SALEM, ORE. — Investors Capital Group has completed the disposition of Fruitland Meadow, an apartment property located at 5192 Caplinger Road SE in Salem, to a private buyer for $32 million. Situated on 8.1 acres, Fruitland Meadows offers 168 studio, one-, two- and three-bedroom apartments. Josh McDonald and Joe Nydahl CBRE represented the seller in the transaction.
GLENDALE, ARIZ. — JLL Capital Markets has arranged the sale of Inspira Arrowhead, a seniors housing property in Glendale. A fund managed by affiliates of Fortress Investment Group sold the asset to a confidential buyer for an undisclosed price. JLL’s Senior Housing Capital Markets team represented the seller and procured the buyer in the deal. The firm also arranged nonrecourse acquisition financing for the buyer through a regional bank. Cogir Senior Living has been retained by the buyer to continue operations at the property. Situated on 14.2 acres at 20240 N. 78th Ave., Inspira Arrowhead features 165 independent living, assisted living and memory care units. Onsite amenities include various dining options, a theater, fitness center, pool, salon, barbershop, dog park, social outings and bocce ball.
PORTLAND, ORE. — Ostling Group has completed the $22.3 million sale of Riverside Industrial Park, a two-building industrial park in Portland. Brett Hartzell, Charles Safely and Chris Reeves of CBRE National Partners, along with Eleanor Aschoff of CBRE, represented the seller in the deal. The name of the buyer was not released. Located at 13422-13444 and 13609-13625 N.E. Jarrett St., the two buildings offer a total of 129,142 square feet. The buildings feature 20-foot to 24-foot clear heights, truck access, 28 dock-high doors and 16 grade-level doors. At the time of sale, the asset was 29 percent occupied by eight tenants in logistics, constriction supply, retail and manufacturing/fabrication industries.
SPANISH FORK, UTAH — Newmark Mountain West has arranged the sale of a Class A warehouse and manufacturing property in Spanish Fork. The Boyer Co. sold the 212,685-square-foot asset to Arizona-based Cowley Cos. for an undisclosed price.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Scottsdale Airpark Corporate Center, a two-building flex office and industrial property in Scottsdale. CEJ Scottsdale Airpark Corporate Center LLC sold the asset to SACC LLC for $13 million. Located at 15020 and 15030 N. Hayden Road, Scottsdale Airpark Corporate Center features 58,438 square feet of space that is occupied by Pillar Church, Copycats Printing and Vogel Prep. The property was built in 1985. Michael Kitlica, Tracy Cartledge and Robert Buckley of Cushman & Wakefield brokered the sale.
THOUSAND OAKS, CALIF. — Newmark Pacific has negotiated the $45.5 million sale of Conejo Valley Plaza, a 127,032-square-foot shopping center located in Thousand Oaks, approximately 38 miles west of Los Angeles. A Ralphs grocery store and Bank of America anchor the center, which was 68 percent leased at the time of sale. Additional tenants include Marshalls, HomeGoods and CVS Pharmacy. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark Pacific represented the sellers, two entities doing business as Conejo Valley Plaza 1 LLC and Conejo Valley Plaza 2 LLC, in the transaction.
PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has received refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture. Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property include a bistro, fitness center, heated swimming pool, jacuzzi spa, putting greens, a movie theater, salon and spa, landscaped outdoor spaces and a full-service bar.
CHULA VISTA, CALIF. — UTEX Storage Partners has obtained $23.4 million in nonrecourse construction financing for Chula Vista Storage, a to-be-built self-storage facility in Chula Vista. Brian Somoza led the JLL team in arranging the four-year, floating-rate loan through a life insurance company. Upon delivery in 2016, Chula Vista Storage will offer 123,582 square feet of storage space within two three-story buildings. The facility will feature an on-site office, security, a 24-hour surveillance system, controlled access, climate-controlled units and boat/RV storage. The property is located on 9.3 acres near the intersection of South Bay Expressway and Eastlake Drive, approximately 12 miles southeast of downtown San Diego. A REIT third-party management platform will operate and manage the property.
SALT LAKE CITY — Cowboy Partners, with MVE + Partners as architect, has broken ground on Liberty Corner, an affordable housing property in Salt Lake City. The 387,857-square-foot, ground-up community will feature 200 apartments. Salt Lake City-based Cowboy Partners is a multifamily and mixed-use developer.
MURIETTA, CALIF. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renaissance Village Murietta, an assisted living and memory care community located in Murietta. Built in 2016 and 2018, the property totals 142 units. Renaissance Village Murietta was the only seniors housing asset owned by the undisclosed seller, which is exiting the sector. A REIT was the buyer. Brad Goodsell, Jason Punzel and Vince Viverito of SLIB brokered the transaction.
