REBusinessOnline

Geolo Capital Sells 160-Acre Ventana Big Sur Resort in California for $148M

BIG SUR, CALIF. — Geolo Capital and its joint venture partner Wanxiang America Real Estate have sold Ventana Big Sur Resort, an Alila Resort in Big Sur. The buyer, an affiliate of the Hyatt Hotels Corp., bought the 160-acre property for $148 million. Geolo, which is the private equity investment arm of the John Pritzker family office, claims the $2.5 million-per-room price is a record for a North American resort.Built in 1975, Ventana Big Sur Resort is a 59-room property. Geolo Capital …

Eastern Real Estate, Atlas Capital Acquire 466,000 SF Eagle Rock Plaza in Los Angeles

LOS ANGELES — Eastern Real Estate and Atlas Capital Group have purchased Eagle Rock Plaza, a regional shopping center at the intersection of Glendale and Ventura freeways in Los Angeles’ Eagle Rock neighborhood.Situated on 22 acres, the property features 466,000 square feet of retail space. Current anchor tenants include Target, Macy’s, Seafood City and Fitness 19.Bill Bauman and Kyle Miller of Newmark Capital Markets represented the undisclosed seller in the deal. The acquisition …

Progressive Real Estate Negotiates $6M Sale of Rancho Car Wash Property in Temecula, California

TEMECULA, CALIF. — Progressive Real Estate Partners has arranged the sale of a Rancho Car Wash-occupied retail asset located at 27378 Jefferson Ave. in Temecula. The property traded hands for $6 million.Victor Buendia of Progressive Real Estate Partners represented the buyer and seller, both of which are Los Angeles County-based private investors, in the transaction.Established in 1988, Rancho Car Wash offers full-service hand car washes, auto detailing services and an oil and lube …

Ziegler Arranges $297M Financing for Ensō Village Seniors Housing Development in Sonoma County

HEALDSBURG, CALIF. — Ziegler has arranged $297 million in bond financing for the development of Ensō Village, a continuing care retirement community in the Sonoma County city of Healdsburg.The borrower is Kendal Corp., which is developing the property. The California Public Finance Authority issued the tax-exempt bonds.Ensō Village is located on approximately 16 acres and will feature 221 independent living apartments, 30 assisted living apartments and 24 memory support apartments. …

Bridge Partners Buys Harvest at Fiddyment Ranch Apartments in Roseville, California for $111M

ROSEVILLE, CALIF. — Bridge Partners has purchased Harvest at Fiddyment Ranch, a multifamily community located in Roseville, from Roseville-based USA Properties Fund for $111 million.Located at 1900 Blue Oaks Blvd. within the Fiddyment Ranch master-planned community, the 300-unit property was 97 percent leased at the time of sale. The community offers a mix of one-, two- and three-bedroom apartments, ranging from 771 square feet to 1,258 square feet. Community amenities include a clubhouse …

MIG Expands Portfolio with Four Acquisitions Across Arizona, California

MESA, PHOENIX AND SEDONA, ARIZ., AND OCEANSIDE, CALIF. — Newport Beach, Calif.-based MIG Real Estate has purchased four properties to expand its portfolio in Arizona and California.The properties are:Gateway Technology Commerce Center, a 138,692-square-foot industrial property at 7535 E. Ray Road in Mesa. The property is fully leased to six tenants. Steve Lindley, Eric Wichterman and Will Strong of Cushman & Wakefield represented the undisclosed seller, while Ken McQueen and …

Lee & Associates Brokers 155,000 SF Long-Term Lease for M2 Ingredients in Vista, California

VISTA, CALIF. — Lee & Associates has arranged a long-term lease for M2 Ingredients to occupy a single-tenant industrial building located at 1395 Park Center Drive in Vista. The lease is valued at $20.5 million.The 150,000-square-foot building features 20,000 square feet of office space, four dock-high doors, eight grade-level doors and 135,000 square feet of warehouse space with 4,000 amps 277/480-volt power.M2 Ingredients was founded in 2010 and is a producer of certified …

Westcore Buys Two Distribution Warehouses in California from Kimco Realty for $108M

LANCASTER AND WOODLAND, CALIF. — Westcore has acquired a two-property industrial portfolio, totaling more than 1.4 million square feet of space, located at 2801 West Ave. H in Lancaster and 1755 E. Beamer St. in Woodland. Kimco Realty Corp. sold the portfolio for $108 million.Rite Aid occupies both distribution warehouses on 20-year leases. The Lancaster facility features 926,860 square feet and the Woodland property offers 508,000 square feet.Darla Long, Barbara Emmons and Rebecca …

JLL Capital Markets Arranges $24.5M Loan for Cielo Apartments in Downtown San Diego

SAN DIEGO — JLL Capital Markets has secured $24.5 million in financing for Cielo, a Class A multifamily property located in San Diego’s Little Italy neighborhood.The borrower, Built Development, acquired the land in 2014 and broke ground in 2018 for the project, which was completed in January. Loan proceeds will be used to pay off the borrower’s existing construction loan and provide cash.Located at 915 W. Grape St., the eight-story, 63,500-square-foot property features studio, …

Alere Property Starts Construction of 211,000 SF Industrial Warehouse in Western Inland Empire

ONTARIO, CALIF. — Alere Property Group is developing a speculative industrial facility located on 9.3 acres at 1656 S. Cucamonga Ave. in Ontario.With construction underway, the 211,000-square-foot property will feature 40-foot clear heights; a 5,000-square-foot, two-story office space; 23 dock-high doors; two ground-level doors; and a 185-foot truck court with extra trailer parking. Completion is slated for third-quarter 2021.Additionally, Alere Property acquired two industrial …

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