LOS ANGELES — Universe Holdings has secured a $9.2 million loan for the 50-unit Sycamores apartments in the Los Angeles submarket of Inglewood. The community is located at 875 Victor Ave. The Sycamores was built in 1972. Universe Holdings has renovated and modernized the asset since it acquired the property in 2014. The refinancing retired existing debt and the original principal and improvement capital. It was arranged by HFF’s Charles Halladay.
SACRAMENTO, CALIF. — Hunt Mortgage Group has provided a $5 million loan to Promise Keeper LLC for the acquisition of the 72-unit Arden Villas apartment community in Sacramento. The community is located at 2043-2045 Wyda Way. Arden Villas is currently 96 percent occupied. Units were recently updated with new flooring, countertops, cabinetry and hardware. Select units also contain a washer and dryer, central HVAC and/or small yards and patio spaces. The loan was a Freddie Mac Small Balance Loan.
LOS ANGELES — Omninet Capital LLC has purchased the four-building Los Angeles Corporate Center in the Monterey Park submarket for an undisclosed sum. The office campus is located at 900, 1000, 1200 and 1255 Corporate Center Drive. The Class A campus contains a total of 394,524 square feet. It is 95 percent occupied with tenants like the State of California, Los Angeles County, State Compensation Insurance Fund, Synermed and AT&T. Sean Fulp, Kevin Shannon, Ken White and Brunson Howard of NGKF Capital Markets represented the seller, Equity Office Properties, in this transaction.
SAN DIEGO — A private investor has acquired Paseo Palomar, a 60,649-square-foot office building in the San Diego submarket of Vista, for $12.8 million. The low-rise building is located at 3220 Executive Ridge. Paseo Palomar is fully leased to tenants like Jaguar Mobile Inc., Chandler Signs and 101domain.com. The property is less than two miles from Bressi Ranch Village Center, one of the area’s major shopping centers. CBRE’s Gary Stache, Anthony DeLorenzo, Matt Pourcho and Doug Mack represented the seller, Rialto Capital/Birtcher Anderson Realty, in this transaction.
LOS ANGELES — Best Buy has signed a 10-year lease for 479,310 square feet of industrial space at the Brickyard South Bay in the Los Angeles submarket of Compton. The site is just south of downtown Los Angeles, east of Los Angeles International Airport and north of the nation’s two biggest ports. The project’s two Class A buildings are located at 1701 N. Central Ave. and 1430 N. McKinley Ave. UPS signed a 10-year lease for 521,816 square feet at the site this past September. The project is now fully leased. Brickyard South Bay is a 58-acre site that was formerly home to a brick manufacturing facility. A joint venture between Clarion Partners and Trammell Crow Company is converting the site into a state-of-the-art industrial facility. CBRE Group’s Bret Quinlan and John Schumacher serve as the leasing agents.
GOLETA, CALIF. — PSRS has arranged an $80 million loan for a 266-unit apartment complex in Goleta. The luxury complex is situated on a 13.7-acre lot. It features 18 buildings and amenities such a business center, clubhouse, fitness center, swimming pool, barbecue, fire‐pits and spa. The loan was used to pay off construction costs. PSRS’ Mike Thorp arranged the financing. The 10‐year, fee-simple loan will amortize in 30 years. One of PSRS’ correspondent life companies provided the capital for the loan.
OXNARD, CALIF. — E&E Trust has purchased a 3.8-acre parcel of land within the McInnes Ranch Business Park in Oxnard for an undisclosed sum. The land is located at 500 N. Elevar St. The parcel will soon house a 52,500-square-foot speculative warehouse distribution building. Mitch Conlee of Daum Commercial represented the buyer and seller, a local developer, in this transaction.
SAN FRANCISCO — A private investor has acquired a four-unit apartment building in San Francisco for $3.2 million. The community is located at 537-541 Dolores St. The units look directly into Dolores Park. Clinton Textor and Nick Bonn of Marcus & Millichap represented both the buyer and seller, another private investor, in this transaction.
SANTA CLARITA, CALIF. — In an off-market transaction, Colliers International has negotiated the $69.5 million sale of Gateway Village Shopping Center in Santa Clarita. Michelle Schierberl and Donald Ellis of Colliers’ Irvine office brought the center’s seller, JH Real Estate Partners, and the buyer, private investment group Galois Group, together in the transaction. Built in 2005 and located at 28207-28313 Newhall Ranch Road, the 153,686-square-foot center is 95 percent occupied with one vacant space. Anchor tenants include LA Fitness, Smart & Final Extra, Coffee Bean & Tea, The Habit, US Bank and Lindora Medical.
LOS ANGELES — June Quest One LLC has acquired a 14-unit apartment complex in the Los Angeles submarket of Reseda for $4.4 million. The community is located at 7122 Amigo Ave. The property features high-end finishes and appliances in the units, gated parking, secure entrance and an elevator. It was built in 2013. Robert Stepp and Mark Witksen of Stepp Commercial represented the buyer. The Agency represented the seller, Amigo Properties.
