LAS VEGAS — Birmingham, Ala.-based The Sanders Trust has acquired the 53,000-square-foot, 50-bed HealthSouth Desert Canyon Rehabilitation Hospital for $17 million. HealthSouth is a tenant pursuant to a long-term lease with The Sanders Trust and will continue to own the hospital.
KENT, WASH. — Greenville, Tenn.-based Forward Air Corp. has renewed its 47,025-square-foot lease at the Kent West Corporate Park, located at 6531 South 219th St. in Kent. The 5-year lease is valued at more than $1.2 million. Brian Bruininks of Seattle-based The Andover Company represented the landlord, Newport Beach, Calif.-based DEXUS Property Group in the transaction. Michael Bauer of the Dallas-based Fischer & Co. represented Forward Air.
ANAHEIM, CALIF. — The 286-unit Mariposa Apartments, located in Anaheim, has sold for $43 million to an Orange County, Calif.-based private property owner and investor.The 11.5-acre property contains amenities such as swimming pools, fitness centers and recreation areas. Deutsche Bank provided 10-year, fixed-rate financing for the acquisition. Tustin, Calif.-based Greenwood & McKenzie represented the buyer in the transaction. Robin Ossenbeck and Shane Scafer of Phoenix-based Hendricks & Partners represented the seller, Beverly Hills, Calif.-based Kennedy Wilson.
RIVERSIDE, CALIF. — Gardena, Calif.-based Overton Moore Properties has acquired the 192,434-square-foot, two-building Class A industrial project Citrus Business Park, located in Riverside. The property is 50 percent occupied. The seller, Lincoln National life Insurance Co., was represented by Ed Indvik of Lee & Associate's Los Angeles office and Bill Heim and Eloy Cova of the Ontario, Canada, office. Heim and Cova will market the project on behalf of Overton Moore Properties.
PRESCOTT, ARIZ. — The 116-unit Granite Gate, located in Prescott, has sold for $25.6 million. The property offers independent, assisted and memory care units. The seller, Granite Gate Retirement Community, was represented by Ryan Maconachy and Chad Lavender of Atlanta-based ARA. The buyer, Five Star Quality Care, did not use representation.
DENVER — The 259,118-square-foot, Class A office campus Tuscany Plaza, located at 6312 Fiddlers Green Cir. in Denver, has been sold to Cornerstone Real Estate Advisers for an undisclosed price. The six-story building is more than 95 percent leased. The seller, Los Angeles-based Lowe Enterprises, was represented by Tim Richey and Michael Winn of Cushman & Wakefield's Denver office.
VACAVILLE, CALIF. — Walker & Dunlop has closed a $6.4 million refinance loan for the 117-unit Walnut Grove Senior Apartments located in Vacaville. Amenities include a pool, spa, common laundry room, gated entrance and covered parking. The property is 100 percent leased. The borrower, Vandelay Development, owns and manages the property. Kenneth Fox of Cohen Financial's San Francisco office originated the loan. Will Baker led the Walker & Dunlop team.
SAN FRANCISCO — Two residential sites in San Francisco called Block 5 and Block 11, located on 3.84 acres in the Mission Bay neighborhood, have sold for $41.4 million. Block 5 and Block 11 represented the last two market-rate residential development sites available in Mission Bay. The buyer was San Francisco-based BRE Properties. Stan Jones, Phil Saglimbeni and Sal Saglimbeni of Institutional Property Advisors' Palo Alto, Calif., office represented the seller, San Francisco-based FOCIL-MB, in the transaction.
RENO, NEV. — Bethesda, Md.-based Walker & Dunlop has arranged an $8.53 million refinance loan through Fannie Mae on behalf of ERG Properties for the 232-unit Sierra Sage, a garden style apartment community in Reno. The 10-year loan has a 30-year amortization schedule and was underwritten with a 1.25x debt-service coverage ratio. The property was 98 percent leased at closing.
PHOENIX — The 213-unit Terrace Park, located at 8130 West Indian School Rd. in Phoenix, has sold for $5.77 million. The seller, West Palm Beach, Fla.-based Blue Valley Apartments, a special servicer, was represented by Mark Forrester, Ric Holway and Chuck LaBenz of Hendricks & Partners Phoenix office. The buyer was Minnesota-based Phoenix Leased Housing Associates I, LP.