SANTA ANA, CALIF. – A 20,556-square-foot industrial buildingin Santa Ana has sold to Wendy Chai for $2.06 million. It is located at 1513 E. Saint Gertrude. Chai was represented by Matthew Christianson of Jones Lang LaSalle. The seller, Vincent Servin, was represented by John Collins and Kevin Thomas of Lee & Associates’ Newport Beach office.
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BEVERLY HILLS, CALIF. – A 120,000-square-foot, Class A office building that resides within the Golden Triangle of Beverly Hills has sold to Clarion Partners for $80 million. The Golden Triangle is a high-end retail, dining and hospitality district. The fully occupied building is located at 100 N. Crescent Drive.
LOS ANGELES – A 151,029-square-foot, Class A entertainment office complex known as Tribeca West has sold to Kilroy Realty Corp. for $73 million. The property is located at 12233 W. Olympic Blvd. in Los Angeles. It is 97 percent leased. Notable tenants include Disney, HBO & NBC studios. Bob Safai of Madison Partners represented both the buyer and the seller, Ocean West Capital Partners, in this transaction.
HOLLYWOOD, CALIF. – The 56-unit El Royale apartment community in Hollywood has sold for $29.5 million. The community is located at 450 North Rossmore Ave. It was originally built in 1929. The buyer’s acquisition team included Kamran Hakim, a developer and investor, and Farhad Eshaghpour, a real estate professional. The seller, a family trust that had owned El Royale for more than 50 years, was represented by Ron Harris, Stewart I. Weston and Joseph Smolen of Institutional Property Advisors.
SANTA ANA, CALIF. – A 20,556-square-foot industrial buildingin Santa Ana has sold to Wendy Chai for $2.06 million. It is located at 1513 E. Saint Gertrude. Chai was represented by Matthew Christianson of Jones Lang LaSalle. The seller, Vincent Servin, was represented by John Collins and Kevin Thomas of Lee & Associates’ Newport Beach office.
AURORA, COLO. – The 320-unit Vistas at Saddle Rock apartment community in Aurora has sold to Advenir for $45.2 million. This is the highest price per unit ever paid for a multifamily asset in Aurora, according to ARA, which represented the seller, Bascom Group, in this transaction. The community was built in 2002 and updated in 2009 and 2010. It is currently 95 percent leased. Bascom was represented by principals Terrance Hunt, Shane Ozment, Doug Andrews and Jeff Hawks.
RIVERSIDE, CALIF. – A pair of distribution buildings in Riverside have received a forward commitment of $17.7 million. The properties contain a total of 850,000 square feet spread out among four tenants. The funding was arranged by Carl Fuller of the Alison Company through a correspondent life insurance company. The seven-month forward commitment is for a 10-year loan with a 25-year amortization period.
SONORA, CALIF. – Downtown Sonora Plaza, a 40,600-square-footshoppingcenter, has sold to Dwares Group for a little more than $3 million. The center is currently 94 percent leased. Notable tenants include anchor Save Mart, along with a regional pharmacy and community bank. Dwares plans to renovate the property. The company was represented by Patrick Follett and Jon Gianulias of Core Commercial. Follett also represented the unnamed seller.
LOS ANGELES – Ultimate Off Price has signed a 10-year lease for 41,328 square feet in Downtown Los Angeles. The space is located at 1615 E. 15th Street in the city’s garment district. The lease, which will commence in January 2013, is valued at $3.56 million. Ultimate Off Price was represented by Jerry Sackler of Daum Commercial’s Downtown office. The landlord, Western States Technologies, was represented by Jeff Thompson of the same office.
AURORA, COLO. – The 320-unit Vistas at Saddle Rock apartment community in Aurora has sold to Advenir for $45.2 million. This is the highest price per unit ever paid for a multifamily asset in Aurora, according to ARA, which represented the seller, Bascom Group, in this transaction. The community was built in 2002 and updated in 2009 and 2010. It is currently 95 percent leased. Bascom was represented by principals Terrance Hunt, Shane Ozment, Doug Andrews and Jeff Hawks.