FORT COLLINS, COLORADO SPRINGS, COLO. – A pair of Class A seniors housing communities in Colorado has received $73.8 million in financing. The communities are located in Fort Collins and Colorado Springs. They contain a total of 316 independent, assisted and memory care units. Both properties opened in 2008. They are operated by Leisure Care. The Fannie Mae cross-collateralized Structured Adjustable Rate Mortgage loans feature 10-year terms with two years interest-only. The loans were closed by Red Mortgage Capital, LLC, the mortgage banking arm of RED CAPITAL GROUP, LLC, which worked on behalf of HJ Sims Investments.
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SACRAMENTO, CALIF. – The 646-unit Woodlake Village Apartments in Sacramento has received $36 million in acquisition financing. The community is located at 200 Bicentennial Circle near Sacramento State University. It was built in 1979. The 10-year Fannie Mae loan features a 4.92 percent fixed rate. It was originated by Mitch Clarfield of Berkeley Point’s Santa Monica office on behalf of the buyer, Horizon Realty Partners (HRA).
SAN DIEGO — An affiliate of Starwood Capital Group Global has purchased a 12-property office portfolio in San Diego for an undisclosed sum. The properties are located throughout the Sorrento Mesa and Rancho Bernardo submarkets. They contain a total of 1.1 million square feet. The portfolio was 91 percent leased. The seller, Kilroy Realty Corporation, was represented by HFF’s Nick Psyllos, Ryan Gallagher and Michael Leggett. The firm’s Tim Wright, Don Curtis and Aldon Cole also arranged a variable-rateacquisition loan for the buyer. Wells Fargo Bank and CIBC were the senior lenders, while Goldman Sachs was the mezzanine lender.
LOS ANGELES — The Pointe, a 480,400-square-foot office building in Los Angeles, has received $220 million in refinancing. The trophy office building is located in Burbank’s Media District. It is currently 69 percent leased to tenants like Warner Brothers, Outlook Amusements, FreMantle Media, Legendary Pictures, KCET and Fidelity. The financing included $35 million of mezzanine debt, which was placed at closing with Morgan Stanley Real Estate Investing. It was arranged by Jonathan Firestone and J.P. LeVeque of Eastdil Secured and provided by Ronnie Gul of Mesa West Capital. The Pointe is owned by a joint venture between affiliates of Stockbridge Capital Group, Worthe Real Estate Group and M. David Paul & Associates.
LOS ANGELES – The 335-unit Piero II Apartments in Downtown Los Angeles has received $70 million in financing. The community is located at 609 St. Paul Avenue. The non-recourse loan features a five-year, interest-only term. It was used to pay off the property’s maturing $65-million construction debt. The community was built in 2011 and is currently more than 95 percent leased. Financing was arranged by George Smith Partners (GSP) through an off-shore commercial bank.
LOS ANGELES — Wilshire Robertson Plaza, a 119,421-square-foot office building in Beverly Hills, has received $18 million in refinancing. The plaza is located at 8750 Wilshire Blvd. Notable tenants include Alloy Digital, Mad Old Nut Productions and Radnet Sub, Inc. The loan features a nine-year term and a 25-year amortization schedule. Financing was arranged by Robert R. Hervey of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a correspondent life company.
SEATTLE – A 19,440-square-foot development site in Seattle has sold to British Columbia Investment Management Corporation (bcIMC) for $17.7 million. The site is located at 2000 Third Ave. near the city’s Belltown neighborhood. The buyer plans to build a 400-foot, high-rise apartment tower with ground-floor retail on the site. The transaction was executed by David Young, Corey Marx and Seth Heikkila of Jones Lang LaSalle’s Capital Markets.
TEMPE, ARIZ. — Tempe Commerce Center, a 177,848-square-foot industrial complex in Tempe, has sold to Presson Corporation for $11.8 million. The nine-building center is located at 6105-6125 S. Ash, 124-148 W. Orion, 125 W. Gemini and 6100-6202 S. Maple. It was built in 1982. The seller was Kieckhefer Properties. The transaction was executed by Bob Buckley, Steve Lindley and Tracy Cartledge of Cassidy Turley’s Capital Markets Group.
VERNON, CALIF. — Gramercy Property Trust has purchased two industrial buildings in Vernon for $14.7 million. They are located at 5764 Alcoa and 3311 Slauson, and total 129,720 square feet. The buildings were occupied and owned by Douglas Steel Supply Company. A triple-net leaseback was included in the transaction that will allow Douglas to occupy the spaces through 2028. Douglas was represented by Barbara Emmons, Brandon Gill, Mike Kendall and Rebecca Perlmutter of CBRE.
CARLSBAD, CALIF. – The 12-unit Sea Breeze condominium complex in Carlsbad has sold to Global Integrity Realty for $5.2 million. The complex is located at 3150 Ocean Street. It was built in 1982. Global Integrity represented itself in this transaction, while the seller, Holualoa Companies, was represented by Philip Buckley of CBRE San Diego. Universe Holdings will act as Global Integrity’s general partner.