LOS ANGELES — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Rehabilitation Centre of Beverly Hills, a 150-bed skilled nursing facility in Los Angeles. The Rehabilitation Centre of Beverly Hills is a premier, state-of-the-art, all-Medicare nursing facility located near Cedars-Sinai Medical Center, one of the most prestigious hospitals in the United States. A private, high-net-worth owner-operator based in Los Angeles was the buyer. The seller and price were not disclosed.
MORENO VALLEY, CALIF. — Dalfen Industrial has purchased Moreno Valley Logistics Center, an industrial property situated less than three miles from Interstate 215 in Moreno Valley. Terms of the transaction were not released. Moreno Valley Logistics Center features 95,922 square feet of industrial space. The asset is in close proximity to State Route 60 and State Route 91, enabling east-west connectivity including to the Port of Long Beach and Port of Los Angeles.
SANTA BARBARA AND PASADENA, CALIF. — Gantry has secured $20 million in financing for a cross-collateralized, two-property, mixed-asset portfolio in Southern California. The portfolio includes a two-building office asset on State Street in Santa Barbara and a 12,500-square-foot retail property located on Colorado Boulevard in Pasadena. Tenants include Zara in Pasadena and Chase Bank in Santa Barbara. Mark Ritchie, Amit Tyagi and Alicia Sabanero of Gantry’s El Segundo office secured the 15-year permanent loan a private real estate investor. One of Gantry’s regional bank lender relationships provided the capital. The loan has an initial five-year interest-only payment period, followed by 25-year amortization for the remainder of the term.
BANNING, CALIF. — Marcus & Millichap has arranged the sale of Wilson Gardens, a multifamily property located at 5001 and 5059 W. Wilson St. in Banning. An individual/personal trust sold the asset to a private investor for $12.2 million, or $180,147 per unit. Douglas McCauley and David Covarrubias of Marcus & Millichap office represented the seller, while Bruce Rajaee of Marcus & Millichap represented the buyer in the deal. Built in 1972, the building features 68 one- and two-bedroom apartments. Onsite amenities include a swimming pool, garages, laundry facilities and a secured entrance.
LONG BEACH, CALIF. — Tova Capital has purchased a fully occupied retail complex in downtown Long Beach for $6.2 million in an off-market transaction. Located at 205-233 E. Anaheim St., the property features 34,500 square feet of retail space. The asset consists of two 17,000-square-foot single-story buildings that Trademark Brewing and Long Beach Rising, a climbing gym, occupy under long-term leases. Tova Capital plans a long-term hold of the retail property, which is its first investment in Long Beach. Jared Swedelson from NAI Capital represented Tova, while Sheva Hosseinzadeh of Coldwell Banker Commercial BLAIR represented the undisclosed seller in the deal.
SACRAMENTO, CALIF. — Phelan Development has released plans for Elkhorn Industrial Park, a two-building, 284,850-square-foot speculative industrial project within Metro Air Park in Sacramento. Located at 4525 W. Elkhorn Blvd. and 4535 W. Elkhorn Blvd, the park will feature a 190,525-square-foot building and a 94,325-square-foot building. Completion is slated for fall 2023. Mark Demetre and Michael Hoo of Colliers’ Sacramento office are handling leasing for the project.
IRVINE, CALIF. — Griffin Realty Trust has completed the disposition of a creative office property, located at 16752 Armstrong Ave. in Irvine, to Rexford Industrial Realty for $40 million. Griffin originally acquired the asset in October of 2013 for $27.2 million. Fox Head, which Vista Outdoor recently acquired, occupies the entire 82,645-square-foot building. Vista Outdoor is the parent company of more than 40 brands of outdoor apparel and equipment. Situated on 6.5 acres, the property features abundant parking, a BMX track, a skate park, gathering spaces and firepits. The building offers two floors of creative office space, including conference rooms, common areas, abundant natural light, an open floor-to-ceiling lobby area and designated workspaces. Kevin Shannon, Paul Jones, Bret Hardy, Ken White and Brandon White of Newmark represented the seller in the transaction.
LAFAYETTE AND BODEGA BAY, CALIF. — Sonnenblick-Eichner Co. has arranged $26.7 million in non-cross collateralized, fixed-rate, first-mortgage financing for Woodside Hotel Group. The transaction will refinance debt on two hotels — Lafayette Park Hotel & Spa and The Lodge at Bodega Bay — in Northern California. The $15 million loan on Lafayette Park Hotel retired an existing life insurance company loan and provided for more than $4 million of capital to renovate guest rooms. The proceeds from the $11.7 million loan for The Lodge at Bodega Bay paid off an existing bridge loan facility and provided for a return of partnership equity. A life insurance company provided both of the long-term, 10-year, fixed-rate, nonrecourse loans. Located in Lafayette, Lafayette Park Hotel & Spa is a full-service hotel with 138 guest rooms. The Lodge at Bodega Bay in Bodega Bay features 83 guest rooms; Drakes Sonoma Coast, a fine dining restaurant; Fireside Lounge, a 6,285-square-foot indoor and outdoor meeting space; and Sonoma Coast Spa and Fitness Center. Woodside Hotel Group owns and operates both properties as part of the Woodside Collection.
SIMI VALLEY, CALIF. — Woodland Hills, Calif.-based Toibb Enterprises has completed the disposition of Simi Valley Promenade, a retail center located at 5105-5197 E. Los Angeles Ave. in Simi Valley. A Chino Hills-based private investor acquired the asset for $19.5 million. Smart & Final, Goodwill, Del Taco, Denny’s, Baskin Robbins, Chi Chi’s Pizza and H&R Block are tenants at the 82,366-square-foot Simi Valley Promenade, which was built in 1981 and most recently renovated in 2002. At the time of sale, the property was 92 percent occupied. Bill Ashe, Jeff Lefko and Ed Hanley of Hanley Investment Group represented the buyer, while Avi Narang of Beverly Hills-based BRC Advisors represented the seller in the deal.
LA MESA, CALIF. — KeyBank Community Development Lending and Investment (CDLI) has provided a $31.9 million construction loan and a $10.9 million bridge loan to USA Properties Fund for the construction of an affordable housing community in La Mesa. Jeremiah Drake and Keven Ruf of KeyBank structured the financing. The property, 8181 Allison Apartments, will feature 147 one- and two-bedroom residences that meet income restriction requirements of 30 percent, 50 percent and 70 percent or less of the area median income. Onsite amenities will include social services to assist in income, employment and stabilization. The property will also include a two-bedroom, non-revenue manager unit. Additional funding included a $25.3 million federal low-income housing tax credit provided by WNC and $7 million in subsidy financing and $20.7 million in permanent financing from the California Housing Financing Agency Mixed Income Program. The City of San Diego provided a cost-free lease of the land for 65 years, valued at $6.6 million.