MESA, ARIZ. – The 576-unit Aventerra at Dobson Ranch in Mesa has sold to Summit Aventerra LLC, an affiliated company of Summit Equity Investments Inc., for $29.1 million. The complex was built in 1980 and is currently 87 percent occupied. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Peter Stevens represented the seller, LNR Partners LLC, which acted as the special servicer after it retained the title to the property following a September 2010 foreclosure.
CONCORD, CALIF. — WestcoreProperties has purchased the Concord Corporate Centre in Concord for an undisclosed sum. The Class A office campus contains 346,747 square feet located at 1320 and 1390 Willow Pass Road in Concord. The facility was originally built in 1984 and renovated in 2002. Westcore was represented by Ryan Huddlestun and Jim Blessing of Waveland Financial. Tom Fehr of Cornish and Carey Commercial will continue to be responsible for leasing at the property.
LOUISVILLE, COLO. – The 46-unit Balfour Cherrywood Village Memory Care facility in Louisville has received one of the nation’s first Fannie Mae DUS ARM 7-6 loans for $5,620,700. The non-recourse loan was provided to Balfour Senior Living by Red Mortgage Capital.
LOS ANGELES – The 95-room Holiday Inn Express Los Angeles Downtown West has reopened after undergoing a $1.25-million renovation. The renovation, which was undertaken after InterContinental Hotels Group converted the property from a Ramada Limited hotel,included upgrades to the guest rooms and exteriors. It is part of the new $1-billion Holiday Inn relaunch that IHG announced in 2007.
CHANTILLY, VA., AND LANDOVER, MD. — Rockville, Md.-based Washington Real Estate Investment Trust has sold the remaining two properties in its industrial portfolio, the 324,412-square-foot Dulles Business Park in Chantilly and the 150,000-square-foot 6100 Columbia Park Road in Landover, for $70.6 million. The buyer of the portfolio was a joint venture between AREA Property Partners and the Adler Group. The sale proceeds of the full portfolio total $350 million.
SANDY SPRINGS, GA. — A joint venture between Tribridge Residential and Stockbridge Capital Group has purchased the 298-unit Century Perimeter Park, located at 6210 Peachtree Dunwoody Rd. in Sandy Springs, from Centennial Holding Co. for $39.7 million. The property is located in the Perimeter Center submarket of Atlanta. Derrick Bloom, David Gutting, Vince Lefler and Porter Jones of Jones Lang LaSalle's Atlanta office represented the seller in the transaction.
WINTER PARK, FLA. — The $9.1 million, 38,000-square-foot Winter Park Community Center, located at 721 W. New England Ave. in Winter Park, has opened. SchenkelShultz Architecture, along with design-build partner Turner Construction Co., designed the center to achieve LEED Silver certification. Included in the building is ballroom and banquet space, a commercial-grade kitchen, fitness center, media center, senior center, an outdoor stage, two basketball courts and a swimming pool.
KISSIMMEE, FLA. — Hardin Construction has topped off the 300-unit Embassy Suites Orlando – Lake Buena Vista South, located at 4955 Kyng's Heath Rd. in Kissimmee. Helman Hurley Charvat Peacock Architects is the architect of record for the project, which is slated for completion in the fall of 2012.
TALLADEGA, ALA. — Walker & Dunlop has arranged a $7.8 million loan through HUD's Section 223(a)(7) Streamline Refinance Program for the 234-bed Talladega Healthcare Center, located at 616 Chaffee St. in Talladega. Jay Healy of Walker & Dunlop's Atlanta office secured the 30-year fully amortizing loan.
WEST CHESTER, OHIO — Liberty Towne Center, a 22,798-square-foot shopping center in West Chester, Ohio, has sold for $1.3 million. Located at 7206-7240 Towne Center Dr., the center was 60 percent occupied at the time of sale. Rob Taylor and Mike Sullivan of Cassidy Turley's Ohio office represented the seller, Dawn BV LLC. The buyer was a local family trust.