CALABASAS, CALIF. — Michael Klein, principal and CEO, has opened Freedom Financial Funds (FFF) in Calabasas. FFF manages private equity funds that it uses for debt and equity capital for the construction, rehabilitation, repositioning, conversion or additions to commercial and residential properties in the Western United States. The firm’s team of experts includes Stanley Kafka, Minda Johnstone and Yan Lam, all principals and founding members of FFF. The firm uses pooled funding or managed accounts, provided by high-net-worth individuals, business managers, institutional investors and lines of credit provided by commercial banks.
SAN FRANCISCO — Bridgeton Holdings has received a $45 million loan to acquire 995 Market St., a 15-story office tower in San Francisco. The company purchased the 91,300-square-foot tower for $62 million. The office portion of the tower is occupied by WeWork and a nonprofit group. It also includes ground-floor retail that is fully leased to CVS. The property is situated in the Mid-Market neighborhood, which is also home to Twitter, Uber and Spotify. Jordan Ray, Ari Hirt, Steven Buchwald and Alex Draganiuk of Mission Capital Advisors arranged the non-recourse loan.
LOS ANGELES — An affiliate of Brooks Street has obtained a total of $9.8 million in financing to acquire a 1.2-acre land parcel in Los Angeles’ Koreatown neighborhood. The Newport Beach-based developer obtained entitlements for 166 apartment units and 5,000 square feet of retail. West Bay Capital LLC arranged the financing. The funds consist of a $5 million loan secured by a second deed of trust, as well as a $4.8 million senior loan that was placed with a capital partner. Both loans fetaure six-month terms and six-month extension periods.
PERRIS, CALIF. — Eight new retailers are set to open at Perris Marketplace, a Super Walmart-anchored shopping center located in the Los Angeles suburb of Perris. New openings will include a 2,000-square-foot Chipotle Mexican Grill; a 3,000-square-foot Pacific Dental; a 2,300-square-foot Pieology; a 2,500-square-foot freestanding Popeye’s with a drive-thru; a 1,600-square-foot T-Mobile; a 1,600-square-foot Verizon; a 1,500-square-foot Waba Grill; and a 1,135-square-foot Yogurtland. Paul Galmarini of Progressive Real Estate Partners represented the developers and owners of the center, Evergreen and Trachman Indevco, in the transactions. The freestanding drive-thru pad and the two buildings that will be home to the new stores are scheduled for groundbreaking in early summer 2016, with all eight retailers projected to open in late 2016 and early 2017.
WALNUT CREEK, CALIF. — MoMo’s American Bar & Grill, an AT&T Park-adjacent restaurant, is opening a second location in Walnut Creek, roughly 25 miles outside of San Francisco. The bar and eatery will occupy a 6,528-square-foot retail space at 1444 N. California Blvd. Jeffrey Hook of Savills Studley represented MoMo’s, and John Sechser of Transwestern represented the landlord, Nearon Enterprises, in the transaction. The restaurant signed a 15-year lease with two extension options, and plans to open in the fourth quarter of this year. This will be the fifth restaurant owned by The Golden Bear Restaurant Group, founded in 1991 by Peter Osborne and his wife, Janet. The original MoMo’s opened in 1998 and was named in memory of Osborne’s grandmother and mentor, whom he affectionately called MoMo.
IRVINE, CALIF. — J+R Group has purchased a 191,849-square-foot office building in Irvine for $66 million. The Class A building is located at 1901 Main St. The building is fully leased to three tenants. It was built in 2001, immediately adjacent to John Wayne Airport and Interstate 405. JLL’s Joe Bevan represented J+R Group, and the firm was retained to handle the building’s property management as well. Jeff Cole and Ed Hernandez of Cushman & Wakefield represented the seller, Piedmont Office Realty Trust, in this transaction.
LOS ANGELES — Intercontinental Real Estate Corp. has purchased Apollo at Rosecrans, a 546,833-square-foot creative office campus in the Los Angeles submarket of El Segundo, for an undisclosed sum. The four-building, 13-acre campus is located at 2150, 2120, 2121 and 2175 Park Place, along the Rosecrans Corridor, a hotspot for tech and creative companies. Apollo at Rosecrans is 98 percent leased. Amenities include concrete floors, African Mahogany accent panels, LED strip accent lights, a basketball court, dog park, biking and walking trails, shower facilities and an outdoor fireplace. NGKF’s Kevin Shannon and CBRE represented the sellers, Invesco Real Estate and Second Street Ventures, in this transaction.
PASADENA, CALIF. — BRC Advisors has brokered the lease of a retail property located at 59 Colorado in Pasadena. Situated within Indiana Colony, a new marketplace concept, the 846 square feet restaurant space is located within a 5,500-square-foot retail building. Surrounding tenants include CoolHaus, Pressed Juicery, Piehole and Intelligentsia Coffee & Tea. Lorena Tomb of BRC Advisors represented the tenant in the transaction. The names of the tenant and landlord were not released.
LOS ANGELES — JLL has hired Scott Kaplan as executive vice president and Erik Westedt as senior vice president to expand the firm’s Southern California retail practice. The pair brings a combined 35 years of experience in the leasing, development and sale of retail properties locally, regionally and nationally. Throughout their careers, the pair has completed transactions encompassing 25 million square feet of retail space valued at more than $5 billion. Prior to joining JLL, Kaplan served as a senior vice president at a global commercial real estate firm and Westedt served as a vice president at a global commercial real estate firm.
LOS ANGELES — Blueprint Post Production has purchased a 60,087-square-foot office complex in the North Hollywood submarket of Toluca Lake for $13 million. The complex is located at 4142, 4144 and 4146 Lankershim Blvd. The three buildings were constructed in 1977, 1964, and 1987, respectively. They are adjacent to Universal City, near NBC Universal and CBS Paramount, as well as the 101 and 170 freeways. Stacy Vierheilig-Fraser of Charles Dunn Co. represented the post-production services company. Vierheilig-Fraser also represented the seller, Lankershim Media Center Associates, an entity of LS Capital.