FRESNO, CALIF. — Peak Campus has been awarded management of Campus Edge, a 416-bed, garden-style community located near Fresno State University in Fresno. The property offers one- and two-bedroom units with bed-to-bath parity. Community amenities include a newly renovated clubhouse with a fully equipped game room and fitness center; a business center; barbecue areas; and a resort-style swimming pool with a sun deck and hot tub.
BOULDER, COLO. — Pathfinder Partners has purchased two adjacent multifamily communities in Boulder for $24 million. The communities included in the transaction are the 50-unit Villa Del Prado and the 32-unit Chateau at Villa Del Prado. Villa Del Prado has a parking garage, indoor pool, spa, sauna and clubhouse, while Chateau has parking and a covered pool. Pathfinder plans to renovate the interiors, upgrade the amenities and incorporate green features. The Colorado office of ARA Newmark brokered the transaction.
PORTLAND, ORE. — A Santa Clara, Calif.-based private investment group has purchased the 58-unit Muse apartment complex in Portland for $20.1 million. The community is located at 1313 N.W. 19th Ave. The Muse was built in late 2016. Jordan Carter, Clay Newton, Tyler Linn and Joe DeJager of Kidder Mathews executed the sale. The seller was Gerding Edlen.
OGDEN, UTAH — A California-based buyer has acquired The Gate at Canyon Ridge, a 167-unit multifamily property in Ogden, for an undisclosed sum. The community is located at 1455 Valley Drive. The property is located near the mouth of Ogden Canyon and features an overlook of Ogden Valley and the Great Salt Lake. James Wadsworth and Greg Barratt of Berkadia executed the transaction. The seller is also based in California.
COMPTON, CALIF. — Younger Optics has leased a 53,000-square-foot industrial facility in Compton. The five-year lease was valued at $2.3 million. The facility is located at 1900 Artesia Blvd. The company will occupy the space later this month. Frank Schulz, Todd Taugner and David Prior of the Klabin Co. represented Prologis. Jeff Smart of Colliers International represented Younger Optics in this transaction.
MARINA DEL REY, CALIF. — Upload Inc. has leased 20,000 square feet of creative office space in Marina Del Rey. The property, situated within the Marina Business Center, is located at 4505 Glencoe Ave. Upload’s expansion into the greater Los Angeles area marks the company’s first workspace in the Southern California market. The virtual reality company opened its first location, the Upload SF Collective, in the Mission area of San Francisco. CBRE’s Garrett Ellis, Carter Haslam, Jeff Pion and Shay Bolton represented Upload. NGKF’s Christopher Strickfaden represented the landlord, Marina Business Center LLC, in this transaction.
SEATTLE — A joint venture between the Molasky Group and China-based Binjiang Group has secured $325 million in financing to build a 41-story mixed-use multifamily and hotel tower in the Belltown submarket of Seattle. Financing includes a $225 million joint venture partnership, as well as a $100 million construction-to-permanent loan. The project has not been named yet, but will be built on the site of the old Potala Tower. That project was put under the control of a court-appointed receiver, which suspended construction for about one year. The joint venture development partnership, arranged by Newmark, acquired the property from the court-appointed receiver in October 2016. Construction has resumed at the project. PCL will serve as the general contractor and Weber Thompson will act as the architect. The tower will feature 339 apartment units, 142 hotel rooms and 1,824 square feet of ground-floor retail space. It is scheduled for completion in August 2018. The $100 million construction-to-permanent loan was placed with two of Newmark’s correspondent life insurance company lenders, Guardian Life and Voya Investment, with each lender providing $50 million. The seven-year, construction-to-permanent loans will feature interest-only payments for a period of time, and later amortized over 30 years. Newmark will service the loans, …
SAN DIEGO — Murphy Development Co. (MDC) has reacquired a 542,197-square-foot campus at the San Diego Business Park for $28 million. The property, which will be rebranded as The Campus at San Diego Business Park, is located at 2001 and 2055 Sanyo Ave. Panasonic will lease about 70 percent of the 329,000-square-foot building after MDC completes 42,000 square feet of new office improvements, at a value of about $15 million. The remaining 94,000 square feet of Class A industrial space and 209,700 square feet of office space will be marketed for lease. MDC originally built the campus in 1986 for Sanyo, which Panasonic acquired in 2010. Brent Bohlken and Bryan Teel of Newmark Grubb Knight Frank represented Panasonic. MDC represented itself in the transaction.
SAN DIEGO — A pair of Class A office buildings in the Golden Triangle area of San Diego have sold to an unnamed buyer for an undisclosed sum. The institutional-quality office campus buildings, Governor Executive Centre and Governor Park Plaza, are located at 6165, 6256, 6333 and 6363 Greenwich Drive. The properties are 90.9 percent leased to tenants like the University of California, San Diego. HFF’s Ryan Gallagher, Nick Psyllos, Nick Frasco and Michael Leggett represented the seller in this transaction.
ANAHEIM, CALIF. — S&A Management has acquired a 156,054-square-foot manufacturing building that serves as the headquarters of Taylor-Dunn for an undisclosed sum. The facility is located at 2114 W. Ball Road in Anaheim, with a two-story office building at 2100 W. Ball Road. The transaction is not expected to impact Taylor-Dunn’s continuing operations. The firm has engineered and manufactured vehicles from its location on West Ball Road for more than 65 years. Jeff Chiate and Mike Adey of Cushman & Wakefield’s National Industrial Advisory Group in Irvine represented both the buyer and seller in this transaction. The firm’s Rick Ellison and Randy Ellison also provided local market advisory.
