HOLLYWOOD, CALIF. — A 4,896-square-foot office building in Hollywood that is home to Sunset Edit has sold to a principal of the private editing firm for $2.2 million. It is located at 849 Seward Ave. Sunset Edit provides post-production services to film, TV and music videos. The building was previously occupied by FilmCore. Michael B. Rubin of NAI Capital’s Westlake Village office represented both the buyer and the seller in this transaction.
SANTA ANA, CALIF. – The 121-room Santa Ana Hampton Inn & Suites has sold to Trigild, Blu Hotel Investors and Pacifica Real Estate Group (PREG) for an undisclosed sum. The hotel is located at 2720 Hotel Terrace Drive in Santa Ana. It is situated on 1.45 acres near South Coast Plaza and John Wayne International Airport. The hotel will undergo an extensive renovation and will continue operating under the current Hampton franchise agreement.
TACOMA, WASH. — Allenmore Medical Center’s Building B, an 86,942-square-foot, mid-rise medical office building in Central Tacoma, has sold to Berschauer Group NW, LLC for $10.4 million. It resides on the Multicare Health System’sAllenmore hospital campus. The seven-story building is located at 1901 South Union Ave. The seller, Unico Medical Properties, LLC, was represented by Lori Hill,Stuart WilliamsandAnn Chamberlin of Jones Lang LaSalle’s Seattle office, Joe Euphratof JLL’s Capital Markets-Healthcare practice and Bill Frame of Kidder Mathews.
MIAMI — An investment group led by Miami-based Banyan Street Capital has acquired Brickell Bayview Centre, a 285,595-square-foot office tower in Miami, for $70 million. The buyers also included Boca Raton, Fla.-based Crocker Partners and Independencia, a Chilean investment fund. Brickell Bayview, located at 80 S.W. 8th St., is a landmark 33-story tower in the heart of Brickell's financial district. With 16 stories of structured parking below, the office space starts at the 17th floor. The property is 88 percent leased to 47 tenants. Christian Lee, Charles Foschini, Christopher Apone and Amy Julian of CBRE represented the seller in the transaction. No buyer's representative was involved in the deal.
LEWISBURG, TENN. — Marvin’s Building Materials and Home Centers has leased 30,000 square feet in the Parkway Shoppes Plaza at the intersection of Highway 431 and US31A/TN11 in Lewisburg. The store will feature a 30,000-square-foot home center, as well as an attached lawn and garden center and drive-through lumberyard. The store will offer a complete line of building materials, electrical, plumbing, paint, millwork, hardware, tools, and lawn and garden products. Marvin’s currently operates 27 stores in Alabama, Mississippi, Georgia and Tennessee. The Shopping Center Group represented the owner, Hearthstone Properties LLC, in the transaction.
LITTLE ROCK, ARK. — Beech Street Capital has arranged a $9 million Fannie Mae loan for the refinancing of Block 2 Lofts, a 145-unit apartment property in downtown Little Rock. Built between 1921 and 1929, the property was converted to loft-style apartments in 2001. It includes 32,850 square feet of commercial space. Joel Mazur of Beech Street Capital originated the 15-year, fixed-rate loan, which includes a 30-year amortization schedule. The Block 2 Lofts consist of three buildings within blocks of the River Market District. The apartments were designed to attract Little Rock's business professionals.
ROCKVILLE, MD. — Washington Real Estate Investment Trust (WRIT) has sold The Atrium Building, an 80,000-square-foot office building in Rockville, for $15.7 million. The property, built in 1980 and acquired by WRIT in 2002, is located at 6101 Executive Blvd. The buyer plans to relocate its headquarters to the property. WRIT said the sale is consistent with the company's strategy of selling smaller, non-core assets in suburban markets. WRIT achieved a net gain of approximately $3.6 million and an unleveraged internal rate of return of 11 percent over the 10-year holding period.
SPRING HILL AND DAVENPORT, FLA. — Marcus & Millichap has arranged the $4 million sale of Highway 19 Self Storage, a 386-unit self-storage facility in Spring Hill, and Secured Storage, a 320-unit self-storage facility in Davenport. Built in 2000, Highway 19 Self Storage is located at 1000 Commercial Way and includes 41,206 square feet. Secured Storage was built in 1999 and is located at 2825 Jacks Road. Ray Turchi and Christopher Travis of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Dan Burkons and Richard Schontz of Marcus & Millichap represented the buyer, also a limited liability company.
SHELBY TOWNSHIP, MICH. — Arbor Commercial Funding LLC, a wholly owned subsidiary of Arbor Commercial Mortgage LLC, has provided a $10.8 million Fannie Mae loan for the refinancing of Stoney Creek Village Apartments in Shelby Township, a northern suburb of Detroit. The 240-unit multifamily property includes one- and two-bedroom apartments and is located at 56965 Stoney Creek Drive. The 10-year loan includes a 30-year amortization schedule.
FISHERS, IND. — Vista Capital Co. has arranged $7.7 million of financing for the Staybridge Suites in Fishers, a northeast suburb of Indianapolis. The Staybridge Suites is a 146-room, five-story hotel built in 2000 and is located at 978 Crosspoint Blvd. A European-based structured finance group provided the CMBS loan. The 10-year, fixed-rate financing will be used to fund a performance improvement plan in 2015. The financing will also retire an existing loan, while concurrently reducing debt-service payments and providing ownership with an equity recapitalization. This is the second hotel financing Vista has closed in metropolitan Indianapolis within the last four months.