Western

CA Student Living Completes Seven Student Housing Developments Totaling 3,600 Beds

by Nellie Day September 5, 2017

TEMPE, ARIZ. — Chicago-based CA Student Living has completed seven student housing communities comprising more than 3,600 beds. Located in six different states, the communities opened throughout August and, together, are 96 percent leased for the upcoming academic year. Recent deliveries include RISE on Apache, an 833-bed community located near Arizona State University in Tempe; Identity Reno, a 325-bed community located near the University of Nevada, Reno in Reno; and Uncommon Fort Collins, a 247-bed community located near Colorado State University in Fort Collins, among other communities. CA Student Living plans to complete another seven communities comprising 2,200 beds in 2018 and an additional eight properties with 4,100 beds in 2019.

September 5, 2017

Montana Multifamily Student Housing Western

Campus Advantage to Manage 498-Bed Community Near the University of Montana

by Nellie Day September 5, 2017

MISSOULA, MONT. — Campus Advantage has been awarded management of ROAM, a 498-bed student housing community currently under development near the University of Montana in Missoula. The property is the first purpose-built student housing complex to serve the University of Montana, according to Campus Advantage. Shared amenities will include a bike and ski tuning shop, outdoor kitchens with grilling stations, a fire pit and an expansive fitness center. Austin-based Catalyst will also manage brand development alongside Campus Advantage. The property is scheduled to open next fall.

September 5, 2017

California Retail Western

Casper to Open 15 Pop-Up Mattress Shops Across North America

by Nellie Day September 5, 2017

LOS ANGELES — Casper, an online mattress retailer, has launched a multi-city retail expansion in more than a dozen locations across North America, including Los Angeles. This marks Casper’s first significant investment in a company-owned retail presence across the U.S. The new shops will showcase Casper’s offerings, including allowing shoppers to experience the mattresses, pillows and sheets. The pop-up shops are scheduled to launch in October 2017 and will be open through spring of 2018 in Los Angeles, New York, Chicago and other major metropolitan areas.

September 5, 2017

California Multifamily Seniors Housing Western

CareTrust, HCP Escape Hurricane Harvey with Little Property Damage, Four Evacuations

by Jeff Shaw September 1, 2017

IRVINE and SAN CLEMENTE, Calif. — Two major healthcare REITs — Irvine-based HCP Inc. (NYSE: HCP) and San Clemente-based CareTrust REIT Inc. (NASDAQ:CTRE) — have separately announced that none of their properties in Texas received any significant damage due to Hurricane Harvey. However, HCP did note that three of its seniors housing communities were evacuated. CareTrust evacuated one property as well. Harvey swept through the country this week, causing major flooding, particularly in the Houston metro. HCP’s preliminary assessment indicates “either no or limited damage due to Hurricane Harvey.” The company did evacuate three seniors housing communities due to some water intrusion. Remediation work has already begun, with re-opening expected in a few days. HCP also noted that all damage to its properties will be covered by insurance. “Our thoughts go out to the many people impacted by this devastating storm,” commented Tom Herzog, HCP’s president and CEO. “Brookdale and our other operating partners, along with our on-site teams, were well-prepared and continue to work diligently to ensure the safety of our residents and tenants.” CareTrust reported that its seven properties in the area experienced no damage, but did evacuate The Courtyard Rehabilitation and Healthcare Center in Victoria, Texas, due …

