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.
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.
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.
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.
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.
TACOMA, WASH. — Dermody Properties has broken ground on LogistiCenter at 167, a 225,972-square-foot industrial facility in Fife. The facility will be located at 7450 26th St. E., just east of Tacoma. LogistiCenter at 167 is situated 1.7 miles from Interstate 5 and the Port of Tacoma, the largest deep-water port in Washington. Other industrial operations in the neighborhood include Regal Distribution, Milgard Windows & Doors, Mission Foods, American Fast Freight, Gensco, Fed Ex Freight, Odom Corp., Pexco, UPS and Prologix Distribution Services. Craft Architects is designing the building and the general contractor is Poe Construction. Vanessa Herzog, Patricia Loveall and Kraig Heeter of Kidder Mathews are representing Dermody.
COMMERCE, CALIF. — As part of its growth plan, Smart & Final has opened 33 Smart & Final Extra! warehouse-style grocery stores in California. The locations, which were acquired in December 2015, were previously operated under the Haggen banner. Between January 20, 2016 and May 11, 2016, Smart & Final opened 11 Smart & Final Extra! stores in the San Diego area, seven in Los Angeles County, four in Orange County, three in Ventura County, four in the Central Coast, and two in the Inland Empire — all of which were formerly operated under the Haggen banner — and one additional non-Haggen location in Sacramento County. Currently, Smart & Final operates 306 stores in California, Oregon, Washington, Arizona, Nevada and Idaho, including 251 Smart & Final banner stores, 160 of which are Smart & Final Extra! format stores.
MESA, ARIZ. — IMT Capital has purchased the 340-unit Sienna at Riverview apartment complex in Mesa for $53.8 million. The community is located at 711 N. Evergreen Road. It was developed in 1999. Marina Heights, Arizona’s largest office development, is currently being developed on the south bank of Tempe Town Lake, less than three miles from Sienna at Riverview. Steve Gebing and Cliff David of Marcus & Millichap’s National Multi Housing Group, represented both the buyer and seller, LCOR, in this transaction.
TACOMA, WASH. — CBRE has arranged the $26.7 million sale of Lincoln Plaza, an 80,922-square-foot retail center located in Tacoma. The center is 95 percent occupied by tenants including Big 5, Jared, Men’s Wearhouse, Sketchers, Starbucks Coffee, Wingstop and Sprint. Philip Voorhees, Brad Rable, Megan Wood, Matt Burson, Jimmy Slusher, Todd Goodman, Preston Fetrow and Dino Christophilis of CBRE represented the seller, PASSCO Cos. LLC. The buyer, a privately held real estate partnership based in the Pacific Northwest, represented itself in the transaction.
EUGENE, ORE. — FollettUSA has purchased Summer Oaks, a 102-home 55+ mobile home park in Eugene, for $10.4 million. The seller was Zacorn LLC. Colliers International Portland represented both parties in the transaction. The company’s team on the deal included Skip Rotticci, vice president, and associates Alexander Cheng and Kenneth Verbeck. The sales price equates to $102,000 per pad and a capitalization rate of 4 percent.
