at the property to convert it into a state-of-the-art health club …