BRIGHTON, COLO. – The 78-bed Platte Valley Medical Center in Brighton has received a $92.9-million loan modification. The not-for-profit acute care hospital is located at 1600 Prairie Center Parkway. The hospital recently relocated to a new 50-acre campus that features nearly 300,000 square feet of space spread throughout three buildings. The loan carries a fixed interest rate of 2.98 percent for its remaining 19-year term. It was arranged for Brighton Community Hospital Association by Andleeb Dawood of Dougherty Mortgage’s Montana office through HUD’s Section 242 loan insurance program.
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CAMPBELL, CALIF. — A mixed-use apartment development in Campbell has received a $45.2-million construction loan. The community will be located at 1677 South Bascom Ave. just southwest of San Jose. It will contain 168 residential units and 15,000 square feet of retail space. Financing was based on a three-year, interest-only term. It was arranged by John Kerslake of NorthMarq Capital’s San Francisco regional office through the firm’s relationship with a regional bank.
LONE TREE, COLO. – A new 467,000-square foot Charles Schwab campus has broken ground in Lone Tree. The $200-million campus will be situated on more than 40 acres in the RidgeGate community just southeast of Denver. It will allow the brokerage and banking company to consolidate three of its Denver service center facilities. The campus will contain a two-story retail branch building, two additional five-story office buildings and a 15,000-square-foot employee dining facility. It is striving for LEED-Gold certification. The project is scheduled for completion in the third quarter of 2014. It will be built by Mortenson Construction and designed by Fentress Architects.
BRIGHTON, COLO. – The 78-bed Platte Valley Medical Center in Brighton has received a $92.9-million loan modification. The not-for-profit acute care hospital is located at 1600 Prairie Center Parkway. The hospital recently relocated to a new 50-acre campus that features nearly 300,000 square feet of space spread throughout three buildings. The loan carries a fixed interest rate of 2.98 percent for its remaining 19-year term. It was arranged for Brighton Community Hospital Association by Andleeb Dawood of Dougherty Mortgage’s Montana office through HUD’s Section 242 loan insurance program.
CAMPBELL, CALIF. — A mixed-use apartment development in Campbell has received a $45.2-million construction loan. The community will be located at 1677 South Bascom Ave. just southwest of San Jose. It will contain 168 residential units and 15,000 square feet of retail space. Financing was based on a three-year, interest-only term. It was arranged by John Kerslake of NorthMarq Capital’s San Francisco regional office through the firm’s relationship with a regional bank.
The Inland Empire apartment market improved slowly since the end of the recession, as apartment demand received little help from the local job market. In the past year however, an economic recovery finally began to take shape, boosting expectations for accelerated improvements in apartment fundamentals. Prior to 2012, local payroll growth significantly lagged state and national gains. After the U.S. shed more than 8.7 million jobs, employers rehired nearly 66 percent of workers so far nationally. Meanwhile, as 53 percent of laid-off Californians returned to work, the Riverside-San Bernardino metro recouped just 31 percent of the jobs lost. Despite the slow overall recovery in the employment market, Inland Empire job creation surged in 2012. Metrowide employment increased by 34,400 workers last year. This represented a gain of 3 percent and was the largest 12-month rise since September 2006. In comparison, state and national headcounts expanded just 2.3 percent and 1.7 percent, respectively. Hiring has accelerated so far in 2013 with both public and private employers announcing hiring plans. The Riverside County Sheriff’s Department will add 500 deputies, while AT&T plans to add 500 California workers. Many of these workers will be based in Riverside. With job creation expected to build …
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.