SAN FRANCISCO — Buckhorn Grill has signed a 10-year lease for a restaurant space located at 619 Market St. in San Francisco. The tenant plans to open a 6,571-square-foot restaurant at the space, which was formerly occupied by Boudin Bakery, in May 2017. Andrew Lindsey of SRS Real Estate Partners represented the tenant, while Mary Kate Banchero and Courtney Griffin of Cushman & Wakefield represented the landlord, CPF 33 New LLC, in the transaction. Buckhorn Grill currently operates 10 restaurants in Northern California.
DENVER — Castle Lanterra has acquired the 369-unit Alexan Sloan’s Lake apartment community in Denver for $102.8 million. The community is located at 1550 Raleigh St. Alexan Sloan’s Lake features 9,000 square feet of first-floor retail. The property is part of a 19-acre mixed-use redevelopment of the former Saint Anthony Hospital campus. The development will eventually contain up to 150,000 square feet of retail and office space. Jeff Hawks, Terrance Hunt, Doug Andrews, Shane Ozment and Chris Cowan of ARA Newmark represented the seller, a joint venture between Trammell Crow Residential and an institutional investor.
SAN DIEGO — Kearny Real Estate Company has purchased the 364,000-square-foot office component of Emerald Plaza in San Diego for $91.7 million. The office component features four hexagonal towers ranging from 20 to 30 stories. Emerald Plaza includes a connected 436-room hotel operated by Westin Hotel, which was not part of the transaction. Emerald Plaza encompasses a full city block at 402 W. Broadway in downtown San Diego. The plaza, which Deutsche Bank has owned since 2005, was 70 percent leased at closing. Local developer and entrepreneur Sandy Sharpery built the property in 1990. HFF’s Ryan Gallagher, Nick Psyllos, Nick Frasco and Michael Leggett represented Deutsche Bank. CBRE’s Ryan Grant, Matt Carlson and Jeff Oesterblad will head up the leasing efforts at Emerald Plaza.
RENO, NEV. — SmartStop Asset Management LLC has acquired The Summit, a 709-bed student housing community located near the University of Nevada, Reno campus for $70 million. The seven-building, LEED Silver-certified property offers fully furnished units with washers and dryers. Community amenities include a two-story clubhouse, fitness center, game lounge, pool, spa, computer room and business center, campus shuttle service, common area barbecues, a tanning room and private study rooms. John Strockis, senior vice president of acquisitions for SmartStop Asset Management, facilitated the transaction on behalf of a SmartStop affiliate.
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.