SEATTLE — Resmark Apartment Living and Intracorp have formed a joint venture to develop two urban apartment communities in Seattle’s northeast region. This will include a 161-unit community in the University District at 4545 8thAve. and a 112-unit community at 1020 Northeast 63rdStreet. Construction is expected to begin on both apartments in the first quarter of 2013.
Western
LOS ANGELES, SAN DIEGO – A non-performing loan that is secured by eight office properties and 16 buildings throughout Los Angeles and San Diego has sold. The unpaid principal balance on the loan is $148 million. The 16 buildings total 900,000 square feet and boast an overall occupancy rate just above 60 percent. The sale was executed by HFF’s Ryan Gallagher, Mark Fallon, Richard Plummer, Nick Psyllos, Andrew Harper and CJ Osbrink on behalf of a special servicer.
NEWARK, CALIF. — American Realty Advisors (ARA) and McShane Development Company have formed a joint venture to redevelop the 29-acre Cherry Logistics Center into a 575,000-square-foot distribution facility. The property is located at 38811 Cherry Street in Newark, a submarket of San Francisco’s East Bay. The eco-friendly facility will be built by McShane Construction Company in conjunction with HPA. It is scheduled to open in the fourth quarter of 2013.
SEATTLE — Resmark Apartment Living and Intracorp have formed a joint venture to develop two urban apartment communities in Seattle’s northeast region. This will include a 161-unit community in the University District at 4545 8th Ave. and a 112-unit community at 1020 Northeast 63rd Street. Construction is expected to begin on both apartments in the first quarter of 2013.
NEWARK, CALIF. — American Realty Advisors (ARA) and McShane Development Company have formed a joint venture to redevelop the 29-acre Cherry Logistics Center into a 575,000-square-foot distribution facility. The property is located at 38811 Cherry Street in Newark, a submarket of San Francisco’s East Bay. The eco-friendly facility will be built by McShane Construction Company in conjunction with HPA. It is scheduled to open in the fourth quarter of 2013.
THOUSAND OAKS, CALIF. — Conejo Valley Plaza II, a 90,855-square-foot retail center in Thousand Oaks, has received $14.75 million in first-mortgage refinancing. Notable tenants at the center include Ralphs, Jo-Ann Fabric and Bank of America. Financing was based on a 20-year term and a 20-year amortization schedule. The loan was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office through the firm’s relationship with a life insurance company lender.
SEATTLE — Resmark Apartment Living and Intracorp have formed a joint venture to develop two urban apartment communities in Seattle’s northeast region. This will include a 161-unit community in the University District at 4545 8thAve. and a 112-unit community at 1020 Northeast 63rdStreet. Construction is expected to begin on both apartments in the first quarter of 2013.
NEWARK, CALIF. — American Realty Advisors (ARA) and McShane Development Company have formed a joint venture to redevelop the 29-acre Cherry Logistics Center into a 575,000-square-foot distribution facility. The property is located at 38811 Cherry Street in Newark, a submarket of San Francisco’s East Bay. The eco-friendly facility will be built by McShane Construction Company in conjunction with HPA. It is scheduled to open in the fourth quarter of 2013.
THOUSAND OAKS, CALIF. — Conejo Valley Plaza II, a 90,855-square-foot retail center in Thousand Oaks, has received $14.75 million in first-mortgage refinancing. Notable tenants at the center include Ralphs, Jo-Ann Fabric and Bank of America. Financing was based on a 20-year term and a 20-year amortization schedule. The loan was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office through the firm’s relationship with a life insurance company lender.
SEATTLE — Resmark Apartment Living and Intracorp have formed a joint venture to develop two urban apartment communities in Seattle’s northeast region. This will include a 161-unit community in the University District at 4545 8th Ave. and a 112-unit community at 1020 Northeast 63rd Street. Construction is expected to begin on both apartments in the first quarter of 2013.