TUCSON, ARIZ. — Cushman & Wakefield has arranged two sales totaling $7.7 million in Tucson. In the first deal, Pelican 9th LLC acquired Sonoran on 9th Apartments, a multifamily property located at 814 and 838 E. 9th St. in Tucson. SVP Holdings sold the 26-unit property for $4.6 million. Allan Mendelsberg and Daniel Leibsohn of Cushman & Wakefield | PICOR brokered the deal. In the second transaction, West Ina Center Marana Arizona LLC purchased a commercial building located at 3662 W. Ina Road in Tucson. Ina Meredith LLC sold the 8,917-square-foot asset for $3.1 million. Rob Tomlinson of Cushman & Wakefield | PICOR represented the buyer. Rick Volk of Volk Co. and Pete Villaescusa of CBRE represented the seller in the deal.
SPARKS, NEV. — Radiant Senior Living has acquired Arbors Memory Care, a seniors housing community in the Reno suburb of Sparks. The seller was the independent owner-operator of Arbors. The price was not disclosed. Radiant owns and operates 18 assisted living and memory care communities in the West.
LAS VEGAS — A joint venture between SunCap Property Group and Colony NorthStar has acquired a 40-acre development site located at the southeast corner of N. Las Vegas and N. Lamb boulevards in Las Vegas. The partnership plans to develop SunPoint Crossing, a Class A light industrial campus on the site. Spanning three buildings, the campus will feature 752,838 square feet of industrial space. Divisible to 35,000 square feet, the buildings will feature tilt-up concrete construction, 32-foot clear ceiling heights, ESFR sprinklers, dock-height and grade-level doors with trailer parking. Construction is slated to begin this summer for delivery of shell buildings in summer 2019. Jeremy Green and Tyler Ecklund of CBRE’s Las Vegas office is handling marketing for the development.
ELK GROVE, CALIF. — Koelsch Communities has announced plans for Laguna Springs Senior Community, a 240,000-square-foot seniors housing property in the Sacramento suburb of Elk Grove. Groundbreaking is scheduled for June for a planned opening in December 2019. Development costs were estimated at $71 million. Located on 11 acres, the project will feature The Park at Laguna Springs Independent Living and The Gardens at Laguna Springs Memory Care. The independent living portion will be a three-story building housing 135 apartments plus 16 single-story homes. The memory care portion can house up to 70 residents in various stages of memory loss. Koelsch Communities will manage the property upon completion. The company is developing the project in partnership with RJ Development, with Koelsch Construction acting as general contractor. Judy Koelsch and David Goularte of JSK Design will design the interiors.
RICHLAND, WASH. — CBRE has brokered the sale of Badger Mountain Ranch, a multifamily property located 451 Westcliffe Blvd. in Richland. Badger Mountain Apartments I LLC sold the property to Irvine, Calif.-based Starboard Realty Advisors for an undisclosed price. Built in 2013, the property features 176 apartment units in a mix of one-, two- and three-bedroom layouts. Phil Oester, Eli Hanacek, Joe Nydahl and Josh McDonald of CBRE represented the seller in the transaction.
DENVER — Nexus Commercial Real Estate has brokered the sale of Park Plaza Apartments, located at 2250 Josephine St. in Denver. Anchor Josephine LLC acquired the apartment building from Park Plaza Josephine LLC for $3.2 million. The 22-unit building features 20 one-bedroom units, one studio apartment and one two-bedroom unit. Adam Riddle of Nexus represented the seller, while Riddle and Austin Smith, also of Nexus, represented the buyer in the deal.
RENO, NEV. — The Wolff Company has announced plans for Revel Damonte Ranch, a 156-unit independent living community in Reno. The project will be located within the Damonte Ranch mixed-use community. It will be Arizona-based Wolff’s second community in Reno. Wolff plans to open Revel Damonte Ranch in 2020.
BELLEVUE, WASH. — Hodges Ward Elliott has arranged the sale of AC Hotel Seattle Bellevue/Downtown, a hotel located at 208 106th Place NE in downtown Bellevue. Ishin Aju Hotel Bellevue LLC acquired the hotel from WPPI Bellevue AC LLC for $87 million. The seven-story property, which opened in August 2017, features 234 rooms, two levels of underground parking, 1,487 square feet of meeting space, the AC Lounge, the AC Kitchen, the AC Store, the AC Library and a fitness center. Mark Elliott, John Sonnier, Michael DiPrima and Rick Rush of Hodges Ward Elliott represented the seller in the transaction.
LOS ANGELES — Jamison Properties has completed the development of Maya, a multifamily property located at 535 Kingsley Drive in Los Angeles’ Koreatown. Designed by Santa Monica, Calif.-based KFA, the seven-story property features 66 market-rate apartments and six affordable units in a mix of one- and two-bedroom layouts. On-site amenities include bicycle parking, clubhouse, gym, pool, courtyard and rooftop terrace.
HEBER CITY, UTAH — CBRE has secured an undisclosed amount of refinancing for Wasatch Commons Apartments, a 224-unit multifamily community located in Heber City. Andrew Behrens and Jesse Weber of CBRE’s San Francisco office secured the 10-year, interest-only, floating-rate Fannie Mae mortgage on behalf of the undisclosed owner. The property consists of 106 newly renovated one-, two- and three-bedroom units. Residences include walk-in closets, window coverings, private balconies/patios, air conditioning and in-unit washers and dryers. Community amenities include covered parking, a playground, barbecue areas, a heated swimming pool, a hot tub, clubhouse, 24-hour fitness room and guest parking.