TUCSON, ARIZ. — CBRE has arranged $75.4 million in supplemental financing for a seven-property portfolio of continuing care retirement communities owned by a joint venture that includes The Freshwater Group and Watermark Retirement Communities. The group of properties is spread across six states and comprises of 1,308 independent living beds, 541 assisted living beds, 97 memory care beds and 373 skilled nursing beds. The financing, arranged by Aron Will of CBRE National Senior Housing,..
TEMPE, ARIZ. — A joint venture between Transwestern Investment Group (TIG) and JDM Partners has acquired a 2 million-square-foot office property in Tempe in a sale-leaseback with State Farm Automobile Insurance. The Class A campus, called Marina Heights, is located at 300-600 Rio Salado Parkway. The price was not disclosed. The five-building campus includes ground-floor retail, restaurants and other amenities. It is situated between Arizona State University and Tempe Town Lake. Marina..
RANCHO SANTA MARGARITA, CALIF. — Marcus & Millichap (NYSE: MMI) has arranged the sale of Buena Vida at Town Center, a 115-unit age-restricted community in the Orange County city of Rancho Santa Margarita. A private investor sold the property to an undisclosed buyer for $34.8 million, or $302,000 per unit. Built in 2006 on more than three acres, the three-story property is located directly across the street from Central Park in Rancho Santa Margarita, near the Santa Margarita Parkway,..
PERRIS, CALIF. — HFF has arranged the sale of Perris Plaza, a 150,148-square-foot, grocery-anchored retail center in the Inland Empire community of Perris. Gleb Lvovich and Bryan Ley of HFF arranged the transaction on behalf of the seller, Condures Family LP. Nuevo Perris LLC, a joint venture between Wood Investments, Joel Farkas and SandTree Holdings, acquired the asset for an undisclosed price. At the time of sale, Perris Plaza was 97.6 percent leased to tenants including Food 4 Less,..
FREMONT, CALIF. — Cushman & Wakefield Senior Housing Capital Markets Group has arranged the sale of Fremont Hills, a 97-unit assisted living and memory care community in the Silicon Valley city of Fremont. The price was not disclosed. A joint venture between Kayne Anderson Real Estate Advisors and Watermark Communities acquired the property from Capitol Seniors Housing. Watermark will operate the community following the sale. Originally built in 2004, Fremont Hills features 76..
NAMPA, IDAHO — RCG Ventures LLC has acquired Nampa Gateway Center, a 471,340-square-foot retail center in Nampa, a suburb of Boise, for an undisclosed price. Greg Brown, Chris Drew and Peter Thompson of HFF arranged a three-year, fixed-rate loan with two one-year extensions through A10 Capital for the acquisition. Other terms of the transaction were not disclosed. JC Penney anchors the center, which is home to tenants including Shoe Carnival, Edwards Theater, CircusTrix and Crunch..
Stillwater Investment Group, CrossHarbor Capital Partners Obtain $34M Loan for QLogic Office Campus in California
ALISO VIEJO, CALIF. — A joint venture between Stillwater Investment Group and CrossHarbor Capital Partners has obtained a $34 million loan to renovate and lease Element, a 165,028-square-foot office campus in the Orange County submarket of Aliso Viejo. The Class A campus is located at 26600, 26650 and 26700 Aliso Viejo Parkway. The property formerly served as the headquarters for QLogic. Element is situated near the 73 Freeway, close to the Aliso Viejo Town Center, Renaissance Clubsport..
SANDY, UTAH — Keller Investment Properties has purchased the Park at City Center, a 330-unit apartment complex in Sandy. Though the price was not disclosed, this was the “largest total dollar sale price for a single multifamily asset this year,” according to CBRE’s Patrick Bodnar and Eli Mills, who executed the transaction. The Park at City Center is located at 213 W. Civic Center Drive. Resort-style amenities include a swimming pool, hot tubs, golf simulator, executive-style lounge,..
ROSEMEAD, CALIF. — Panda Express, which first opened on the West Coast in 1983, has opened its 2,000th location, with the newest location in New York City. Located in Manhattan, where Panda Express marked its East Coast expansion in 2015, the new restaurant is at the corner of Broadway and 111th Street. The 1,500-square-foot restaurant will provide seating for up to 38 guests. Since launching its first traditional New York City location two years ago, Panda Express has opened five..
SAN DIEGO — Sundance, a retailer of women's and men's apparel, footwear, jewelry, accessories, art and home décor, has opened its newest store in Westfield University Town Center in San Diego. Since August 2015, Sundance has opened stores in Edina, Minn.; Dallas; Southlake, Texas; Scottsdale, Ariz.; Tigard, Ore.; Atlanta; and Leawood, Kan., adding to its existing legacy stores in Park Meadows, Colo., and Corte Madera, Calif. Robert Redford, the famed actor, director and visionary of..