LODI, CALIF. — North American Pipe Corporation has purchased CertainTeed’s Pipe and Foundation Group(PFG), which includes its Lodi manufacturing and operating facilities, for $175 million. CertainTeed Corporation is a subsidiary of the French companyCompagnie de Saint-Gobain. North American Pipe Corporation is a subsidiary of Westlake Chemical Corporation. PFG produces PVC pipes and fittings for municipal, water well, mining, agriculture and irrigation applications at its plant. The sale also included the PVC pipe, fittings, technologies and intellectual properties, profiles and foundations business, as well as an additional plant in McPherson, Kan.
Western
TRUCKEE, CALIF. — The Northstar Lodge, a Hyatt Residence Club in Truckee, has sold to Welk Resort Group for an undisclosed sum. The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, as well as two entitled development parcels. The parcels are entitled for an additional 67 units totaling 102,619 square feet. The ski-in/ski-out private residence club is located at the base of Northstar Mountain in Lake Tahoe. The seller, LTMR Properties, LLC, was represented by HFF’s Holden Lim and Scott Hall.
TEMPE, ARIZ. — A two-building, Class A office complex in Tempe has received $34 million in first-mortgage refinancing. The buildings are located at 100 & 150 West University Drive. They contain a total of 299,000 square feet and are currently 99 percent occupied. JP Morgan Chase occupies about 90 percent of the space. The funds were provided to Brookfield Asset Management by Jason Bressler of Mesa West. Financing was arranged by HFF’s John Ahmed.
GILBERT, ARIZ. – The 147-unit Legacy Village at Gilbert Towne Center has sold to a San Diego-based private investor for $15.6 million. The community is located at 351 East Civic Center Drive in Gilbert. The buyer was represented by Dixie Hall of CB Richard Ellis’ San Diego office. The seller, Legacy Partners Residential, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office.
LODI, CALIF. — North American Pipe Corporation has purchased CertainTeed’s Pipe and Foundation Group (PFG), which includes its Lodi manufacturing and operating facilities, for $175 million. CertainTeed Corporation is a subsidiary of the French company Compagnie de Saint-Gobain. North American Pipe Corporation is a subsidiary of Westlake Chemical Corporation. PFG produces PVC pipes and fittings for municipal, water well, mining, agriculture and irrigation applications at its plant. The sale also included the PVC pipe, fittings, technologies and intellectual properties, profiles and foundations business, as well as an additional plant in McPherson, Kan.
TRUCKEE, CALIF. — The Northstar Lodge, a Hyatt Residence Club in Truckee, has sold to Welk Resort Group for an undisclosed sum. The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, as well as two entitled development parcels. The parcels are entitled for an additional 67 units totaling 102,619 square feet. The ski-in/ski-out private residence club is located at the base of Northstar Mountain in Lake Tahoe. The seller, LTMR Properties, LLC, was represented by HFF’s Holden Lim and Scott Hall.
TEMPE, ARIZ. — A two-building, Class A office complex in Tempe has received $34 million in first-mortgage refinancing. The buildings are located at 100 & 150 West University Drive. They contain a total of 299,000 square feet and are currently 99 percent occupied. JP Morgan Chase occupies about 90 percent of the space. The funds were provided to Brookfield Asset Management by Jason Bressler of Mesa West. Financing was arranged by HFF’s John Ahmed.
GILBERT, ARIZ. – The 147-unit Legacy Village at Gilbert Towne Center has sold to a San Diego-based private investor for $15.6 million. The community is located at 351 East Civic Center Drive in Gilbert. The buyer was represented by Dixie Hall of CB Richard Ellis’ San Diego office. The seller, Legacy Partners Residential, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office.
SAN FRANCISCO – A 21-story tower office tower located at 100 Spear Street in San Francisco has sold to Prudential Real Estate Investors for $100 million. The 203,071-square-foot building resides near Market Street in the city’s South Financial District. It was 91.5 percent leased at the time of closing. The tower has undergone a $4.5-million renovation and modernization over the past four years. The seller, Clarion Partners, was represented by HFF’sGerry Rohm, Michael Leggett and Dave Karol.
DENVER, PHOENIX — BRE Properties has sold its joint venture interests in six multifamily properties throughout Denver and Phoenix for $47.5 million. The interests were sold to the firm’s joint venture partner. The six communities included in the sale are the Bluffs at Highland Ranch; the Fairways at Raccoon Creek; Pinnacle at DTC; Pinnacle at Mountain Gate in Denver, as well as Pinnacle at Union Hills and Pinnacle Terrace in Phoenix. The sale of these communities resulted in a net gain of about $15 million. BRE is currently focused on high-quality apartment communities in targeted growth markets like California and Seattle.