LOS ANGELES — Capital Foresight has received a $23.8-million acquisition loan to purchase the 132-unit Santa Fe Lofts in Downtown Los Angeles. The total purchase price for the apartment community was $35 million. The seller was The Kor Group. The loan features an interest rate of 2.5 percent with two years of interest-only. It was arranged by Brian Eisendrath with CBRE’s Debt and Equity Finance group through Fannie Mae.
Property Type
CHANDLER, ARIZ. – Chandler Corporate Center, a 67,500-square-foot, Class A office building, has received $6.4 million in acquisition financing. The building is fully occupied by three tenants. Financing was arranged by Tim Storey and George Mitsanas of Newmark Realty Capital through a life insurance company.
FARFIELD, CALIF. – An 8,996-square-foot building in Farfield that is net leased to Beverages & More (BevMo!) has sold to a private investor for $3.1 million. It is located at 1545 Holiday Lane. The buyer was represented by Jacob Levy of Marcus & Millichap’s San Francisco office.
BEVERLY HILLS, CALIF. – A 120,000-square-foot, Class A office building that resides within the Golden Triangle of Beverly Hills has sold to Clarion Partners for $80 million. The Golden Triangle is a high-end retail, dining and hospitality district. The fully occupied building is located at 100 N. Crescent Drive.
LOS ANGELES – A 151,029-square-foot, Class A entertainment office complex known as Tribeca West has sold to Kilroy Realty Corp. for $73 million. The property is located at 12233 W. Olympic Blvd. in Los Angeles. It is 97 percent leased. Notable tenants include Disney, HBO & NBC studios. Bob Safai of Madison Partners represented both the buyer and the seller, Ocean West Capital Partners, in this transaction.
HOLLYWOOD, CALIF. – The 56-unit El Royale apartment community in Hollywood has sold for $29.5 million. The community is located at 450 North Rossmore Ave. It was originally built in 1929. The buyer’s acquisition team included Kamran Hakim, a developer and investor, and Farhad Eshaghpour, a real estate professional. The seller, a family trust that had owned El Royale for more than 50 years, was represented by Ron Harris, Stewart I. Weston and Joseph Smolen of Institutional Property Advisors.
SANTA ANA, CALIF. – A 20,556-square-foot industrial buildingin Santa Ana has sold to Wendy Chai for $2.06 million. It is located at 1513 E. Saint Gertrude. Chai was represented by Matthew Christianson of Jones Lang LaSalle. The seller, Vincent Servin, was represented by John Collins and Kevin Thomas of Lee & Associates’ Newport Beach office.
POOLER, GA. — Atlanta-based Ben Carter Enterprises plans to break ground on a $200 million, 560,000-square-foot luxury outlet mall in Pooler, a Savannah, Ga. suburb, next spring. The Outlet Mall of Georgia projects to open in the summer of 2014 with four anchor retailers on a 170-acre site that offers space for more retail and hotel construction. Savannah-based Kern-Coleman & Co., an engineering and architectural firm, is working on The Outlet Mall of Georgia with Ben Carter Enterprises.
WOODSTOCK, GA. — Northside Cherokee Towne Lake Medical Office Building broke ground recently at 900 Towne Lake Pkwy. in Woodstock, approximately 25 miles north of Atlanta. Northside Hospital will lease the entire four-story, 100,817-square-foot medical office building that will house outpatient healthcare services and physician practices. Indianapolis-based Duke Realty is developing the medical office building as well as a three-story, 350-space parking garage that will complement surface parking spaces. Duke Realty Towne Lake Development LLC, a wholly owned entity of Duke Realty LP, will own the medical office building when completed in August 2013. Lyman Davidson Dooley Inc. is the project architect and Brasfield & Gorrie is the general contractor.
CHALMETTE, LA. — St. Bernard Parish Hospital, the first full-service hospital built in greater New Orleans since Hurricane Katrina seven years ago, opened recently. The $91 million, three-story, 113,300-square-foot, 40-bed hospital and a three-story, 69,000-square-foot medical office building are located at 800 W. Judge Perez Dr. in Chalmette, five miles southeast of downtown New Orleans. St. Bernard Parish Hospital Service District (HSD) owns both facilities and Brookfield, Wis.-based Hammes Co. is the program manager for the publicly owned hospital that includes a 10-bed intensive care unit. The medical office building houses physician suites, outpatient rehabilitation and administrative offices. The facilities are located on an 11.5-acre site donated by Arlene and Joseph Meraux Charitable Foundation. The HSD has an option on another eight-acre donation from the foundation.