CHATSWORTH, CALIF. — Panavision Federal Systems has signed a three-year lease for a 22,775-square-foot office/industrial building in Chatsworth. The building is located at 9340 De Soto Street. The company will expand and relocate to the new facility in late January. Panavision Federal was represented by Brock Burnett, Jeff Gould and Jeff Albee of Colliers International. The landlord, Northeast Valley Industrial Parks, was represented by Scott Caswell of Delphi Business Properties.
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SAN DIEGO — The 337-room Embassy Suites San Diego Bay – Downtown has sold to Pebblebrook Hotel Trust for $112.5 million. The hotel is located at the corner of Harbor Drive and Pacific Highway near Seaport Village in San Diego. The hotel underwent a $3.5-million renovation in May 2012. Pebblebrook will assume a $66.8-million secured, non-recourse loan as part of the transaction. HEI Hotels and Resorts will manage the property.
TUSTIN, CALIF. –The Matteson Companies has received $21.7 million in acquisition financing that will be used to purchase the93-unit Tustin Cottages. The community is located at 1361 El Camino Real in Tustin. Financing was based on a 10-year term and a 30-year amortization schedule. It was arranged by Dennis Williams and Robert Hervey of NorthMarq Capital through the firm’s relationship with a correspondent life company lender.
PEORIA, ARIZ. – The Plaza Del Rio campus in Peoria will soon be home to two new residential communities. The Preserve at Plaza Del Rio will add 185 new homes to the campus, while Silverado Senior Living will add 90 new residences. Maracay Homes is developing The Preserve in three phases. Meridian Realty recently broke ground on Silverado Senior Living. The Plaza Del Rio campus already contains a mix of medical office, commercial office, retail, residential and senior living facilities.
CHATSWORTH, CALIF. — Panavision Federal Systems has signed a three-year lease for a 22,775-square-foot office/industrial building in Chatsworth. The building is located at 9340 De Soto Street. The company will expand and relocate to the new facility in late January. Panavision Federal was represented by Brock Burnett, Jeff Gould and Jeff Albee of Colliers International. The landlord, Northeast Valley Industrial Parks, was represented by Scott Caswell of Delphi Business Properties.
FLAGSTAFF, ARIZ. – The 194-unit Alpine Ridge Apartments in Flagstaff has sold to Bascom Arizona Ventures, LLC for $13.5 million. The LLC worked on behalf of a fully discretionary fund. Alpine is the closest privately owned apartment community to Northern Arizona University. The seller was represented by Robert L. Chester of Quantum Realty Partners. Morrison, Ekre & Bart Management Services will manage the community.
WHEAT RIDGE, COLO. – The 308-unit Kipling Village Apartments in Wheat Ridge has received a $12.2-million refinance. Wheat Ridge is a Western suburb of Denver. The non-recourse, cash-out refinance loan was provided by George Smith Partners(GSP) on behalf of Kipling Village, LLC. It features a 3.96 percent fixed interest rate for 10 years with a 30-year amortization schedule. The loan was executed by Fannie Mae.
LOS ANGELES — Milano Lofts, a 131,433-square-foot, mixed-use facility in Downtown Los Angeles, has sold to Equity Residential for an undisclosed sum. The Art Deco-style community is located at 609 S. Grand Ave. It contains 99 luxury residential units atop more than 6,000 square feet of ground-floor retail space. The space is occupied by Industriel and Yorkshire Grill restaurants. Milano was fully occupied at the time of sale. Janet Neman and Bryan Glenn of Charles Dunn Company represented both the buyer and the seller, Grand Pacific Lofts, LP, in this off-market transaction.
SCOTTSDALE, ARIZ. — Meritage Homes has leased 57,784 square feet at Raintree Corporate Center in Scottsdale. The Class A office building is located at 8800 E. Raintree Drive. The company will be relocating from the southeast corner of 85th Street and Perimeter Drive. This new lease will bring Raintree to nearly 90 percent occupancy. The landlord, iStar Financial, was represented by Brad Anderson, Bryan Taute and Michael Strittmatter of CBRE’s Phoenix office.
FLAGSTAFF, ARIZ. – The 194-unit Alpine Ridge Apartments in Flagstaff has sold to Bascom Arizona Ventures, LLC for $13.5 million. The LLC worked on behalf of a fully discretionary fund. Alpine is the closest privately owned apartment community to Northern Arizona University. The seller was represented by Robert L. Chester of Quantum Realty Partners. Morrison, Ekre & Bart Management Services will manage the community.