ANCHORAGE, ALASKA — Rooflifters USA has completed a 25,200-square-foot roof raising that will allow Dave & Busters to open at the Dimond Mall in Anchorage. The mall modified the space and raised the roof about six feet. The larger height allows tenants like movie theaters, big-box retailers and climbing-wall facilities to occupy spaces that most traditional retail locations are unable to initially accommodate. The actual roof raising was done overnight. It’s part of a massive reconfiguration for the Dimond Center remodel and expansion project. The 44,000-square-foot Dave & Buster’s is slated to open in 2018.
LAGUNA NIGUEL, CALIF. — Keystone Mortgage Corp. has secured a $60 million refinancing for Plaza de la Paz, a 295,000-square-foot shopping center located in the Orange County community of Laguna Niguel. The center is home to 45 tenants including The Home Depot, Sprouts Farmers Market, CVS/pharmacy and Off Broadway Shoes. Keystone placed the 15-year, fixed-rate loan through an insurance company on behalf of the borrower, a local family office.
VANCOUVER, WASH. — Capital One has provided a $41.1 million first mortgage loan and a $5 million senior credit facility for Prestige Care, a Vancouver-based owner-operator. The company used the mortgage loan to acquire four senior housing and skilled nursing facilities in Washington and Idaho, as well as to refinance three facilities it owns in Oregon and Washington. Together, the facilities total 751 units. Prestige will use the revolver to support general corporate purposes and working capital needs. Prestige is acquiring: Colonial Vista in Wenatchee, Wash. Hearthstone Cottage of Ellensburg in Ellensburg, Wash. Hearthstone Cottage of East Wenatchee in East Wenatchee, Wash. Karcher Estates in Nampa, Idaho The company is refinancing: Coast Fork Nursing in Cottage Grove, Ore. Oregon City in Oregon City, Ore. Prestige Assisted Living at Hazel Dell in Vancouver, Wash. Founded in 1985, Prestige Care operates a portfolio of more than 80 senior care communities in eight Western states. It specializes in revamping facilities in rural, medium-sized markets.
GLENDALE, ARIZ. — CBRE has arranged $20.2 million in construction financing for MorningStar of Glendale, a 144-unit independent living, assisted living and memory care community in Glendale, approximately nine miles north of Phoenix. The borrower is a joint venture between MorningStar Senior Living, N-Shea Group and an institutional equity partner. This will be MorningStar’s fourth community in the Phoenix metro area. MorningStar will operate the community once it’s completed. CBRE secured the four-year, floating-rate loan with 42 months of interest-only payments through a regional bank. Aron Will arranged the financing.
LAKE ELSINORE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $11.6 million sale of Oak Grove Crossing, a 22,577-square-foot shopping center located in Lake Elsinore. The Target shadow-anchored property is home to tenants including McDonald’s, Starbucks Coffee, GameStop, GNC, H&R Block, Pacific Dental, Papa John’s Pizza, Subway, Supercuts, Verizon and Yogurtland. Kevin Fryman of Hanley Investment Group represented the seller, a Murrieta, Calif.-based private investment partnership. Jeff Lefko and Bill Asher, also of Hanley, represented the buyer, an Orange, Calif.-based family trust.
SAN DIEGO — Shea Properties has signed seven new tenants to open at Mercado del Barrio, a mixed-use center located in the Barrio Logan neighborhood of San Diego. Tenants set to open include Actitude Cerveceria, a first-to-market gastropub and brewery; Barrio Bros, a craft beer and pizza restaurant; Oi Asian Fusion, a cooked-to-order concept influenced by Filipino, Korean, Japanese, Taiwanese, Chinese and American soul food cuisines; Partners Personnel, a staffing agency; Pho Bo, a Vietnamese rice noodle soup café; Taqueria Revolucion, a local street taco restaurant; and Posh & Polished Nail Lounge. The property is anchored by a 36,000-square-foot Northgate Market, and home to tenants including Mariscos el Pulpo, Little Caesars, T-Mobile, Asia Wok, Fade Factory, Iron Fist Brewing Co., National Laundry & Dry Cleaning, Sally Beauty and Tocumbo Ice Cream & Tortas.
LAS VEGAS — SR Construction has completed construction of two of the Las Vegas Valley’s first neighborhood hospitals, North Las Vegas Campus and Blue Diamond Campus. The projects are a joint venture between Dignity Health and Emerus. The North Las Vegas Campus Neighborhood Hospital is located at 1550 W. Craig Road in North Las Vegas and was the first to be built in the state. The three-story building houses a licensed hospital on the first floor with 16 patient rooms. The hospital also has a diagnostic imaging suite, lab, inpatient waiting room, and space for primary care and specialty physicians, in addition to a wellness center. The Blue Diamond Campus Neighborhood Hospital is located at 4855 Blue Diamond Road. It was the second of four facilities to open. The 27,000-square-foot, two-story building mirrors a similar layout housing a licensed hospital on the first floor. It also has a diagnostic imaging suite, lab, inpatient waiting room and space for primary care and specialty physicians, in addition to a wellness center located on the second floor.
PHOENIX — A joint venture between an institutional investor and Everest Holdings has purchased Foothills Corporate Centre II, a 145,000-square-foot office building in Phoenix, for $18.4 million. The center is located at 14601-14605 S. 50th St. The property is 72 percent leased to three tenants: Level 3, DirecTV and ExhibitOne. It is situated just north of the future South Mountain Freeway, which is a 22-mile extension of the Loop 202 Freeway. JLL’s Brian Ackerman and Dan Postal represented the seller, Fort Properties Management, in this transaction. The firm’s Dave Seeger, Mark Gustin and Karsten Peterson will head up the project’s leasing efforts.
PHOENIX — Crescendo Development has purchased Foothills Health Center, a 53,310-square-foot medical office property in the Phoenix submarket of Ahwatukee, for $12.1 million. The property is located at 4510 and 4530 E. Ray Road. The center is 93 percent occupied. The larger building was developed in 1994 and refurbished in 2000, while the smaller building was developed in 2002. NKF represented Crescendo Development. Nicholas Pelusio and Kevin Helland of Avison Young represented the seller, United Insurance Company of America, in this transaction.
LOS ANGELES — Universe Holdings has acquired the 53-unit Nob Hill Towers in the Los Angeles submarket of Westlake for $12.6 million. The community is located at 2430 Ocean View Ave. Nob Hill was built in 1929. It features studio to three-bedroom units. The new owner plans to implement $917,000 in property improvements. These will include modernizing interiors with new flooring, appliance packages, counters and cabinets, in addition to updating exterior treatments with lighting, paint, enhanced common areas and new landscaping. The company also plans to convert dormant space in the basement level to a business center and fitness area.