FRESNO, CALIF. — Retail California, a division of Pearson Realty, has brokered two retail sales totaling 69,208 square feet in Fresno. In the first transaction, Fresno Coin Gallery Jewelry and Loan Inc. acquired a 9,208-square-foot retail space at 1727 E. Gettysburg Ave. from Dean & Arlene Sigle Trust. Michael Kennedy and John Lee of Retail California negotiated the transaction. In the second deal, Ag Land Joint Venture acquired a 60,000-square-foot retail building at 4550 and 4582 N. Blackstone Ave. from Rich Development/Gryphon Capital. Lewis Smith of Retail California, along with Mark Saito of Saito Company, brokered the transaction. The acquisition prices were not released for either sale.
SAN DIEGO — Friars-Riverdale Ltd has completed the disposition of Friars-Riverdale Center, a retail center located at 10383-01397 Friars Road in San Diego. Lai Family LP acquired the 32,696-square-foot property for $2.8 million. The property is fully leased to a mix of retail and office tenants. Brian Crepeau and Icela Galaz-Wittkopp of Pacific Coast Commercial represented the seller, while Judy Chou Hsieh of Greater Realty Inc. represented the buyer in the transaction. Renee Marshall of Chicago Title Company provided escrow services, and Ken Cyr, also of Chicago Title Company, provided title services.
GLENDALE, CALIF. — College Plaza, a 5,528-square-foot retail building in the Los Angeles submarket of Glendale, has sold to James Hsu for $6.3 million. The building is located at 1500 Canada Blvd. It was built in 2005. Notable tenants include Coffee Bean and Flame Broiler. The buyer was represented by Peggy Chen of Ko Tai Realty. The seller, Hovik Khatchaturian of Turian Properties, was represented by Alex Vasquez of Stevenson Real Estate Services.
DUBLIN, CALIF. — Dublin-based Ross Stores Inc. will open five new Ross Dress for Less locations in Tennessee, Indiana, North Carolina and Illinois. New stores include a location at Thatcher Woods Center, 12 miles northwest of downtown Chicago; a location at Kensington Center in Plainfield, Illinois; a location at Lincolnton Center, 40 miles Northwest of Charlotte, North Carolina; a location at Village Commons in Evansville, Indiana; and a location at The Crossings at Dickson in Dickson, Tennessee. All locations are set to open July 18.
EUGENE, ORE. — Lancaster Pollard has provided $6.7 million in financing for Benicia Senior Living to fund the acquisition and rehabilitation of River Grove, a 60-unit assisted living and memory care community in Eugene. The funding will be used to renovate three of the community’s four buildings and build a commercial kitchen to serve the campus. Once renovations are complete, the entire campus will be dedicated to memory care. The financing structure, which included senior and mezzanine loans, allowed for the borrower to avoid raising substantial amounts of equity otherwise required for conventional financing. The financing carries five-year terms. Doug Korey, president of Lancaster Pollard, led the financing.
SEATTLE — Heitman has purchased the 386-unit Premiere on Pine apartment complex in Seattle for $240 million. The community is located at the intersection of Pine Street and 8th Avenue. Premiere on Pine is within two blocks of Interstate 5 and Westlake Station in the Pike-Pine retail corridor. The 40-story, ultra-luxury apartment tower was completed in 2014. It is certified LEED-Silver. The community features common-area amenities like a fitness center, dog run, theatre room, club room, conference room, two event spaces, and a 3,000-square-foot balcony that wraps around the south and west side of the building. It contains a mix of studio, one-, two- and three-bedroom units. The seller, Holland Partner Group and its finance partner, was represented by HFF’s Matthew Lawton, Ira Virden and Gerry Rohm.
BEAVERTON, ORE. — Holland Acquisition Co. LLC has acquired Wyndham Park I & II, a pair of multifamily communities in Beaverton, for a total of $63.9 million. Wyndham Park I sold for $34.5 million, or a per-unit price of $151,342, while the second community went for $29.4 million, or $150,738 per unit. Wyndham Park I contains 228 units that were built in 1996. The community is located at 14700-14790 Southwest Scholls Ferry Road. It features one-, two- and three-bedroom layouts. Community amenities include two swimming pools, a spa, sauna, wading pool, clubhouse, playground, fitness center, barbeques, a business center and bicycle storage. Wyndham Park II contains 195 units that were constructed in 1987. The community is located at 11600 SW 147th Terrace. Common-area amenities include a swimming pool, sauna, spa, fitness center, clubhouse, playground, car care areas and garages. The two communities share an entryway across from Murray Scholls Town Center. They are walking distance to Progress Ridge Townsquare, which is anchored by New Seasons Market. Notable employers in the area include Nike, Intel Corp. and Tektronix. The acquisition involved the assumption of two Freddie Mac loans. The seller was KI-Wyndham Park LLC. The transaction was executed by Phil Oester …
SEATTLE — The 328-unit Leilani on Greenwood apartment complex in Seattle has received $47.8 million in acquisition financing. The community is located at 10215 Greenwood Ave N. Leilani on Greenwood contains two mid-rise apartment properties that feature a mix of studio, one- and two-bedroom apartments, in addition to live/work spaces. Common-area amenities include concierge services, a resident lounge, business center, fitness facility, resident theater, and multiple indoor and outdoor community gathering areas. The property was developed by Weidner Apartment Homes. The 10-year, fixed-rate loan was closed by Joe DeCarlo and Sean Sunderland of M&T Realty Capital Corporation. It features a 3.45 percent interest rate and a 59.8 percent loan-to-value.
BEVERLY HILLS, CALIF. — Harbor Group International LLC (HGI) has acquired 357 North Beverly Drive, a 14,144-square-foot urban retail property in Beverly Hills, for $40 million. The property is fully leased on a triple net basis to C.O.S., a subsidiary of H&M, on a long-term lease. HGI partnered with Image Capital on the transaction.
LAS VEGAS — NorthMarq Capital has arranged the $16.85 million refinance of Trop Dec Plaza, a 74,824-square-foot retail property located on Tropicana Avenue in Las Vegas. The transaction was structured with a 10-year term, and has a 30-year amortization schedule. Scott Monroe of NorthMarq arranged financing for the borrower with a CMBS lender.