NEWPORT BEACH, CALIF. — Irvine, Calif.-based The Khoshbin Company has acquired three retail properties in Newport Beach from GP’s Landing LLC for $28.9 million. Located at 2751 and 2801 Coast Highway and 2620 Avon St., the properties consist of 29,341 square feet, a marina and include two well-known landmarks — Billy’s at the Beach and The Ritz restaurant, formerly The Chart House. Alton Burgess and Travis Haining of Lee & Associates Newport Beach represented the buyer, while Brian Barson of Lee Newport Beach represented the seller in the transaction.
CHICO, CALIF. — CBRE Multifamily Capital has originated a $32.3 million loan for The Terraces Senior Living, a 138-unit independent living and assisted living community in Chico, approximately 90 miles north of Sacramento. The community is part of a master planned age-restricted community. The borrower, California-based owner/operator Westmont Living, will use the money to convert assisted living units into memory care units. The non-recourse, 10-year, fixed-rate loan includes four and a half years of interest-only payments. CBRE secured the loan through its Fannie Mae program. Andrew Behrens, vice chairman of CBRE Multifamily Institutional Group, and Aron Will, executive vice president of CBRE National Senior Housing, arranged the loan.
LA HABRA, CALIF. — Strategic Retail Advisors has negotiated the $8 million acquisition of Northgate González Markets at La Habra Towne Centre in La Habra. Situated on 9.2 acres, the 104,423-square-foot property is occupied by CVS/pharmacy, Petco and Jack in the Box. Nelson Wheeler and Blaine Bush of Strategic Retail Advisors represented the buyer, Northgate González Markets, while Jones Lang LaSalle represented the undisclosed seller.
LONGMONT, COLO. — Village at the Peaks, a national parks-themed shopping center located on the grounds of the former Twin Peaks Mall in Longmont, has added four new tenants. Newly signed retailers include Boulder, Colorado-based Ozo Coffee Co., Mathnasium, The Sleep Number and Brain Balance Achievement Center. The property is currently over 85 percent leased to a total of 29 retailers including Whole Foods Market, Sam’s Club and Regal Cinemas.
SAN DIEGO — San Diego-based Capital Real Estate Ventures Inc., along with its joint venture partner, Orion Investment and Management Ltd. Corp., has received $29.6 million in acquisition financing for four Del Taco portfolios, totaling 22 properties, in Southern California. HFF placed the non-recourse, two-year, floating-rate loan with Wells Fargo Restaurant Finance Group for the borrower. All properties in the four portfolios feature new long-term leases with Del Taco, a fast food restaurant specializing in Mexican cuisine. The properties are located in Colton, Highland, Lake Elsinore, La Verne, Moreno Valley, Palmdale, Placentia, Perris, Rancho Cucamonga, Rialto, Riverside, Sacramento, Temecula, Thousand Palms, Torrance, Upland, Walnut, Victorville and Vista. Kevin Mackenzie and Greg Brown of HFF secured the financing for the borrower.
PHOENIX — Westcore Properties has purchased a 170,625-square-foot industrial property in Phoenix for $10.2 million. The facility is located at 125 North 67th Ave. The tenants include Goodman Distribution and Omni Workspace. JLL’s Bo Mills and Mark Detmer represented Westcore in the transaction.
SAN DIEGO — Shea Properties has signed three new tenants to Mercado del Barrio, a mixed-use center located under the Coronado Bridge in San Diego’s Barrio Logan. Marciscos el Pulpo, a seafood restaurant, celebrated its grand opening on January 10; MishMash, a gourmet street-food truck and catering company, is opening its first brick-and-mortar location in the first quarter of this year; and The Gear Group, a tactical equipment retailer, is also opening this quarter. In addition to the new tenants, Fathom Crossfit is expanding its current location at the center to 6,111 square feet in mid-January. Other tenants at the property include Northgate Market, Little Caesars, T-Mobile, Asia Wok, Fade Factory, Iron Fist Brewing Co., National Laundry & Dry Cleaning, Sally Beauty and Tocumbo Ice Cream & Tortas.
SANTA MONICA, CALIF. — Santa Monica-based brokerage firm Main + Main has named Mike Clark as its executive director. Prior to joining Main + Main, Clark spent 20 years with Cushman & Wakefield. Clark will be based in the company’s San Diego office, and will specialize in shopping centers, retail strip centers and freestanding retail buildings in the San Diego area.
LOS ANGELES — Social lifestyle networking app Grindr has leased 18,000 square feet of office space at the RedBuilding inside Los Angeles’ Pacific Design Center. The building is located at 8687 Melrose Ave. in West Hollywood. Other notable tenants at the property include Clique Media, Viceroy Hotel Group and Abrams Artists Agency. Ryan Harding of Newmark Knight Grubb Frank represented Grindr in the transaction. Marc Horowitz of Cohen Brothers Realty and JLL’s Josh Wroble represented the landlord, Charles S. Cohen.
SEATTLE — Sonnenblick-Eichner Co. has arranged $65.2 million in first-mortgage financing for a pair of Hyatt House properties situated in the Pacific Northwest. The transaction includes the 149-room Hyatt House Seattle/Redmond and the 160-room Hyatt House Seattle/Bellevue. The non-recourse, 10-year fixed rate financing was priced in the low 4 percent range with interest-only payments for the first five years. The loans were not cross-collateralized. A life insurance company provided the capital.