SAN FRANCISCO — The 376-unit Eucalyptus Grove apartments in Chula Vista received a $38.06-million loan. It is located at 67 East Flower Street. The seven-year, fixed-rate loan was arranged by Clay Akiwenzie of Berkadia Commercial Mortgage LLC, for Wasatch Premier Properties. The loan was arranged through Fannie Mae.
Western
SEATTLE – The 360-unit Waterford Place Apartments in the Seattle submarket of Woodinville has sold to Grosvenor Americas for an undisclosed sum. The new owners plan to renovate the property. Pete Shelton and Kim Grant of Cushman & Wakefield represented the seller in the transaction.
ENCINO, CALIF. – The 45-unit Margate Imperial Apartments in Encino has sold to a family partnership for $9.65 million. It is located at 17849 Margate Street. Michael Hanassab and Elliot Hassan of Marcus & Millichap’s Los Angeles office represented the buyer and the unnamed seller in this transaction.
SCOTTSDALE, ARIZ. – Artis, a Canadian-based REIT, has received a $43-million acquisition loan to finance the purchase of the MAX at Kierland office building in Scottsdale.The 258,312-square-foot, Class A building was constructed in 2008. It is Shell and Core LEED-certified and received a 100% Energy Star designation. Artis worked with U.S. Bank to secure the financing
DEL MAR, CALIF. – The 76-unit Chelsea apartments in Del Mar has sold to Stratford Partner, LLC for $3 million. It is located at 57 N. Alma School Road. The sellers, Jay and Marsha Scott, were represented by Robert Chester with Quantum Realty Partners, LLC.
BAKERSFIELD, PALMDALE, CALIF. – Bakersfield and Palmdale are home to two new CVS/Pharmacy stores that were recently completed by LandMark Retail Group. The Bakersfield CVS will reside within the city’s new Grand Island Village Shopping Center, a 90,000-square-foot neighborhood/specialty style shopping center. This is the fifth CVS store LandMark has developed in the city. The Palmdale locale is inside the Vallarta-anchored shopping center on the corner of 47th Street and R Street. LandMark notes that it has 12 more CVS stores scheduled to open in California this year.
THOUSAND OAKS, CALIF. – The 191-unit Archstone Thousand Oaks Crest has sold to IMT Capital, LLC for $51.37 million. The community is located at 491 W. Gainsborough Road in Thousand Oaks. Archstone contains 18 buildings that were constructed in the 1970s. Jim Fisher, Mike Smith and Craig Stevens of Lee & Associates-LA North/Ventura represented the seller, Archstone, in this transaction.
SAN JOSE, CALIF. — Almaden Financial Plaza, a 415,000-square-foot, Class A office complex in downtown San Jose, has received $46 million in refinancing. The five-year, fixed-rate loan was used to refinance a maturing securitized loan. Some of the funds will also be used for building improvements and leasing costs. The loan includes a three-year, interest-only period and a 30-year amortization schedule. It is open to pre-payment at par after 18 months. Financing was arranged for an affiliate of Embarcadero Capital Partners LLC by HFF’s Peter Smyslowski, Gerry Rohm, Kevin Redford and James Fowler through Guardian Life Insurance Company of America.
RANCHO CUCAMONGA, CALIF. – A 180,035-square-foot industrial building in Rancho Cucamonga has sold to DCT Industrial Trust for $11.04 million. The building is located at 11167-11177 White Birch Drive. It is fully occupied by Steelscape and Puratos Bakery. DCT was represented by Mark Zorn, Richard Schwartz and Brad Yates of Colliers’ Ontario office. The seller, Quagletti M J & P Trust, was represented by Mike Quagletti with Industrial Realty.
ANAHEIM, CALIF. – A single-tenant industrial building in Anaheim has received $3.5 million in permanent financing. The 32-year-old building contains 74,000 square feet. The 10-year loan with a 25-year amortization period was arranged by Carl Fuller of the Alison Company through a correspondent life insurance company.