PHOENIX – The 548-unit La Palma apartments in Phoenix has sold to Weidner Investment Services for $30.1 million. The community is located on West Bell Road. It is 90 percent occupied. The seller, LAP LLC, was represented by John Cunningham and Charles Steele of Jones Lang LaSalle’sCapital Markets. They were assisted by Darcy Miramontes, Diane Miramontes and Kip Malo of the firm’s San Diego office.
Western
CORTE MADERA, CALIF. – The Preserve at Marinin Corte Madera has begun a $32.6-million renovation. The renovation will add 126 luxury apartment homes to the project, and will upgrade its seven buildings. The project is set to be completed in the third quarter of 2014. The Preserve at Marin, formerly known as Madera Vista, was recently purchased byApartment Investment and Management Company (Aimco).
LOS ANGELES – A 38,667-square-foot office building that is fully occupied by Aptium Oncology, a subsidiary of AstraZeneca, has sold to Beverly Quest LLC for $14.3 million. The trophy-class building is located at 8201 Beverly Blvd. in Los Angeles. Beverly Quest was represented by Steven Rayan of South Park Group. The seller, Aptium Oncology, was represented by Martin McDermott of Avison Young’s West Los Angeles office.
PHOENIX – Whispering Wind Corporate Center, a two-building, 75,050-square-foot office complex in Phoenix, has sold to New World Real Estate Investments I, LLC for $12.2 million. It is located at 2205 and 2225 W. Whispering Wind Drive. The complex is now fully occupied. New World was represented by Denver-based brokers, while the seller, affiliates of the Mack Company, was represented by Barry Gabel and Mindy Korth of CBRE’s Phoenix office.
PHOENIX – The 548-unit La Palma apartments in Phoenix has sold to Weidner Investment Services for $30.1 million. The community is located on West Bell Road. It is 90 percent occupied. The seller, LAP LLC, was represented by John Cunningham and Charles Steele of Jones Lang LaSalle’s Capital Markets. They were assisted by Darcy Miramontes, Diane Miramontes and Kip Malo of the firm’s San Diego office.
CORTE MADERA, CALIF. – The Preserve at Marinin Corte Madera has begun a $32.6-million renovation. The renovation will add 126 luxury apartment homes to the project, and will upgrade its seven buildings. The project is set to be completed in the third quarter of 2014. The Preserve at Marin, formerly known as Madera Vista, was recently purchased byApartment Investment and Management Company (Aimco).
LOS ANGELES – A 38,667-square-foot office building that is fully occupied by Aptium Oncology, a subsidiary of AstraZeneca, has sold to Beverly Quest LLC for $14.3 million. The trophy-class building is located at 8201 Beverly Blvd. in Los Angeles. Beverly Quest was represented by Steven Rayan of South Park Group. The seller, Aptium Oncology, was represented by Martin McDermott of Avison Young’s West Los Angeles office.
PHOENIX – Whispering Wind Corporate Center, a two-building, 75,050-square-foot office complex in Phoenix, has sold to New World Real Estate Investments I, LLC for $12.2 million. It is located at 2205 and 2225 W. Whispering Wind Drive. The complex is now fully occupied. New World was represented by Denver-based brokers, while the seller, affiliates of the Mack Company, was represented by Barry Gabel and Mindy Korth of CBRE’s Phoenix office.
HUNTINGTON BEACH, CALIF. – An auto dealership in Huntington Beach has sold to Huntington Beach Ford for $16.2 million. The dealership is located on a 6.3-acre lot at 18255 Beach Blvd. Huntington Beach Ford is the property’s current occupant. The dealership was represented by Todd LaPlante of Five Points Commercial Real Estate. The seller, the Howard L Abel Family Trust, was represented by Michael Abel of Lee & Associates.
SEATTLE – The 85-unit Soundview Apartments in West Seattle has received $7.5 million in financing. The community is located on California Avenue SW near the West Seattle Junction. It is fully leased. The seven-year loan boasts a 30-year amortization period. It was arranged by Mike Wood and Andrew Patterson of NBS Financial Services.