California

Matthews Real Estate Facilitates $41.7M Sale of Shopping Center in Oceanside, California

by Amy Works March 16, 2018

OCEANSIDE, CALIF. — Matthews Real Estate Investment Services has arranged the sale of Del Oro Marketplace, a shopping center located at 4181 Oceanside Blvd. in Oceanside. A San Diego-based private seller sold the property for $41.7 million. The property features 102,000 square feet of retail space. El Warner and Caitlin Zirpolo of Matthews Real Estate Investment Services, along with Reg Kobzi and Joel Wilson of CBRE, represented the seller in the transaction. The buyer was an undisclosed private investor.

March 16, 2018

1136-1140-Westwood-Blvd-Westwood-Village-CA

Acquisitions California Mixed-Use Office Retail Western

CBRE Negotiates $4M Sale of Mixed-Use Property in Westwood Village, California

by Amy Works March 16, 2018

WESTWOOD VILLAGE, CALIF. — CBRE has brokered the sale of a multi-tenant retail and office property located at 1136-1140 Westwood Blvd. in Westwood Village. More LLC acquired the property from a private family trust for approximately $4 million. The two-story building features 6,340 square feet of retail and office space. Current tenants include D’Amores Pizza and a variety of office users. Alex Kozakov, Patrick Wade and Matthew Greenberg of CBRE represented the seller and the buyer in the deal.

March 16, 2018

Acquisitions California Multifamily Student Housing Western

Crown Acquisitions Acquires 486-Bed Community Near UC Davis for $50.2M

by Amy Works March 15, 2018

DAVIS, CALIF. — Crown Acquisitions Inc. has acquired College Square, a 486-bed student housing community located near the University of California, Davis, for $50.2 million. The acquisition was financed with a new Freddie Mac loan secured by Peter Benedetto and Aaron Moll of Berkadia. The garden-style property offers shared amenities including three resort-style swimming pools with furnished sundecks, a fitness center, business center, study lounge, outdoor grills, picnic areas and two 24-hour laundry facilities. Planned capital improvements for the community include fully furnished and renovated units; an expanded fitness center with state-of-the-art equipment; the addition of a new study lounge, fire pits and pool amenities; and landscaping improvements. The property is also currently being rebranded.

March 15, 2018

California Loans Mixed-Use Multifamily Retail Western

Fremont Hills Development Receives $65M Construction Loan for Mixed-Use Project in Fremont, California

by Amy Works March 15, 2018

FREMONT, CALIF. — Fremont Hills Development Corp. has received a $65 million construction loan for the development of a mixed-use project in Fremont. Parkview Financial provided the loan. Designed by Hoover Associates Architects and situated on 12.9 acres, the development will feature 158 multifamily units and 53,900 square feet of retail space. Community amenities will include a private second-floor courtyard, and a landscaped playground and park area with trails. Each unit will feature central air, in-unit laundry facilities, stainless appliances, quartz countertops, engineered hardwood floors and a private deck.

March 15, 2018

Acquisitions California Retail Western

Paragon Commercial Sells Single-Tenant Retail Property in California for $4.3M

by Amy Works March 15, 2018

SAN CLEMENTE, CALIF. — Paragon Commercial Group has completed the disposition of a retail property located in San Clemente. An undisclosed buyer acquired the property for $4.3 million. The freestanding drive-thru retail property is on a long-term absolute triple-net lease with JPMorgan Chase Bank. Patrick Luther, Matthew Mousavi, Garret Colburn and Michael Fowle of SRS Real Estate Partners represented the seller, while Luther and Mousavi also represented the buyer in the transaction.

