California

Coastal Holdings Group Buys 11,050 SF Industrial Building in Poway, California for Relocation

by Amy Works January 21, 2025

POWAY, CALIF. — Coastal Holdings Group has acquired an industrial building located at 12155 Paine Place in Poway for $4.1 million from Bergo Enterprises. The buyer plans to use the 11,050-square-foot property to accommodate its electrical contracting business. Chris Duncan of Voit Real Estate Services represented the buyer, while Robb Kerr of Intersection Commercial Real Estate represented the seller in the deal. Prior to the acquisition of 12155 Paine Place, Duncan brokered the $3.4 million sale of an 8,049-square-foot industrial building located at 13851 Danielson St. on behalf of Coastal Holdings Group. Escobar Family Real Estate Holdings acquired the asset as an investment property. Travis Jaedtke of Strategic Real Estate Group represented the buyer.

January 21, 2025

California Loans Multifamily Western

Gantry Secures $27.8M in Acquisition Financing for Multifamily Portfolio in Oakland, California

by Amy Works January 20, 2025

OAKLAND, CALIF. — Gantry has secured $27.8 million in financing on behalf of a private real estate investor for the purchase of a portfolio of eight multifamily properties in Oakland. The portfolio includes 225 apartments and three commercial units at one of the properties. Jeff Wilcox and Erinn Cooke of Gantry represented the borrower. The financing was structured as a three-year, variable rate acquisition loan provided by a single institutional debt fund. The instrument included prepayment flexibility and extension options.

January 20, 2025

Acquisitions California Industrial Western

CapRock Partners Sells 270,000 SF West Valley Logistics Center in Walnut, California

by Amy Works January 20, 2025

WALNUT, CALIF. — CapRock Partners has completed the disposition of West Valley Logistics Center, a LEED-certified industrial warehouse in Walnut. Completed in December 2024, West Valley Logistics offers 270,000 square feet of speculative industrial space situated on 12.5 acres at 4200 Valley Blvd. The property features a clear height of 40 feet, secure dual access with drive-around capabilities, rear loading with 28 dock-high doors, 45 trailer parking stalls, 130 car spots, ample power and 10,000 square feet of two-story office space. Matt Moore, Wes Hunnicut and Michael Torres of Stream Realty represented CapRock Partners, while Mike Hartel and Nick Velasquez of Colliers represented the undisclosed buyer in the deal. The acquisition price was not released.

January 20, 2025

Acquisitions California Industrial Western

Yunqun Purchases 21,481 SF Multi-Tenant Industrial Building in Carlsbad, California

by Amy Works January 20, 2025

CARLSBAD, CALIF. — Yunqun LLC has acquired a 21,481-square-foot multi-tenant industrial building located at 5924 Balfour Court in Carlsbad. The Gildred Cos. sold the asset for $6.2 million. Yunqun plans to occupy the vacant 12,105 square feet in the building for its manufacturing business with move-in expected later this year. Chris Baumgart and Steven Field of JLL represented the seller, while Hank Jenkins, Mike Erwin and Tucker Hohenstein of Colliers represented the buyer in the transaction.

January 20, 2025

Acquisitions California Multifamily Western

Reliant Group Sells Apartment Property in Sacramento for $52.5M

by Amy Works January 16, 2025

SACRAMENTO, CALIF. — Reliant Group has completed the sale of The Lofts, an apartment property in Sacramento’s Natomas submarket. Jackson Square Properties acquired the asset for $52.3 million. Located at 3351 Duckhorn Drive, The Lofts offers 188 one- and two-bedroom units, with more than 40 percent including loft-style floor plans. Select units feature attached direct-access garages, nine-foot vaulted ceilings, dual-pane windows and luxury flooring. Community amenities include a swimming pool, hot tub, fitness center, an outdoor barbecue and entertainment center and a playground. Marc Ross of CBRE represented the seller in the deal. Ryan Greer and Trevor Breaux of CBRE Capital Markets Debt & Structured Finance arranged financing on behalf of the buyer.

