REBusinessOnline

Equus Sells Scottsdale Gateway I Medical Office Building in Arizona for $27M

SCOTTSDALE, ARIZ. — Equus Capital Partners has completed the disposition of Scottsdale Gateway I, a medical office building located on 8.5 acres in Scottsdale. An undisclosed buyer acquired the property for $27 million.Built in 1998, the 107,049-square-foot building features a two-story atrium lobby, 58,000-square-foot floor plates and a parking ratio of 5.8 cars per 1,000 square feet, as well as additional development potential. At the time of sale, the building was 96 percent occupied. …

Acquisitions, Arizona, Healthcare, Office, Western

Rise Properties Acquires Westwynd Apartments in Vancouver, Washington for $18.3M

VANCOUVER, WASH. — Rise Properties (Westwynd) LP, a Seattle-based REIT, has purchased Westwynd Apartment Homes, a multifamily property located in Vancouver. Christensen Properties I, based in Vancouver, sold the asset for $18.3 million.Located at 10117 NE Ninth Ave., Westwynd Apartments features 120 units spread across seven residential buildings, a clubhouse, pool and office, as well as a 20-car garage building. At the time of sale, the property was 98.6 percent occupied.David …

Acquisitions, Multifamily, Washington, Western

BLT Enterprises Buys 200,000 SF Television Center Office Campus in Hollywood

LOS ANGELES — Santa Monica, Calif.-based BLT Enterprises has acquired Television Center, a creative office and production campus located on 6.4 acres in the Hollywood submarket of Los Angeles. Terms of the transaction, including seller and acquisition price, were not released.The 200,000-square-foot property was the original headquarters of Technicolor and the studio lot for Metro Pictures, a silent filmmaker and forerunner of Metro-Goldwyn-Mayer. The previous owner updated the property …

Acquisitions, California, Office, Western

ACI Apartments Brokers $9.6M Acquisition of Villas Bonita Multifamily Property in El Centro, California

EL CENTRO, CALIF. — ACI Apartments has arranged the purchase of Villas Bonita, a multifamily complex located at 699 Wake Ave. in El Centro. Imperial Properties acquired the asset from Villas Bonita LCC for $9.6 million.Built in 2005, the 71,250-square-foot community features 75 apartments spread across seven two-story buildings. The property offers one-, two- and three-bedroom apartment layouts ranging from 730 square feet to 1,130 square feet, each with an in-unit washer/dryer and …

Acquisitions, California, Multifamily, Western

Benson DBS Purchases Two Dollar General-Occupied Properties in Arizona, New Mexico for $3.3M

KINGMAN, ARIZ., AND SILVER CITY, N.M. — Benson DBS has acquired two retail properties for a total of $3.3 million. Dave Hammack of Cushman & Wakefield | PICOR represented the buyer in both transactions.Benson DBS company acquired a new Dollar General-occupied building located at 7265 E. Concho Drive in Kingman. SimonCRE Saltair II sold the asset for $1.7 million. Additionally, the company purchased a new Dollar General-occupied property at 1330 E. 32nd St. in Silver City from Silver …

Acquisitions, Arizona, Net Lease, New Mexico, Retail, Western

Western Wealth Capital Sells Signature Place Apartments in Tempe for $62.5M

TEMPE, ARIZ. — Western Wealth Capital has completed the sale of Signature Place, a multifamily asset located at 600 W. Grove Parkway in south Tempe. Knightvest Capital acquired the property for $62.5 million.Signature Place features 300 apartments with nine-foot ceilings, fully equipped kitchens, full-size washers/dryers and private patios. Select units feature walk-in closets, dual vanities and fireplaces. Community amenities include two swimming pools, a fitness center, lighted tennis …

Acquisitions, Arizona, Multifamily, Western

CBRE Reports $25M in COVID-Related Expenses, 6 Percent Revenue Decline in Second Quarter

LOS ANGELES — CBRE Group Inc. (NYSE: CBRE) released its financial results for the second quarter, ending June 30, showing a six percent decline in revenue, down to $5.4 billion from $5.7 billion in second-quarter 2019. The COVID-19 pandemic impacted second-quarter results across all major markets, including CBRE spending $25 million in COVID-related costs and a $16 million donation to a COVID relief fund.“The overall impact [of COVID-19] was cushioned by our diverse business mix, …

California, Company News, Western

Ensign Group Acquires 224-Unit Seniors Housing Campus in Tempe, Arizona

TEMPE, ARIZ. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of a post-acute care retirement campus located in Tempe.The acquisition includes Tempe Post Acute, a 62-bed skilled nursing facility, and Desert Marigold Senior Living of Tempe, a senior living center with 72 assisted living beds and 90 independent living units.These acquisitions bring Ensign’s growing portfolio to 226 healthcare operations, 24 of which also include assisted living …

Acquisitions, Arizona, Multifamily, Seniors Housing, Western

Scannell Properties Buys Development Site Near Phoenix, Plans 850,000 SF Distribution Center

BUCKEYE, ARIZ. — Scannell Properties has purchased a 70-acre development site, located near the corner of Miller and Durrango roads in Buckeye, for nearly $6.6 million.The buyer plans to develop an 850,000-square-foot, build-to-suit distribution facility at the property for specialty discount retailer Five Below. The tenant plans to initially bring approximately 150 new jobs to the area and expects to grow to nearly 300 employees over the next five years.Greg Vogel and Wes Campbell of …

Arizona, Development, Industrial, Western

Levin Johnston Arranges $34.3M Sale of Three-Property Multifamily Portfolio in Bay Area

SUNNYVALE, LOS GATOS AND SAN JOSE, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sales of three apartment properties located in the Bay Area for a total consideration of $34.2 million.Adam Levin and Robert Johnston of Levin Johnston of Marcus & Millichap represented the seller and procured the buyer for the sales. Details on the buyer and seller were not disclosed.The transactions include:The $15.3 million sale of 1234 Sunnyvale Saratoga Road in …

Acquisitions, California, Multifamily, Western
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