CITRUS HEIGHTS, CALIF. – The 124-unit Antelope Woods Apartments in Citrus Heights has received $7,260,000 in financing. The refinance loan includes a seven-year term and a 30-year amortization under Fannie Mae’s Early Rate Lock Program. It was written to a 75 percent loan-to-value with a 1.43x debt-service coverage ratio. The property was built in 1986 and is situated on more than five acres. Financing was provided by Jeff Burns and Verne L. Murray of Walker & Dunlop. The loan was originated by Ron Peters of Preferred Capital Advisors.
SANTA MONICA, CALIF. — A six-unit apartment building located at 1247 Berkeley Street in Santa Monica has sold to a private investor for $1,975,000. The community was built in 1961 and contains 8,990 rentable square feet. The buyer was represented by Robert Narchi of Marcus & Millichap’s West Los Angeles office. The seller, also a private investor, was represented by Tony Azzi from the same office.
SAN JOSE, CALIF. — Flextronics International USA has leased 130,455 square feet of Class A office space at the new America Center campus in North San Jose. This will allow the electronics manufacturing services provider to expand its U.S. headquarters, which is currently based in nearby Milpitas. The firm will occupy more than half of the six-story, 213,800-square-foot building, which is located at 6201 America Center Drive. Flextronics was represented by Dan Hollingsworth, Tom McGovern, Steve Pace and Karen Sigl with Cassidy Turley in this transaction.
SHERMAN OAKS, CALIF. – An office building commonly known as the “Wallace Library” along the Ventura Boulevard corridor in Sherman Oaks has been leased by a private record label. The 2,500-square-foot boutique office building is located at 15464 Ventura Blvd. It is named after Randall Wallace, a legendary producer and director who worked on “Braveheart,” “We Were Soldiers” and “Secretariat.” Wallace, the trustee of the Randall Wallace Family Trust, was represented by Ash Joshi of Capital Realty Solutions in this lease transaction.
ATLANTA — Atlanta-based Tempo Properties has sold the 1,188-unit Tempo Portfolio, which includes 12 properties located on Buford Highway NE and Lenox Road NE in Atlanta, for $35.75 million. Included in the properties are the 135-unit Cabana Apartments; the 64-unit Cross Keys Apartments; the 154-unit Hallmark Apartments; the 111-unit Parkway Apartments; the 128-unit Tempo 2000 Apartments; the 158-unit Continental Apartments; the 135-unit Dover Station Apartments; the 72-unit Majestic I; the 62-unit Majestic II; the 60-unit Monaco Apartments; and the 108-unit Montego Apartments. Paul Vetter and Andrew Mays of Marcus & Millichap's Atlanta office represented the seller in the transaction and procured the buyer, a Yakina, Wash.-based national real estate company.
ATLANTA — Atlanta-based Cousins Properties has plans to repurpose 170,000 square feet of office space into data center space at the 1 million-square-foot American Cancer Society Center, located at 250 Williams St. in Atlanta. Cousins has entered into a relationship with Colliers Technology Solutions to lease the space. John Portman & Associates designed the building, which was the headquarters for the 1996 Olympic Games.
ALEXANDRIA, LA. — The 106-unit Econo Lodge Inn & Suites, located at 2716 N. MacArthur Dr. in Alexandria, has sold for an undisclosed price. Bryan Blanchard and Randy Lee of The Mumford Co.'s Dallas office represented the seller, Triad Hospitality, in the transaction. The buyer was Neptune Lodging Partners.
BIRMINGHAM, ALA. — Graham & Co. has negotiated the $2.45 million sale of a 45,000-square-foot industrial property, located at 350 Industrial Dr. in Birmingham. Ogden Deaton of Graham & Co.'s Birmingham office represented Prime Properties of Alabama, the buyer, in the transaction. SCP 350 Industrial LLC was the seller.
MAITLAND, FLA. — ActivEngage has signed a 30,000-square-foot lease at Maitland West II, located at 2701 Maitland Center Pkwy. in Maitland. Tiffany Zullo of Maitland-based Tower Realty Partners represented the landlord in the lease transaction. The tenant was self-represented.
COLUMBUS, OHIO — Morris, Smith & Fehy (MS&F) Inc. has arranged a $4.5 million first mortgage loan for a 63,744-square-foot industrial building in Ohio. The property is fully leased to Ferro Corp., a producer of specialty materials and chemicals, which are sold to a range of manufacturers. The 15-year loan has a 15-year amortization schedule. Jeff Morris of MS&F's Columbus office originated the loan on behalf of Davis Development Group.