September 1, 2017

California Retail Western

Perfumania Files for Chapter 11, Plans to Close 24 Western Stores

by Nellie Day September 1, 2017

SAN FRANCISCO — Store closing sales are underway at select Perfumania store locations. The nationwide sale is being conducted by Gordon Brothers and its joint venture partner, Hilco Global. Perfumania, one of America’s largest fragrance retailers, filed for Chapter 11 bankruptcy protection on August 26, 2017 as part of a recapitalization. While Gordon Brothers and Hilco Global will be liquidating the inventory for 65 stores nationwide, Perfumania will continue operating over 150 of its stores. West Coast locations set to close include: Anchorage 5th Avenue Mall in Anchorage, Alaska Tucson Mall in Tucson, Ariz. Paradise Valley Mall in Phoenix Chandler Fashion Center in Chandler, Ariz. Tucson Premium Outlets in Tucson, Ariz. Serramonte Center in Daly City, Calif. Las Americas Premium Outlets in San Diego The Outlets at Orange in Orange, Calif. Outlets at San Clemente in San Clemente, Calif. The Oaks Mall in Thousand Oaks, Calif. Camarillo Promenade in Camarillo, Calif. Plaza West Covina in West Covina, Calif. Desert Hills Premium Outlets in Cabazon, Calif. Gilroy Premium Outlets in Gilroy, Calif. Westfield Palm Desert in Palm Desert, Calif. Westfield San Francisco Centre in San Francisco Chula Vista Center in Chula Vista, Calif. Fashion Outlet of Las Vegas in Primm, Nev. …

September 1, 2017

Colorado Industrial Western

Majestic Realty Breaks Ground on Spec Warehouse, Distribution Facility in Aurora

by Nellie Day September 1, 2017

AURORA, COLO. — Majestic Realty Co. has broken ground on a 701,900-square-foot speculative warehouse/distribution facility in Aurora. Nicknamed the “Big Bomber,” the building will be the state’s largest facility of its kind once it’s completed in early 2018. The building is being constructed on 36 acres at the 1,500-acre Majestic Commercenter, situated at the intersection of I-70 and Tower Road. It will feature 36-foot ceiling clearance, 146 dock doors, 198 trailer parking spaces and 426 car spaces. Designed for larger users, the facility will be divisible for multiple tenants who require as little as 150,000 square feet. Majestic has been Aurora’s largest industrial developer over the past two decades.

September 1, 2017

California Retail Western

Young Hickory to Open at IDEA1 Mixed-Use Development in San Diego

by Nellie Day September 1, 2017

SAN DIEGO — CBRE has announced that Young Hickory — a café offering local coffee, craft beer, breakfast and lunch — will open a 1,577-square-foot location at IDEA1, a mixed-use development by Lowe Enterprises, LaSalle Investment Management and I.D.E.A. Partners in San Diego’s East Village neighborhood. The development, which opens in December, will feature a mix of apartment homes, live/work lofts, retail and an outdoor collaborative workplace. CBRE’s Reg Kobzi and Michael Peterson represented the tenant and the landlord, IDEA1 Property LLC, on the 10-year lease.

September 1, 2017

California Loans Multifamily Western

Capital One Provides $49.8M Refinancing for Riverview Springs Apartments in Oceanside

by Nellie Day August 31, 2017

OCEANSIDE, CALIF. — Capital One has provided a $49.8 million loan to refinance the 358-unit Riverview Springs apartments in Oceanside. The community is located at 4398 Rainier Way. Riverview Springs was built by Spruce Grove in 1990. The 10-year, fixed-rate, interest-only, Freddie Mac loan has standard defeasance prepayment. Chuck Christensen originated the financing.

August 31, 2017

California Multifamily Western

Pathfinder Partners Purchases 195-Unit Apartment Complex in Sacramento for $22M

by Nellie Day August 31, 2017

SACRAMENTO, CALIF. — Pathfinder Partners has acquired the 195-unit Savannah Court apartments in Sacramento for $22 million. The community is located at 4337 Norwood Ave. The 24-buillding community was built in 1986. Amenities include a fitness center, swimming pool and spa and a tennis court. CBRE’s Marc Ross represented both Pathfinder and the seller in this transaction.

August 31, 2017

Arizona Industrial Western

IPT Acquisitions Buys Last-Mile Logistics Center in Chandler for $10.7M

by Nellie Day August 31, 2017

CHANDLER, ARIZ. — IPT Acquisitions has purchased a 91,204-square-foot last-mile logistic center in Chandler for $10.7 million. The center is located at 550 E. Elliot Road. Amazon occupies the property. Will Strong, Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield represented the seller, Globe Management Co., in this transaction.

August 31, 2017

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