SANTA ANA, CALIF. — The Arbors, a 160-unit apartment complex in Santa Ana, has sold to CW Investment Group LLC for $28 million. The community is located at 1100-1200 East Fairhaven Ave. The buyer was represented by Daniel Blackwell of Marcus & Millichap. The unnamed seller was represented by Stewart I. Weston and W. Michael Cavner of Institutional Property Advisors (IPA).
GRESHAM, ORE. – The 264-unit Columbia Trails Apartments in Gresham has received $20.3 million in first-mortgage refinancing. The community is located at 1112 NW 15th Street just east of Portland. The low-leveraged loan was based on a 10-year, interest-only term. Financing was arranged by Ron Peterson of NorthMarq Capital’s Seattle regional office through the firm’s seller-servicer relationship with Freddie Mac.
AURORA, COLO. – The 143-unit Windsor Court Apartments in Aurora has received a $9-million refinance. The community is located at 1570 Joliet Street. The loan features a 10-year, fixed-rate term and a 30-year amortization schedule. It was originated by Jarett Blasberg of Alliant Capital LLC.
PHOENIX — Baseline Interstate, a 136,683-square-foot industrial warehouse/office property in Phoenix, has sold to Dalfen America Corp. for $7.5 million. The buyer was doing business as Mazal TOV Realty, LPL. The property is located at 4707 E. Baseline Road. The building was vacant at the time of sale. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley’s Capital Markets Group represented Dalfen. The seller, Holualoa Companies, was represented by CBRE.
MENIFEE, CALIF. – A 4,000-square-foot property in Menifee that is net leased to Panera Bread has sold to a private investor for $2.1 million. The property is located at 30318 Haun Road. Panera entered into a new 15-year, triple-net sale leaseback with the buyer upon close of escrow. The buyer was represented by Ron Duong in Marcus & Millichap’s Newport Beach office. The seller, also a private investor, was represented by Glen Kunofsky and Don McMinn, also of Marcus & Millichap.
WINSTON-SALEM, N.C. — Publix Super Markets Inc. has unveiled its plans to enter the Winston-Salem market with a 49,000-square-foot store located at 34 Miller St. The store will be the third Publix in Mecklenburg County. The new location, which is slated to open in 2015, will feature covered parking below the store. Publix has made known its plans to expand its footprint in North Carolina, with previous stores announced for Cornelius, Ballantyne, Asheville, Cary and two in the greater Charlotte area. Publix currently has 1,072 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.
BIRMINGHAM, ALA. — Hendricks-Berkadia has arranged the $18.3 million sale of Madison at Shoal Run, a 276-unit apartment community located in Birmingham. The purchased involved the assumption of an existing Freddie Mac loan fixed at 6.1 percent with an approximate balance of $13 million. David Oakley of Hendricks-Berkadia's Alabama office represented both the seller, Alabama-based Madison at Shoal Run LLC, and the buyer, New York-based TEG Madison at Shoal Run LLC, in the transaction.
SANDSTON, VA. — CBRE | Richmond has brokered the $9 million sale of 5700 Audubon Drive, a 317,400-square-foot warehouse/distribution center in Sandston, about nine miles east of Richmond. Mazda used to occupy the property before a local manufacturing group purchased the property. The one-story, tilt-up concrete property is located on a 16-acre parcel near the Richmond International Airport. John Carpin and Matt Anderson of CBRE | Richmond represented the seller in the transaction.
ATLANTA — Los Angeles-based Thorofare Capital has provided an $8.2 million recapitalization financing for a 420-unit multifamily portfolio in Atlanta. The three-property portfolio has an average 73 percent occupancy. The loan includes a $900,000 capital expenditure facility.
HOFFMAN ESTATES, ILL. — Leopardo Cos. has started construction on four suburban Chicago municipal projects totaling $31 million. One of the projects includes the $15.5 million, 70,000-square-foot West Chicago Community Recreation Center at Reed-Keppler Park. The facility will feature a three-court gymnasium, three-lane elevated jogging track, large fitness equipment area, dance/aerobic studio and group fitness room and indoor playground. Leopardo also began work on the 11.2 million, 31,000-square-foot New Lenox Police Department, which will include a multi-purpose/training room and staff areas for code enforcement, investigations and command staff. The last two projects include the $2.2 million, 10,000-square-foot Bartlett Fire Station and the $2.1 million, 10,000-square-foot expansion of South Barrington Village Hall, a two-story, 7,000-square-foot police station.