TUCSON, ARIZ. — The District on 5th Avenue, a new 208-unit student housing community near the University of Arizona, has sold to Education Realty Trust for $67 million. It is located at 550 North Fifth Ave. The seller, Residential Housing, was represented by Peter Katz of Institutional Property Advisors.
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PORTLAND, ORE. — A four-property seniors housing portfolio that is based in Portland has received $56 million in financing. The portfolio, which totals 419 units, includes Carman Oaks in Lake Oswego; Cedar Creek in Sherwood; the Wilsonville in Wilsonville; and Mill Creek Point in The Dalles. The portfolio boasts an overall occupancy rate of 86 percent. It contains a mix of independent living, assisted living and memory care units. The five-year, floating-rate loan facilitated the properties’ acquisitions, repositioning and renovations. It was secured by HFF’s Stephen Skok and Timothy Joyce on behalf of Harrison Street Real Estate Capital, LLC and The Springs Living.
IRVINE, CALIF. – A 59,213-square-foot R&D facility in Irvine has sold to an unnamed buyer for $6.5 million. The corporate headquarters facility is located at 1 Morgan in the Irvine Spectrum. The buyer was represented by Max Wang and John Griffin of Voit Commercial. The seller, One Morgan LLC, was represented by Charlie Winn and Craig Sullivan of DAUM’s Orange County office.
LOS ANGELES – Groceries Apparelhas moved and expanded its corporate headquarters and manufacturing facilities to Alameda Square in Downtown Los Angeles. The men’s and women’s apparel manufacturer, distributor and wholesaler has signed a five-year lease with EVOQ Properties. It plansto occupy 33,000 square feet of Building 2 at Alameda Square. The new space will allow the retailer to nearly double its operations.
TUCSON, ARIZ. — The District on 5th Avenue, a new 208-unit student housing community near the University of Arizona, has sold to Education Realty Trust for $67 million. It is located at 550 North Fifth Ave. The seller, Residential Housing, was represented by Peter Katz of Institutional Property Advisors.
PORTLAND, ORE. — A four-property seniors housing portfolio that is based in Portland has received $56 million in financing. The portfolio, which totals 419 units, includes Carman Oaks in Lake Oswego; Cedar Creek in Sherwood; the Wilsonville in Wilsonville; and Mill Creek Point in The Dalles. The portfolio boasts an overall occupancy rate of 86 percent. It contains a mix of independent living, assisted living and memory care units. The five-year, floating-rate loan facilitated the properties’ acquisitions, repositioning and renovations. It was secured by HFF’s Stephen Skok and Timothy Joyce on behalf of Harrison Street Real Estate Capital, LLC and The Springs Living.
IRVINE, CALIF. – A 59,213-square-foot R&D facility in Irvine has sold to an unnamed buyer for $6.5 million. The corporate headquarters facility is located at 1 Morgan in the Irvine Spectrum. The buyer was represented by Max Wang and John Griffin of Voit Commercial. The seller, One Morgan LLC, was represented by Charlie Winn and Craig Sullivan of DAUM’s Orange County office.
LOS ANGELES – Groceries Apparel has moved and expanded its corporate headquarters and manufacturing facilities to Alameda Square in Downtown Los Angeles. The men’s and women’s apparel manufacturer, distributor and wholesaler has signed a five-year lease with EVOQ Properties. It plansto occupy 33,000 square feet of Building 2 at Alameda Square. The new space will allow the retailer to nearly double its operations.
GLENDALE, ARIZ. – Cactus Crossings, a 91,563-square-foot neighborhood retail center in Glendale, has sold to WVP Cactus, LLC for $7.8 million. It is located at the northeast corner of 67th Avenue and Cactus Road. The center is 92 percent occupied. Notable tenants include Anytime Fitness, Edward Jones, Ultra Cleaners and Century 21 Realty. It is anchored by Big Lots. The seller, EC Cactus Crossings, LLC, was represented by Ryan Schubert and Michael Hackett of Cassidy Turley Arizona’s Retail Capital Markets Group.
TUCSON, ARIZ. – The former Pella Corporation building in Tucson has sold to BH Pella Drive, LLC for $5.2 million. The buyer is an affiliate of BH Properties. The 260,000-square-foot manufacturing and warehouse facility, also known as the Aero Business Park, is located at 6700 South Pella Drive. BH Properties was represented by Steve Cohen and Russell Hall of Picor Commercial Real Estate Services. The seller, Pella Corporation, was represented by Chuck Pawlak of Binswanger.