SAN FRANCISCO – ASB Real Estate Investments has purchased a 187,000-square-foot office building in San Francisco’s South of Market (SOMA) district. The six-story building is located at 795 Folsom Street. The building formerly served as the headquarters for Twitter. It is once again fully leased to tenants like Kabam, AT&T and Regus. Cornerstone Real Estate Advisers LLC purchased the building in July 2011 for $71 million.
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LITTLETON, COLO. — Resource Real Estate Opportunity REIT has purchased two apartment communities in Colorado for $54.9 million. The acquisition includes the 276-unit Camden Centennial in Littleton and the 224-unit Camden Pinnacle in Westminster. The company plans to enhance and upgrade the properties’ units, common areas, exterior, landscape and onsite property management. The REIT is sponsored by Resource Real Estate.
PORTLAND, ORE. — RLJ Lodging Trust has purchased the 106-room SpringHill Suites Portland Hillsboro for $24 million. The hotel is located at 7351 NE Butler Street near Intel’s Ronler Acres campus. It underwent a major renovation in 2011. Al Calhoun, Mark Fraioli and Melvin Chu of Jones Lang LaSalle represented the seller, an entity consisting of affiliates CPA:17 – Global; a publicly held, non-traded REIT affiliate of W. P. Carey Inc.; Watermark Capital Partners, LLC; and Montclair Hotel Investors, Inc
SCOTTSDALE, ARIZ. — GPS Insight has signed a seven-year lease for 49,571 square feet of space at Henkel Corporate Center in Scottsdale. The center is located at 19001 N. Scottsdale Road. The GPS fleet tracking company will relocate its corporate headquarters from nearby 21803 N. Scottsdale Road. The center is now 95 percent occupied. GPS was represented by Matt Coxhead and Ryan Bartos of Cushman & Wakefield of Arizona. The landlord, Henkel/The Dial Corporation, was represented by Steve Corney and Andrew Medley of Jones Lang LaSalle.
CORONA, CALIF. – A 42,000-square-foot retail center in Corona has sold to Corona Capital, LTD for $4.6 million. The center is located at 4300 Green River Promenade. It is a multi-tenant investment property zoned for retail, medical and office use. Roger Niez, David Knowlton and Steve Liu of NAI Capital’s Orange County office represented both the buyer and the seller, Wayman Promenade LLC, in this transaction.
SANTA MONICA, CALIF. — Cross Campus has signed a seven-year lease for 13,337 square feet in Santa Monica. The space is located at 1558 10th Street. Cross Campus will be relocating and expanding from its current operations just two blocks away at 820 Broadway. Randy Starr and Tim Dornan of Avison Youngrepresented both Cross Campus and the landlord, Tenth & Colorado Associates Ltd., in this transaction.
ATLANTA — HFF has arranged the sale of Virginia Highlands, a 270-unit apartment community located at 609 Virginia Ave. in Atlanta’s Virginia Highland district. TA Associates Realty purchased the apartment community for $41 million free and clear of debt. The apartment community has frontage along Atlanta’s Beltline and is close proximity to Piedmont Park and the upcoming Ponce City Market retail development. Jason Nettles and Megan Thompson of HFF represented the seller, Fairfield Residential, in the transaction.
ATLANTA — Atlanta-based RCG Ventures has purchased three shopping centers in North Carolina and Mississippi. The properties include Willowdaile Shopping Center in Durham, N.C., Forest Hills Centre in Wilson, N.C., and Greenville South in Greenville, Miss. Willowdaile Shopping Center is a 93,217-square-foot center located at the corner of Guess and Horton roads. Its tenants include Ollie’s Bargain Outlet, Dollar Tree and Starbucks Coffee. CBRE’s Charlotte office represented the seller, a public REIT, in the transaction. Forest Hills Centre is a 73,102-square-foot center anchored by Big Lots and Rent-A-Center. CBRE’s Charlotte office also represented the seller, a public REIT, in this transaction. Greenville South is a 125,211-square-foot shopping center just south of Highway 82. Kroger anchors the center. RCG Ventures purchased the center directly from the lender, which had previously foreclosed on the asset.
CHAPEL HILL, N.C. — NorthMarq Capital has arranged $28.9 million in acquisition financing for Foxcroft Apartments, a 248-unit community located at 545 Ashley Court in Chapel Hill. Brett Mason of NorthMarq Capital’s Raleigh, N.C., office arranged the three-year, interest-only loan through Latitude Management Real Estate Investors on behalf of the borrower, Eller Capital Partners.
JACKSON, MISS. — Meridian Capital Group LLC has arranged $13.5 million in acquisition financing for The Park at Moss Creek Apartments, located at 5000 Ridgewood Road in Jackson. Noam Kaminetzky of Meridian Capital Group’s Boca Raton, Fla., office arranged the seven-year loan fixed at a 4.55 percent interest rate. An agency lender provided the loan.