California

Peak Campus to Manage 27 North Development Near San Jose State

by Nellie Day December 8, 2015

SAN JOSE, CALIF. — CityView and Symphony Development, a Los Angeles-based commercial development firm, have selected Peak Campus to manage the 27 North student apartment project near San Jose State University. Located one block north of the school’s campus, the 478-bed student housing project is currently under construction and will be move-in ready for students at the start of the 2016 school year. Upon completion, 27 North will offer fully furnished units in two-, three- and four-bedroom floor plans, complete with washers and dryers and stainless steel appliances. The community will also feature amenities including a fitness center, resort-style pool, a business center and computer lab, group study lounges on every floor, tanning facilities, a fire pit and grilling areas.

December 8, 2015

California Loans Retail Western

NorthMarq Arranges $9.8M in Acquisition Financing for Los Alisos Village in Mission Viejo

by Nellie Day December 8, 2015

MISSION VIEJO, CALIF. — NorthMarq capital has arranged $9.8 million in acquisition financing for Los Alisos Village, a 31,401-square-foot retail center located in Mission Viejo. David Blum and Nathan Prouty of NorthMarq arranged the transaction, which was structured with a three-year, interest-only loan.

December 8, 2015

California Retail Western

Primestor Acquires Panorama Mall in Panorama City for $100M

by Nellie Day December 7, 2015

PANORAMA CITY, CALIF. — Primestor Development has acquired Panorama Mall, a 315,000-square-foot mall located at 8401 Van Nuys Blvd. in Panorama City, from Macerich Co. in an off-market transaction valued at approximately $100 million. Situated at the intersection of Roscoe and Van Nuys boulevards, the mall draws nearly 7 million visitors annually. Current tenants include La Curacao, Walmart, Forever 21, Aéropostale, The Children’s Place, Finish Line, Foot Locker, Daniel’s Jewelers, GNC, GameStop, Kebab House, McDonald’s, Domino’s Pizza, Cricket Wireless, T-Mobile, Premier Insurance Security and Ice Island, among others.

December 7, 2015

California Multifamily Seniors Housing Western

Auctus Capital Partners Buys 99-Unit Seniors Housing Community in California

by Nellie Day December 7, 2015

CARMICHAEL, CALIF. — Auctus Capital Partners has acquired Chateau at Carmichael Park, a 99-unit independent living, assisted living and memory care community in the Sacramento suburb of Carmichael, for an undisclosed sum. Cushman & Wakefield Senior Housing Capital Markets arranged the first mortgage acquisition financing for Auctus, a private real estate firm based in San Diego. Owens Financial, a San Francisco-based lender, provided the loan. Chateau at Carmichael Park is a two-story community that was built in 1975. Auctus plans to make physical improvements to both the interior and exterior of the building. Integral Senior Living will operate the community. The non-recourse financing capitalized both the acquisition as well as the planned capital improvements to the community. Aaron Rosenzweig, a senior director from Cushman & Wakefield, arranged the transaction.

December 7, 2015

California Multifamily Western

Sares Regis Purchases Vista Pointe Apartment Homes in Covina

by Nellie Day December 7, 2015

COVINA, CALIF. — Sares-Regis Value-Add Multifamily Fund II has purchased the 216-unit Vista Pointe Apartment Homes in Covina for an undisclosed sum. The community is located at 1400 Grand Ave. This is the fund’s first acquisition. Sares-Regis plans to make major improvements and upgrades to the property as part of its repositioning strategy.

December 7, 2015

California Retail Western

CBRE Arranges Six Leases at Crossroads at Buellton Village

by Nellie Day December 4, 2015

BUELLTON, CALIF. — CBRE Group has arranged six leases at Crossroads at Buellton Village, a 52,628-square-foot shopping center currently under construction in Buellton. The Habit inked a deal for 2,000 square feet; Chipotle Mexican Grill signed a lease for 1,900 square feet; Supercuts leased 850 square feet; a national coffee chain signed for 1,610 square feet; a telecommunications corporation inked a deal for 1,800 square feet; and a home improvement supply store leased 39,632 square feet of space at the center. With three remaining spaces available, ranging from 1,000 square feet to 6,883 square feet, the center is slated to open in first quarter 2016. Larry Tanji, Scott Siegel and Lisa Engel of CBRE represented the developer, Buellton Village Center LLC, in the lease transactions.

December 4, 2015

California Office Western

Scripps Health, Irvine Co. Launch Retail Clinic in University City

by Nellie Day December 4, 2015

UNIVERSITY CITY, CALIF. — Scripps Health and Irvine Co. have opened Scripps HealthExpress, a retail health clinic at The Plaza, Irvine Co.’s office complex in University City. Located at 4350 La Jolla Village Drive, the 1,691-square-foot facility will feature four exam rooms and a variety of medical and wellness services on an appointment and walk-in basis. Scripps Clinic will operate the facility. The is the first healthcare facility in San Diego County to open in a workplace community.

December 4, 2015

California Industrial Western

PB Financial Group Corp. Funds 20 Loans for a Total of $8.7M

by Nellie Day December 4, 2015

LOS ANGELES — PB Financial Group Corp. has funded 20 loans throughout California for a total of more than $8.7 million. The Los Angeles-based firm financed a variety of projects, from industrial buildings to multifamily properties. The properties are situated throughout the state, including Los Angeles, San Francisco, Palm Springs and various San Diego submarkets. PB Financial specializes in privately funded transactions for commercial and residential real estate in California.

December 4, 2015

California Office Western

JV Buys Lakes at West Covina Office Campus in California for $34.8M

by Nellie Day December 3, 2015

WEST COVINA, CALIF. — A joint venture between Stillwater Investment Group, Greenlaw Partners and CrossHarbor Capital Partners has acquired The Lakes at West Covina, a 176,843-square-foot office campus, for $34.8 million. The two-building campus is located at 1000 and 1050 Lakes Drive in West Covina. The Class A campus is 73.5 percent leased. Notable tenants include Wells Fargo Bank, Balfour Beatty, State of California and the U.S. Government Services Administration. Taylor Ing, Drew Sanden and Scott Maples of Cushman & Wakefield are the leasing agents for the Lakes at West Covina. This is the JV’s first acquisition. It plans to focus on the Southern California office market, in addition to assets it can purchase well below replacement cost.

December 3, 2015

California Office Western

Munger, Tolles & Olson Law Firm Leases Space in Downtown LA

by Nellie Day December 3, 2015

LOS ANGELES — Munger, Tolles & Olson LLP has leased 150,500 square feet at a 52-story office tower in Downtown Los Angeles. The building is located at 350 S. Grand Ave. It is referred to as “2 Cal.” The law firm specializes in litigation, corporate, labor and employment, environmental, real estate, financial restructuring and tax. It plans to relocate to the space in early 2017. The landlord is CIM Group.

December 3, 2015

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