BELLEVUE, WASH. – A 58,000-square-foot development site located in Bellevue’s Central Business District has sold to NIU Enterprises for $31 million. It is located at 437-527 108th Avenue N.E. The sellers, Milt and Sue Walter, have owned the site for more than 30 years. It is currently occupied by two restaurants, Las Margaritas and Nibbana. The sellers were represented by Andy Miller, Jason Rosauer, Dave Speers and Rob Anderson of Kidder Mathews. NIU is a limited liability company that was formed by a group of Chinese investors and companies.
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AURORA, COLO. – The 351-unit Del Arte Lofts & Flats in Aurora has sold to E2M Strategic Fund, LP for an undisclosed sum. The community is located at 151 S. Joliet Circle. E2M is E2M Partners’ fourth private equity fund. It teamed with Wood Partners on this particular fund. This is the seventh acquisition the fund has made, bringing its total assets under management to more than $160 million.
GARDEN GROVE, CALIF. – A 40,274-square-foot industrial building in Garden Grove has sold to ProPlas Technologies for $4.1 million. The building is located at 14321 Corporate Drive. The new owner plans to execute a major renovation at the building before it relocates from nearby Gardena. The plastic injection molding and contract manufacturing company was represented by Brandon Carrillo, Greg Gill and Dylan Espley of Lee & Associate’s Long Beach office. The seller, Serella Revocable Trust, was represented by Mike Bouma and Paul Caputo of Voit.
VISALIA, CALIF. – A 57,254-square-foot shopping center in Visalia has sold to a family trust for $4 million. It is located at 3230-3298 S. Mooney Blvd. The center was 60 percent occupied by tenants like King Buffet and Tuesday Morning at the time of sale. The seller, Trion Properties, acquired a non-performing note on the asset through an all-cash transaction from a regional bank. The bank needed to remove the center from its books by the end of the year. CBRE’s Nick Whitstone handled the note sale. The latest sale was executed by Mark Denholm of CORE Commercial.
BELLEVUE, WASH. – A 58,000-square-foot development site located in Bellevue’s Central Business District has sold to NIU Enterprises for $31 million. It is located at 437-527 108th Avenue N.E. The sellers, Milt and Sue Walter, have owned the site for more than 30 years. It is currently occupied by two restaurants, Las Margaritas and Nibbana. The sellers were represented by Andy Miller, Jason Rosauer, Dave Speers and Rob Anderson of Kidder Mathews. NIU is a limited liability company that was formed by a group of Chinese investors and companies.
AURORA, COLO. – The 351-unit Del Arte Lofts & Flats in Aurora has sold to E2M Strategic Fund, LP for an undisclosed sum. The community is located at 151 S. Joliet Circle. E2M is E2M Partners’ fourth private equity fund. It teamed with Wood Partners on this particular fund. This is the seventh acquisition the fund has made, bringing its total assets under management to more than $160 million.
GARDEN GROVE, CALIF. – A 40,274-square-foot industrial building in Garden Grove has sold to ProPlas Technologies for $4.1 million. The building is located at 14321 Corporate Drive. The new owner plans to execute a major renovation at the building before it relocates from nearby Gardena. The plastic injection molding and contract manufacturing company was represented by Brandon Carrillo, Greg Gill and Dylan Espley of Lee & Associate’s Long Beach office. The seller, Serella Revocable Trust, was represented by Mike Bouma and Paul Caputo of Voit.
VISALIA, CALIF. – A 57,254-square-foot shopping center in Visalia has sold to a family trust for $4 million. It is located at 3230-3298 S. Mooney Blvd. The center was 60 percent occupied by tenants like King Buffet and Tuesday Morning at the time of sale. The seller, Trion Properties, acquired a non-performing note on the asset through an all-cash transaction from a regional bank. The bank needed to remove the center from its books by the end of the year. CBRE’s Nick Whitstone handled the note sale. The latest sale was executed by Mark Denholm of CORE Commercial.
LOS ANGELES – A new commercial real estate brokerage and advisory firm, BentleyGlobal, has been launched in Century City, a submarket of Los Angeles. The new company will serve clients on a national basis and will focus on leasingand asset management. While brokeragerepresentation will be the firm’s primary service, BentleyGlobalwill also offer fee-driven portfolio and single-asset management, propertymanagement and advisory services.
DENVER – An urban infill apartment community in Denver has received $64.3 million in refinancing. The community was built in two phases. Phase I includes a 266-unit high-rise, Class A apartment community that was built in 2004. Phase II includes a 134-unit mid-rise, Class A apartment community that was built in 2012. The loans were originated under the Fannie Mae Delegated Underwriting and Servicing (DUS) program. The sponsor is a joint venture between a privately held real estate organization in Boston and a public pension fund. The loan was provided by Berkeley Point Capital LLC.