California

NorthMarq Arranges $22.1M Refinancing for Apartment Complex in Los Angeles

by Nellie Day January 12, 2016

LOS ANGELES — NorthMarq Capital has arranged a $22.1 million refinancing for The Meadows, a 690-unit apartment complex in the Los Angeles submarket of Culver City. The community is located at 6100-6500 Green Valley Circle. The loan features a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Jeffrey Weidell, Nathan Prouty and Andrew Slaton of NorthMarq Capital’s San Francisco office arranged the financing through the firm’s correspondent relationship with a life insurance company.

January 12, 2016

California Multifamily Western

Private Investor Buys 53-Unit Apartment Building in Monrovia for $12.2M

by Nellie Day January 12, 2016

MONROVIA, CALIF. — A private investor has purchased a 53-unit apartment building in Monrovia for $12.2 million. The community is located at 1219 S. Alta Vista Ave. It was built in 1971. Warren Berzack and Stephen Geiger of Berzack Investment Property Advisors Group of Lee & Associates-LA North/Ventura represented both the buyer and seller, another private investor, in the transaction.

January 12, 2016

California Office Western

Nova Academy Children’s Foundation Buys Santa Ana Office Building for $8M

by Nellie Day January 12, 2016

SANTA ANA, CALIF. — Nova Academy Children’s Foundation has purchased a 38,000-square-foot office building in Santa Ana for $8 million. The building is located at 500 W. Santa Ana Blvd. The foundation will use this property as a flagship charter high school. Brian Corrigan of Voit Real Estate Services’ Anaheim executed the sale.

January 12, 2016

California Retail Western

Passco Acquires Day Creek Village in California for $15.8M

by Nellie Day January 11, 2016

RANCHO CUCAMONGA, CALIF. — Passco Companies LLC has acquired Day Creek Village, a 25,002-square-foot shopping center located in Rancho Cucamonga, for $15.8 million. Tenants at the fully occupied center include Starbucks Coffee, Wells Fargo, Super Cuts, Subway and Orange Theory Fitness. Ralph’s grocery store shadow-anchors the property. CJ Osbrink and Gleb Lvovich of HFF represented Passco and the seller, Day Creek Village LLC, in the off-market transaction.

January 11, 2016

California Retail Western

Main + Main Names Mike Clark Executive Director

by Nellie Day January 11, 2016

SANTA MONICA, CALIF. — Santa Monica-based brokerage firm Main + Main has named Mike Clark as its executive director. Prior to joining Main + Main, Clark spent 20 years with Cushman & Wakefield. Clark will be based in the company’s San Diego office, and will specialize in shopping centers, retail strip centers and freestanding retail buildings in the San Diego area.

January 11, 2016

California Retail Western

Donahue Schriber Realty Group Acquires Alamo Plaza in California

by Nellie Day January 8, 2016

ALAMO, CALIF. — Donahue Schriber Realty Group has acquired Alamo Plaza, a 195,147-square-foot shopping center located in Alamo, from Investco Advisors Inc. for an undisclosed price. Safeway anchors the center, which is also home to tenants including Rite-Aid, 24 Hour Fitness, Richards Arts and Crafts, Peet’s Coffee & Tea and Panera Bread.

January 8, 2016

California Loans Retail Western

NorthMarq Secures $4.2M Loan for Laguna Palms in Elk Grove

by Nellie Day January 8, 2016

ELK GROVE, CALIF. — NorthMarq Capital has arranged a $4.2 million refinancing for Laguna Palms, a retail property located at 9105 Bruceville Road in Elk Grove. The 15-year loan features a 25-year amortization schedule. Tenants at the 23,869-square-foot property include U.S. Post Office and Goodwill. Blake Melstrom of NorthMarq Capital’s Los Angeles office secured the financing for the undisclosed borrower.

January 8, 2016

California Retail Western

Stevenson Real Estate Services Arranges $1.4M Sale of Retail Building in Glendale

by Nellie Day January 8, 2016

GLENDALE, CALIF. — Stevenson Real Estate Services has arranged the sale of a retail building located at 601 S. Glendale Ave. in Glendale. Emad and Caroline Salama acquired the property from Robert Morris for $1.4 million. Built in 1961, the 1,568-square-foot building is situated on 11,500 square feet of land. Michael Maniscalchi and Tony Maniscalchi of Stevenson Real Estate Services represented the seller, while Sameh Nicola of California Prime Realty represented the buyer in the transaction.

January 8, 2016

California Office Western

Swift Real Estate Partners Buys San Diego Office Portfolio for $30.4M

by Nellie Day January 7, 2016

SAN DIEGO — Swift Real Estate Partners has purchased a three-property office portfolio in the San Diego submarket of Carlsbad for $30.4 million. The acquisition includes the 61,578-square-foot Carlsbad Airport Plaza; the 53,982-square-foot Camino West Corporate Park; and the 80,506-square-foot La Place Court. The portfolio was about 65 percent leased at the time of sale. Swift represented itself in this transaction, while CBRE’s Louay Alsadek, Hunter Rowe, Andrew Taylor, Roger Carlson and Larry Cambra represented the seller, Brandywine Realty Trust. Carlson and Cambra were retained by Swift to handle the leasing for Camino West Corporate Park.

January 7, 2016

California Retail Western

NGKF Adds Eight to Western Retail Brokerage Team

by Nellie Day January 7, 2016

LOS ANGELES — Newmark Grubb Knight Frank (NGKF) has added eight professionals to the firm’s retail brokerage team specializing in the sale and leasing of suburban retail product in Southern California and the western region. Additions include Pete Bethea, executive managing director; Rob Ippolito, senior managing director; and Glenn Rudy, managing director, who will continue their capital markets focus on selling shopping centers for institutional clients and public and private investment companies in key western markets; John Jennings and Chris Walton, senior managing directors; Aaron Hill, managing director; and Justin Wessel and Kevin Hanson; associates. The combined leasing portfolio consists of over 9.3 million square feet covering a large portion of the region and throughout Southern California including San Diego, Orange County, Los Angeles and Inland Empire.

January 7, 2016

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