VICTORVILLE, CALIF. – The 220-unit Riverton of the High Desert in Victorville has sold to a private investor for $19 million. The community is located at 14374 Borego Road. It was built in 2008. The buyer was represented by Alexander Garcia, Jr., Shane McConnell and Ron Harris of Marcus & Millichap. Garcia and McConnell also represented the seller, a developer, in this transaction.
Western
DENVER – A 248-unit multifamily community has commenced construction at the Denver Tech Center. The community is scheduled to open in spring 2014 and resides within the Cherry Creek School District. It is being developed by the Picerne Group in partnership with Grand Peaks Properties. It will be built by Colorado Structures and designed by KTGY Group.
LOS ANGELES — Water's Edge, a 6.5-acre creative office campus in the Los Angeles submarket of Playa Vista, has received a $105-million recapitalization loan. The funds will be used for tenant improvements and leasing commissions for the remaining space.Water's Edge currently includes two buildings totalling 260,000 square feet. It is also entitled for an additional 180,000-square-foot Phase II building, which will commence construction once preleasing is completed. A full-court basketball, sand volleyball court and outdoor swimming pool will open on the campus this summer. Financing was arranged by Rob Verrone of Iron Hound Management on behalf of Maguire Investments. Leasing efforts will be handled by Chris Strickfaden,Anthony Gatti,Brian NiehausandJaclyn Ward of Jones Lang LaSalle.
TRACY, CALIF. – The 156-unit Waterstone Apartment Homes in Tracy has sold to MG Properties Group for $25.2 million. The community is located at 1951 West Middlefield Drive. It was built in 2007. The seller, Fairfield Edgewood Station LP, was represented by Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of IPA, a multifamily brokerage division of Marcus & Millichap.
ALISO VIEJO, CALIF. – A two-story, 16,840-square-foot retail building in Aliso Viejo has sold to Aliso Viejo Town Center, LLC for $6.7 million. The free-standing building is located at 26731 Aliso Creek Road within the Aliso Viejo Town Center. It is 93 percent occupied by tenants like Stadium Brewing Company. Dennis Vaccaro and Christopher Tramontano of Faris Lee Investments represented both the buyer and the seller, Aliso Viejo Investors, LLC, in this transaction.
AURORA, COLO. — The Gardens on Havana, a 9.47-acre site in Aurora, has sold to Post Investment Group for an undisclosed sum. The site is located adjacent to the Buckingham Square Mall Redevelopment. The garden-style development site is near a Sprouts, Target and Kohl’s. The seller, Miller Real Estate Investments, was represented by Steve O’Dell and Chris Cowan of ARA Colorado.
LOS ANGELES — Water's Edge, a 6.5-acre creative office campus in the Los Angeles submarket of Playa Vista, has received a $105-million recapitalization loan. The funds will be used for tenant improvements and leasing commissions for the remaining space. Water's Edge currently includes two buildings totalling 260,000 square feet. It is also entitled for an additional 180,000-square-foot Phase II building, which will commence construction once preleasing is completed. A full-court basketball, sand volleyball court and outdoor swimming pool will open on the campus this summer. Financing was arranged by Rob Verrone of Iron Hound Management on behalf of Maguire Investments. Leasing efforts will be handled by Chris Strickfaden, Anthony Gatti, Brian Niehausand Jaclyn Ward of Jones Lang LaSalle.
TRACY, CALIF. – The 156-unit Waterstone Apartment Homes in Tracy has sold to MG Properties Group for $25.2 million. The community is located at 1951 West Middlefield Drive. It was built in 2007. The seller, Fairfield Edgewood Station LP, was represented by Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of IPA, a multifamily brokerage division of Marcus & Millichap.
ALISO VIEJO, CALIF. – A two-story, 16,840-square-foot retail building in Aliso Viejo has sold to Aliso Viejo Town Center, LLC for $6.7 million. The free-standing building is located at 26731 Aliso Creek Road within the Aliso Viejo Town Center. It is 93 percent occupied by tenants like Stadium Brewing Company. Dennis Vaccaro and Christopher Tramontano of Faris Lee Investments represented both the buyer and the seller, Aliso Viejo Investors, LLC, in this transaction.
AURORA, COLO. — The Gardens on Havana, a 9.47-acre site in Aurora, has sold to Post Investment Group for an undisclosed sum. The site is located adjacent to the Buckingham Square Mall Redevelopment. The garden-style development site is near a Sprouts, Target and Kohl’s. The seller, Miller Real Estate Investments, was represented by Steve O’Dell and Chris Cowan of ARA Colorado.