BEAVERTON, ORE. – The 288-unit Wyndham Park Apartments in Beaverton has received $20 million in acquisition financing. The 10-year loan carries two years of interest-only followed by a 30-year amortization schedule. Financing was arranged for Kl-Wyndham Park, LLC by Luke Donahue and John Kinser of NorthMarq’s Phoenix regional office through the firm’s seller-servicer relationship with Freddie Mac.
Western
TIGARD, ORE. — The 192-unit Avalon Park Apartments in Tigard has sold to Tandem Development Corporation for $19.6 million. The value-add asset is located in a Westside suburban submarket of Portland. The seller, Hamilton Zanze and Company, was represented by HFO Investment Real Estate.
TRACY, CALIF. – Amazon has announced it will open a 1-million-square-foot fulfillment center in Tracy. This will be the online retailer’s third fulfillment center in California. The first one opened in San Bernardino this past October. Another is set to open this summer in Patterson. The new Tracy facility will be built by Prologis.
SAN DIEGO — Bridgeworks Retail, an 18,569-square-foot retail condominium located in San Diego’s Gaslamp Quarter, has sold to Paragon Real Estate Fund for an undisclosed sum. The property is located at 224-238 5thAve. It is fully leased to tenants like Lou & Mickey’s restaurant, MAC, Toscana Caf
CHANDLER, ARIZ. – An eight-property industrial portfolio in Arizona has sold to CJV, LLC for $4.7 million. It includes three freestanding buildings at Westech 10 Corporate Center in Chandler and five industrial condominiums located at 1920 E. University Drive in Tempe. CJV was represented by Chuck Noble of Lee & Associates. The sellers, CC Prop, LLC and University & Perry, LLC, were represented by Jerry Marrell and Nate Bubeck of Lee & Associates Arizona.
TRACY, CALIF. – Amazon has announced it will open a 1-million-square-foot fulfillment center in Tracy. This will be the online retailer’s third fulfillment center in California. The first one opened in San Bernardino this past October. Another is set to open this summer in Patterson. The new Tracy facility will be built by Prologis.
SAN DIEGO — Bridgeworks Retail, an 18,569-square-foot retail condominium located in San Diego’s Gaslamp Quarter, has sold to Paragon Real Estate Fund for an undisclosed sum. The property is located at 224-238 5th Ave. It is fully leased to tenants like Lou & Mickey’s restaurant, MAC, Toscana Café and Chuck Jones Gallery. Paragon Real Estate Fund is managed by Roberto Jinich, Ricardo Jinich and Dan Berkus. The seller, an affiliate of S.D. Malkin Properties, was represented by HFF’s Ryan Gallagher, CJ Osbrink, Tim Wright and Zack Holderman.
CHANDLER, ARIZ. – An eight-property industrial portfolio in Arizona has sold to CJV, LLC for $4.7 million. It includes three freestanding buildings at Westech 10 Corporate Center in Chandler and five industrial condominiums located at 1920 E. University Drive in Tempe. CJV was represented by Chuck Noble of Lee & Associates. The sellers, CC Prop, LLC and University & Perry, LLC, were represented by Jerry Marrell and Nate Bubeck of Lee & Associates Arizona.
LOS ANGELES — The Plaza at Sherman Oaks, a 392-unit luxury apartment community located in the Los Angeles submarket of Sherman Oaks, has sold to Raintree Partners for $77 million. The community is located at 4500 Woodlman Ave. Raintree plans to renovate the units. Marc Renard of Cushman & Wakefield represented both the buyer and the seller. Acquisition financing was secured by CBRE’s Troy Tegeler and provided by Freddie Mac.
PHOENIX — Berkadia Commercial Mortgage LLC has acquired Hendricks & Partners. Hendricks & Partners has 37 offices with more than 180 multifamily professionals across the U.S. The Phoenix-based firm will now operate under the name Hendricks-Berkadia. The firm’s current CEO, Don Hendricks, will join Berkadia's executive committee as CEO of Hendricks-Berkadia and as executive vice president of Berkadia. Hendricks-Berkadia will retain its Phoenix headquarters.