LOS ANGELES — Westwood Center, a 34,136-square-foot shopping center in Los Angeles, has received $5.5 million in financing. The center is located at 2180 Westwood Blvd. It is fully occupied by tenants such as Subway, Fast Frame, Beauty Supplies and MB Nails. The seven-year loan, which was used to refinance existing debt, carries a 5 percent fixed interest rate. HFF’s James Fowler arranged the loan for Westwood Center LLC.
Western
PORTLAND, ORE. — A partnership between Wood Partners and Hoyt Street Properties will buid a new $80 million, high-rise residential tower in downtown Portland's Pearl District. The 250-unit, 21-story tower is tentatively scheduled to begin construction in fall 2013. Boora Architects is designing the tower, which will be built by a third-party general contractor.
DENVER — The 420-unit Advenir@Stapleton has sold to Advenir for $49.1 million. The community, formerly called Aero Flats at Stapleton, is located in the Denver submarket of Stapleton. Doug Andrews and Jeff Hawks of ARA represented the seller, Carmel Partners, while Advenir was represented in-house in the transaction.
CYPRESS, CALIF. — A 285,000-square-foot office/R&D building in Cypress has received $27 million in permanent financing. The non-recourse debt features an interest rate in the low 4 percent range and a 20-year term. The borrower, a privately held entity, used the funds to refinance the existing principal balance, as well as generate capital for its commercial real estate portfolio. Kevin Burkhalter of Johnson Capital's Los Angeles office arranged the loan.
ONTARIO, CALIF. — The Colony, a 160-unit apartment complex in Ontario, has sold to JH Real Estate Partners for $22.1 million. The Class A community is located within downtown Ontario's revitalization district. Joe Leon, Javier Rivera, Darcy Miramontes and Zach Rivas of Jones Lang LaSalle's capital markets team executed the sale. “[We were able to] locate a buyer who understood that this was an opportunity to acquire a Class A, newly constructed property at the beginning of the real estate cycle,” Leon says.
LOS ANGELES — Westwood Center, a 34,136-square-foot shopping center in Los Angeles, has received $5.5 million in financing. The center is located at 2180 Westwood Blvd. It is fully occupied by tenants such as Subway, Fast Frame, Beauty Supplies and MB Nails. The seven-year loan, which was used to refinance existing debt, carries a 5 percent fixed interest rate. HFF’s James Fowler arranged the loan for Westwood Center LLC.
OAKLAND, CALIF. – The 264-unit Domain Apartments in Oakland has received a $55-million recapitalization. The bridge loan was arranged for Berkshire Property Advisors by Centerline Capital Group. The loan was completed with Centerline’s origination partner, C-III Commercial Mortgage LLC.
SAN DIEGO – A 359,218-square-foot, 24-story office building in Downtown San Diego has sold to a joint venture between Lincoln Property Companyand Angelo, Gordon & Companyfor $49 million. The high rise is located at 600 B Street. It is 85 percent occupied. Notable tenants include the City of San Diego and Bridgepoint Education, as well as several law firms. This is Lincoln’s first acquisition in the area since it opening a San Diego office this past May.
REDONDO BEACH, CALIF. — Gourmet Trading has signed a 10-year lease for a 54,212-square-foot industrial facility in Redondo Beach. The lease is valued at $5 million. The space is located at 2580 Santa Fe Ave. The company plans to relocate to the new facility in early 2013. Gourmet Trading was represented by Luke Staubitz and Harvey Beesen of Klabin/CORFAC’s Los Angeles office. The landlord, CRC Investments, was represented by Jim Sullivan and Brad Vickrey of DAUM Commercial Real Estate Services.
OAKLAND, CALIF. – The 264-unit Domain Apartments in Oakland has received a $55-million recapitalization. The bridge loan was arranged for Berkshire Property Advisors by Centerline Capital Group. The loan was completed with Centerline’s origination partner, C-III Commercial Mortgage LLC.