Western

Vintage Real Estate Signs New Forever 21 Concept to SouthBay Pavilion in Carson

by Nellie Day May 20, 2016

CARSON, CALIF. — Vintage Real Estate has signed F21 RED, Forever 21’s latest store concept, at SouthBay Pavilion located at 20700 Avalon Blvd. in Carson. Slated to open in spring 2017, the new concept offers a larger selection of the retailer’s most popular lines, including Forever 21, Forever 21 Men, Forever 21 Plus and Forever 21 Kids, at lower prices. Currently 98 percent leased, IKEA, JCPenney, Sears and Target anchor SouthBay. Additional tenants include Olive Garden, Pieology, Buffalo Wild Wings, Cinemark, Sephora, Old Navy, rue21, Wing Stop and Payless Super Store. Edge Realty Partners represented Forever 21 in the deal.

May 20, 2016

California Retail Western

Marcus & Millichap Arranges $4M Acquisition of Long Beach Retail Property

by Nellie Day May 20, 2016

LONG BEACH, CALIF. — Marcus & Millichap has arranged the sale of a retail property located at 425 W. Anaheim St. in Long Beach. A private investor acquired the 7,296-square-foot property for $4 million. Situated on a 27,277-square-foot lot, the property was built in 2006. James Yang of Marcus & Millichap secured and represented the buyer in the deal.

May 20, 2016

Loans Multifamily Washington Western

Newmark Realty Arranges $44.2M Construction Loan for Multifamily Community in Seattle

by Nellie Day May 19, 2016

SEATTLE — Newmark Realty Capital has arranged $44.2 million in construction financing for a 206-unit multifamily development in the South Lake Union area of Seattle. The Class A community will be called 624 Yale Apartments. It is scheduled for completion in November 2017. The project also contains 3,090 square feet of retail space. Brian Bonipart of Newmark Realty Capital arranged the financing.

May 19, 2016

California Multifamily Western

Tesoro Apartment Homes in Redlands Sells for $27.7M

by Nellie Day May 19, 2016

REDLANDS, CALIF. — An unnamed buyer has purchased the 188-unit Tesoro Apartment Homes in Redlands for $27.7 million. The community is located at 106 W. Pennsylvania Ave., about a mile from the University of Redlands. Tyler Leeson and Alex Mobin of Marcus & Millichap represented the buyer, while IPA’s Alexander Garcia, Stewart Weston, Christopher Zorbas, David Sperling and John Montakab represented the unnamed seller.

May 19, 2016

California Office Western

DivcoWest Buys Office Complex in San Ramon

by Nellie Day May 19, 2016

SAN RAMON, CALIF. — DivcoWest has purchased Plaza San Ramon, a 312,000-square-foot office complex in the Silicon Valley submarket of San Ramon, for an undisclosed sum. The Class B complex is located at 2000-2010 Crow Canyon Place. The two-building plaza is currently 85 percent leased. It was built in the late 1980s and renovated by the prior owner in 2008. DivcoWest plans to implement a capital improvement program designed to reposition the asset as a Class A location for small- and mid-sized tenants.

May 19, 2016

California Office Western

Medical Office Building in San Diego Sells for $4M

by Nellie Day May 19, 2016

SAN DIEGO — 2100 Fifth Avenue LLC has purchased a 10,976-square-foot medical office building in San Diego for $4 million. The building is located at 5776 Ruffin Road. Paul Braun and Chris Ross of JLL Healthcare Practice Group represented the buyer. Don Mitchell and Ryan Mitchell of Cresa San Diego represented the seller, AMEN Ruffin Road LLC, in this transaction.

May 19, 2016

Loans Multifamily Washington Western

Harborview Capital Partners Closes $30.7M in West Coast Multifamily Loans

by Nellie Day May 19, 2016

SEATTLE AND PALM SPRINGS, CALIF. — Harborview Capital Partners has arranged six multifamily loans throughout the West Coast for a total of $30.7 million. The communities contain a total of 343 units in Seattle and Palm Springs. All of the transactions provided cash out to the borrower. The loans included a mix of agency, CMBS and traditional bank financing. Jeff Fuchs of Harborview’s Lawrence, N.Y., office arranged the loans on behalf of an unnamed, Seattle-based client.

May 19, 2016

Arizona Multifamily Western

Weidner Acquires The Reserve at Arrowhead in Phoenix for $64.5M

by Nellie Day May 18, 2016

PHOENIX — Weidner Apartment Homes has acquired The Reserve at Arrowhead, a 472-unit multifamily asset in Phoenix, for $64.5 million. The community is located at 7701 W. St. John Road. Mark-Taylor Inc. developed the property between 1998 and 1999. The Reserve at Arrowhead is within walking distance of Arrowhead Towne Center, a 1.2 million-square-foot super-regional mall. Notable employers in the area include Joseph’s Westgate Medical Center, Luke Air Force Base, AAA, the City of Glendale, Honeywell, Humana Healthcare, Midwestern University, Conair Corp. and the Thunderbird School of Global Management. Steve Gebing and Cliff David of Marcus & Millichap’s National Multi Housing Group represented both the buyer and the seller, an institutional investment management firm, in this transaction.

May 18, 2016

California Industrial Western

New York Life Buys 609,888 SF Distribution Center in Rialto

by Nellie Day May 18, 2016

RIALTO, CALIF. — New York Life Real Estate Investors has purchased a 609,888-square-foot distribution center in Rialto for an undisclosed sum. The Class A center is situated at the northeast corner of North Locust and West Bohnert avenues. It is known as CapRock Distribution Center I. The center was recently completed by CapRock Partners, which acquired, entitled and developed the site over 18 months. New York Life Real Estate Investors is the real estate investment arm of NYL Investors, a subsidiary of New York Life Insurance Co. Paul Earnhart, Jeff Smith, Brian Pharris, Steve Haston and Ryan Lal at Lee & Associates executed the transaction.

May 18, 2016

California Loans Office Western

IPA Capital Markets Arranges $50M Refinancing for Office Building in Beverly Hills

by Nellie Day May 18, 2016

LOS ANGELES — Institutional Property Advisors Capital Markets has arranged a $50 million refinancing for a 168,764-square-foot office tower in Beverly Hills. The 12-story tower is situated within the Golden Triangle area. It was first high-rise building erected on Wilshire Boulevard in the 1970s. The cash-out loan refinanced a 25-year, fixed-rate loan. The new non-recourse loan features a 15-year, 3.75 percent fixed rate with interest-only payments. Jake Roberts and Anita Paryani Rice of Institutional Property Advisors Capital Markets arranged the loan.

May 18, 2016

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