DENVER — Fidelity National Title Group (FNTG) has opened its newest National Commercial Services (NCS) division in Colorado. This division will combine the resources of several FNTG commercial brands under one roof, including Chicago Title, Fidelity National Title, Commonwealth Land Title and Heritage Title. The NCS Colorado division will be led by senior vice presidents Tony Matlock, Lance Capel, Darren Hone and Stephanie Taylor. Fidelity National Financial is the parent company to National Commercial Services, Colorado. It provides title insurance, mortgage services and diversified services.
SAN FRANCISCO — A partnership between Blatteis & Schnur and Morgan Stanley Real Estate Investing has acquired the 250,000-square-foot Macy’s Men’s Store located on Union Square in San Francisco for $250 million. The joint venture will redevelop the eight-story property, located at 120 Stockton St., into a mixed-use, retail-driven center. Anticipated uses for the development include flagship retail, art galleries, artisanal food, upscale restaurants and creative office space. A rooftop amenity is also being considered for the project, scheduled to open in 2021. Macy’s Men’s Store will remain as a tenant while the design, renovation and leasing of the new development progresses. Eastdil Secured acted as advisor to Macy’s Inc. in the transaction.
TEMPE, ARIZ. — A joint venture between EdR and Opus Development Co. LLC has broken ground on a $164.9 million development adjacent to the Arizona State University campus in Tempe. The 407-unit student housing community will offer community amenities including a 24-hour fitness center, yoga studio, grilling area, dog park, club rooms, bike storage, terrace deck cabanas and 31,000 square feet of retail. EdR will own a 90 percent stake in the community, and will manage it upon completion in summer 2018.
LONG BEACH, CALIF. — ValueRock Realty Partners has purchased a 76,939-square-foot office building in Long Beach for $24 million. The coastal infill property, known as Congressional Place, is located at 6700 E. Pacific Coast Highway. Congressional Place is fully leased to Morgan Stanley, Wells Fargo and others. It was built in 1983. The seller was Colton Cos. The acquisition is part of a 1031 exchange for ValueRock.
LAS VEGAS — A China-based international investment group has purchased the 150-room Rumor Boutique Hotel in Las Vegas for $18 million. The hotel is situated directly across Harmon Avenue from the Hard Rock Hotel & Casino. The property will soon be rebranded, as the Rumor brand was not part of the sale and will remain under the Siegel Group Nevada Inc. ownership. The Siegel Group plans to relocate the brand to an alternate location within the Las Vegas market. Cathy Jones and Josh Smith of Sun Commercial Real Estate represented The Siegel Group in the transaction.
FOSTER CITY, CALIF. — Atria Senior Living has opened Atria at Foster Square, a 155-unit independent living, assisted living and memory care community in Foster City, located between San Francisco and San Jose. The six-story building totals 190,000 square feet. Atria is seeking LEED Silver certification for the community. The property is part of a larger multi-building development that includes additional housing and retail space aimed at seniors. Architecture firm Perkins Eastman designed the property, which San Francisco-based Webcor Builders constructed. Based in Louisville, Ky., Atria Senior Living is the eighth largest operator of seniors housing properties in the United States, according to 2016 numbers by the American Seniors Housing Association. The company totals 196 communities in 27 states and seven Canadian provinces, serving more than 21,000 residents.
DENVER — A joint venture between Goldman, Sachs & Co. and Pearlmark has received $93.5 million in financing for the acquisition of a 492,799-square-foot office building in Denver. The Class A space is located at 1125 17th St. It occupies an entire city block on the corner of 17th and Lawrence streets where the Central Business District and Lower Downtown (LoDo) converge. The 25-story tower is 85.2 percent leased to JP Morgan Chase & Co. and Halliburton, among others. On-site amenities include a fitness club, juice and smoothie bar, basketball and bocce courts, and underground parking. HFF’s Eric Tupler and Josh Simon secured the four-year, floating-rate loan through Bank of America.
PORTLAND, ORE. — Zeller Realty Group has purchased the 298,176-square-foot Umpqua Bank Plaza in Downtown Portland. The building sold for $90 million, according to Portland Business Journal. The Class A office tower is situated on the western shore of the Willamette River. The property was originally developed in 1974 but underwent renovations in 2015. The space was 97 percent leased at the time of sale. Lana Baldock, Dan Swift and Havilah Coady of Cushman & Wakefield will handle leasing at the property.
RENO, NEV. — Hollywood Investment Co. LLC has acquired the 790-unit Stor-All Self-Storage located in Reno for $10.9 million. The facility is situated on 8.4 acres along Panther Drive and West Ranger Road adjacent to U.S. 395. The property includes 22 single-story buildings with asphalt drive aisles and a standalone residence and manager’s office. The LLC plans to hold the property. Bobby Loeffler of the Loeffler Self-Storage Group represented the seller, Stor-All Reno LLC, in this transaction.
LOS ANGELES — A joint venture between Canyon Catalyst Fund and Pacshore Partners has sold its 212,700-square-foot West Los Angeles office portfolio for an undisclosed sum. The portfolio contains three properties, including 22619 Pacific Coast Highway in Malibu, and 12901 W. Jefferson Blvd. and 5340 Alla Road, which are both located in Playa Vista. The JV acquired the three properties between July 2013 and March 2015. The sale is the partnership’s first disposition of investments within the Canyon Catalyst Fund, which Canyon Partners Real Estate manages on behalf of CalPERS.