WEST COVINA, CALIF. — Advanced Real Estate has acquired The Cove at West Covina, an apartment property located at 1829 E. Workman Ave. in West Covina, for $41 million. The buyer assumed a $21 million Freddie Mac loan with a fixed interest rate of 4.75 percent and full-term interest-only payments. Additional terms of the transaction were not released. The gated community features 138 apartments, two polos with cabanas, a fitness center, fire pits, garages and a large open landscaped area. Advanced plans to upgrade the property with the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. Advance’s in-house construction company, R3 Construction, and in-house management company, Advanced Management Co., will complete the upgrades. Shane Shafer, previously of Northmarq and now with Colliers, brokered the deal.
MOUNTAIN VIEW, CALIF. — The Swig Co. has completed the disposition of 399 El Camino Real, a vacant office building in Mountain View, to an undisclosed owner/user in an off-market transaction. Christine Slonek of Newmark advised the seller and the buyer. Located at 399 W. El Camino, the three-story office building features 29,500 square feet of office space. The Swig Co. acquired the property in 2007, and it was 100 percent occupied until 2023. Under its ownership, The Swig Co. designed and installed drought-tolerant landscaping, upgraded existing amenities and added electric vehicle charging stations.
SAN DIEGO — Saca Capital has obtained a $91 million financing package from Rialto-Hines for One America Plaza, a Class A office tower at 600 W. Broadway in downtown San Diego. Saca Capital acquired the 34-story, 630,000-square-foot office tower from Irvine Co. Rob Rubano, J.P. LeVeque, Ernesto Sanchez and Lars Weston of Cushman & Wakefield represented the borrower in the financing.
CITY OF INDUSTRY, CALIF. — Bridge Logistics Properties has acquired San Jose 2-Pack, a two-building, 450,000-square-foot industrial portfolio in City of Industry within Los Angeles’ San Gabriel Valley submarket. Terms of the transaction were not disclosed. The fully leased complex includes a 250,000-square-foot facility and a 200,000-square-foot facility. Patrick Nally, Evan Moran, Ryan Spradling, Makenna Peter and Rustin Mork of JLL represented the undisclosed seller in the the transaction.
SAN JUAN CAPISTRANO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $9.2 million sale of Rancho Ortega Plaza, a 23,122-square-foot retail strip center located in San Juan Capistrano, roughly 55 miles south of Los Angeles. Starbucks Coffee anchors the two-story property, which was 89 percent leased at the time of sale. Other tenants include Tannins Wine Bar & Restaurant, Bella Nails and Ortega Dental Care. Rancho Ortega Plaza was built in 2004 on 2.2 acres. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller, an Orange County, Calif.-based private investor. Michael Asarch of Asarch Commercial Endeavors represented the buyer, a Los Angeles-based private investor, in the transaction.
RIALTO, CALIF. — NewMark Merrill Cos. has sold Rialto Village, a 92,000-square-foot shopping center located in the Inland Empire city of Rialto. NewMark Merrill, which developed and constructed the center, will continue to manage the property on behalf of the buyer, Langdon Street Capital. Chris Renard of Commercial Realty Consultants arranged acquisition financing for the deal. Reza Etedali, Ramez Barsoum and Aaron Bettencourt of REZA Investment Group represented NewMark Merrill and Langdon Street Capital, while Sandy Sigal, James Patton, Brad Pearl and Sandra Kist of NewMark Merrill oversaw the transaction. Sprouts Farmers Market anchors Rialto Village, which was fully leased at the time of sale. Other tenants at the property include Burlington, Ulta Beauty, Five Below, In-N-Out Burger, Coffee Bean, Cold Stone Creamery, Nekter Juice Bar, Sharetea, The Joint Chiropractic, Ahipoki Bowl, Arrowhead Credit Union, Taquería 2 Potrillos and Mattress Firm.
SANTA BARBARA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a three-story medical office building in downtown Santa Barbara. Greenbridge Investment Partners, led by Sean Hashem and Fareed Kanani, doing business as Greenbridge Medical Center LLC, sold the asset to a California-based corporation for $21.3 million, or $970 per square foot. University of California Los Angeles (UCLA) occupies the 21,970-square-foot property on a triple-net lease. Built in 2007 and renovated in 2023, the building is home to UCLA Health Santa Barbara’s oncology, primary and specialty care services, including internal medicine, family medicine and rheumatology. Building amenities include ground-level parking, patios throughout and a rooftop terrace. Mark DeGiorgio, Tom Lagos and Andrew Defends of IPA represented the seller in the deal.
SAN DIEGO — San Diego-based Jack in the Box has entered into a definitive agreement to sell Del Taco Holdings, a wholly owned subsidiary of the company which operates and franchises more than 550 Del Taco restaurants, to Yadav Enterprises for $115 million. Yadav Enterprises operates more than 310 franchise restaurants, including Jack in the Box, Denny’s and TGI Friday’s. Yadav Enterprises also owns the Taco Cabana brand, a fast-casual, Tex-Mex restaurant chain consisting of 150 locations, and Nick the Greek, a fast-casual, Greek restaurant chain consisting of 90 locations. The transaction is expected to close by January 2026. The company expects to use the net cash proceeds after taxes and transaction costs to retire debt within its securitization structure. In line with the company’s “Jack on Track” plan announced in April, the sale of Del Taco allows for the strengthening of the company’s balance sheet and initiates the return of Jack in the Box to a “simpler, asset-light business model,” according to a release. BofA Securities Inc. is serving as exclusive financial advisor to Jack in the Box and Sullivan & Cromwell LLP is serving as its legal counsel in the transaction. Yadav Enterprises is represented by its general counsel, Steven …
Priority Capital Advisory Arranges $28M Construction Loan for Apartment Property in West Los Angeles
LOS ANGELES — Priority Capital Advisory has arranged a $28 million loan on behalf of CityPads, a private equity fund manager and multifamily developer with operations based in Chicago and Los Angeles. The senior debt financing will be used for the development of a 92-unit multifamily property located at 8931-8945 Helms Place in West Los Angeles. Zachary Streit of Priority Capital Advisory, along with Lucas Borges of JLL, arranged the loan. The property will feature 38 studio units (33 market rate and five affordable), 53 one-bedroom units (47 market rate, six affordable) and one affordable three-bedroom unit. Building amenities will include coworking space and a lounge, private patios, onsite parking, 9- to 10-foot ceilings and a fully built-out roof deck with 360-degree views. Construction is underway for the project, which is slated for completion in late 2026.
LARKSPUR, CALIF. — Wareham Development Corp. has completed the sale of Bon Air Medical Center, a medical outpatient building in Larkspur, to Anchor Health Properties for $24 million. Situated on 3.6 acres at 18 Bon Air Road, Bon Air Medical Center features 27,297 square feet of multi-speciality medical outpatient space. The two single-story buildings are fully leased to MarinHealth and offer a variety of services, including cardiovascular medicine, orthopedics, imaging and spinal care. Evan Kovac, Andrew Milne, John Chun, Matt DiCesare, Anthony Sardo, Erik Hanson and Rob Hielscher of JLL represented the seller in the deal.