LOS ANGELES — Housing & Healthcare Finance has arranged a $6 million HUD refinancing for a 99-bed skilled nursing facility in the greater Los Angeles area. The name of the facility was not disclosed. In addition, the same company recently arranged a $32 million refinancing for two facilities in the New Orleans area. The Archdiocese of New Orleans owns both properties, which total 437 beds. The refinancing takes out the construction loan for a 30-unit rehabilitation center at the properties.
ALISO VIEJO, CALIF. — Chronic Tacos, a California-inspired Mexican grill, plans to open 26 new locations in the United States and Canada by the end of 2017, bringing its total to over 50 locations. 2017 planned openings include: Birmingham, Ala. (2 locations) Waterfront, B.C. Bell Gardens, Calif. Burbank, Calif. Clovis, Calif. Hillcrest (San Diego), Calif. Irvine, Calif. Laguna Beach, Calif. Oceanside, Calif. Pacific Beach, Calif. Paseo, Calif. Redlands, Calif. Sacramento, Calif. Fort Meyers, Fla. Windermere, Fla. Tampa Bay, Fla. Alpharetta, Ga. Atlanta Oahu, Hawaii Las Vegas T-Mobile Arena Raleigh, N.C. Wake Forest, N.C. Nashville, Tenn. Spokane, Wash. Tacoma, Wash. (Lakewood) 2018 planned openings include: Barstow, Calif. Newbury Park, Calif. Alberta, Canada Denver West Midtown, Ga. Aliso Viejo, Calif.-based Chronic Tacos is a California-inspired Mexican grill founded in 2002.
LOS ANGELES — The Yucaipa Companies has received a $93 million loan for the 384-room Line Hotel in Los Angeles. The newly renovated lifestyle hotel is located in the Koreatown neighborhood. The 12-story, full-service boutique hotel opened in 2014. The Line is a new lifestyle hotel brand owned by Ron Burkle’s Yucaipa Companies and managed by Sydell Group, a hotel management company co-founded by Burkle and Andrew Zobler. The funds were used to refinance an existing renovation loan after recent multi-million-dollar improvements at the property. The new loan will also provide additional funding for minor ongoing property renovations. The sponsors plan to reposition the first-floor lobby and restaurant areas, as well as upgrade the grand ballroom. Natixis provided the loan.
LOS ANGELES — Square Mile Capital Management has originated a $70.5 million loan that is secured by a 415,000-square-foot office building in the Koreatown neighborhood of Los Angeles. The 22-story building is located at 3600 Wilshire Blvd. The property spans a full city block from Wilshire to 7th Street. It also includes an 825-space parking deck behind the office building. Jamison Services acquired the building in 1999 and is refinancing the existing debt. Square Mile’s loan also includes proceeds to fund future capital expenditures and leasing costs.
VICTORVILLE, CALIF. — Newell Brands has signed a three-year lease for 195,508 square feet of industrial space at Southern California Logistics Airport in Victorville. The space is situated in the 370,023-square-foot Distribution Centre 18. SCLA is an 8,500-acre multimodal freight transportation hub that includes a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development. The facility was completed on June 22. The new lease brings DC 18 to full occupancy. Plastipak Packaging will occupy the remainder of the building. CBRE’s Ryan Athens represented Newell Brands. The same firm’s Jay Dick represented the landlord, Stirling Development, in this transaction.
ONTARIO, CALIF. — Skechers USA Inc., a footwear manufacturer, has opened its largest Skechers mall-based factory outlet store. The 24,000-square-foot store is located at Ontario Mills in Ontario. The store features dedicated shops for the various Skechers lifestyle and performance collections for men and women, an kids area complete with theater and a shop dedicated to the brand’s apparel collection. The Ontario Mills Skechers superstore joins a retail portfolio that includes large-format stores in Las Vegas and Gardena, Calif., plus flagship stores in locations such as Los Angeles’ Hollywood & Highland, Times Square in New York, San Francisco’s Powell Street, London, Tokyo, Shanghai and other cities around the world. At the end of the second quarter of 2017, Skechers had 2,055 stores worldwide, with 584 being company owned.
SAN DIEGO — HKS and Clark Construction have unveiled plans for North Torrey Pines Living and Learning Neighborhood, a mixed-use community located in the center of the University of California San Diego campus. Designed for LEED Platinum certification, the development will house 2,000 students and feature seven mixed-use buildings that offer a combination of living, learning, community and administrative facilities. Additional features will include 1,200 parking spaces and pedestrian- and bike-friendly pathways. HKS is the lead design architect and the architect of record. Other team members include design firm Safdie Rabines Architects and landscape architect OJB. The project is slated for completion in August 2020.
LA QUINTA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building occupied by TJ Maxx and ULTA Beauty in La Quinta. The 33,708-square–foot building is within Washington Park Shopping Center, which houses Target, Lowe’s, Trader Joe’s, ALDI, Stein Mart and Century Theatres. Hanley Investment Group’s Bill Asher represented the undisclosed seller in the $8.9 million transaction. Steven Gelber of Gelber Realty Corp. represented the buyer, a private investor from Los Angeles.
FRESNO, CALIF. — Asset Campus Housing has taken over management of Campus Edge, a 416-bed community near Fresno State University. The pet-friendly property features one- and two-bedroom floor plans with private patios and walk-in closets. Community amenities include hot tubs, a resort-style pool with sundeck and renovated clubhouse equipped with a game room and business center.
SAN JOSE, CALIF. — A joint venture between TMG Partners and Valley Oak Partners has completed a preliminary review submittal application to the City of San Jose to develop close to 1 million square feet of commercial office space. The project would be situjated on 5.4 acres at 440 W. Julian St. within the Diridon Station Area Plan. The proposal includes three six-story office buildings and below-grade parking. The three buildings would contain 157,000 square feet, 345,000 square feet and 490,000 square feet, respectively, with views of downtown San Jose. Each building will feature floor plates ranging from 30,000 square feet to 90,000 square feet, as well as 15-foot floor-to-floor heights and large, private terraces on every floor. The site is situated near Google’s yet-to-be-constructed village development. Kohn Pedersen Fox Associates would act as the designer.