California

TCR, Barings Commence Construction of $90M Apartment Community in Bay Area

by Amy Works May 24, 2019

DANVILLE, CALIF. — Trammell Crow Residential (TCR) and Barings Real Estate Advisers are co-developing Alexan Downtown Danville, an apartment community located in Danville’s historic downtown district. Framing has commenced at the $90 million project, located at 375 Diablo Road, and completion is scheduled for summer 2020. Situated on 3.75 acres about 22 miles west of downtown Oakland, Alexan Downtown Danville will feature 144 apartments in a mix of one-, two- and three-bedroom apartments and townhomes, ranging in size from 500 square feet to 1,600 square feet. Community amenities will include a clubhouse with a lounge, conference room, business center, fitness center and package concierge. Outdoor amenities will include a resort-style swimming pool and spa, fire pit, outdoor kitchen, grill stations and dining area, a children’s play area, pet park and a vista overlooking the adjacent San Ramon Creek. Additionally, the property will feature private, gated subterranean parking with electric vehicle charging stations. The project team includes Wells Fargo as construction lender, LCA Architects as architect, Gates + Associates as landscape designer and Carlson, Barbee & Gibson as civil engineer.

May 24, 2019

Acquisitions California Loans Multifamily Seniors Housing Western

Harborview Capital Arranges $51.9M HUD Acquisition Loan for Skilled Nursing Portfolio in California

by Amy Works May 24, 2019

NEW YORK CITY — Harborview Capital Partners, a commercial real estate finance based in New York City, equity and advisory firm, has arranged a $51.9 million bridge-to-HUD loan for the acquisition of six skilled nursing facilities across California. The portfolio totals 678 beds, and the borrower is a national private investment group. Further details regarding the properties were not disclosed. The financing is a three-year bridge loan at 90 percent leverage. Harborview’s Jonathan Kutner and Eli Kutner originated the loan, which Robert Kellerman negotiated.

May 24, 2019

California Development Retail Western

Midwood Investment to Develop 94,000 SF Retail Property in Los Angeles’ Studio City

by Amy Works May 24, 2019

LOS ANGELES — Midwood Investment & Development plans to build The Shops at Sportmen’s Lodge at the intersection of Coldwater Canyon Avenue and Ventura Boulevard in the Studio City neighborhood of Los Angeles. Designed by Gensler, the new ground-up development will feature 94,000 square feet of retail space and communal outdoor space designed OLIN Studio, as well as more than 450 parking spaces. Groundbreaking will commence in August, with an estimated opening slated for fall 2020. Midwood is co-developing the project with Richard Weintraub, who originally introduced this retail concept to the Studio City neighborhood.

May 24, 2019

California Development Leasing Activity Restaurant Retail Western

Two New Restaurants to Open at Manhattan Village in Southern California

by Amy Works May 24, 2019

MANHATTAN BEACH, CALIF. — Two new restaurants are joining the tenant roster at Manhattan Village, a 573,000-square-foot indoor/outdoor mixed-use dining and retail property located in Manhattan Beach. The restaurants are: • dan by ROC (Republic of China), a new concept from ROC that offers home-cooked Chinese food, specializing in dumplings and noodles. Situated within the Village Shops, the 3,500-square-foot location is scheduled to open in fall 2020. • edo Little Bites, which is the newest creation of Chef Edoardo Baldi, creator of e.baldi. Located in Village Shops, the 642-square-foot eatery is slated to open in fall 2020. Kristin Grove and Devin Klein of JLL secured the new tenants. In January, the second phase of redevelopment at Manhattan Village started and includes the Village Shops, which encompasses more than 60,000 square feet of retail and restaurant space, two parking decks, a large green space for community gatherings, a water feature, clock tower, seating areas and lush landscaping. Completion of the Village Shops is scheduled for 2021. Situated on 44 acres, Manhattan Village is currently home to Apple, Williams-Sonoma, Pottery Barn, Pottery Barn Kids, Macy’s, Sephora, Victoria’s Secret, Tommy Bahama and Kiehl’s. The project is being developed in phases and slated for …

May 24, 2019

Atria-Related-Welltower-San-Francisco-CA

Acquisitions California Multifamily Seniors Housing Western

Atria, Related Cos., Welltower Buy Former TV Studio in San Francisco for Seniors Housing Conversion

by Amy Works May 23, 2019

SAN FRANCISCO — A joint venture between Related Cos. and Atria Senior Living, along with funding support from Welltower, has acquired the former KRON-TV headquarters in San Francisco, with plans to convert the property to seniors housing. Onyx Partners sold the property for an undisclosed price. Located one block from the new Sutter California Pacific Van Ness Medical Center and along the Van Ness Bus Rapid Transit (BRT) line now under construction, the community will be at the center of the city’s Cathedral Hill neighborhood. In April, the San Francisco Planning Commission unanimously approved the plans to transform the vacant building site into one of the city’s first modern senior living communities in over a decade. Groundbreaking is scheduled for late 2019, with a planned completion by the end of 2021. When completed, the building will total 13 stories and 270,000 square feet, including 7,000 square feet of ground-floor retail. The Related-Atria joint venture was announced in October 2018, with a $3 billion planned pipeline of new seniors housing development. At that time, San Francisco was specifically cited as a high-barrier-to-entry market the venture was interested in, along with New York City, Boston, Los Angeles, Miami and Washington D.C. Welltower …