March 15, 2018

California Loans Multifamily Seniors Housing Western

NorthMarq Arranges $29.3M Construction Financing for Seniors Housing Community in California

by Amy Works March 14, 2018

VISALIA, CALIF. — NorthMarq Capital has arranged $29.3 million in financing for the construction of Quail Park at Shannon Ranch, a 120-unit seniors housing property in Visalia, located between Los Angeles and the Bay Area. Living Care Lifestyles, the Kaweah Delta Hospital and several local investors own the property. Living Care Lifestyles will operate the community upon completion in early 2019. Stuart Oswald of NorthMarq secured the five-year loan through a regional bank.

March 14, 2018

California Multifamily Top Stories Western

Bascom Group Acquires 235-Unit Apartment Community in Southern California for $75.3M

by Camren Skelton March 14, 2018

OXNARD, CALIF. — The Bascom Group LLC has acquired Tempo at RiverPark Apartments, a 235-unit multifamily property in the Southern California community of Oxnard, for $75.3 million. Constructed in 2016, the community is located within RiverPark, a 704-acre master-planned development that is home to residential units, elementary and middle schools, retail and entertainment options, community parks, jogging trails pedestrian paths, and playgrounds. In addition, Tempo at RiverPark is situated within walking distance of The Collection, a retail destination that houses tenants such as Whole Foods Market, Target, REI, H&M and Century Cinemas. “Tempo was a rare opportunity to acquire a core asset in a very desirable coastal market in Ventura County at a discount to today’s replacement cost,” says Scott McClave, senior principal of Bascom. “The quality of the asset, proximity to employment and market fundamentals were extremely attractive to us.” Tempo at RiverPark includes a mix of one-, two- and three-bedroom floor plans that feature stainless steel appliances, quartz countertops and custom tile backsplashes. Community amenities include a 24/7 fitness center, yoga and spinning rooms, coffee bar, swimming pool, poolside cabanas and outdoor grilling stations. “The community was built by a very reputable national developer and is well designed and …

March 14, 2018

California Office Western

Madison Partners Negotiates $13.2M Sale of Office Building in Downtown Santa Monica, California

by Amy Works March 13, 2018

SANTA MONICA, CALIF. — Madison Partners has arranged the sale of a creative office building located at 1522 Second St. in downtown Santa Monica. The Hertz Investment Group sold the property to HQ Creative Office for $13.2 million, or $864 per square foot. The asset consists of two interconnected buildings totaling 15,329 rentable square feet. HQ Creative Office, a subsidiary of The HQ Group, plans to redesign and renovate the property, which was vacant at closing. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller in the transaction.

March 13, 2018

California Retail Western

SRS Real Estate Partners Brokers $5.3M Sale of Starbucks Location in San Bernardino, California

by Amy Works March 13, 2018

SAN BERNARDINO, CALIF. — SRS Real Estate Partners has arranged the sale of a newly constructed, single-tenant retail property located at the intersection of University Parkway and North State Street in San Bernardino. A local private 1031 exchange buyer purchased the property from an Orange County, Calif.-based real estate investment and development firm for $5.3 million. Built in 2017 on 1.15 acres, Starbucks Coffee occupies the 3,000-square-foot drive-thru property. Michael Walseth of SRS represented the seller, while Chris Nikchevich of TNG Real Estate Services represented the buyer in the deal.

March 13, 2018

California Multifamily Western

IPA Negotiates $50M Sale of Two-Property Multifamily Portfolio in Fairfield, California

by Amy Works March 12, 2018

FAIRFIELD, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a two-property multifamily portfolio located in Fairfield. Jackson Square Properties purchased the portfolio from Fairfield Quail Terrace and Fairfield Sheffield Greens for $50 million, or $185,450 per unit. The 268-unit portfolio consists of Avery Park Apartments and Bennington Apartments. Constructed in 1986, both properties feature park-like settings with landscaped greenbelts. Avery Park Apartments and Bennington Apartments offer one- and two-bedroom floor plans with average unit sizes of 884 square feet and 864 square feet, respectively. Salvatore Saglimbeni, Stanford Jones and Philip Saglimbeni of IPA represented the sellers in the transaction.

March 12, 2018

Newer Posts

Older Posts