REBusinessOnline

Brue Baukol Capital Breaks Ground on 36-Acre Mixed-Use Community in Centennial, Colorado

CENTENNIAL, COLO. — Colorado-based Brue Baukol Capital Partners has broken ground on The District, a 36-acre mixed-use community adjacent to the Dry Creek rail station in Centennial.The walkable community will feature more than 2.5 million square feet of office space, a 200-key hotel, 1,800 residential units and over 30,000 square feet of retail space. Previously named the Jones District before rebranding to The District, the development will offer space for a range of flexible office …

AHV Communities Expands into Seattle Market with Duvall Village Apartment Development

DUVALL, WASH. — AHV Communities is developing Duvall Village, its first multifamily community in the Seattle market. Located in the northeastern suburb of Duvall, the property will include 99 three-story townhomes designed in cottage and farmhouse styles.Milbrant Architects designed the community, which offers two-, three- and four-bedroom layouts with 2.5 to 3.5 baths, two-car garages and private fenced yards. Units will feature quartz countertops, stainless steel energy-efficient …

Davenport Partners Buys Office Building in Corona, California for $6.9M

CORONA, CALIF. — Davenport Partners has purchased 1101 California Avenue, a two-story office property located at the corner of California and Rimpau avenues in Corona. An undisclosed seller sold the asset for $6.9 million.Built in 1990, the 40,000-square-foot property was 91 percent leased at the time of

Avison Young Brokers $6M Sale of Single-Tenant Retail Property in West Linn, Oregon

WEST LINN, ORE. — Avison Young has arranged the sale of a single-tenant retail building located at 1855 Blankenship Road in West Linn. A Portland.-based private investor acquired the property for $6 million from a court-appointed receiver.Parkrose Hardware occupies the 47,451-square-foot property, which is the anchor tenant to River Falls Plaza, on a 10-year, long-term lease.Chris Maling and David Maling of Avison Young, along with Denis O’Neill of Colliers International, …

Ready Capital Closes $3.8M in Bridge-to-Freddie Mac Financing for Multifamily Property in Tucson

TUCSON, ARIZ. — Ready Capital has closed $3.8 million in bridge-to-Freddie Mac agency financing for the acquisition, renovation and stabilization of a 56-unit apartment property located in Tucson’s Acaso submarket.Upon acquisition, the undisclosed sponsor will implement a capital improvement plan to upgrade the asset’s interior and exterior.The non-recourse, floating-rate loan features a 24-month term, two extension options and flexible prepayment. It is inclusive of a facility to …

Ready Capital Closes $104M Refinancing for Multifamily Property in San Francisco

SAN FRANCISCO — Ready Capital has closed $104 million in refinancing for a multifamily property located on the border of San Francisco’s SOMA and Mission districts. The name of the borrower was not released.Loan proceeds will be used to retire existing debt and cover interest costs as the 200-unit property is leased up. The non-recourse, interest-only, floating-rate loan features a 36-month term, two extension options, flexible prepayment and is inclusive of a facility to provide future …

TA Realty Sells Fremont Research Center in California to Kennedy Wilson for $32.3M

FREMONT, CALIF. — TA Realty has completed the sale of Fremont Research Center, a two-building portfolio in Fremont, to Kennedy Wilson Fund VI for $32.3 million.Located at 47200 Bayside Parkway and 3500 W. Warren Ave., the portfolio offers a total of 115,537 square feet of office, research and life sciences space. At the time of sale, the property was fully leased to two life sciences and aerospace defense users.Intuity Medical, a medical device company, occupies the 61,824-square-foot …

Sterling Real Estate Expands Arizona Portfolio with Pennytree Apartment Acquisition in Mesa

MESA, ARIZ. — Scottsdale-based Sterling Real Estate Partners has acquired Pennytree Apartments, a multifamily property at 232 S. MacDonald in Mesa. Terms of the transaction were not released.Built in the 1960s, Pennytree Apartments features 146 residences and is less than a mile from a number of eateries, breweries and local retail options in downtown Mesa.Ric Holway, Dan Cheyne and Luke Donahue of Berkadia handled the transaction, which is Sterling Real Estate’s 10th transaction in …

Black Lion Investment Divests of Cheyenne Plaza in Las Vegas for $6.5M

LAS VEGAS — An affiliate of Black Lion Investment Group has completed the disposition of Cheyenne Plaza, located at the intersection of Cheyenne Avenue and Jones Boulevard in Las Vegas.The $6.5 million sale of the remaining 18,615 square feet of retail space was the culmination of Black Lion’s renovation and full lease-up of the property. The name of the buyer was not released.Current tenants include Cricket Wireless, Dotty’s sports bar, Aria Nails, La Michoacana Plus ice cream, 7 …

BridgeCore Capital Funds $8.2M Refinancing for Industrial Building in Chino, California

CHINO, CALIF. — BridgeCore Capital has funded a $8.2 million loan for the refinancing of an industrial property in Chino. The undisclosed borrower required a bridge loan to refinance a maturing loan and to fund a partnership buy-out.The non-recourse loan features a 6.5 percent pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off without compounding. The pay-rate structure allowed the borrower to decrease the amount of the interest reserve in order to …

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