California

ANOVA-Aggie-Square-Sacramento-CA

SACRAMENTO, CALIF. — A joint venture between GMH Communities and Wexford Science & Technology has completed ANOVA Aggie Square, a 252-bed development located on Stockton Boulevard near the University of California, Davis (UC Davis) campus in Sacramento. The community offers 190 units in a mix of studio, one-, two- and four-bedroom configurations. Shared amenities include a 2,500-square-foot fitness center with yoga and spin studios; soundproof office pods and private conference rooms; a coffee bar; wellness lounge with a sauna and massage chairs; 24-hour package system; game room with billiards; and an amenity patio with grilling stations. UC Davis Student Housing and Dining Services master leases 49 of the units and leases them at below-market rates. Priority for occupancy of these units is given to first-year medical, nursing and graduate students studying on the Sacramento campus. The remaining units are available for lease via GMH Communities, which operates the property, with priority given to university students, faculty and staff. The community was constructed during Phase I of Aggie Square, a larger mixed-use project that is set to include state-of-the-art research facilities and office space. 

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Bay-Bridge-Center-San-Diego-CA

SAN DIEGO — Juniper Ridge Partners has acquired Bay Bridge Center in San Diego from Jon and Donna Stockholm Trust for $10.4 million. Located at 1943-1995 Main St., Bay Bridge Center offers 38,300 square feet of mixed-use flex space. The five-building, multi-tenant asset is situated on 2.1 acres in San Diego’s Harbor/Downtown submarket. At the time of sale, Bay Bridge Center was fully leased to six tenants, including San Diego County Schools and Wrensilva, a high-end audio manufacturer. The property features 400 feet of frontage on Main Street and Harbor Drive, secure yard areas and proximity to a San Diego Trolley stop with immediate access to Interstate 5. Chris Holder, Mark Lewkowitz and Will Holder of Colliers represented the buyer and seller in the deal.

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Scripps Memorial La Jolla

SAN DIEGO — Locally based health system Scripps Health has completed the development of a new hospital located in the La Jolla neighborhood of San Diego. Construction costs totaled $664 million.  Dubbed Scripps Memorial Hospital La Jolla North Tower, the building totals 420,000 square feet across eight floors. The property is situated on the Scripps Memorial Hospital La Jolla campus, about 15 miles north of downtown San Diego. Designed by HGA Architects, the hospital building features 188 inpatient beds, a rooftop helistop, nine operating rooms, three interventional radiology suites, expanded imaging capabilities, a NICU (neonatal intensive care unit), labor and delivery section and postpartum services.  McCarthy Building Cos. served as the general contractor for the tower, which is directly connected to the Prebys Cardiovascular Institute, also constructed by McCarthy.  According to Scripps Health, the tower was planned and constructed over eight years. Financing for the project included a $2.5 million gift from philanthropist Barbara Smith.  Scripps Health, a $5 billion not-for-profit health system, operates four hospitals on five campuses.  — Hayden Spiess

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Citron-Apts-Anaheim-CA

ANAHEIM, CALIF. — MG Properties has purchased Citron Apartments, a multifamily community located at 901 E. South St. in Anaheim, for $144 million. Built in 2023, the four-story Citron features 314 apartments with modern finishes and upscale amenities. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing for the transaction through Freddie Mac. With this acquisition, MG has added 17 properties to its portfolio over the past 12 months, totaling more than $2.1 billion.

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Hillcrest-Apts-Thousands-Oaks-CA

THOUSAND OAKS, CALIF. — Affinius Capital has provided $54.7 million of preferred equity for the ground-up development of Hillcrest Apartments, a project The Latigo Group is developing in Thousand Oaks. The four-story property will feature ground-floor retail space and 333 units in a mix of one-, two- and three-bedroom floor plans. Amenities will include a rooftop terrace, pool, fitness center, coworking spaces, a multi-sport simulator and wellness center with a sauna and cold plunge. Latigo estimates the project will be complete by the first quarter of 2028. Bercut Smith of JLL arranged the financing.

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SANTA ANA, CALIF. — Terreno Realty has purchased an industrial building located at 3500 W. MacArthur Blvd. in Santa Ana from an undisclosed seller for $49.5 million. Situated on 12 acres, the 134,000-square-foot property features seven dock-high and three grade-level landing positions. At the time of sale, the facility was fully occupied by a major home improvement retailer and operated as a retail location.

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ANAHEIM HILLS, CALIF. — JCH Senior Housing Investment Brokerage has arranged the sale of an assisted living and memory care facility located in the Inland Empire region of Southern California. A local operator acquired the property for $14.1 million. Licensed for 100 beds, the facility features 86 units. Cindy Hazzard and Jim Hazzard of Anaheim, Calif.-based JCH represented both the buyer and seller in the transaction. 

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PHOENIX — Gantry has secured a $28.2 million permanent loan to refinance a portfolio of five manufactured housing communities in Arizona, California and Iowa. The fully stabilized assets feature a total of 687 pads across properties in Sierra Vista and Casa Grande, Ariz., Hemet and San Bernardino, Calif., and Atlantic, Iowa. Patrick Barkley and Chad Metzger of Gantry’s Phoenix production office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was provided by an institutional balance sheet lender and features full-term interest-only payments. Gantry will service the loan.

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14434-14480-Sherman-Way-Van-Nuys-CA

VAN NUYS, CALIF. — Duckhorn Partners has completed the disposition of a two-tenant retail property located at 14434-14480 Sherman Way in Van Nuys. Sherman Way 26 Properties LLC, a local private investor, acquired the asset for $11.4 million. Alex Kozakov and Pat Wade of CBRE represented the seller in the deal. Situated on 1.2 acres in the San Fernando Valley, the 18,296-square-foot property was built in 1995 and offers 70 parking spaces. A national healthcare provider and El Gallo Giro, a regional restaurant chain, both occupy the property under long-term triple-net leases.

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7-Eleven-Chino-CA

CHINO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $7 million sale of a newly constructed, 5,596-square-foot single-tenant retail property located within the master-planned community of The Preserve in Chino. A 7-Eleven convenience store — which also features a Laredo Taco Co. quick-service restaurant and 12 fuel pumps — occupies the site on a 15-year, triple-net-lease basis with 10 percent rental increases every five years. Jeremy McChesney and Andrew Sprowl of Hanley represented the developer and seller, Ledo Capital Group, in the transaction. Adam Bloom of Lee & Associates represented the buyer, a private investor. Hanley Investment Group has facilitated the sale of 52 7‑Eleven retail properties in the past six years.

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