HOLLYWOOD, CALIF. — La Brea Regency Lofts in Hollywood has received $19.3 million in construction financing. The lofts will be located at 1616 North La Brea Ave near the Roosevelt Hotel and Grauman’s Chinese Theatre. It will contain 56 residential units and 9,000 square feet of retail space.The three-year balance sheet loan features interest-only payments and a LIBOR-based floating rate. It was negotiated by Tal Savariego and Zev Feder of Meridian Capital Group.
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SEATTLE – The 36-unit Central Element in Seattle has sold to a private investor for $7.7 million. The community is located at 209 22nd Ave. South in the city’s Central Business District. It was built in 1967. Dan Swanson of Marcus & Millichap’s Seattle office represented both the buyer and the seller, a limited liability company, in this transaction.
SAN FRANCISCO – A portfolio sale that includes Apple’s retail store and Bulgari’s flagship location within San Francisco’s Union Square has closed for a total of $160 million. The buyer was a private, U.S.-based investor. The Bulgari Building is located at One Union Square and 212 Stockton Street. It is a fully leased retail and Class A office building. The property is anchored by Bulgari, though it includes other luxury retail and boutique office tenants like Loro Piana, Lacoste, Vera Wang and Union Square Investments. The Apple store is located at 1 Stockton Street. Other notable tenants within the Union Square neighborhood include Barneys New York, bebe, De Beers, Dior, Ferragamo, Gucci, Hermes, Louis Vuitton, Marc Jacobs, MaxMara, Prada, Saks Fifth Ave and Tumi. The seller, Deka Immobilien, was represented by Savills.
HOLLYWOOD, CALIF. — La Brea Regency Lofts in Hollywood has received $19.3 million in construction financing. The lofts will be located at 1616 North La Brea Ave near the Roosevelt Hotel and Grauman’s Chinese Theatre. It will contain 56 residential units and 9,000 square feet of retail space. The three-year balance sheet loan features interest-only payments and a LIBOR-based floating rate. It was negotiated by Tal Savariego and Zev Feder of Meridian Capital Group.
SEATTLE – The 36-unit Central Element in Seattle has sold to a private investor for $7.7 million. The community is located at 209 22nd Ave. South in the city’s Central Business District. It was built in 1967. Dan Swanson of Marcus & Millichap’s Seattle office represented both the buyer and the seller, a limited liability company, in this transaction.
ALISO VIEJO, CALIF. — AEW Capital Management has purchased a 109,948-square-foot, institutional-quality building in Aliso Viejo for an undisclosed sum. The corporate headquarters building is located at 1 Enterprise Drive. The building serves as the corporate headquarters for Microsemi Corporation. It is one of the only single-tenant, Class A buildings to be constructed in the Orange County submarket after 1999. The building is leased to Microsemi through January 2021.The seller, Global Investment Advisor, was represented by CBRE’s Bob Smith, Paul Jones, Kevin Shannonand Ken White.
LOS ANGELES — Plaza La Reina, an extended-stay, hotel/retail project in the Los Angeles submarket of Westwood, will soon be completed. It will be located at 10488-52 Lindbrook Drive. Plaza La Reina, LP has tapped Bernards to finish the partially built project. It will be designed by Moule & Polyzoides.
TUSTIN, CALIF. – LTK Venture 1 has purchased the 70-unit Windsor Gardens in Tustin for $14.9 million. The community is located at 1651 Mitchell Ave. It was originally built in 1968, before it was converted into condominiums in 1985.The seller was the Laughlin Family Partnership. The transaction was executed by Pat Swanson and Brett Bayless of Colliers International’s Irvine office.
ALISO VIEJO, CALIF. — AEW Capital Management has purchased a 109,948-square-foot, institutional-quality building in Aliso Viejo for an undisclosed sum. The corporate headquarters building is located at 1 Enterprise Drive. The building serves as the corporate headquarters for Microsemi Corporation. It is one of the only single-tenant, Class A buildings to be constructed in the Orange County submarket after 1999. The building is leased to Microsemi through January 2021. The seller, Global Investment Advisor, was represented by CBRE’s Bob Smith, Paul Jones, Kevin Shannon and Ken White.
LOS ANGELES — Plaza La Reina, an extended-stay, hotel/retail project in the Los Angeles submarket of Westwood, will soon be completed. It will be located at 10488-52 Lindbrook Drive. Plaza La Reina, LP has tapped Bernards to finish the partially built project. It will be designed by Moule & Polyzoides.