January 16, 2025

California Industrial Loans Western

Keystone Arranges $73.1M in Loans for 1.1 MSF Southern California Industrial Portfolio

by Amy Works January 15, 2025

LOS ANGELES — Keystone Mortgage Corp. has arranged $73.1 million in fixed-rate permanent loans to refinance a portfolio of industrial properties totaling 1.1 million square feet in Southern California. Situated on a combined 52.9 acres, the portfolio features nine concrete tilt-up buildings. Nick Viscount of Keystone’s Orange County, Calif., production office secured the financing on behalf of the borrower, a private real estate investor. Keystone arranged the loans through a life insurance company lender, which provided the nonrecourse loans, each featuring a 10-year fixed-rate and full-term interest-only payments.

January 15, 2025

California Development Loans Multifamily Seniors Housing Western

Live Oak Bank Provides $40M in Construction Financing for Assisted Living, Memory Care Community in California

by Amy Works January 15, 2025

CALIFORNIA — Wilmington, N.C.-based Live Oak Bank has provided a $40 million loan to finance the ground-up construction of a new seniors housing community in California. Upon completion, the property will feature 140 assisted living and memory care units. Additional details about the property were not released. Live Oak Bank provided the financing, which features a five-year term and 42 months of interest-only payments, in conjunction with a $39.6 million C-PACE loan provided by Nuveen Green Capital. A joint venture between Harbert Seniors Housing Fund II and Harbert South Bay Partners was the borrower.

January 15, 2025

Acquisitions California Office Western

CBRE Negotiates $2.6M Sale of Two-Story Office Building in Irvine, California

by Amy Works January 15, 2025

IRVINE, CALIF. — CBRE has arranged the sale of an office building located at 9890 Irvine Center Drive in Irvine. Navigators Advisory Group acquired the property from ICD Equities for $2.6 million. Built in 2007, the two-story 4,950-square-foot building features a mix of open and private offices. Recent upgrades include a loft-style creative design that features open ceilings and exposed ducting. Jeff Carr and Jonathan Carr of CBRE represented the seller, while Blake Garrett of The Feed Group represented the buyer in the transaction.

January 15, 2025

Acquisitions California Loans Retail Western

Marathon Asset Management Provides $164M Acquisition Loan for Shopping Mall in Thousand Oaks, California

by Amy Works January 14, 2025

THOUSAND OAKS, CALIF. — Marathon Asset Management has provided a $164 million mortgage loan for the acquisition of The Oaks, a shopping mall located in Thousand Oaks, roughly 38 miles west of Los Angeles. Stockdale Capital Partners was the borrower. Nordstrom, Dick’s Sporting Goods and AMC Theatres anchor the 1.2 million-square-foot property, which is situated on 85 acres. Other tenants at the center include Apple, Anthropologie, Zara, H&M and Arhaus. Joseph Griffin of Marathon originated the loan. Greg Stampley and Jessica Henning of Eastdil Secured arranged the financing on behalf of Stockdale.

January 14, 2025

Acquisitions California Office Western

CBRE IM Disposes of 310,925 SF Office Building in Irvine, California for $42M

by Amy Works January 14, 2025

IRVINE, CALIF. — CBRE IM has completed the disposition of 2600 Michelson Drive, a 16-story office building in Irvine, to a Southern California-based private investor for $42 million. Anthony DeLorenzo, Todd Tydlaska, Sean Sullivan, Sammy Cemo, Bryan Johnson and Grant Goldman of CBRE Investment Properties represented the seller in the deal. Located on 4.6 acres in the Greater Airport submarket of Orange County, Calif., the 310,925-square-foot office property includes an adjacent five-level parking structure with 1,013 spaces. Built in 1986, the property has undergone extensive renovations. The asset features a two-story lobby and mezzanine, car charging stations, a conferencing facility, fitness center and MJ’s Café Irvine. Additionally, the building offers immediate access to Interstate 405 and State Routes 55 and 73. This year, the Jamboree-Michelson Pedestrian Bridge will be completed, connecting the building with walkable retail, residential and hospitality amenities.

January 14, 2025

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