CANTON AND CORINTH, TEXAS — National Health Investors (NHI) has purchased two skilled nursing facilities totaling 254 beds in Canton and Corinth. The $26.3 million purchase was funded from borrowings on NHI's revolving credit facility.
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AUSTIN, TEXAS — Seattle-based Metzler Real Estate has sold TechRidge Five, a 226,076-square-foot industrial property in Austin for $24 million. Investor group GH TechRidge Five Inc. purchased the Class A facility, which is fully leased to NCS Pearson, an education and publishing company. The light industrial facility is located at 905 W. Howard Lane. Metzler was self-represented by Matthew Paddock, in addition to Jack Fraker and Josh McArtor of CBRE, in the transaction.
SAN ANTONIO — Institutional Property Advisors (IPA) has brokered the sale of The View at Encino Commons, a 324-unit multifamily community at 21303 Encino Commons in northern San Antonio. The community features a resort-style swimming pool, an outdoor fireplace pavilion, clubhouse, Internet cafe, fitness center, surround-sound movie theater, entry gates, car wash and direct access garages. Will Balthrope and Scott Lamontagne of IPA represented the seller in the transaction. McCann Realty Partners is the buyer. IPA is the multifamily brokerage division of Marcus & Millichap Real Estate Services and serves institutional and major private investors.
HOUSTON — Resource Real Estate Opportunity REIT has purchased the 244-unit Armand Place in the Clear Lake community in Houston. The multifamily community features two swimming pools, a 24-hour fitness center, wood-burning fireplaces and shuttle services to the University of Houston-Clear Lake. Resource plans to make capital improvements to the property in the near future. Resource Real Estate Opportunity REIT is sponsored by Philadelphia-based Resource Real Estate Inc., a real estate investment and management firm.
GOLDEN, COLO. – The 196-unit Canyon Point Cottages in Golden has received $25.5 million in refinancing. The community is located at 303 Jackson Drive just northwest of Denver. It was acquired by an affiliate of MIG Real Estatein 2012. The 35-year, fixed-rate, fully amortizing loan was originated by Bill Chiles and Scott Peterson of CBRE’s Debt & Equity Finance office in San Diego, who partnered with Mary McDonald of CBRE HMF’s San Francisco office. It was funded through CBRE’s FHA-insured permanent loan program via CBRE Group’s direct HUD FHA lender.
LA HABRA, CALIF. – The 111-unit Il Pompeii Apartments in La Habra has sold to a local capital buyer for $19 million. The community is located at 861 Glencliff Street. It consists of 11 separate buildings that were originally constructed in 1969. The unnamed seller was represented by Stewart I. Weston, W. Michael Cavner and John L. Nguyen of Institutional Property Advisors, a multifamily brokerage division of Marcus & Millichap.
CARSLBAD, CALIF. — Ocean Villas at Carlsbad, a 9,300-square-foot apartment building in the San Diego submarket of Carlsbad, has sold to a limited liability company for $7.3 million. It is located at 2895 Ocean Street on the Carlsbad State Beach. The property currently operates as vacation rentals. Aaron Bove and Ben Tashakorian of Marcus & Millichap’s San Diego office represented both the buyer and the seller, also a limited liability company, in this transaction.
SAN FRANCISCO — A fully pre-leased office tower has broken ground in San Francisco. It is located at 350 Mission Street across from the new Transbay Transit Center and Millennium Tower. Salesforce.com will fully occupy the glass and concrete office tower once it’s completed in 2015. The $200-million tower is being developed by Kilroy Realty Corporation.
LAS VEGAS — Blue Diamond Crossing, a 530,000-square-foot community shopping center in southwest Las Vegas, has received $59 million in CMBS financing. The center is anchored by Kohl’s and Target. The new funds will replace construction take-out financing that was previously provided by a life insurance company. Financing was arranged by Chris Funai, Braden Turnbull and Peter Welsh of Newmark Realty Capital.
TEMPE, ARIZ. – OliverMcMillan has gained approval to develop the Lofts @ Hayden Ferry, a 264-unit, Class A apartment building in Tempe. The community will be located on the south side of Tempe Town Lake. It will be situated on a 3.69-acre vacant site within the Hayden Ferry Lakeside Master Plan. Construction is set to commence later this year.