THOUSAND OAKS, CALIF. — Berkadia has brokered the sale of YOLO East, an apartment community in Thousand Oaks. California-based NUWI Capital sold the property to an undisclosed buyer for $22.6 million, or $502,222 per unit. Located at 1801 Los Feliz Drive, YOLO East features 45 apartments in a mix of one- and two-bedroom layouts, ranging in size from 748 square feet to 1,219 square feet. Units offer high ceilings, great rooms, gourmet kitchens with quartz countertops, stainless steel appliances, in-unit washers/dryers, and balconies or patios. Community amenities include a courtyard gathering area, barbecue area with seating, pool and community room. The property was built in 2019. Adrienne Barr of Berkadia Los Angeles represented the seller in the transaction.
AGOURA HILLS, CALIF. — Adler Realty has completed the sale of an office and R&D complex located at 30601 Agoura Road in Agoura Hills. Harbor Realty acquired the asset for $19.3 million. Jay Rubin and Jared Smits of Lee & Associates – LA North/Ventura represented the seller, while Mark Perry of CBRE represented the buyer in the deal. At the time of sale, the 118,864-square-foot building was 58 percent occupied. The facility includes a solar power plant.
SAN DIEGO — SRS Real Estate Partners has arranged the sale of single-tenant retail building located at 9420 Scranton Road in San Diego. A Southern California-based retail property owner and operator sold the asset to a Southern California-based family partnership for $8.1 million in an all-cash transaction. Planet Fitness occupies the 17,000-square-foot building, which was built in 1986 and renovated in 2020. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease group represented the seller and buyer in the deal.
OXNARD, CALIF. — JLL Capital Markets has arranged $69.7 million in acquisition financing for The Vines at Riverpark, a two-story attached townhome community in Oxnard. JLL represented the borrower, Interstate Equities Corp., to secure a two-year, floating-rate loan through Prime Finance with four one-year extension options. Located at 3040 N. Oxnard Blvd., The Vines at Riverpark features 164 two- and three-bedroom townhomes with an average size of 1,369 square feet. Units offer private two-car garages, full-size washers/dryers, separate water heaters, central air and heat, front porches or balconies, stainless steel appliances and granite countertops. The residential property is part of Riverpark, a 700-acre, master-planned community that features parks, jogging trails, bike paths and playgrounds. Peter Smyslowski, Charles Halladay, Jonah Aelyon, Spencer Bergthold and Elijah Lax of JLL Capital Markets represented the undisclosed seller in the deal.
ANAHEIM, CALIF. — Faris Lee Investments has arranged the purchase of Anaheim Resort Centre, a retail investment opportunity located within the Disneyland Resort District in Anaheim. An Irvine-based family office acquired the asset from an undisclosed seller for $19.5 million. Located on the corner of Harbor Boulevard and Katella Avenue, Anaheim Resort Centre features 10,000 square feet of retail space that nine tenants fully occupy on a triple-net lease basis. Nick Miller and Shaun Riley of Faris Lee Investments represented the buyer in the transaction.
SUNNYVALE, CALIF. — Lee & Associates has brokered the sale of a retail building located at 1109 E. Arques Ave. in Sunnyvale. The asset traded for $4.8 million. Neil Cowperthwaite and Winston Street of Lee & Associates Oakland represented the undisclosed seller in the deal. Union Bank occupies the 5,600-square-foot freestanding building on a long-term, triple-net lease.
PALM DESERT, CALIF. — Hanley Investment Group has arranged the sale of a two-tenant outparcel property located at 72306 Highway 111 in Palm Desert. Newport Beach-based Sage Investco sold the asset to a Salt Lake City-based private investor for $5 million. Mattress Firms occupies 3,800 square feet and Club Champion occupies 3,016 square feet at the asset on a net-leased basis. The property is an outparcel to a Walmart Neighborhood Market. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the buyer and seller in the deal.
MILPITAS, CALIF. — SummerHill Apartment Communities has completed the sale of Eleanor, a multifamily property in the Silicon Valley city of Milpitas. MG Properties purchased the asset for $193 million, or $579,580 per unit. Completed in 2021, Eleanor features 333 apartments in one- and two-bedroom layouts, including penthouse units. The property is a five-minute walk from the Milpitas Transit Center, which offers BART and VTA Light Rail services. Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni and Alex Tartaglia of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
FONTANA, CALIF. — A collaboration between Real Estate Development Associates (REDA), Clarion Partners and ECM Management has broken ground on I-10 Almond Commerce Center, a warehouse facility in Fontana. Premier Design + Build Group is constructing the ground-up project. The 210,355-square-foot warehouse will feature 36-foot clear heights, eight-inch reinforced concrete slab and a four-ply built-up roof system, as well as an ESFR sprinkler system and 2,000 GMP fire pump. The facility will also offer an office area with mezzanine space and parking for 101 vehicles and 32 trailers. HPA is serving as architect for the project, which is slated for completion in May 2023. Thienes Engineering and Darin Fong and Associates are providing engineering services for the property.
PLAYA DEL REY, CALIF. — PSRS has arranged a $22 million cash-out refinance of Laguna Del Rey Apartments, a multifamily property in Playa del Rey. Seth Ludwick secured the non-recourse loan that features a seven-year interest-only term, which includes a six-month forward rate lock and step-down prepay after year three. The loan was financed with one of PSRS’ life insurance correspondents. Laguna Del Rey Apartments features 130 units in a variety of floor plans, common area amenities and open parking spaces.