REBusinessOnline

IPA Negotiates $88M Sale of District at Grand Terrace Apartments in Colton, California

COLTON, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $88 million sale of District at Grand Terrace, a 352-unit apartment community located in the Inland Empire city of Colton. The sales price equates to $250,000 per unit.Built in phases between 1980 and 1986, District at Grand Terrace is located near the San Bernardino Freeway, just off Interstate 215 and about seven miles from downtown San Bernardino.The property features …

Acquisitions, California, Multifamily, Top Stories, Western

NorthMarq Arranges $166M in Capital for The Launch Apartment Development in Alameda, California

ALAMEDA, CALIF. — NorthMarq has arranged $166 million in joint venture equity and construction financing for The Launch, a 368-unit waterfront apartment community in Alameda.The Launch will be located at 1777 Clement Ave. at the northern edge of Alameda Island along the Oakland Estuary. The property is located 16 miles from San Francisco and 39 miles from San Jose. The project will feature a mix of market-rate, below-market-rate and work-live units along with an onsite leasing office. …

California, Development, Multifamily, Top Stories

Webinar: Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market

On Apr. 7, France Media hosted the "Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market" webinar, sponsored by Walker & Dunlop. The single-family rental (SFR) and build-for-rent (BFR) space has generated excitement throughout the commercial real estate world.This webinar brings together five expert panelists to answer the most pressing questions for this asset class: what to know about SFR and BFR verticals, issues and trends within the space, …

Midwest, Multifamily, Northeast, Southeast, Texas, Video, Walker & Dunlop, Webinar, Western

CBRE Arranges $39.5M Sale of The Mesa Tower in Arizona to CAMCO Investment Group

MESA, ARIZ. — CBRE has arranged the sale of The Mesa Tower, a 16-story office building located at 1201 S. Alma School Road in Mesa. Dallas-based CAMCO Investment Group acquired the asset from Barker Pacific Group and Iron Point Partners for $39.5 million.Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller in the deal.Totaling 311,949 square feet, The Mesa Tower comprises the high-rise, Class A office building; an adjacent single-tenant restaurant; and a …

Acquisitions, Arizona, Office, Western

PGIM Real Estate Provides $41M Acquisition Loan for Three Industrial Buildings Near Las Vegas, Chicago

HENDERSON, NEV., AND AURORA, ILL. — PGIM Real Estate, on behalf of its U.S. core-plus debt fund, has provided a $41 million loan facility to Dalfen Industrial for the acquisition of a Class A industrial portfolio in the Las Vegas and Chicago metro areas.Totaling 438,000 square feet, the portfolio includes AirParc South and Suncrest Commerce Center in Henderson, plus Butterfield Logistics Center in Aurora. The loan features a three-year term with two one-year extension options.Trevor …

Acquisitions, Illinois, Industrial, Loans, Nevada, Western

Stan Johnson Negotiates $4.1M Sale of FedEx-Occupied Industrial Building in Helena, Montana

HELENA, MONT. — Stan Johnson Co. has arranged the sale of an industrial property located at 876 Blaine St. in Helena. A Laguna Beach, Calif.-based private investor sold the asset to a Jacksonville, Ore.-based private investor for $4.1 million.FedEx Ground occupies the 22,251-square-foot building, which was constructed as a build-to-suit for the company in 2014. Additionally, the asset is situated on 6.3 acres adjacent to the Helena Regional Airport and Interstate 15.FedEx has …

Acquisitions, Industrial, Montana, Western

Capital Rivers Commercial Brokers $3.1M Sale of Retail Property in Antioch, California

ANTIOCH, CALIF. — Capital Rivers Commercial has arranged the sale of a retail asset located at 111 E. 18th St. in Antioch. San Jose-based DLP Investments sold the property to Antioch-based Antioch Partners for $3.1 million.Situated on 2.5 acres, the asset is a 33,000-square-foot, second-generation grocery store.Capital Rivers Commercial represented the buyer and seller in the

Acquisitions, California, Retail, Western

Ready Capital Closes $20.9M in Refinancing for Office Property in San Diego’s Del Mar

SAN DIEGO — Realty Capital has closed $20.9 million in refinancing for the renovation and lease-up of 39,000-square-foot property in San Diego’s Del Mar submarket. The undisclosed borrower will use the loan to refinance an existing loan, finish outstanding capital improvement items, built-out speculative suites and lease vacant space.The non-recourse loan features interest-only payments and a floating rate, as well as a 36-month term, two extension options and flexible prepayment. The …

California, Loans, Office, Western

VanTrust Acquires 350 Acres in North Las Vegas for 4.5 MSF Industrial Development

NORTH LAS VEGAS, NEV. — VanTrust Real Estate has purchased a 350-acre land site north of the Interstate 15 and Speedway Boulevard interchange in North Las Vegas. VanTrust plans to develop 4.5 million square feet of distribution facilities on the site, which is between the new City of North Las Vegas water line and the Union Pacific Rail line.Construction of utility and roadway improvements is slated to begin in the third quarter of 2021, with building construction following shortly …

Development, Industrial, Nevada, Western

Core5 Industrial Sells 423,665 SF Harvill Business Center in Perris, California

PERRIS, CALIF. — Atlanta-based Core5 Industrial Partners has completed the sale of Harvill Business Center, a modern logistics facility in Perris. Black Creek Group bought the asset for an undisclosed price. Completed in early 2020, the 423,665-square-foot property features a Ductilcrete concrete floor slab, 36-foot clear heights, 2.5 percent skylights, LED lighting, a gated concrete truck yard, on-site truck staging and low-water landscaping.American Standard, a subsidiary of Lixil Corp. …

Acquisitions, California, Industrial, Western
Content Partners
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2021 Finance Insight Video Interviews


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