California

ASB, Blatteis & Schnur Break Ground on At Mateo Mixed-Use Project in Los Angeles

by Nellie Day October 29, 2015

LOS ANGELES — ASB Real Estate Investments and Blatteis & Schnur have broken ground on At Mateo, an $80 million mixed-use project in downtown Los Angeles. The project will be located at the corner of Palmetto and Mateo streets in the Arts District. At Mateo will include nearly 125,000 square feet of open-air retail and 50,000 square feet of creative office space that will be situated in four buildings on a former 3.5-acre industrial site. It will be designed with re-purposed materials, including bricks, cobblestones and laminated beams, as a homage to the Arts District. The project will eventually include 30 to 35 chef-driven restaurants, eateries, boutiques and retail stores. At Mateo is scheduled for completion in the fourth quarter of 2016. Architect Keith Ray master planned the development.

October 29, 2015

California Loans Retail Western

NorthMarq Capital Arranges $42M Refinancing of Nordahl Marketplace

by Nellie Day October 29, 2015

SAN MARCOS, CALIF. — NorthMarq Capital has arranged the $42 million refinancing of Nordahl Marketplace, a 304,801-square-foot retail property located in San Marcos. Ory Schwartz of NorthMarq arranged the fully amortizing, 25-year term loan for the borrower through a life insurance company. The center is home to 25 tenants including Walmart, Kohl’s, Guitar Center and Starbucks Coffee.

October 29, 2015

California Retail Western

Avison Young Completes Three Retail Leases at Los Angeles Residential Tower

by Nellie Day October 29, 2015

LOS ANGELES — Avison Young has completed three retail leases within Level DTLA, a 303-unit corporate housing tower in the Financial District of downtown Los Angeles. Leases include a 4,177-square-foot SoulCycle, a 2,601-square-foot Sakana Sushi and a 1,416-square-foot Cognoscenti Coffee. Derrick Moore and Amit Parekh of Avison Young represented the landlord, Canada-based Onni Group, as well as Cognoscenti Coffee and Sakana Sushi in the transactions. CBRE represented SoulCycle.

October 29, 2015

California Loans Retail Western

Envoy Finances Vacant Denny’s in Northern California

by Nellie Day October 29, 2015

AUBURN, CALIF. — Envoy Net Lease Partners LLC has financed a first mortgage bridge loan for a 5,500-square-foot, single-tenant net lease Denny’s restaurant in Auburn, approximately 30 miles northeast of Sacramento. The property, which is currently vacant, is located on an outparcel in front of the highest-grossing grocery store in Auburn, and is one of the last remaining outparcels in the market.

October 29, 2015

California Office Western

UCLA Health Signs Long-Term Lease in Rolling Hills Estates

by Nellie Day October 28, 2015

ROLLING HILLS ESTATES, CALIF. — UCLA Health has signed a long-term lease for 18,512 square feet at an office building in Rolling Hills Estates on the Palos Verdes Peninsula. The 10-year lease is valued at $5.2 million. This lease brings the Class A office building to full occupancy. It is located at 501 Deep Valley Drive. Eric Lastition and Geoff Ludwig of Colliers International represented the landlord, West Coast Capital Partners.

October 28, 2015

California Multifamily Western

Zian Buys Santa Monica Apartment Building for $2.2M

by Nellie Day October 28, 2015

SANTA MONICA, CALIF. — Zian has purchased a six-unit apartment building in Santa Monica for $2.2 million. The community is located at 1830 12th Street. It was built in 1959. The property is situated near Santa Monica College, Main Street Shops, the Santa Monica Pier and the new Light Rail Metro line. Kimberly Roberts Stepp of Stepp Commercial represented the seller, 2820 3rd Street LLC.

October 28, 2015

California Office Western

Bank of America Leases Space Near Newport Beach’s Fashion Island

by Nellie Day October 28, 2015

NEWPORT BEACH, CALIF. — Bank of America has leased 88,000 square feet of office space in Newport Beach. The space is located at 520 Newport Center Drive. It is directly across from Fashion Island. Merrill Lynch, Private Banking and Investments, Commercial and Business Banking, will occupy the space. The landlord is Irvine Company Office Properties.

October 28, 2015

California Office Western

Abrams Artists Agency Leases 15,650 SF at the Pacific Design Center in Los Angeles

by Nellie Day October 28, 2015

LOS ANGELES — Abrams Artists Agency has leased 15,650 square feet at the Pacific Design Center’s RedBuilding in Los Angeles. The center is located at 8687 Melrose Ave. Abrams is a talent and literary agency. It represents up-and-coming acting talent, as well as established celebrities in film, television and theater. Robert Cavaiola of Savills Studley represented the firm. The landlord, Cohen Brothers Realty, was represented in-house by Marc Horowitz, as well as by JLL’s Josh Wroble.

October 28, 2015

California Hospitality Loans

Bank of China USA Provides $87M Loan to Loews Regency San Francisco

by Nellie Day October 27, 2015

SAN FRANCISCO — Bank of China USA has provided an $87 million loan to the 155-room Loews Regency San Francisco. The planned use of the financing was not disclosed. The hotel was formerly known as the Mandarin Oriental San Francisco, and converted to the Loews Regency brand after Loews Hotels purchased the asset in April. Loews Regency San Francisco is located on floors 11 through 48 of 345 California Center at 222 Sansome St. in the Financial District. It is within walking distance of Union Square and Fisherman’s Wharf. The hotel features Brasserie S&P, more than 5,000 square feet of meeting space and a new 8,000-square-foot spa and fitness center. JLL’s Mike Huth, John Manning, Kevin Davis and Alex Witt arranged the transaction.

October 27, 2015

California Multifamily Western

Fred Sands of Sands Realtors, Vintage Capital Group Passes Away

by Nellie Day October 27, 2015

LOS ANGELES — Fred Sands, the founder of Fred Sands Realtors and Vintage Capital Group, died Friday, Oct. 23. He was 77. Sands became Coldwell Banker’s top-producing real estate agent in 1968 before opening his first Fred Sands Realtors office in Brentwood. The business became the second largest real estate and financial services company in California. It owned and operated entities in title insurance, home warranty, mortgage banking and escrow. Fred Sands Realtors employed 4,000 people throughout its network of offices and franchised operations, generating $9.4 billion in sales volume annually. Sands eventually opened more than 72 offices across California and Nevada before Coldwell Banker acquired the company in 2000. He then headed up Vintage Capital Group in 2001. Sands is survived by his wife, Carla, and his son and daughter, Jonathan and Alexandra.

October 27, 2015

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