PALO ALTO AND REDWOOD CITY, CALIF. — Natixis has provided a $75 million loan to Pollock Realty Corp. to refinance three office buildings in Silicon Valley. The refinance included an 81,031-square-foot property in the Stanford Research Park in Palo Alto; a separate, 56,279-square-foot building in Stanford Research Park in Palo Alto; and a 34,796-square-foot building in the Redwood Shores region of Redwood City. Gregory Gray of Barry Slatt Mortgage arranged the financing, which was originated out of Natixis’ Los Angeles office.
LAS VEGAS — Hamilton Zanze has purchased the 232-unit Alicante Villa Apartments in Las Vegas for $35.5 million. The community is located at 4370 S. Grand Canyon Drive. Alicante Villa was built in 2001 four miles from downtown Summerlin. CBRE’s Jeffrey Swinger represented the seller, Kislak, in this transaction.
LAKEWOOD, WASH. — Security Properties has acquired the 267-unit Beaumont Grand apartments in Lakewood for $35.2 million. The community is located at 8504 82nd St. SW. It is situated near the Port of Tacoma and Joint Base Lewis-McChord, a U.S. military installation supporting more than 66,000 jobs. The property is 95 percent leased. HFF’s Ira Virden and Chris Ross represented the seller, Grand Peaks Properties, and its finance partner, Pacific Coast Capital Partners, in this transaction.
LAS VEGAS — Alston Construction has completed a 68,875-square-foot, built-to-suit facility for 3G Productions in Las Vegas. The new facility is located on 5.4 acres at the corner of Euclid Avenue and Russell Road. The firm completed a 51,400-square-foot concrete tilt up building with a 16,875-square-foot steel/concrete deck mezzanine to be used in the future by the owner. PFIILP Eastern Russell 70 LLC owns the $9 million project. 3G Production will offer the facility as a corporate event venue.
SACRAMENTO, CALIF. — Monticello Asset Management, through one of its investment vehicles, has participated in a $14.3 million bridge-to-HUD loan to 2200 Gramercy Drive LLC. The borrower will use the funds to acquire an assisted living and skilled nursing facility in Sacramento. Built in 1991, the seller is a private owner planning to retire. The property features 85 assisted living beds and 120 skilled nursing beds. The operator of the facility plans to implement a $2 million capital improvement plan throughout the facility. Improvements include new floors, wallpaper and beds, along with upgrades to technology, the rehabilitation gym, lighting and the dining room, among other improvements.
CULVER CITY, CALIF. — Quantum Capital Partners has arranged $47 million in refinancing for Platform, a 75,000-square-foot office and retail property located in the Hayden Tract district of Culver City. The borrower, Runyon Group, will use the proceeds to retire construction debt and equity on the property, which was completed in late 2016. Mike Yim and Jonathan Hakakha of Quantum arranged the 10-year, non-recourse loan through Wells Fargo for the borrower. The 75,000-square-foot project features approximately 40,000 square feet of office space and 35,000 square feet of retail and restaurant space. The retail portion is currently 98 percent leased to a variety of tenants including Reformation, Magasin, SoulCycle, The Shop, Loqui, Blue Bottle Coffee, Van Leeuwen, Sweetgreen and The Cannibal.
SANTA ROSA, CALIF. — Cushman & Wakefield has negotiated Anvil Development’s acquisition of four acres in Santa Rosa, just north of San Francisco, for $1.5 million. The developer plans to build a 59-bed skilled nursing facility on the property. A.J. Ventures sold the plot. The skilled nursing facility will be 37,000 square feet once completed. The Cushman & Wakefield team of Travis Ives, Matt Davis, Terry Jackson and Curtis Buono represented the buyer in the transaction.
LOS ANGELES — CBRE has arranged the sale of a single-tenant retail building located in Los Angeles. An Orange County, Calif.-based family partnership sold the building to a Los Angeles-based private investor for $17.9 million. Numero Uno Markets occupies the 24,575-square-foot building on a long-term, triple-net corporate lease. Arthur Flores of CBRE represented the seller, while Janet Newman of Charles Dunn Co. represented the buyer in the deal.
WEST COVINA, CALIF. — CalBay Development has purchased a restaurant site at the Plaza West Covina Mall in West Covina for $5.5 million. Elephant Bar previously occupied the space, but vacated in late 2016. The property, which also includes a freestanding Pacific Western Bank, totals 1.75 acres and 11,500 square feet of gross leaseable area. The Kozakov-Wade team of CBRE/Los Angeles represented the sellers, a private family and heirs of the original property developer in the deal.
YUCAIPA, CALIF. — Progressive Real Estate Partners has arranged the sale of Yucaipa Plaza, a retail and office property located at 34469-79 Yucaipa Blvd. in Yucaipa. An Orange County, Calif.-based private investor sold the property to a Los Angeles-based private investor for $3.5 million. Built in 1970, the 37,453-square-foot building features ground-floor retail space and office space on the second floor. Current tenants include Papa John’s Pizza, Boost Mobile and Allstate. Greg Bedell and Pablo Velasco of Progressive Real Estate Partners represented the seller and buyer in the deal.