SAN DIEGO — TH Real Estate, a division of TIAA Global Asset Management, has acquired BLVD63, a 1,379-bed student housing community located near San Diego State University. Community amenities include a clubhouse, media room, game room, fitness center and study lounges. The seller was not disclosed.
RIVERSIDE, CALIF. — CBRE has arranged a $16.7 million loan for Capitol Seniors Housing, which will use the capital to refinance debt on Welbrook Arlington, a seniors housing community in the Los Angeles suburb of Riverside. MBK Senior Living operates the community, which features 207 units of independent living, assisted living and memory care. Aron Will, vice chairman of CBRE National Senior Housing, arranged the non-recourse, 10-year, floating-rate loan with full-term interest-only payments through the company’s Fannie Mae DUS Multifamily loan origination program.
PORTLAND, ORE. — The Ashforth Co. and an unnamed institutional investor partner have sold Pacwest Center, a 30-story, 545,000-square-foot office tower in Portland’s central business district. The $170 million sale of Pacwest Center is Portland’s largest office transaction in 2016, according to HFF, which represented the seller in the transaction. HFF also procured the buyer, LPC Realty Advisors I LP, on behalf of a pension fund client. LPC Realty Advisors is an investment advisory affiliate of Dallas-based Lincoln Property Co. Completed in 1984, Pacwest Center is located at 1211 S.W. 5th Ave. within the 57-block Transit Mall, which has more than 1 million square feet of development currently underway. The office tower features parking for 413 vehicles through valet and self-parking and is an Energy Star-rated building. The new ownership plans to renovate PacWest Center by modernizing the common spaces, main lobby and shared amenities. The tower was 76 percent leased at the time of sale to tenants such as Merrill Lynch, Markowitz Herbold, Schwabe, Key Bank of Oregon and Perkins & Co. Nick Kucha and Michael Leggett led the HFF investment sales team. Based in Stamford, Conn., The Ashforth Co. owns, develops and invests in assets on the East …
SCOTTSDALE, ARIZ. — Clear Sky Capital EBH LLC has acquired the 164-unit Tatum Place apartment community in Scottsdale for $18 million. The community is located at 16801 N. 49th St. Tatum Place was built in 1984. Amenities include two swimming pools, sun decks, a spa, fitness center, gas barbecue grills and picnic area, laundry facility, gated access and covered parking. David Fogler and Steven Nicoluzakis represented the seller, NNC Tatum Place, in this transaction.
YORBA LINDA, CALIF. — Berkeley Partners has purchased Yorba Linda Business Park, a 117,760-square-foot industrial facility, for $17 million. The four-building property is located at 22343, 22345, 22347 and 22349 La Palma Ave. Notable tenants at the park include the Well, Canyon Crossfit, Global Powersport Resource, CaliRovers LLC and Central Enterprises. Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez and Nico Napolitano of Cushman & Wakefield’s National Industrial Advisory Group represented both the buyer and seller in this transaction, with Rick Ellison providing local market advisory.
LOS ANGELES — A joint venture between Harbor Associates and the Bascom Group has purchased Conejo Spectrum, a 159,186-square-foot office and flex portfolio in the Los Angeles submarket of Thousand Oaks, for an undisclosed sum. The two-building property is located at 1525 and 1535 Rancho Conejo Blvd. The buyers plan to reposition and lease up the asset through a rebranding and renovation program that includes spec suites, a fresh paint scheme, modern lobbies, drought-tolerant landscaping and signage. Sean Fulp of NGKF represented the seller in the transaction.
LITTLETON, COLO. — A joint venture between PCCP and Griffis Residential has acquired the 332-unit Monterey Apartments in Littleton for an undisclosed sum. The new owners will rebrand the community as Griffis Marston Lake. It is located at 4601 S. Balsam Way. The joint venture plans to renovate the clubhouse, fitness center, pool and spa, and upgrade the community landscaping. Unit interiors will be upgraded with vinyl plank floors in kitchens, living rooms and bathrooms, new kitchen cabinet faces, quartz countertops and stainless steel appliances. Notable employers in the area include Lockheed Martin, the Denver Federal Center, the National Renewable Energy Lab and St. Anthony’s Hospital.
SAN MARCOS, CALIF. — Ccare has leased 20,230 square feet of medical office space at Nordahl Medical Centre in the San Diego submarket of San Marcos. The Class A building is located at 838 Nordahl Road. The space will serve as a clinic for Ccare’s oncology and hematology practice. Nordahl Medical Centre was developed by Newport National Corp. JLL’s Paul Braun, Chris Ross and Kelly Moriarty represented the landlord. CBRE’s Lars Eisenhaur and Dan Yeilding represented Ccare.
LOS ANGELES — A joint venture between Angelo, Gordon & Co. and Lincoln Property Co. has purchased LNR Warner Center IV, a 510,105-square-foot office property in the Los Angeles submarket of Woodland Hills, for $147 million. The property includes two Class A office buildings, as well as a 0.88-acre land parcel that can accommodate a 7,500-square-foot retail building. LNR Warner Center IV is located at 21255 and 21215 Burbank Blvd. It is the newest phase in LNR Warner Center’s four-phase, master-planned office campus, which includes 1.3 million square feet in seven office buildings. Notable tenants include Activision, New York Life Insurance, Wells Fargo, United Online and Kaiser Permanente. Kevin Shannon, Ken White, Rob Hannan and Laura Stumm of NGKF Capital Markets, along with JLL’s Dan Sanchez, represented both the buyer and seller in this transaction. David Milestone and Scott Selke of NGKF Capital Markets arranged acquisition financing on behalf of the buyers.
PALO ALTO, CALIF. — Greystone has provided a $220 million Freddie Mac credit facility for a 1,808-unit affordable housing project in East Palo Alto. The Woodland Park project will feature 118 individual land parcels, including a mix of small properties (one to 50 units), as well as conventional multifamily and commercial properties. The borrower was Woodland Park Property Owner LLC, an affiliate of Sand Hill Property Co. John Nelson and Erik Franks of CBRE Capital Markets’ Debt & Structured Finance team represented the borrower. Rob Russell, head of CMBS production in Greystone’s New York office, originated the financing.