GOODYEAR, ARIZ. – The 226-unit Broadstone Canyon Trails in Goodyear has sold to HSL Acquisitions, LLC for $23.6 million. The community is located at 16450 W. Van Buren Street. It was originally developed by Alliance Residential in 2008. The seller was Broadstone Canyon Trails, LLC. The transaction was executed by David Fogler and Steven Nicoluzakis of Cassidy Turley Arizona’s Multi-Family Group.
Western
LOS ANGELES — Tryperion Partners, LLC recently closed its first fund, Tryperion RE Fund I, L.P., with $50 million of fully discretionary committed capital. The fund plans to pursue value-add acquisition and recapitalization opportunities. It will focus on existing assets in secondary markets throughout the West and Southwest that are positioned for economic growth. The fund plans to invest in and implement aggressive asset management strategies on office, retail, hospitality and multifamily properties. It is looking to acquire income-producing properties at a discount to both replacement cost and intrinsic value. Tryperion’s equity investments will be between $5 million and $15 million. Tryperion Partners was founded by Joseph Kessel, Eliot Bencuya and Jeffrey Karsh, former professionals at Canyon Capital Realty Advisors.
SCOTTSDALE, ARIZ. — Heckmann Corp. has signed a 10-year lease for 20,162 square feet at the Pinnacle in Kierland I in Scottsdale. The space is located at 14624 N. Scottsdale Road. The lease will commence in the third quarter of 2013. Heckmann Corp. was represented by CBRE’s Chuck Nixon. The landlord, Scottsdale Kierland Property LLC, was represented by Jim Watkins, Craig Coppola and Andrew Cheney of Lee & Associates.
PORTLAND, ORE. — Grant Park Village, a $60-million, mixed-use development in Portland, is scheduled to begin construction June 1. The new development will contain 211 units in five separate buildings. A 34,500-square-foot New Seasons Market will occupy ground-floor space. An additional 13,000 square feet of storefront retail space will also be developed. The site is located on NE Broadway. Grant Park is being developed by Capstone Partners LLC and PCCP, LLC. It will be built by Walsh Construction and designed by LRS Architects and Runberg Architecture Group.
GOODYEAR, ARIZ. – The 226-unit Broadstone Canyon Trails in Goodyear has sold to HSL Acquisitions, LLC for $23.6 million. The community is located at 16450 W. Van Buren Street. It was originally developed by Alliance Residential in 2008. The seller was Broadstone Canyon Trails, LLC. The transaction was executed by David Fogler and Steven Nicoluzakis of Cassidy Turley Arizona’s Multi-Family Group.
LOS ANGELES — Tryperion Partners, LLC recently closed its first fund, Tryperion RE Fund I, L.P., with $50 million of fully discretionary committed capital. The fund plans to pursue value-add acquisition and recapitalization opportunities. It will focus on existing assets in secondary markets throughout the West and Southwest that are positioned for economic growth. The fund plans to invest in and implement aggressive asset management strategies on office, retail, hospitality and multifamily properties. It is looking to acquire income-producing properties at a discount to both replacement cost and intrinsic value. Tryperion’s equity investments will be between $5 million and $15 million. Tryperion Partners was founded by Joseph Kessel, Eliot Bencuya and Jeffrey Karsh, former professionals at Canyon Capital Realty Advisors.
SCOTTSDALE, ARIZ. — Heckmann Corp. has signed a 10-year lease for 20,162 square feet at the Pinnacle in Kierland I in Scottsdale. The space is located at 14624 N. Scottsdale Road. The lease will commence in the third quarter of 2013. Heckmann Corp. was represented by CBRE’s Chuck Nixon. The landlord, Scottsdale Kierland Property LLC, was represented by Jim Watkins, Craig Coppola and Andrew Cheney of Lee & Associates.
NEWARK, CALIF. – The NewPark Mall in Newark has received a $71.5-million refinance. The mall is located at 2086 NewPark Mall. It contains nearly 1.2 million square feet of retail space and serves the tri-cities of Newark, Fremont and Union City in the East Bay area. The mall is anchored by Macy’s, jcpenney, Sears and Burlington Coat Factory. The non-recourse, floating-rate mortgage loan features an initial interest rate of 4.3 percent. The loan’s initial funding is $66.5 million. The remaining $5 million will be earned out once the mall achieves certain milestones, according to its owner, Rouse Properties. The bank loan has a four-year term and a one-year extension option.
EL SEGUNDO, CALIF. — A 200,000-square-foot office complex in El Segundo has sold to Rockwood Capital and Marshall Property & Development for about $25 million. The three-building complex is located at 2100 E. Grand Ave. It was previously occupied by Rhythm & Hues, an Academy Award-winning visual effects firm that filed for bankruptcy protection in February. That company was acquired last month by an affiliate of Prana Studios through a bankruptcy auction. The complex’s new owners plan to invest up to $20 million to redevelop the six-acre property into a creative office campus. The seller, 2100 Grand, LLC, was a related entity of Rhythm & Hues. The off-market, all-cash sale was arranged by Lucent Capital.
LOS ANGELES — Artemis Real Estate Partners has teamed with Primestor Development on behalf of New York Common State Retirement Fund’s $300-million real estate emerging manager program. The joint venture will focus on acquiring institutional-quality, core-plus retail properties in mainstream locations throughout California. The program is looking to invest with best-in-class operating partners.