ANAHEIM HILLS, CALIF. — JCH Senior Housing Investment Brokerage has arranged the sale of an assisted living and memory care facility located in the Inland Empire region of Southern California. A local operator acquired the property for $14.1 million. Licensed for 100 beds, the facility features 86 units. Cindy Hazzard and Jim Hazzard of Anaheim, Calif.-based JCH represented both the buyer and seller in the transaction.
PHOENIX — Gantry has secured a $28.2 million permanent loan to refinance a portfolio of five manufactured housing communities in Arizona, California and Iowa. The fully stabilized assets feature a total of 687 pads across properties in Sierra Vista and Casa Grande, Ariz., Hemet and San Bernardino, Calif., and Atlantic, Iowa. Patrick Barkley and Chad Metzger of Gantry’s Phoenix production office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was provided by an institutional balance sheet lender and features full-term interest-only payments. Gantry will service the loan.
VAN NUYS, CALIF. — Duckhorn Partners has completed the disposition of a two-tenant retail property located at 14434-14480 Sherman Way in Van Nuys. Sherman Way 26 Properties LLC, a local private investor, acquired the asset for $11.4 million. Alex Kozakov and Pat Wade of CBRE represented the seller in the deal. Situated on 1.2 acres in the San Fernando Valley, the 18,296-square-foot property was built in 1995 and offers 70 parking spaces. A national healthcare provider and El Gallo Giro, a regional restaurant chain, both occupy the property under long-term triple-net leases.
CHINO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $7 million sale of a newly constructed, 5,596-square-foot single-tenant retail property located within the master-planned community of The Preserve in Chino. A 7-Eleven convenience store — which also features a Laredo Taco Co. quick-service restaurant and 12 fuel pumps — occupies the site on a 15-year, triple-net-lease basis with 10 percent rental increases every five years. Jeremy McChesney and Andrew Sprowl of Hanley represented the developer and seller, Ledo Capital Group, in the transaction. Adam Bloom of Lee & Associates represented the buyer, a private investor. Hanley Investment Group has facilitated the sale of 52 7‑Eleven retail properties in the past six years.
FREMONT, CALIF. — BKM Capital Partners, on behalf of BKM Industrial Value Fund III, has acquired Hannover Industrial Park in Fremont for $43 million. An undisclosed seller sold the asset in an off-market transaction. Located in Silicon Valley’s I-880 Corridor, the 165,243-square-foot park consists of six buildings housing nine units with an average size of 18,360 square feet. The asset features a 14 percent overall office component, as well as a secured 67,000-square-foot paved yard. At the time of sale, Hannover Industrial Park was 74 percent occupied. BKM plans to invest $1.3 million in targeted capital improvements to reposition the property and drive tenant demand. Upgrades will include exterior paint, signage, landscaping upgrades, LED warehouse lighting and speculative tenant improvements for the three vacant suites. The asset is located at 4755-4900 Hannover Place and 4377 and 43815 S. Grimmer Blvd.
SACRAMENTO, CALIF. — Marcus & Millichap has arranged the sale of a single-tenant flex property located in midtown Sacramento. Toms Printing sold the asset to Flower Fist Art Market for $1.7 million. Constructed in 1966, the 9,600-square-foot building is located at 1819 E. St. The seller has operated its business at the location since 1989 until closing in 2015. James Beeghly, Russ Moroz, Christopher Drake, Adbullah Sulaiman and Matt Sulaiman of Marcus & Millichap represented the seller in the deal.
BAKERSFIELD, CALIF. — BWE has secured a $61 million construction loan to finance the first phase of Park Center at Seven Oaks, a planned 520-unit multifamily community in Bakersfield. Upon completion, Park Center at Seven Oaks will be the largest multifamily development in Kern County, Ariz. Phase I will include 352 garden-style apartments. Located at the southwest corner of S. Allen Road and White Lane, the initial southern phase of Park Center Apartments will feature 17 residential buildings, a leasing office, fitness center and pool house. Of the 352 planned units, 152 will be one-bedroom/one-bath units and the remaining 200 will be two-bedroom/two-bath units. Apartment amenities will include quartz countertops, subway tile backsplash, white Shaker cabinets, hardwood-style plank flooring, stainless steel appliances, in-unit washers/dryers, fiber optic internet, private patios and nine-foot ceilings. Community amenities will include a clubhouse with kitchen, lounges, coworking spaces, storage, a mail room, fitness center with yoga studio, two pools, pergola-shaded barbecue patios and fire pits and a shared active-use turf area with corn hole, volleyball and ping pong. The pet-friendly community will also offer a fenced dog run and onsite dog wash station. Tom Turnage and Alex Gregoire of BWE originated the four-year, floating-rate loan with …
POMONA, CALIF. — Progressive Real Estate Partners has arranged the sale of a single-tenant, triple-net leased retail property located at 601 E. Holt Ave. in Pomona. A private Southern California-based investor sold the asset to a Los Angeles-based private developer and investor for $5.7 million. Brad Umansky and Lance Mordachini of Progressive Real Estate Partners represented the seller, while Alex Smith of Rosewood Realty Corp. represented the buyer in the transaction. AutoZone Mega Hub occupies the 30,000-square-foot building, including mezzanine space. AutoZone Mega Hubs are larger format stores that feature a full-service retail storefront and a mini-distribution center for satellite stores in the surrounding region.
WEST HOLLYWOOD, CALIF. — Goodyear Investments, a private investor, has purchased The Shops at Hancock Lofts, a retail condominium property in West Hollywood, from an institutional owner for $13 million. Located at 8759, 8761 and 8763 Santa Monica Blvd., The Shops at Hancock Lofts features 10,513 square feet of fully leased retail space and a parking garage. Current tenants include Tender Greens, Thirty-2 Dentistry and Crossroads Trading. Patrick Wade and Alex Kozakov of CBRE represented the seller in the transaction.
SANTA MONICA, CALIF. — A joint venture between Tova Capital and Shopton Capital has acquired a freestanding retail property located on a 15,000-square-foot corner lot at 801-805 Wilshire Blvd. in Santa Monica. The asset traded for $5.5 million. Originally developed in 1981, the single-story building offers 7,500 square feet of retail space. At closing, the property was 40 percent leased to Commercial Bank of California. The joint venture plans to make upgrades to the property including a new storefront, exterior lighting upgrades, paint and facade enhancements to lease vacancy and stabilize the asset. Luc Hawkshaw, Eric Mandell and Jeffrey Ahn of Ally Commercial represented the buyers in the deal. The name of the seller was not released. Ryan Gurman of CBRE has been retained to handle leasing activities at the property.