DENVER — American Tire Distributors (ATD) has leased a 127,000-square-foot building at Crossroads Commerce Park in Denver. The park is located at the southwest corner of 55th Avenue and Washington Street in Unincorporated Adams County. ATD is the first full-building tenant at Crossroads. The company is one of the largest independent suppliers of replacement tires in North America. Crossroads Commerce Park is a modern, master-planned development of nearly 1 million square feet of Class A industrial space in multiple buildings. Josh Allred of Jackson Cooksey represented ATD. Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank represented the landlord, Trammell Crow Company.
SANTA ANA, CALIF. — An unnamed buyer has purchased the 60-unit Mauna Loa Apartments in Santa Ana for $14.6 million. The community is located at 1311 Washington Ave. It is situated near Westfield MainPlace Mall and the Discovery Cube Orange County science museum. Tyler Leeson of Marcus & Millichap’s Newport Beach office represented the seller, an LLC.
IRWINDALE, CALIF. — Rexford Industrial Realty has purchased a 64,296-square-foot industrial facility in Irwindale for $8.1 million. The facility is located at 16321-16327 Arrow Highway. It is fully leased to one tenant that has used the property as its corporate headquarters, production and distribution facility for several decades.
RENO, NEV. — Lancaster Pollard has arranged a $1.8 million bridge loan for Reno Valley Assisted Living & Retirement Center (RVALRC), a 118-unit assisted living facility located in Reno. The community was acquired in 2013 and has undergone a turnaround process. The loan, provided by a local lender, has a five-year term and will fund further capital improvements, debt repayment and recapitalization. The improvements will also allow RVALRC to accept Medicaid residents, opening its doors to a wider range of customers. The community plans to refinance the loan within three years once improvements are implemented. Grant Goodman led the transaction for Lancaster Pollard.
LOS ANGELES — AvalonBay has purchased a 5.8-acre land parcel in Hollywood for more than $100 million. The parcel is located at 6677 Santa Monica Blvd. AvalonBay plans to demolish the existing site where it will build a mixed-use multifamily and retail development. The proposed development will include 24,900 square feet of retail space and 695 apartment units, including 56 affordable housing units. The project is currently in the pre-development stage. CBRE’s Curtis Palmer, Anthony Muhlstein and Peter Sherman represented the buyer. The seller was Calico and Tinseltown.
BELLEVUE, WASH. — Kemper Development Company has received $220 million to refinance the Eddie Bauer Building in Bellevue. The 538,705-square-foot office building is situated within the Bellevue Collection on the corner of NE 8th and Bellevue Way NE. The Class A building is fully leased to Eddie Bauer and Microsoft Corp. The Bellevue Collection contains retail, office, hotel and residential properties. It features more than 250 retail brands, dozens of restaurants, more than 1 million square feet of Class A office space and more than 1,000 hotel rooms. TIAA-CREF provided the financing. Dave Karson, Alex Hernandez and Chris Moyer of Cushman & Wakefield Equity represented Kemper Development.
CHANDLER, ARIZ. — TruAmerica Multifamily has purchased the 290-unit Trevi apartments in Chandler for $47.5 million. The Class A community is located at 635 S. Ellis Street. Trevi was built in 2005. It is currently 97 percent occupied. TruAmerica leveraged the acquisition with $34.2 million in agency debt financing secured through Berkeley Point Capital. Mitch Clarfield originated the loan. This is TruAmerica’s second acquisition in the Greater Phoenix area. The purchase was made in partnership with an institutional investor. The seller was Alliance Residential Company.
SAN JOSE, CALIF. — PCCP LLC has provided a $48.5 million senior loan to Dollinger Properties for the development of Sprouts @ Brokaw, a 143,000-square-foot shopping center to be anchored by Sprouts Farmers Market in San Jose. Construction has begun on the project, which is set to open in summer 2016.
LOS ANGELES — Institutional Property Advisors (IPA) has arranged the sale of The Shrine Collection, a 324-bed, 103-unit student housing community near the University of Southern California (USC), for $39.1 million. The sales price equates to just under $380,000 per unit and approximately $120,700 per bed. Ron Harris, IPA executive vice president of investments, director Paul Darrow and associate director Michael DiSimone advised the seller and procured the buyer, a joint venture between Stuho and Cambridge Capital Advisors. Situated on seven parcels of land totaling more than two acres, the properties are Chez Ronne, The Bungalows, Roma, Pisa, Corsica and Habitat Soozee. All are located one block from USC’s main campus, one block west of Figueroa Street and less than two miles from downtown Los Angeles. The portfolio’s properties feature controlled entry, security services, USC network accessibility, 24-hour on-site laundry facilities and all residents have the use of a fitness center.
CORTE MADERA, Calif. — The Atlanta-based Seniors Housing and Healthcare Finance Team of Grandbridge Real Estate Capital has arranged a $42.3 million refinancing for Aegis of Corte Madera, a 118-unit assisted living and memory care near San Francisco. A life insurance company provided funding for the loan. Grandbridge’s Richard Thomas, senior vice president, and Meredith Davis, vice president, originated the transaction. Grandbridge Real Estate Capital arranges permanent commercial and multifamily real estate loans, services loan portfolios and provides asset and portfolio management, as well as real estate brokerage services.