BUENA PARK, CALIF. — Golden Capital Venture has purchased the 200-room Radisson Suites Buena Park for an undisclosed sum. The hotel is located at 7762 Beach Blvd. in the Orange County submarket of Buena Park. It is situated within the Buena Park Entertainment Zone. The buyer plans to make improvements to the hotel and rebrand it as Radisson Suites Anaheim-Buena Park. Golden Capital Venture is a subsidiary of INVOBAL Corporation. Daniel Shaunt of Reeco represented the company. CBRE’s Bob Kaplan and Rod Apodaca represented the seller, Khanna Enterprises Ltd.
TEMPE, ARIZ. — University House Communities has opened the second phase of University House, a 16-story, 148,680-square-foot building with 242 beds and two-, three- and four-bedroom options near Arizona State University’s campus. Designed by Dallas-based architecture firm BOKA Powell to complement the existing adjacent first phase, University House amenities include a resort-style pool and hot tub, a scoreboard-sized LED outdoor TV screen, a clubroom with gaming systems, a yoga and steam room, fitness center, outdoor grilling stations as well as indoor/outdoor study areas and conference rooms. Apartments range from 716 to 1,289 square feet, with fully equipped kitchens. Each unit has floor-to-ceiling windows that provide views of the Sun Devil Stadium across the street. Units are available to students for nine- and 12-month leases. Sixthriver Architects completed the interior design for the new tower. Materials and furnishings include mirrored tile, natural wood planks and exposed concrete.
ST. CHARLES, MO. — Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving real estate investors, has arranged the sale of Carrington Place of St. Charles, a 234-unit, 294-bed continuing care retirement community in St. Charles, a northwestern suburb of St. Louis. The $17 million sales price equates to approximately $72,650 per unit. The seller was not disclosed. The buyer was a private owner/operator based in Chicago. Mark Myers, Josh Jandris and Charles Hilding of IPA represented the seller and procured the buyer along with and Marcus & Millichap associate Richard Lynn. Carrington Place of St. Charles features 138 independent living units, 32 memory care units, 27 assisted living units, and 66 private and semi-private skilled nursing beds.
LANCASTER, OHIO — Marcus & Millichap has arranges the sale of a 120-unit apartment community in Lancaster for $4.9 million. Oak Valley is located at 1899 Independence Blvd. and was built between 1993 and 1998. The property offers one- and two-bedroom townhomes and ranch units. Jordan Marshall, Richard Lattro, Daniel Burkons, Michael Barron and Joshua Wintermute of Marcus & Millichap listed the property on behalf of the sellers and procured the buyer in the transaction. Both parties were undisclosed.
URBANDALE, IOWA — Lifespace Communities Inc. will break ground on a $9 million redevelopment project for Deerfield Retirement Community, a continuing care retirement community in Urbandale, a Des Moines suburb. The expansion will add new living options and health services, including new models of assisted living and memory care. Currently, Deerfield only offers skilled nursing and independent living. Milwaukee-based AG Architecture is the designer for the redevelopment project, and Minneapolis-based Weis Builders is the contractor. Construction is scheduled for completion by summer 2016.
CHICAGO — SVN | Chicago Commercial has brokered the $2.5 million sale of a 6,000-square-foot, mixed-use building in Chicago. The building is located at 615 W. Randolph St. Donnie Madia of One Off Hospitality Group purchased the building and operates the Avec Restaurant on the ground floor. The second floor is used for office space, and the third and fourth floors are residential. Scott Maesel, Chad Schroedl and Drew Dillon of SVN | Chicago Commercial represented the seller, Dorothy Jankowski, in the transaction.
KANSAS CITY, MO. — Retail Properties of America Inc. has sold The Shops at Boardwalk, a 122,397-square-foot shopping center located in Kansas City, for an undisclosed price. GDA Real Estate Services LLC purchased the asset on behalf of ACF Property Management free and clear of existing debt. The fully leased center is home to tenants including Gold’s Gym, Jos. A. Bank, Kirkland’s, Chipotle, Houlihan’s, Rue 21, Maurices and a separately owned Lowe’s and Walmart. Amy Sands, Clinton Mitchell and Barry Brown of HFF worked on behalf of the seller in the transaction.
HACKENSACK, N.J. — Redwood Realty Advisors has arranged the sale of two apartment properties located in Hackensack. Totaling 99 apartment units, the assets sold for $16.4 million. Built in 1975, the properties include the 46-unit Driftwood Apartments at 20 Second St., and the 53-unit El Dorado Apartments at 240 Anderson St. The undisclosed buyer plans to reposition the properties. Thomas McConnell, Kevin McCrann, Michael Scrima and Jeremy Wernick of Redwood Realty represented the seller, Rose Realty Inc., in the transaction.
HORSHAM, PA. — HFF has arranged a $28 million loan for the refinancing of a two-building portfolio in Horsham, a suburb of Philadelphia. The borrower was an affiliate of Endurance Real Estate Group LLC. The 10-year loan, which features a fixed rate, was provided by Silverpeak Real Estate Finance. Loan proceeds will be used to refinance existing debt. The portfolio includes 200 Precision Drive, a 126,500-square-foot facility with 63,000 square feet of warehouse space, 49,400 square feet of office space and a 14,200-square-foot laboratory; and 425 Privet Road, a 120,290-square-foot property fully leased to Teva Pharmaceuticals. 200 Precision Drive is leased to Finisar Corp., C&D Technologies and DrugScan. Ryan Ade and Campbell Roche of HFF represented the borrower in the financing.
GROTON, MASS. — Senate Construction Corp. has completed the second phase of construction at Boynton Meadows, a mixed-use development in Groton. The second phase consists of eight townhomes, ranging in size from 2,000 square feet to 2,500 square feet with additional walkout and basement space. The first phase of the project, which was completed in 2012, included mixed-use office and retail space, including a yoga studio, bakery and dental office, and the third phase, slated to begin soon, will include seven residential units. Developed by Mount Laurel Development the overall project includes the restoration of a historic, colonial structure, the addition of retail space and the construction of 15 townhouse units overlooking Gibbet Hill. Maugel Architects designed the mixed-use project, which was financed by Bank of New England.