Western

Ross Appoints President & Chief Merchandising Officer of dd’s Discounts

by Nellie Day November 17, 2015

DUBLIN, CALIF. — Ross Stores, Inc. has appointed Brian Morrow as president and chief merchandising officer of dd’s Discounts, effective Dec. 7. Morrow will report directly to Barbara Rentler, the company’s CEO, and be responsible for directing all aspects of merchandising at dd’s Discounts. Morrow has more than 30 years of merchandising management experience including roles with Macy’s West, Mervyn’s, Macy’s North/Marshall Field’s and May Company. Most recently, he served as president and chief merchandising officer for Stein Mart Inc.

November 17, 2015

Arizona Retail Western

Lee & Associates Arranges Sale of Two Shopping Centers in Arizona for $16.4M

by Nellie Day November 16, 2015

GLENDALE AND TEMPE, ARIZ. — Lee & Associates has arranged the sale of two Arizona shopping centers for a combined $16.4 million. Properties include 51st & Olive Square, an 88,225-square-foot shopping center located in Glendale; and Playa Del Norte, an 11,499-square-foot shopping center located in Tempe. Patrick Dempsey and Jan Fincham of Lee & Associates worked on behalf of both the buyer, 51st & Olive Station LLC, and the undisclosed seller in the 51st & Olive Square transaction. Dempsey, Fincham, Chris McClurg and Matt Frederick of Lee & Associates co-listed and secured the buyer, Crow Holdings Capital Real Estate, in the Playa Del Norte transaction.

November 16, 2015

California Retail Western

Inland Real Estate Acquisitions Facilitates Purchases of Two Shopping Centers in California

by Nellie Day November 16, 2015

TURLOCK AND FRESNO, CALIF. — Inland Real Estate Acquisitions Inc. has facilitated the acquisitions of two shopping centers in Turlock and Fresno. In the first transaction, Inland Real Estate Income Trust Inc. acquired Blossom Valley Plaza, a shopping center located at 2900 Geer Road in Turlock, for an undisclosed sum. Constructed in 1988, the 111,558-square-foot shopping center was 100 percent leased at the time of sale to a variety of tenants, including Raley’s grocery store, Wells Fargo, Supercuts, Subway, Papa John’s, GameStop and Jay’s Tires. Matthew Tice of Inland Real Estate Acquisitions Inc. facilitated the purchase on behalf of Inland Real Estate Income Trust. The name of the seller was not released. Additionally, Inland Real Estate Acquisitions facilitated the purchase of Marketplace at El Paseo, a 224,683-square-foot shopping center in Fresno, for an Inland-related party. Terms of the acquisition, including seller and purchase price, were not released.

November 16, 2015

California Loans Multifamily Seniors Housing Western

Lancaster Pollard Refinances $13.3M Loan for Seniors Community in California

by Nellie Day November 16, 2015

MADERA, CALIF. — Lancaster Pollard has arranged the refinancing of an $11.3 million bridge loan into a $13.3 million, non-recourse FHA permanent loan for Cedar Creek Senior Living, a 112-unit independent living, assisted living and memory care community in Madera, a small town between San Francisco and Los Angeles. Woodset Partners LLC owns the property, which Integral Senior Living operates. The property opened in 2005 and in 2010 was the winner of the Assisted Living Federation of America’s (ALFA) Best of the Best Award. Lancaster originally arranged the bridge loan in 2013 to ensure Woodset retained ownership of the community. The intent was to refinance the loan into permanent financing through FHA. The new loan structure removed many covenants, paid off the $11.3 million bridge loan and $900,000 in mezzanine debt, and provides debt service savings. In addition, the financing funds repairs to the property and a $445,000 deposit to the replacement reserve account. Jason Dopoulos led the transaction for Lancaster Pollard.

November 16, 2015

New Mexico Retail Western

Q10 Realty Arranges $2.5M Financing for Alameda Retail Center in New Mexico

by Nellie Day November 16, 2015

ALBUQUERQUE, N.M. — Q10 Realty Mortgage & Investment Co. has arranged $2.5 million in financing for Alameda Retail Center, a 16,391-square-foot shopping center located in Albuquerque. Michael Kelly and Michael Stordahl of Q10 secured the 15-year, fixed-rate loan through a life insurance company.

November 16, 2015

California Multifamily Student Housing Western

Capstone On-Campus Awarded Third-Party Management of Student Housing at CSU San Marcos

by Nellie Day November 16, 2015

SAN MARCOS, CALIF. — Capstone On-Campus Management (COCM) has been selected to assume management of University Village Apartments and The QUAD student housing communities, both serving students on the campus of California State University San Marcos (CSUSM). The two student communities provide housing for a total of 1,527 CSUSM students. University Village Apartments, providing 638 beds, is located directly on the CSUSM campus and is owned by an auxiliary organization of CSUSM. Living arrangements are two- and four-bedroom apartments, all fully furnished. The QUAD, providing 889 beds on a site adjoining the campus, is a privately owned, CSUSM-affiliated community. Living arrangements are private and shared bedrooms, within two-, three-, and four-bedroom apartments, all fully furnished.

November 16, 2015

Arizona Retail Western

VEREIT Sells $204M Red Lobster Pool, Enters Partnership to Sell Additional $400M

by Nellie Day November 13, 2015

PHOENIX — Phoenix-based VEREIT Inc. has sold a $204 million pool of Red Lobster properties to San Francisco-based Golden Gate Capital. Additionally, the two companies have entered into a strategic partnership where VEREIT will opportunistically divest an additional $400 million of properties by executing single- or multi-unit dispositions at accretive valuations. The Red Lobster restaurants that are part of this transaction will continue to operate without change or disruption.

November 13, 2015

California Retail Western

CBRE Negotiates $15.7M Sale of Retail Building in Buena Park

by Nellie Day November 13, 2015

BUENA PARK, CALIF. — CBRE Group has brokered the sale of a retail building, located at 8030 Dale St. in Buena Park. Oshdale LLC acquired the 44,100-square-foot property from Village Properties for $15.7 million. Orchard Supply Hardware recently signed a 20-year, triple-net lease for the property and plans to open later this year. Dan Riley, Arthur Flores and Austin Wolitarsky of CBRE represented the seller and buyer in the transaction. Barclay Harty, also of CBRE, was the leasing agent at the time of sale.

November 13, 2015

California Loans Mixed-Use Western

PCCP Provides Construction Loan for Residential, Retail Development

by Nellie Day November 13, 2015

FREMONT, CALIF. — PCCP has provided a senior construction loan to a joint venture between BHV CenterStreet Properties and JD Capital for the development of Artist Walk at 37070-3722 Fremont Blvd. Situated on 6.24 acres in the Centerville District of Fremont, the infill mixed-use project will feature 185 apartments and 28,641 square feet of ground-floor retail space. Plans for the development include three- and four-story buildings with surface parking, as well as continuous street-facing retail across three separate buildings along Fremont Boulevard with a mix of 12 to 17 restaurants and retailers. The apartment units will feature one- and two-bedroom layouts with nine-foot ceilings, washer/dryer, private balconies and upgraded finishes. On-site amenities will include a pool, clubhouse and business center.

November 13, 2015

California Western

Andrew Amor Joins Amor Architectural Corp. as Director of Design

by Nellie Day November 13, 2015

LOS ANGELES — Andrew Amor has joined Los Angeles-based Amor Architectural Corp. as director of design. Based in Atlanta, Amor will lead design for the national firm. He has more than 30 years of creative and practical broad-based architectural design experience. The firm’s new East Coast office is located at 5300 Peachtree Road, Suite 1305.

November 13, 2015

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