BOZEMAN, MONT. — Berkadia Commercial Mortgage has originated a $9.25 million fixed-rate loan for the refinance of the 134-unit Trout Meadows Apartment Homes, a newly completed Class A garden-style multifamily community in Bozeman. Representing a 75 percent loan-to-value ratio, the financing has a 10-year term and 30-year amortization. Berkadia’s Louis Weisman originated the loan through Fannie Mae for the borrower, Crestview Lake LLC, a repeat client.
Western
ONTARIO, CALIF. — A 100,680-square-foot Kmart, a single-tenant, net-leased property located at 1670 E. 4th Street in Ontario, has traded hands for $7.25 million. Marcus & Millichap’s Irwin Woldman represented the buyer in the transaction, and the brokerage firm’s Alan Krueger represented the seller; both parties were private investors.
ESCONDIDO, CALIF. — Grubb & Ellis has negotiated the sale of the 49,324-square-foot State Place Business Park, located at 300 – 398 State Place in Escondido. Terms of the deal regarding the four Class A, multi-use buildings were not disclosed. Grubb & Ellis’ Alan Deszcz and Dave Stassel teamed with Michael Lawrence of Marcus & Millichap in representing the seller, MDC State Place LLC, in the transaction; Deszcz and Stassel also represented the buyer, State Place Partners LLC.
GLENDALE, CALIF. — Marcus & Millichap has brokered the more than $2 million purchase of a 16-unit apartment property, located at 804-810 E. Chevy Chase Drive in Glendale. The one-bedroom/one-bathroom apartments are arranged around a lushly landscaped courtyard in the east San Fernando Valley community. Marcus & Millichap’s Neema Ahadian represented the private-investor buyer in the transaction.
RIVERSIDE, CALIF. — Holliday Fenoglio Fowler LP has arranged nearly $33 million in financing for Sterling University Palms Student Housing, located adjacent to the University of California – Riverside campus at 1400 University Ave. The 96 percent-leased property consists of five buildings totaling 152 units and 528 bedrooms. HFF’S Tim Wright, Rob Hinckley and Zack Holderman represented Pierce Education Properties in securing the 10-year, 5.38 percent fixed-rate loan through Freddie Mac.
LAS VEGAS — The Siegel Group Nevada has acquired a 2-story, 36,000-square-foot office building, located at 3790 Paradise Road in Las Vegas, for its new corporate headquarters. Terms of the deal were not disclosed. The Siegel Group intends to occupy 40 percent of the property’s space; the building was approximately 80 percent vacant at time of sale.
MISSION VIEJO, CALIF. — Faris Lee Investments has negotiated the $7.2 million sale of a 24,240-square-foot Henry’s Marketplace, located at 27765 Santa Margarita Parkway in Mission Viejo. The single-tenant property is the anchor tenant at Trabuco Hills Shopping Center. Faris Lee’s Dennis Vaccaro and Richard Walter’s represented the Orange County, Calif.-based seller, Trabuco Hills O5 LLC, in the transaction, and Vaccaro and the brokerage firm’s Chris Tramontano represented the buyer, Burbank, Calif.-based DAP LLC.
PORTLAND, ORE. — Grubb & Ellis has represented Subaru of America in its 10-year lease of 413,700 square feet at a build-to-suit distribution center located within Multi-Employer Property Trust and Trammell Crow Co.’s 114-acre Rivergate Corporate Center III at 14510 N. Lombard St. in Portland. MEPT will enter into a ground lease with the Port of Portland to develop Subaru’s auto-parts distribution facility on 19.3 acres, and TCC will design and build it. Grubb & Ellis’ Brad Fletcher represented Subaru in the transaction, and Capacity Commercial Group’s Dave Ellis and John Fettig represented MEPT Rivergate IV LLC. The lease for the build-to-suit distribution center, which includes training and office space, is expected to commence in October 2011.
LOVELAND, COLO. — Sponsored by Griffin Capital Corp., the GC Net Lease REIT has purchased the 169,816-square-foot Quad/Graphics printing facility, located approximately 45 miles north of Denver on 15 acres of land in Loveland, for $11.85 million. Under a long-term, triple-net arrangement, the property is 100 percent leased to and occupied by World Color (USA) LLC, the subsidiary of the world’s second-largest printing company, Quad/Graphics.
DENVER — DePaul Real Estate Investment Group has arranged $19.15 million for the refinance of University Park Shopping Center, a Class A, transit-oriented, urban retail property located at the northwest corner of Colorado Boulevard and Evans Avenue in Denver. Approximately 96 percent occupied at the time of closing, the shopping center is anchored by Office Depot, Ultimate Electronics and Vitamin Cottage Natural Grocers. DePaul’s Paul DeCrescentis and Jarod Pate arranged the approximately 70 percent loan-to-value financing with a 30-year amortization and a 10-year term fixed rate of 5.83 percent.