NAPA, CALIF. — A limited liability company has acquired the 30-unit Lincoln Gardens Apartments in Napa for $9 million. The community is located at 1802 F St. It was built in 2004. Brad Pennington and John Garrett of Marcus & Millichap’s San Francisco office represented both the buyer and seller, another LLC.
LOS ANGELES — Dedeaux Properties has purchased an eight-property industrial portfolio totaling 121,162 square feet in the Los Angeles submarket of Santa Fe Springs for an undisclosed price. The properties are located near the Milroy Place cul-de-sac. CBRE’s Tom Dorman and Steve Young represented the seller, Adaya Family Trust.
MARANA, ARIZ. — Marcus & Millichap has arranged the $5.4 million sale of a 14,820-square-foot net-leased Walgreens property located in Marana. Jamie Medress and Mark Ruble of Marcus & Millichap worked on behalf of the seller, a developer, and Ryan Shook and Evan Barry of Marcus & Millichap worked on behalf of the buyer, a limited liability company, in the transaction.
LAKEWOOD, COLO. — A 24-unit apartment community in Lakewood has sold to an unnamed buyer for $2.1 million. The community is located at 10623-10709 W. 8th Ave. It was built in 1961. Robert Lawson of Pinnacle Real Estate Advisors represented the buyer, while Josh Newell of the same firm represented the seller.
LONG BEACH, CALIF. — Molina Healthcare has leased 73,486 square feet of office space at One World Trade Center in Downtown Long Beach. The facility will serve as an expansion for the company’s corporate headquarters, which is located across the street. Damion McKinney and Jamie Keller of McKinney Advisory Group represented Molina in the lease. JLL’s Steve Solomon, Jason Fine and Kristen Bowman, along with CBRE’s Dave Smith represented the landlords, Greenlaw Partners, Walton St. Capital and Stillwater Investment Group.
HENDERSON, NEV. — A joint venture between the Bascom Group and funds managed by Oaktree Capital Management has purchased the 110-unit Vantage apartments in the Las Vegas submarket of Henderson for an undisclosed sum. The community is located at 201 South Gibson Road. Guardian Life Insurance Company of America provided debt financing, which HFF’s Charles Halladay arranged. JLL’s John Cunningham and Charles Steele represented the seller in this transaction.
LAS VEGAS — NorthMarq Capital has arranged a $29 million refinancing loan for The Resort at the Lakes, a 427-unit apartment community in Las Vegas. The community is located at 9999 W. Katie Ave. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq’s Scott Monroe arranged financing for the borrower through its correspondent relationship with a life insurance company.
PORTLAND, ORE. — Trion Properties has acquired the 44-unit Spring Garden apartments in Portland for $4.4 million. The community is located at 2222 SW Spring Garden St. It was built in 1967. Clay Newton and Jordan Matthews of Kidder Matthews represented both the buyer and seller in this transaction.
SAN DIEGO — Calame Development has purchased an 18,472-square-foot R&D/biotech property in the Miramar submarket of San Diego for $2.5 million. The property is located at 6605 Nancy Ridge Drive. It was built in 1990. Capital Growth Properties represented Calame in the sale. NGKF’s Brent Bohlken and Paul Britvar represented the seller, Torrey Pines ANA LLC.
PHOENIX — Manning & Kass, Ellrod, Ramirez, Trester LLP has leased 16,360 square feet of office space at Security Title Plaza in downtown Phoenix. The space is located at 3636 North Central Ave. The company was previously headquartered in Scottsdale. Tiffany Winne and Luke Raimondo of Savills Studley represented the law firm. DTZ’s Mark Stratz and Scott Baumgarten represented the landlord, Reven Capital.
