AUBURN, CALIF. — Envoy Net Lease Partners LLC has financed a first mortgage bridge loan for a 5,500-square-foot, single-tenant net lease Denny’s restaurant in Auburn, approximately 30 miles northeast of Sacramento. The property, which is currently vacant, is located on an outparcel in front of the highest-grossing grocery store in Auburn, and is one of the last remaining outparcels in the market.
ROLLING HILLS ESTATES, CALIF. — UCLA Health has signed a long-term lease for 18,512 square feet at an office building in Rolling Hills Estates on the Palos Verdes Peninsula. The 10-year lease is valued at $5.2 million. This lease brings the Class A office building to full occupancy. It is located at 501 Deep Valley Drive. Eric Lastition and Geoff Ludwig of Colliers International represented the landlord, West Coast Capital Partners.
SANTA MONICA, CALIF. — Zian has purchased a six-unit apartment building in Santa Monica for $2.2 million. The community is located at 1830 12th Street. It was built in 1959. The property is situated near Santa Monica College, Main Street Shops, the Santa Monica Pier and the new Light Rail Metro line. Kimberly Roberts Stepp of Stepp Commercial represented the seller, 2820 3rd Street LLC.
NEWPORT BEACH, CALIF. — Bank of America has leased 88,000 square feet of office space in Newport Beach. The space is located at 520 Newport Center Drive. It is directly across from Fashion Island. Merrill Lynch, Private Banking and Investments, Commercial and Business Banking, will occupy the space. The landlord is Irvine Company Office Properties.
LOS ANGELES — Abrams Artists Agency has leased 15,650 square feet at the Pacific Design Center’s RedBuilding in Los Angeles. The center is located at 8687 Melrose Ave. Abrams is a talent and literary agency. It represents up-and-coming acting talent, as well as established celebrities in film, television and theater. Robert Cavaiola of Savills Studley represented the firm. The landlord, Cohen Brothers Realty, was represented in-house by Marc Horowitz, as well as by JLL’s Josh Wroble.
LAS VEGAS — DC Building Group has moved into its new 6,000-square-foot corporate office in Las Vegas. The space is located at 101 E. Warm Springs Road. The general contractor previously occupied a smaller space in the valley. After its staff grew by more than 65 percent, however, DC Building found it needed a larger space. The firm was previously known as Danoski Clutts Building Group.
SAN FRANCISCO — Bank of China USA has provided an $87 million loan to the 155-room Loews Regency San Francisco. The planned use of the financing was not disclosed. The hotel was formerly known as the Mandarin Oriental San Francisco, and converted to the Loews Regency brand after Loews Hotels purchased the asset in April. Loews Regency San Francisco is located on floors 11 through 48 of 345 California Center at 222 Sansome St. in the Financial District. It is within walking distance of Union Square and Fisherman’s Wharf. The hotel features Brasserie S&P, more than 5,000 square feet of meeting space and a new 8,000-square-foot spa and fitness center. JLL’s Mike Huth, John Manning, Kevin Davis and Alex Witt arranged the transaction.
LOS ANGELES — Fred Sands, the founder of Fred Sands Realtors and Vintage Capital Group, died Friday, Oct. 23. He was 77. Sands became Coldwell Banker’s top-producing real estate agent in 1968 before opening his first Fred Sands Realtors office in Brentwood. The business became the second largest real estate and financial services company in California. It owned and operated entities in title insurance, home warranty, mortgage banking and escrow. Fred Sands Realtors employed 4,000 people throughout its network of offices and franchised operations, generating $9.4 billion in sales volume annually. Sands eventually opened more than 72 offices across California and Nevada before Coldwell Banker acquired the company in 2000. He then headed up Vintage Capital Group in 2001. Sands is survived by his wife, Carla, and his son and daughter, Jonathan and Alexandra.
HENDERSON, NEV. — HFF has secured $72 million in acquisition financing for The District at Green Valley Ranch, a 384,724-square-foot mixed-use retail and office center in the Las Vegas suburb of Henderson. Aldon Cole and Todd Sugimoto of HFF worked on behalf of the borrower, Vestar, to secure the 10-year, fixed-rate loan with AIG Investments. Loan proceeds were used to purchase the 91 percent occupied property. A 51,300-square-foot Whole Foods Market anchors the center, which is also home to tenants including REI, Pottery Barn, Williams-Sonoma, West Elm, Anthropologie, The Cheesecake Factory and P.F. Chang’s China Bistro.
LOS ANGELES — ASB Real Estate Investments and Blatteis & Schnur have broken ground on At Mateo, an $80 million mixed-use project in downtown Los Angeles. The project will be located at the corner of Palmetto and Mateo streets in the Arts District. At Mateo will include nearly 125,000 square feet of open-air retail and 50,000 square feet of creative office space that will be situated in four buildings on a former 3.5-acre industrial site. It will be designed with re-purposed materials, including bricks, cobblestones and laminated beams, as a homage to the Arts District. The project will eventually include 30 to 35 chef-driven restaurants, eateries, boutiques and retail stores. At Mateo is scheduled for completion in the fourth quarter of 2016. Architect Keith Ray master planned the development.