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Avanath Capital Purchases Three Affordable Communities in Sacramento for $56.5M

SACRAMENTO, CALIF. — Avanath Capital Management LLC, an institutional fund manager that specializes in affordable and workforce housing investments, has acquired a three-property affordable housing portfolio in Sacramento for $56.5 million. The properties total 468 units and offer a mix of seniors housing, family housing and mixed-income housing. The acquisition nearly doubles Avanath’s footprint in Sacramento, which it cites as one of the hottest real estate markets in the..

June 20, 2017

Columbia Pacific Advisors to Acquire Hawthorn Retirement Group

SEATTLE AND VANCOUVER, WASH. — Columbia Pacific Advisors, a real estate investment fund manager, has agreed to acquire Hawthorn Retirement Group, a seniors housing owner-operator, for an undisclosed price. Both firms are based in Washington state, Columbia Pacific in Seattle and Hawthorn in Vancouver. Hawthorn’s portfolio includes 55 communities in operation and 24 under construction or in pre-development across 20 states and two Canadian provinces. The acquisition includes the portfolio..

June 20, 2017

Harbor Associates Buys Century City Office Property for $14.7M

LOS ANGELES — Harbor Associates has purchased a 30,000-square-foot office property in the Los Angeles submarket of Century City for $14.7 million. The four-story building is located at 10281 West Pico Blvd. It was built in 1981. NKF’s Kevin Shannon, Ken White, Rob Hannan and Brad Feld represented the seller, Spanish Broadcasting System (SBS), in this transaction. SBS owned and occupied the building since 1994.

June 20, 2017

dd’s DISCOUNTS to Debut 200th Store in June

MANTECA, CALIF. — dd's DISCOUNTS, a division of Ross Stores Inc. will open its 200th store in Manteca, Calif., on June 24. The 18,000-square-foot Northern California store is located in the Stadium Center at Highway 120 and Airport Way. The new location will increase the store count to 84 in California. Together, Ross Dress for Less and dd's DISCOUNTS currently operate approximately 1,560 off-price apparel and home fashion stores in 37 states, the District of Columbia and Guam.

June 20, 2017

Dave & Buster’s to Open First Location in Utah in 2018

SALT LAKE CITY — Next spring, Dave & Buster’s will open its first Utah location at The Gateway in downtown Salt Lake City. In addition to its $100 million redevelopment plan, The Gateway and its parent company, Vestar, were looking for a big name, family-friendly venue to anchor its rebranding effort. With restaurants in 34 states and internationally, Dave & Buster’s offers a combination of entertainment and dining, offering its customers the opportunity to “eat, drink, play..

June 20, 2017

Archon Acquisition Buys Phoenix Office Property for $81.7M

PHOENIX — Archon Acquisition LLC has purchased a 295,401-square-foot office property in Phoenix’s Camelback Corridor for $81.7 million. The two-building property is located at 3131 and 3133 Camelback Road. The asset is 93 percent occupied. It was built in 1998. Lincoln Property Co. serves as the property manager. JLL’s John Bonnell, Brett Abramson and Chris Latvaaho will lead the leasing efforts. The seller was TR Camelback Corp. JLL's Dennis Desmond and Lynn LaChapelle executed the..

June 19, 2017

LA Clippers to Scout for New Basketball Arena in Inglewood

INGLEWOOD, CALIF. — The Los Angeles Clippers and the City of Inglewood have entered into a three-year exclusive negotiating agreement (ENA) that will allow the basketball team to explore the option of building a new basketball arena within the city. The arena would also include training facilities and team offices. The Clippers will consider a 20-acre site situated south of Century Boulevard at Prairie Avenue, directly across the street from the future football stadium and entertainment..

June 19, 2017

Walker & Dunlop Arranges $43.5M Loan for the Tennyson at Crescent Village in Eugene

EUGENE, ORE. — Walker & Dunlop has arranged $43.5 million in financing for the 263-unit Tennyson at Crescent Village in Eugene. The newly constructed, Class A multifamily community is located at 2850 Shadow View Drive. Crescent Village is Eugene’s first master-planned urban neighborhood. The Tennyson contains 35 buildings with units ranging from one- to three-bedrooms. Amenities include a clubhouse with a brew station and fitness center with on-demand classes, racquetball courts, a..

June 19, 2017

Chinese Investor Purchases Uptown 11 Apartments in Seattle for $32.3M

SEATTLE – China-based Xaio Investment Co. has acquired the 34-unit Uptown 11 apartment complex in Seattle for $32.3 million. The community is located at 11 W. Mercer St. CVS occupies the ground-floor retail space. Units range from studios to two-bedroom units. The seller was Velmeir Cos.

June 19, 2017

Doyle Properties Acquires Anaheim Industrial Facility for $19.8M

ANAHEIM, CALIF. — Doyle Properties has purchased an 84,928-square-foot industrial facility in Anaheim for $19.8 million. The flex facility is located at 1250 N. Tustin Ave. The property will serve as the Econolite Group’s new high-image facility. The group specializes in dynamic intelligent transportation systems and transportation management. Econolite previously occupied a former 144,000-square-foot property on La Palma Avenue. The company was in search of a new facility where it..

June 19, 2017