Western

CE Enterprise Partners Purchases Two Albertsons Locations Near Seattle for $16.3M

by Nellie Day August 9, 2016

RENTON AND MILTON, WASH. — CE Enterprise Partners LLC has acquired two single-tenant Albertsons grocery stores totaling 97,021 square feet in the Seattle suburbs for $16.3 million. Acquisitions included a 43,130-square-foot Albertsons located 18 miles southeast of Seattle’s city center in Renton; and a 53,891-square-foot Albertsons located 27 miles south of Seattle in Milton. Both properties are triple-net-leased to Albertsons through 2035. Bob Tuller of Cushman & Wakefield’s San Francisco office represented the buyer in the transaction. Nick Foster, Mark West and Nick Kassab of HFF represented the seller, HH Property North LLC.

August 9, 2016

Arizona Multifamily Seniors Housing Western

Madison Realty Buys Two Seniors Housing Communities in Metro Phoenix for $14.8M

by Nellie Day August 9, 2016

MESA AND APACHE JUNCTION, ARIZ. — Madison Realty Cos. has purchased two seniors housing communities in the Phoenix suburbs of Mesa and Apache Junction for $14.8 million. The real estate investment firm made the acquisitions on behalf of Delaware Statutory Trust investors. Madison plans to add levels of care and other value to the properties. The Mesa property was built in 2013 and Apache Junction in 2011. The specific names of the communities were not disclosed. The properties feature a loan-to-value ratio of 41.9 percent with 25-year amortization and a fixed rate of 4.75 percent for a seven-year, no-interest-only term.

August 9, 2016

California Loans Retail Western

Thorofare Capital Secures $23M Loan for 50,000 SF Retail Property in LA

by Nellie Day August 9, 2016

LOS ANGELES — Thorofare Capital has arranged a $23 million, floating-rate commercial mortgage for a retail property located in the Koreatown neighborhood of Los Angeles. The borrower was not disclosed. The property offers 50,000 square feet of retail space. Kevin Miller and Felix Gutnikov of Thorofare Capital secured the financing.

August 9, 2016

California Multifamily Western

SCG America Acquires Land Parcel in Downtown LA for Mixed-Use Development

by Nellie Day August 9, 2016

LOS ANGELES — SCG America has acquired a 34,000-square-foot land parcel at 400 S. Broadway in downtown Los Angeles. The company will develop a 34-story high-rise condominium on the site featuring 7,000 square feet of ground-floor retail and commercial space. The property is slated for groundbreaking in October and completion in 2020.

August 9, 2016

California Hospitality Mixed-Use Top Stories Western

Waldorf Astoria to Anchor 2 MSF Mixed-Use Complex in San Francisco

by Katie Sloan August 9, 2016

SAN FRANCISCO — Waldorf Astoria Hotels & Resorts — Hilton’s (NYSE: HLT) luxury hotel arm — has unveiled plans for the new Waldorf Astoria San Francisco, which will anchor a 2 million-square-foot, mixed-use complex located on Mission Street in San Francisco’s SoMa neighborhood. The hotel will occupy the first 21 stories of a mixed-use tower designed by architecture firm Foster + Partners. Hirsch Bedner Associates will be in charge of designing the interior. Amenities at the Waldorf Astoria San Francisco will include a spa and “Peacock Alley” restaurant offering San Francisco-inspired cuisine and libations. Development costs and a completion date for the project have yet to be announced. The new development will be located at the center of a vast redevelopment project surrounding the Transbay Transit Center. The Transbay Center District and Redevelopment Plans include more than 6 million square feet of new downtown office space; 4,400 units of new housing, 1,200 of which will be affordable; approximately 100,000 square feet of new retail space; and nearly 1,000 new hotel rooms. The redevelopment of the Transbay area will also incorporate more than 11 acres of new public parks and open space, including a 5.4-acre rooftop park at the Transit Center …

August 9, 2016

California Loans Multifamily Seniors Housing Western

Greystone Provides $25.2M Refinancing for Seniors Housing Community Near Sacramento

by Nellie Day August 8, 2016

CARMICHAEL, CALIF. — Greystone, a real estate advisory firm, has provided $25.2 million loan Oakmont Senior Living to refinance Oakmont Carmichael, a 71-unit assisted living and memory care community in the Sacramento submarket of Carmichael. The loan carries a 10-year, fixed-rate term with a 30-year amortization. The property is newly constructed and includes a two-story building located on 2.4 acres. Greystone’s Scott Kavel and Cary Tremper originated the loan.

August 8, 2016

California Retail Western

Marcus & Millichap Arranges $13.6M Sale of Shopko in Redding

by Nellie Day August 8, 2016

REDDING, CALIF. — Marcus & Millichap has arranged the $13.6 million sale of a 94,418-square-foot Shopko located in Redding. The property is located at 55 Lake Blvd., less than a half-mile from Interstate 5. Glen Kunofsky and Mike James of Marcus & Millichap represented the undisclosed seller in the transaction.

August 8, 2016

California Mixed-Use Western

High Street Residential Breaks Ground on Mixed-Use Development in Downtown LA

by Nellie Day August 8, 2016

LOS ANGELES — High Street Residential, in partnership with Principal Real Estate Investors and the Cesar Chavez Foundation, has broken ground on LA Plaza Village, a 425,000-square-foot mixed-use project in downtown Los Angeles. The development will feature 355 multifamily units and 43,700 square feet of retail across four buildings, ranging from five to seven stories. The multifamily portion of the property will feature one-, two- and three-bedroom units, 20 percent of which will be affordable housing. The development will also feature 720 parking spaces, and a “historic paseo” that will link LA Plaza Village to Olvera Street and Union Station through a landscaped walkway which features signage describing the history of the area. The project — which is seeking LEED Certification — is scheduled for completion in 2018. Johnson Fain is the architect for the project and Benchmark Contractors Inc. is the general contractor.

August 8, 2016

California Retail Western

Faris Lee Investments Negotiates $6M Sale of Retail Property in Upland

by Nellie Day August 8, 2016

UPLAND, CALIF. — Faris Lee Investments has arranged the sale of a single-tenant retail property located at 685 W. Foothill Blvd. in Upland. Sunrz Holdings acquired the 33,350-square-foot property from Mission Plaza Properties for $6 million, or $180 per square foot. The freestanding building is occupied by 24 Hour Fitness. Jeff Conover of Faris Lee represented the seller in the deal.

August 8, 2016

California Retail Western

Cushman & Wakefield Negotiates $5.2M Sale of Multi-Tenant Retail Property

by Nellie Day August 8, 2016

CORONADO, CALIF. — Cushman & Wakefield has arranged the sale of a multi-tenant retail property located at 820-826 Orange Ave. in Coronado. 820 Orange Ave LLC acquired the 12,801-square-foot property from The Siegel Trusts for $5.2 million. Built in 1952, the property is anchored by Coronado Village Theaters. Andrew Peterson of Cushman & Wakefield represented the seller and buyer in the transaction.

August 8, 2016

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