SAN JOSE, CALIF. — Dennis Williams of NorthMarq Capital's San Francisco regional office has arranged first mortgage financing of $32 million for the 189-unit Village of Marineo, located at 100 Palm Valley Blvd. in San Jose. Financing was based on a 6-year term with a 30-year amortization schedule for the borrower, GBR Palm Valley Podium, through NorthMarq's relationship with Guardian Life Insurance Co.
Western
CARLSBAD, CALIF. — Logan, Utah-based Wasatch Commercial Management Group has purchased the 75,165-square-foot Kelly Corporate Center IV, located at 1000 Aviara Parkway in Carlsbad, for $13.7 million from Dallas-based The Allen Group. The three-story, Class A office building will undergo a complete rebranding and name change in the coming months. Rick Reeder, Justin Halenza and Josh Bernstein of San Diego-based Cassidy Turley BRE Commercial represented both the buyer and the seller in the transaction.
NORTH HOLLYWOOD, CALIF. — The 3-building, 100-unit Morrison Apartments in North Hollywood has sold for $13.3 million. The three properties include a 44-unit building, a 20-unit building on Morrison St. and a 36-unit building on Bakman Ave. Ron Harris of Marcus & Millichap's Los Angeles office represented both the buyer, Peggy Jones, a private investor, and the seller, Interstate Equities Corp.
NORTHWEST MESA, ARIZ. — R & R Riverview on Arizona has purchased two buildings totaling 162,000 square feet at Riverview Point Office Park, a multi-tenant office project located in Northwest Mesa for $9.05 million. David Carder, Barry Gabel, Mindy Korth and Luke Walker of CB Richard Ellis' Phoenix office represented the seller, Indianapolis, Ind.-based Lauth Property Group. The buyer was represented by Bryan Taute, also of CB Richard Ellis' Phoenix office.
TOLLESON, ARIZ. — Southern Calif.-based BlackRidge Real Estate Group has acquired the 5-building, 96,050-square-foot Tolleson Commerce Center, located in Tolleson, from Johnson Bank for $4.1 million. Three of the buildings are leased and the two remaining buildings, each with 14,000 square feet, are available. The seller was represented by Kent Baker of Tempe, Ariz.-based The Benjamin Group.
VAN NUYS, CALIF. — Belmont, Calif.-based Embarcadero Capital Partners has sold the two-building, 267,955-square-foot, Class A office property known as Sherman Plaza East & West for $49.5 million. The building is currently 95 percent leased. The buyer, Calabasas, Calif.-based Majestic Investments, assumed the existing $39 million loan which carries a 5.9 percent interest rate. Bob Safai of Los Angeles-based Madison Partners represented the seller.
MOORPARK, CALIF. — Ensign-Bickford Aerospace & Defense has purchased a 265-acre office/manufacturing/warehouse campus located at 14370 White Sage Rd. in Moorpark for a undisclosed price. The buildings total approximately 166,628 square feet. The buyer was represented by Bill Kiefer of NAI Capital's Ventura County office and Tim Foutz of the firm's Encino office. The seller, WP Carey & Co., was represented by Nick Gregg of CB Richard Ellis' Ventura County, Calif., office and Sterling Champ of the firm's Universal City, Calif., office.
EL SEGUNDO, CALIF. — A 157,000-square-foot, Class A office building located at 2300 E. Imperial Hwy. in El Segundo has sold of $25.3 million. The seller, an undisclosed financial services firm, was represented by Marc. D. Renard and Manfred Schaub of Cushman & Wakefield's Los Angeles office, Michael Roberts of Cushman & Wakefield's San Diego office and Chris Sinfield of Cushman & Wakefield's Los Angeles County office.The buyer was Indonesia-based V.C.I. Corporation.
LOS ANGELES — A partnership that includes Marriott International, WIlliams/Dame & Associates, American Life, Regional Center Management Los Angeles and Nomad Ventures has announced its plans to build a 377-room, two-tower high-rise, which will contain a Courtyard by Marriott and a Residence Inn by Marriott, next to L.A. Live on the northwest corner of Olympic Boulevard and Francisco Street. Equity funding will be provided through the EB-5 Investor Green Card Program.
VALENCIA, CALIF. — Madison International Realty has acquired a 50 percent equity interest in the 126,769-square-foot Bridgeport Marketplace, a mixed-use, grocery-anchored retail center in Valencia. The value of the transaction was approximately $10 million. The co-owner and broker information were undisclosed.