Property Type

Hilton Garden Inn Waikiki Beach to Debut in 2016

by Nellie Day May 1, 2015

Hilton Worldwide has announced it will open the new the 623-guestroom Hilton Garden Inn Waikiki Beach on Oahu early next year. It will occupy the former site of OHANA Waikiki West at 2330 Kuhio Ave. That structure was built in 1970. The resort’s public spaces and guestrooms are currently undergoing a renovation that should be completed in early 2016. Hilton is also adding a full-service restaurant and lounge, a grab-and-go market, a modern lobby and a new fitness center. The hotel will also feature an enhanced pool deck with a bar, grill and poolside cabanas. This will be the firm’s first Hilton Garden Inn hotel on the island of Oahu. It will be managed by Evolution Hospitality.

May 1, 2015

California Industrial Western

Silicon Valley Office, R&D Building Sells for $37.5M

by Nellie Day May 1, 2015

SAN JOSE, CALIF. — Drawbridge Realty has purchased a two-building office and R&D campus in San Jose for $37.5 million. The 60,000-square-foot campus is located at 5300-5350 Hellyer Ave. in the Silicon Valley region. The space is triple-net leased to Cobham Electronic Systems through May 2022. The firm develops and manufactures microwave and millimeter wave products, among other things. The property has served as Cobham’s Western U.S. headquarters since it was first built in 2000. The seller, Hellyer Avenue LP, was represented by CBRE’s Joe Moriarty.

May 1, 2015

California Multifamily Western

Waypoint Property Group Buys the Waterfront in Newport Beach

by Nellie Day May 1, 2015

NEWPORT BEACH, CALIF. — Waypoint Property Group has purchased the Waterfront, a 64-unit apartment community in Newport Beach, for $25.5 million. The community is located at 919 Bayside Drive. The Waterfront is situated across from Balboa Island. The property, which was built in 1964, overlooks Newport Harbor. Common-area amenities at the property include private single-car garages, a salt-water pool, a poolside lounge and a clubhouse. Select units feature stainless-steel appliances, fireplaces, new wood-style floors, quartz countertops and recessed lighting. The seller, BT Real Estate Group, was represented by Stewart I. Weston of Institutional Property Advisors.

May 1, 2015

Hospitality Utah Western

DoubleTree by Hilton Park City – The Yarrow Opens in Utah

by Nellie Day May 1, 2015

Hilton recently debuted the DoubleTree by Hilton Park City – The Yarrow in Utah. This resort occupies a former resort, the Yarrow Resort Hotel & Conference Center, which received an extensive renovation. The property is located at 1800 Park Ave. It is situated near Park City Mountain Resort, Deer Valley Resort and Canyons Resort. The renovation will upgrade the hotel’s guestrooms, meeting spaces and public areas. Amenities include a year-round heated outdoor swimming pool and hot tub, 24-hour fitness center and a 24-hour business center. A new game room will open at the resort later this year. The Yarrow property also features 11,837 square feet of flexible event space, including a 5,100-square-foot ballroom that accommodates more than 700 guests.

May 1, 2015

Healthcare Loans Mixed-Use Southeast Tennessee

HFF Arranges Refinancing for Mixed-Use Medical Center in Nashville

by John Nelson May 1, 2015

NASHVILLE, TENN. — HFF has arranged refinancing for One Hundred Oaks, an 891,470-square-foot mixed-use retail and medical office center in south Nashville. Redeveloped in 2010, the property is located off I-65 within five miles of Vanderbilt Hospital and Vanderbilt University. Vanderbilt University Medical Center fully occupies One Hundred Oaks’ medical office space, which comprises more than 50 percent of the property’s overall square footage. The retail portion is 99 percent leased to Regal Cinemas, Burlington Coat Factory, Ross Dress for Less, T.J. Maxx, PetSmart, Michael’s, Electronic Express, Guitar Center, Ulta Beauty, Kirkland’s Home, Sketchers, Logan’s Roadhouse, Panera Bread and Panda Express. John Rose, Campbell Roche and Gay Thomas of HFF arranged the fixed-rate loan through Northwestern Mutual on behalf of the borrower, LaSalle Investment Management.

May 1, 2015

Loans Multifamily Southeast Virginia

Walker & Dunlop Arranges $401.9M in Acquisition Financing for Multifamily Portfolio in Virginia

by John Nelson April 30, 2015

BETHESDA, MD. — Walker & Dunlop Inc. has closed a portfolio of acquisition loans totaling $401.9 million for three multifamily properties in northern Virginia’s Fairfax County. The assets total 2,175 units and include the Avant in Annandale, Amberleigh Apartments in Fairfax and The Edgemoore in Alexandria. The apartments include one-, two-, and three-bedroom apartments with community amenities including playgrounds, swimming pools, business centers, tennis courts, nature trails and dog parks. Brendan Coleman and David Redmond of Walker & Dunlop led the team that closed the loans on behalf of the borrowers, Redbrick LMD and David Werner Real Estate Investments. The loans were brokered to Walker & Dunlop through Meridian Capital Group and Eastdil Secured.

April 30, 2015

Arizona Office Western

Select Income REIT Buys Farmers Insurance Building in Phoenix

by Nellie Day April 30, 2015

PHOENIX – Select Income REIT has purchased the Farmers Insurance Building, a 106,397-square-foot office building in Phoenix, for $16.8 million. The building is located at 16001 N. 28th Ave. in the Arizona Business Park. The property will be managed by Reit Management & Research LLC. The seller, Sabal Financial Group, was represented by CBRE’s Barry Gabel, Chris Marchildon, Ashley Brooks, Jim Bayless and Jenny Aust. Sabal purchased the property through its Granite Twenty Eighth Holdings entity.

April 30, 2015

California Industrial Western

Silicon Valley Office, R&D Complex Changes Hands

by Nellie Day April 30, 2015

SAN JOSE, CALIF. – A 160,000-square-foot office and R&D campus in Silicon Valley has sold to Drawbridge Realty for an undisclosed sum. The campus contains two office and R&D buildings that were fully leased to Cobham Electronic Solutions. The buildings are located at 5300 and 5350 Hellyer Ave. in San Jose. It was constructed in 2000. The seller, Hellyer Avenue Limited Partnership, is a partnership lead by affiliates of Berg & Berg and Republic Properties Corporation. It was represented by CBRE’s Joseph Moriarty, Russell Ingrum, Sean Sullivan, Brad Zampa, Tyler Meyerdirk and Bob Steinbock.

April 30, 2015

California Multifamily Western

Glendale Apartment Community Sells for $4.1M

by Nellie Day April 30, 2015

LOS ANGELES – A 16-unit apartment complex in the Los Angeles submarket of Glendale has sold to a private family trust for $4.1 million. The community is located at 1323 N. Columbus Ave. It was built in 1927. The trust was represented by Salleh Beitollahi and Rick Raymundo of Marcus & Millichap Real Estate Investment Services.

April 30, 2015

California Office Western

Los Angeles Office Building Sells for $3.8M

by Nellie Day April 30, 2015

LOS ANGELES – A 12,453-square-foot office building in Los Angeles has sold to 3211 Cahuenga LLC for $3.8 million. The building is located at 3211 Cahuenga Blvd. West. It is fully occupied. The LLC was represented by Roger L. Beck of Charles Dunn Company. The seller, a local private investor, was represented by Stacy Vierheilig-Fraser of the same firm.

April 30, 2015

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