SANTA ANA, CALIF. — Kulicke & Soffa has leased 66,538 square feet at Irvine Corporate Center in Santa Ana. The center is located at 1821 E. Dyer Road. The semiconductor designer and manufacturer will be relocating from its current regional headquarters in Irvine. Irvine Corporate Center is located within the Irvine Business Complex. Kulicke & Soffa was represented by Ken Ward and Dillon Dummit of Cresa Orange County. The landlord, a joint venture between Hines and Oaktree Capital Management, was represented by Joe Bevan and Wade Clark of Jones Lang LaSalle Orange County.
Western
SAN DIEGO — The Meadows Apartment Homes, an 86-unit multifamily community in the Vista submarket of San Diego, has sold to the Apartment Company for $11.3 million. The community is located at 1110-1155 Meadowlake Drive. The Apartment Company represented itself in this transaction, while the seller, a private partnership controlled by MG Properties Group, was represented by Kevin Mulhern, Dixie Hall and Rachel Parsons of CBRE San Diego.
GILBERT, ARIZ. – The 120-unit Legacy Village in Gilbert has received $10 million in first-mortgage acquisition financing. The community is located at351 S. Civic Center Drive. Financing was based on a 10-year term with two years of interest-only followed by a 30-year amortization schedule. Financing was arranged by Gardiner Champlin and Marty Meagher of NorthMarq Capital’s San Diego office through the firm’s seller-servicer relationship with Freddie Mac. The borrower was The Reserve at Gilbert Towne Centre, LLC.
DENVER — The DESCi Apartments, a 93-unit multifamily community in Denver, has sold to Brian Botnick for $8.3 million. The complex was built in 1963 by Denver Educational Senior Citizens Inc. (DESCi), a local non-profit organization. It provides affordable housing to Denver Public School employees, retirees, their relatives and those in related professions who are age 55 and older. Jeff Johnson of the Johnson Ritter Team at Pinnacle Real Estate Advisors represented both the buyer and the seller in this transaction.
SAN DIEGO — The Meadows Apartment Homes, an 86-unit multifamily community in the Vista submarket of San Diego, has sold to the Apartment Company for $11.3 million. The community is located at 1110-1155 Meadowlake Drive. The Apartment Company represented itself in this transaction, while the seller, a private partnership controlled by MG Properties Group, was represented by Kevin Mulhern, Dixie Hall and Rachel Parsons of CBRE San Diego.
GILBERT, ARIZ. – The 120-unit Legacy Village in Gilbert has received $10 million in first-mortgage acquisition financing. The community is located at351 S. Civic Center Drive. Financing was based on a 10-year term with two years of interest-only followed by a 30-year amortization schedule. Financing was arranged by Gardiner Champlin and Marty Meagher of NorthMarq Capital’s San Diego office through the firm’s seller-servicer relationship with Freddie Mac. The borrower was The Reserve at Gilbert Towne Centre, LLC.
DENVER — The DESCi Apartments, a 93-unit multifamily community in Denver, has sold to Brian Botnick for $8.3 million. The complex was built in 1963 by Denver Educational Senior Citizens Inc. (DESCi), a local non-profit organization. It provides affordable housing to Denver Public School employees, retirees, their relatives and those in related professions who are age 55 and older. Jeff Johnson of the Johnson Ritter Team at Pinnacle Real Estate Advisors represented both the buyer and the seller in this transaction.
SAN MATEO, CALIF. – A 111-unit, $43.7-million apartment complex recently broke ground in San Mateo. The 2.4-acre site is located at 2090 S. Delaware Street at the north end of Silicon Valley. The project is scheduled to be complete and ready for leasing in spring 2014. It is being developed by Wood Partners.
PITTSBURG, CALIF. – The 208-unit Presidents Park Apartments in Pittsburg has sold to
ONTARIO, CALIF. — Lake View Center, a 106,345-square-foot office property in Ontario, has sold to BH Properties for $13.8 million. The office complex is located at 3257 & 3237 E. Guasti Road. It is currently 62 percent leased. Notable tenants include East West Bank, T-Mobile and the University of La Verne. BH Properties plans to invest additional capital into the project. BH Properties represented itself in this transaction, while the sellers, PCCP and the Muller Companies, were represented by CBRE’s Kevin Shannon, Darla Longo and Phil Woodford.