SHERWOOD, ORE. — Merlone Geier has purchased Sherwood Market Center, a 124,259-square-foot retail center in Sherwood, for $22.2 million. The grocery-anchored center is located at 16030 SW Tualatin-Sherwood Road just southwest of Portland. It was built in 1996 on 14 acres. Notable tenants at the center include Albertson’s, Chase Bank, Burger King, UPS and GNC. This was the largest retail transaction in Oregon’s Washington County so far this year, according to Scott Frank, Michael Horwitz and Kevin Adatto of Capital Pacific. The trio represented both the buyer and the seller, Regency Centers, in this transaction.
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BELLEVUE, WASH. — Chatham Lodging Trust has acquired the 231-room Residence Inn by Marriott Seattle Bellevue/Downtown for $71.8 million. The hotel is located along I-405 near the Microsoft, Amazon, Expedia, T-Mobile and AT&T campuses. It is the only extended-stay asset in downtown Bellevue. The hotel is managed by Island Hospitality Management.
PHOENIX — Buchanan Street Partners has acquired a 10-building portfolio based in Phoenix for $52.6 million. The portfolio includes a mix of office, industrial, office flex and retail properties. The 446,000-square-foot portfolio was acquired in four separate sales transactions. It includes an industrial property in Avondale, as well as three assets within the master-planned Cotton Center in Phoenix. The portfolio was 74 percent leased at the time of the sale. Buchanan represented itself in this transaction, while the unnamed seller was represented by Eastdil Secured.
OCEANSIDE, CALIF. – TruAmerica Multifamily has acquired the 221-unit Piazza D’Oro apartment complex in Oceanside for $81 million. The community is located at 3402 Piazza De Oro Way. It also includes 17,000 square feet of office space. This is TruAmerica’s first acquisition. The multifamily investment firm is led by Robert E. Hart and the Guardian Life Insurance Company of America. The seller, Piazza D’Oro, LLC, an affiliate of the ConAm Group, was represented by Kevin Mulhern, Dixie Hall, Rachel Parsons and Tyler Anderson of the CBRE Multi-Housing Investment Properties group. Financing was arranged by Bill Chiles and Scott Peterson of the CBRE Debt & Equity Finance Group.
PHOENIX — Buchanan Street Partners has acquired a 10-building portfolio based in Phoenix for $52.6 million. The portfolio includes a mix of office, industrial, office flex and retail properties. The 446,000-square-foot portfolio was acquired in four separate sales transactions. It includes an industrial property in Avondale, as well as three assets within the master-planned Cotton Center in Phoenix. The portfolio was 74 percent leased at the time of the sale. Buchanan represented itself in this transaction, while the unnamed seller was represented by Eastdil Secured.
BELLEVUE, WASH. — Chatham Lodging Trust has acquired the 231-room Residence Inn by Marriott Seattle Bellevue/Downtown for $71.8 million. The hotel is located along I-405 near the Microsoft, Amazon, Expedia, T-Mobile and AT&T campuses. It is the only extended-stay asset in downtown Bellevue. The hotel is managed by Island Hospitality Management.
OCEANSIDE, CALIF. – TruAmerica Multifamily has acquired the 221-unit Piazza D’Oro apartment complex in Oceanside for $81 million. The community is located at 3402 Piazza De Oro Way. It also includes 17,000 square feet of office space. This is TruAmerica’s first acquisition. The multifamily investment firm is led by Robert E. Hart and the Guardian Life Insurance Company of America. The seller, Piazza D’Oro, LLC, an affiliate of the ConAm Group, was represented by Kevin Mulhern, Dixie Hall, Rachel Parsons and Tyler Anderson of the CBRE Multi-Housing Investment Properties group. Financing was arranged by Bill Chiles and Scott Peterson of the CBRE Debt & Equity Finance Group.
LOS ANGELES – A pair of Southern California medical office portfolios has received $240 million in refinancing. A five-building portfolio in the Golden Triangle district of Beverly Hills received a seven-year, $176.5 million loan. Itcontains medical office and retail properties. A three-building portfolio spread throughout Southern California received a five-year, $63.5 million loan. The Golden Triangle Collection contains a total of 233,980 square feet near Cedars-Sinai Medical Center and UCLA Medical Center. The latter portfolio contains a total of 194,253 square feet. The assets are located in Sherman Oaks, Santa Clarita and La Jolla. Financing was secured by Reid McGlamery and Michael Zietsman of Jones Lang LaSalle, who worked on behalf of G&L Realty. Both loans were supplied by U.S. Bank.
NEWPORT BEACH, CALIF. – A five-property multifamily portfolio based in Orange County has received $90.4 million in refinancing. The assets were located in La Habra, Fullerton, Anaheim, Costa Mesa and Buena Park. The local owner/operator built four of the five properties in the 1970s. Each boasts about a 95 percent occupancy rate. The properties received fully amortizing loans with fixed rates in the mid-4 percent range. The transaction was negotiated by Seth K. Grossman of Meridian Capital Group in partnership with Greg Reed and Kristen Croxton of Beech Street Capital. The loans were placed with a life insurance company lender.
IRVINE, CALIF. – Griffin Capital Corp. has acquired an 82,645-square-foot creative office building in Irvine for $27.2 million. The Class A building is located at 16752 Armstrong Ave. near Tustin Legacy. Motorcross accessories and apparel company Fox Head recently signed a 15-year lease at the facility. The sellers, Shubin Nadal Realty Investors and Penwood Real Estate Investment Management, were represented by Newmark Grubb Knight Frank (NGKF) and CBRE. NGKF also negotiated the Fox Head lease.