LOS ANGELES — Broadway Trade Center, a 1-million-square-foot, mixed-use building in Los Angeles’ Broadway Corridor, has received a $140-million senior bridge loan. It is located at 830 S. Hill Street. The loan will finance the acquisition and redevelopment of the center, which was originally built in 1908. Once completed, the center will include large-plate creative office space, as well as ground- and second-floor flagship retail spaces. Broadway Trade Center is located near the Ace Hotel, Urban Outfitters, Gap and Alma restaurant. The center is owned by a joint venture between Waterbridge Capital and Jack Jangana. The loan was provided by Canyon Capital Realty Advisors LLC and partner Hudson Pacific Properties.
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CHANDLER, ARIZ. – MIG Real Estate has acquired the 234-unit Symphony Apartments in Chandler for $35.5 million. The community is located at 2225 W. Frye Road. Symphony was built in 1999. Amenities include two resort-style pools with a spa, wood-burning fireplace, veranda with bar seating and televisions, and barbeque grills; clubhouse with wet bar, coffee station, and conference room; and a fitness center with a private yoga room.
TUCSON, ARIZ. – The 188-unit Mountain View Retirement Village in Tucson has received a $20-million refinance. The retirement community is located at 7900 N. La Canada Drive. Amenities at the community include restaurant-style dining, housekeeping and maintenance services, scheduled transportation, customized assistance, and recreational and wellness activities. The 10-year loan features a fixed rate and a 30-year amortization schedule. It was originated by Brandon Harrington and Matt Steffen of Walker & Dunlop. The loan was provided by a life insurance company.
LAS VEGAS — Durango Courtyard, a 10,900-square-foot retail property in Las Vegas, has received $2 million in acquisition financing. The courtyard is located at 4705 S. Durango Drive. The borrower is High Valley VII LLC. The long-term, fixed-interest rate loan was closed by CBRE’s Bob Ybarra.
GLENDALE, CALIF. – Television production company Tim & Eric, Inc. has signed a five-year lease for 15,300 square feet at a creative office campus in Glendale. The two-building property is located at 1442 and 1500 Flower Street. The lease is valued at $1.5 million. The production company was represented by Roger Beck and Gelena Skya-Wasserman of Charles Dunn Company. The landlord, Avalon Investment Company, was represented by Stevenson Real Estate.
LOS ANGELES – Waterbridge Capitalhas acquired a 1-million-square-foot building that formerly served as a department store for Hamburger’s and May Company for an undisclosed sum. The building is sits directly adjacent to the Historic Core, Financial, and South Park districts. The new owner plans to convert the property into a creative space.It will be the first creative campus of this size for the technology industry in Downtown Los Angeles according to CBRE, which represented the seller. Waterbridge was represented by Frank Lahijani and Jeremiah Curry of Global Commercial Real Estate. The seller, an undisclosed family ownership, was represented by CBRE’s Phillip Sample, Chris Caras and Michael Shustak.
TUMWATER, WASH. — Town Center East III, a 157,625-square-foot office campus in Tumwater, has received $26.7 million in financing. The tower is located at 243 Israel Road, about five miles from Olympia. The property was built in 2006. The permanent financing was arranged by NBS Financial, which represented both the lender and the borrower in this transaction. Jeff Henderson and Zack Goodwin executed this transaction.
LOS ANGELES – The Swig Company has purchased a 72,500-square-foot building in Los Angeles that serves as the Disney Store’s western regional headquarters for $26.1 million. The building is located at 443 S. Raymond Ave. The historic building was originally constructed in 1922. The campus underwent extensive renovations that were completed in 2005. The seller, Karlin Real Estate, was represented by Bob Safai and Matt Case of Madison Partners.
PHOENIX – A 355-unit apartment complex in Phoenix has sold to SPL Real Estate & Management Co. for $12.5 million. The community is located at 2912 E. Indian School Road. It was built in 1979. The buyer was represented by Todd Braun and Will Barnard of Lee & Associates. The seller, Bella View Apartments LLC, was represented by Karl Abert of Newmark Grubb Knight Frank.
OAKLAND, CALIF. – Avison Young has opened a new office in Oakland. The outpost will be located at 300 Lakeside Drive within the Kaiser Center in downtown Oakland. Charlie Allen will head up the office as managing principal. This is the Canadian firm’s 42nd office in the U.S. and its 10th in California.