May 23, 2019

Acquisitions California Industrial Western

Calavo Growers Sells Industrial Property in Southern California for $7.1M

by Amy Works May 22, 2019

TEMECULA, CALIF. — Calavo Growers, an international farm products company known for its distribution of avocados, has completed the sale of an industrial property located at 28410 Vincent Moraga Drive in Temecula. Stos Partners acquired the asset for $7.1 million. Calavo Growers has occupied the 64,678-square-foot industrial property since 1985. The building features an open warehouse, refrigerated cooler space, large yard space, excess land, dock loading, heavy power and 125 parking spaces. Calavo primarily uses the building as an avocado packing plant and will continue its operations under a new long-term, 30,000-square-foot lease in Suite B of the building. Rob Gunness and Kevin Kelly of CBRE represented the seller in the transaction.

May 22, 2019

Acquisitions California Multifamily Western

Tower 16 Capital Partners Buys 352-Unit Multifamily Project in California for $63M

by Amy Works May 21, 2019

COLTON, CALIF. — San Diego-based Tower 16 Capital Partners has acquired The District at Grand Terrace, a multifamily community located at 1315 S. Meadow Lane in Colton. FPA Multifamily sold the asset for $63 million in an off-market transaction. The District at Grand Terrace features 352 units in a mix of one-, two- and three-bedroom layouts with covered parking and private balconies or patios, four pools, a fitness center, two laundry facilities, two playgrounds and a leasing office. The buyer will oversee renovations and upgrades to the property, including new outdoor amenities, an upgraded leasing office and interior renovations. Alliance Residential will take over as property manager. Tyler Martin, Alex Garcia and Chris Zorbas of Institutional Property Advisors, a division of Marcus & Millichap, represented the buyer and seller in the deal. Scott Peterson and Bill Chiles of CBRE’s Capital Markets team in San Diego handled placement of the financing on behalf of Tower 16.

May 21, 2019

Acquisitions California Multifamily Western

Levin Johnston Brokers $25.5M Sale of Pacific Gardens Apartment Community in San Mateo, California

by Amy Works May 21, 2019

SAN MATEO, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sale of Pacific Gardens, a townhome-style apartment community in San Mateo. Located at 25 McAker Court and constructed in 1993, Pacific Gardens features 38 two-story townhouse units with two bedrooms and 2.5 bathrooms, as well as in-unit washers/dryers, private patios, fireplaces, underground parking and individual storage. Adam Levin and Robert Johnston of Levin Johnston represented the undisclosed buyer and seller in the deal.

May 21, 2019

California Development Multifamily Seniors Housing Western

Eden Housing Opens 90-Unit Pauline Weaver Senior Apartments in Bay Area

by Amy Works May 21, 2019

FREMONT, CALIF. — Eden Housing has opened Pauline Weaver Senior Apartments, a 90-unit affordable housing community for seniors in Fremont, located at the southeast edge of San Francisco Bay. KTGY Architecture + Planning designed the project. The City of Fremont also partnered on the development. Formerly known as Mission Court, units are reserved for seniors earning between 30 and 50 percent of area median income. The community sits on a 2.25-acre site approximately one mile from the Warm Springs BART Station. “As the first piece of a greater age-qualified master plan, Pauline Weaver Senior Apartments sits across the street from a future senior center. This future amenity will not only enhance the lives of the residents living in this affordable community but also the future master plan,” says Jessica Musick, a principal in KTGY’s Oakland office. Pauline Weaver, the property’s namesake, is a longtime advocate for affordable housing in California. She has been on the Eden Housing Board of Directors since joining in 1988. Weaver was an assistant public defender in Alameda County and the past president of both the National Conference of Women’s Bar Association and California Women Lawyers. According to Eden Housing, the development has a unique financing …

May 21, 2019

Acquisitions California Retail Western

Capital Rivers Commercial Arranges $11.2M Sale of Oakmont Plaza Retail Center in Fairfield, California

by Amy Works May 20, 2019

FAIRFIELD, CALIF. — Capital Rivers Commercial has brokered the sale of Oakmont Plaza, a shopping center in Fairfield. San Diego-based The Niki Group acquired the property from a Fairfield-based private investor for $11.2 million. FoodMaxx anchors the 105,000-square-foot retail center, which also includes a freestanding Chase Bank and O’Reilly Auto Parts in addition to 35,000 square feet of in-line space. Additional tenants include Mountain Mikes Pizza and Check to Cash. Greg Aguirre and Frank Kozlowski of Capital Rivers Commercial represented the seller, while Brandon Norton of John Cumbelich & Associates represented the buyer in the deal.

May 20, 2019

Newer Posts

Older Posts