GARDENA, CALIF. — Gateway Crossings, a 120,304-square-foot community center, has sold to a private family trust for an undisclosed sum. The recently redeveloped center is located at 641-739 W. Redondo Beach Blvd. It is 96 percent leased to tenants like Ross Dress for Less, Staples, Goodwill, UEI College, Anna’s Linens, Subway and Ono Hawaiian. Donald MacLellan and Michael Ward of Faris Lee Investments represented both the buyer and the seller, a joint venture partnership of PCCP, LLC and La Caze Development, in this transaction. The buyer was in a 1031 exchange.
Western
COMMERCE, CALIF. – A seven-acre logistics facility in Commerce has sold to CenterPoint Properties for an undisclosed sum. The property is located at 5800 Sheila Street near the BNSF and Union Pacific intermodal rail yards. The transload facility includes a container yard. It is currently occupied by Pacer Cartage, a subsidiary of the Pacer International. CenterPoint was represented by Jack Cline Jr. and Gregory Gill of Lee & Associates.
GOLETA, CALIF. – The 63-unit New Tahitian Apartments in Goleta has received $9.3 million in acquisition financing. The student housing community is located at 6739 El Colegio Road near the University of California, Santa Barbara (UCSB). The loan features a 30-year term and a 30-year amortization schedule with a five-year fixed interest rate. Financing was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office through the firm’s relationship with a national bank.
ANAHEIM, CALIF. – The 24-unit La Palma Apartments in Anaheim has sold to Safe Harbor Exchange for $4.9 million. The community is located at 2018-2114 East La Palma Ave. It was built in 1963. The transaction was executed by Peter M. Hauser and Steven C. Brombal of Hendricks-Berkadia’s Newport Beach office. The seller was Equity Holdings, LLC.
GARDENA, CALIF. — Gateway Crossings, a 120,304-square-foot community center, has sold to a private family trust for an undisclosed sum. The recently redeveloped center is located at 641-739 W. Redondo Beach Blvd. It is 96 percent leased to tenants like Ross Dress for Less, Staples, Goodwill, UEI College, Anna’s Linens, Subway and Ono Hawaiian. Donald MacLellan and Michael Ward of Faris Lee Investments represented both the buyer and the seller, a joint venture partnership of PCCP, LLC and La Caze Development, in this transaction. The buyer was in a 1031 exchange.
COMMERCE, CALIF. – A seven-acre logistics facility in Commerce has sold to CenterPoint Properties for an undisclosed sum. The property is located at 5800 Sheila Street near the BNSF and Union Pacific intermodal rail yards. The transload facility includes a container yard. It is currently occupied by Pacer Cartage, a subsidiary of the Pacer International. CenterPoint was represented by Jack Cline Jr. and Gregory Gill of Lee & Associates.
HILLSBORO, ORE. — The Springs at Tanasbourne, a 230-unit independent living, assisted living and memory care facility in Hillsboro, has received $36.3 million in financing. The community is located at 1950 NW 192nd Ave. The 10-year loan includes a fixed interest rate and a 30-year amortization schedule. The funds were used to refinance an existing construction loan. Carolyn Nazdin, Charlie Shoop and Doug Checketts of KeyBank Real Estate Capital 's Seniors Housing and Healthcare Groups provided the Fannie Mae loan. The borrower was a joint venture between affiliates of Ventas, Inc. and the Springs Living.
AURORA, COLO. – The 420-unit Sommerset Gardens in Aurora has received $31.6 million in acquisition financing. The Class B community is located at14304 E. Tennessee Ave. The community was built in two phases between 1981 and 1983. It has undergone minor renovations over the years. Sponsor Kennedy Wilson plans to invest $5 million to further upgrade the property. The loan features a 12-year term with five years interest-only at a fixed rate of 4.27 percent. Financing was provided by Berkeley Point Capital LLC under the Fannie Mae Delegated and Underwriting and Servicing (DUS) program.
LIVERMORE, CALIF. — Granada Shopping Center, a 69,325-square-foot shopping center in Livermore, has sold to Retail Opportunity Investments Corp. for $17.5 million. The center is located at 1951 Holmes Street. It was 91 percent leased at the time of sale. Granada is anchored by Lucky Supermarket. Other tenants include Fairmont Bank, Cosmo Prof, Curves, Subway and Country Waffles. The seller was Granada Retail, LLC. Edward B. Hanley of Hanley Investment Group Real Estate Advisors assisted with the sale.
HILLSBORO, ORE. — The Springs at Tanasbourne, a 230-unit independent living, assisted living and memory care facility in Hillsboro, has received $36.3 million in financing. The community is located at 1950 NW 192nd Ave. The 10-year loan includes a fixed interest rate and a 30-year amortization schedule. The funds were used to refinance an existing construction loan. Carolyn Nazdin, Charlie Shoop and Doug Checketts of KeyBank Real Estate Capital 's Seniors Housing and Healthcare Groups provided the Fannie Mae loan. The borrower was a joint venture between affiliates of Ventas, Inc. and the Springs Living.