BANNING, CALIF. — Marinita-Sage Rancho LLC has completed the disposition of Sun Lakes Village, a retail property in Banning, to a private investor for $8.7 million. Located at 300 S. Highland Springs Ave., Sun Lakes Village offers 97,380 square feet of retail space. Current tenants at the property include Hobby Lobby, Marshalls and Big Five. Paul Bitonti of Marcus & Millichap represented the seller and procured the buyer in the deal.
HUNTINGTON BEACH, CALIF. — DJM Capital Partners has sold its ownership stake of Bella Terra, a 1 million-square-foot mixed-use development in Huntington Beach. DJM has managed and co-owned the property since 2005. The property is now fully owned by PGIM Real Estate, DJM’s long-term partner in Bella Terra. Terms of the deal were not disclosed.
BERKELEY, CALIF. — Gilbane Development Co. has broken ground on Pique, a 485-bed student housing project located at 2587 Telegraph Ave. near the University of California (UC) Berkeley campus. The eight-story community will offer 52 units with bed-to-bath parity. Shared amenities will include an indoor and outdoor fitness center and yoga studio, outdoor study space, a cabana area, two rooftop decks, a coworking lounge, smart food lockers, private study pods and 2,900 square feet of ground-floor retail space. The project will begin leasing in fall 2025 with occupancy scheduled for summer 2026. The development site was formerly occupied by retailer Buffalo Exchange. “We are focused on making every inch count with efficiency, privacy and functionality at the core of the design, driving innovation that caters to the needs of Berkeley students at an affordable price point,” says Christian Cerria, development director with Gilbane.
CORNING, CALIF. — SRS Real Estate Partners and Hanley Investment Group have arranged the sale of a retail property located at 570 Solano St. in Corning, approximately 25 miles from Chico. A Redding, Calif.-based private investor sold the asset to a Napa Valley, Calif.-based private investor for $7.2 million. Sav-Mor Foods occupies the 32,000-square-foot property, which is situated on 2.6 acres. The store is run by North State Grocery, which operates 21 locations in California and Oregon. Alexander Moore of SRS Capital Markets and Lee Csenar of Hanley Investment Group represented the seller in the transaction.
POWAY, CALIF. — Coastal Holdings Group has acquired an industrial building located at 12155 Paine Place in Poway for $4.1 million from Bergo Enterprises. The buyer plans to use the 11,050-square-foot property to accommodate its electrical contracting business. Chris Duncan of Voit Real Estate Services represented the buyer, while Robb Kerr of Intersection Commercial Real Estate represented the seller in the deal. Prior to the acquisition of 12155 Paine Place, Duncan brokered the $3.4 million sale of an 8,049-square-foot industrial building located at 13851 Danielson St. on behalf of Coastal Holdings Group. Escobar Family Real Estate Holdings acquired the asset as an investment property. Travis Jaedtke of Strategic Real Estate Group represented the buyer.
OAKLAND, CALIF. — Gantry has secured $27.8 million in financing on behalf of a private real estate investor for the purchase of a portfolio of eight multifamily properties in Oakland. The portfolio includes 225 apartments and three commercial units at one of the properties. Jeff Wilcox and Erinn Cooke of Gantry represented the borrower. The financing was structured as a three-year, variable rate acquisition loan provided by a single institutional debt fund. The instrument included prepayment flexibility and extension options.
WALNUT, CALIF. — CapRock Partners has completed the disposition of West Valley Logistics Center, a LEED-certified industrial warehouse in Walnut. Completed in December 2024, West Valley Logistics offers 270,000 square feet of speculative industrial space situated on 12.5 acres at 4200 Valley Blvd. The property features a clear height of 40 feet, secure dual access with drive-around capabilities, rear loading with 28 dock-high doors, 45 trailer parking stalls, 130 car spots, ample power and 10,000 square feet of two-story office space. Matt Moore, Wes Hunnicut and Michael Torres of Stream Realty represented CapRock Partners, while Mike Hartel and Nick Velasquez of Colliers represented the undisclosed buyer in the deal. The acquisition price was not released.
CARLSBAD, CALIF. — Yunqun LLC has acquired a 21,481-square-foot multi-tenant industrial building located at 5924 Balfour Court in Carlsbad. The Gildred Cos. sold the asset for $6.2 million. Yunqun plans to occupy the vacant 12,105 square feet in the building for its manufacturing business with move-in expected later this year. Chris Baumgart and Steven Field of JLL represented the seller, while Hank Jenkins, Mike Erwin and Tucker Hohenstein of Colliers represented the buyer in the transaction.
SACRAMENTO, CALIF. — Reliant Group has completed the sale of The Lofts, an apartment property in Sacramento’s Natomas submarket. Jackson Square Properties acquired the asset for $52.3 million. Located at 3351 Duckhorn Drive, The Lofts offers 188 one- and two-bedroom units, with more than 40 percent including loft-style floor plans. Select units feature attached direct-access garages, nine-foot vaulted ceilings, dual-pane windows and luxury flooring. Community amenities include a swimming pool, hot tub, fitness center, an outdoor barbecue and entertainment center and a playground. Marc Ross of CBRE represented the seller in the deal. Ryan Greer and Trevor Breaux of CBRE Capital Markets Debt & Structured Finance arranged financing on behalf of the buyer.
LOS ANGELES — Keystone Mortgage Corp. has arranged $73.1 million in fixed-rate permanent loans to refinance a portfolio of industrial properties totaling 1.1 million square feet in Southern California. Situated on a combined 52.9 acres, the portfolio features nine concrete tilt-up buildings. Nick Viscount of Keystone’s Orange County, Calif., production office secured the financing on behalf of the borrower, a private real estate investor. Keystone arranged the loans through a life insurance company lender, which provided the nonrecourse loans, each featuring a 10-year fixed-rate and full-term interest-only payments.
