SAN DIEGO — Park Crest, a 71-unit senior housing community in San Diego, has sold to the San Diego Housing Commission for $6.3 million. It is located at 5330 Orange Ave. The Housing Commission was represented by Victor Krebs and Rob Morgan of Colliers International. The seller, Walz Family Trust, was represented by Peter Scepanovic and Corey McHenry, also from Colliers.
Western
LOS ANGELES — A nine-unit apartment building located at 11907 Texas Ave. in Los Angeles has sold to a private investor for $2.3 million. The community was built in 1975. The buyer was represented by Robert Narchi of Marcus & Millichap’s West Los Angeles office. The seller, also a private investor, was represented by Tony Azzi from the same office.
ONTARIO, CALIF. – The 469-unit Landmark at Ontario Towne Center has sold to a subsidiary of Camden Property Trust for an undisclosed sum. It is located within the master-planned Piemonte at Ontario Center development. The community was 95 percent occupied at the time of sale. The seller, a fund advised by Prudential Real Estate Investors, was represented by CBRE’s Paul Runkle, Tyler Anderson and Laurie Lustig-Bower.
CHANDLER, ARIZ. – An 83,183-square-foot office building in Chandler that is fully leased to Orbital Sciences has sold to Paramount International LLC for $19.5 million. The building is located at 3377 S. Price Road within the Price Corridor. Paramount was represented by Tivon Moffitt of Colliers International. The seller, Gilbane Development Company, was represented by Barry Gabel and Mindy Korth of CBRE’s Phoenix office.
GLENDALE, ARIZ. – The 176-unit Sagewood Apartments in Glendale has received $6.1 million in first-mortgage financing. The community is located at 15082 North 59th Street. The funds represented a refinance of a bridge loan that was funded in 2010. The new loan includes a seven-year term with two years interest-only and a 30-year amortization schedule. It was arranged by Luke Donahue of NorthMarq Capital’s Phoenix office through the firm’s seller-servicer relationship with Freddie Mac.
DENVER — Cabela's, a national sporting goods and outdoor store, has purchased a 10.68-acre retail site in Denver for $3.7 million. It is located on the Southwest corner of Interstate 25 and Ridgegate Parkway. A 105,000-square-foot Cabela's is set to be constructed on the site. It is scheduled to open in spring 2013. The site is part of a 30-acre retail master-planned development.
ONTARIO, CALIF. – The 469-unit Landmark at Ontario Towne Center has sold to a subsidiary of Camden Property Trust for an undisclosed sum. It is located within the master-planned Piemonte at Ontario Center development. The community was 95 percent occupied at the time of sale. The seller, a fund advised by Prudential Real Estate Investors, was represented by CBRE’s Paul Runkle, Tyler Anderson and Laurie Lustig-Bower.
CHANDLER, ARIZ. – An 83,183-square-foot office building in Chandler that is fully leased to Orbital Sciences has sold to Paramount International LLC for $19.5 million. The building is located at 3377 S. Price Road within the Price Corridor. Paramount was represented by Tivon Moffitt of Colliers International. The seller, Gilbane Development Company, was represented by Barry Gabel and Mindy Korth of CBRE’s Phoenix office.
GLENDALE, ARIZ. – The 176-unit Sagewood Apartments in Glendale has received $6.1 million in first-mortgage financing. The community is located at 15082 North 59th Street. The funds represented a refinance of a bridge loan that was funded in 2010. The new loan includes a seven-year term with two years interest-only and a 30-year amortization schedule. It was arranged by Luke Donahue of NorthMarq Capital’s Phoenix office through the firm’s seller-servicer relationship with Freddie Mac.
DENVER — Cabela's, a national sporting goods and outdoor store, has purchased a 10.68-acre retail site in Denver for $3.7 million. It is located on the Southwest corner of Interstate 25 and Ridgegate Parkway. A 105,000-square-foot Cabela's is set to be constructed on the site. It is scheduled to open in spring 2013. The site is part of a 30-acre retail master-planned development.