SEATTLE — Holliday Fenoglio Fowler LP has secured $10.25 million in refinancing for Eastlake Center I and II, a two-building office complex located at 2815-2825 Eastlake Avenue E in Seattle. Fronting Lake Union, the development totals more than 84,000 square feet and includes the University of Washington and the Washington Research Foundation as tenants. On behalf of The Blume Co., HFF, led by Casey Davidson and Tom Wilson, placed the 10-year, fixed-rate loan with Goldman Sachs Commercial Mortgage Capital LP. Loan proceeds are refinancing a maturing CMBS loan.
Western
RANCHO DOMINGUEZ, CALIF. — The Klabin Company/CORFAC International has brokered the $5.28 million sale of a 71,360-square-foot industrial building located at 18747 Laurel Park Road in Rancho Dominguez. The concrete tilt-up structure features dock-high and ground-level loading, 3,956 square feet of office space, a 22-foot clear height and on-site parking for 72 cars. C&W Investment Group LLC acquired the property from T. A. Associates, which was represented by The Klabin Company/CORFAC’s Todd Taugner, David Prior and Frank Schulz.
LA HABRA, CALIF. — Marcus & Millichap has presided over the $3.19 million sale of the 24-unit Valencia Park Apartments, located at 161-230 South Valencia Street in La Habra. Marcus & Millichap’s Jim Kordell represented the private-investor buyer in the transaction, and the brokerage firm’s Greg Bassirpou represented the seller, a limited-liability company.
SALT LAKE CITY — Red Mortgage Capital LLC has provided $9.79 million in FHA 221(d)(4) new construction financing for the 125-unit Providence Place Apartments, an affordable rental project in Salt Lake City. The loan has a 40-year amortization and is backed by GNMA mortgage-backed securities. Red Capital Markets LLC, RED’s investment banking arm, advised Wasatch Advantage Group LLC in the transaction. Wasatch’s multifamily development will be restricted to residents earning no more than 60 percent of area median income and will be managed by its affiliate, Wasatch Property Management.
LOS ANGELES — Charles Dunn Co. has closed the more than $2.33 million sale of a 16-unit apartment complex located at 2352 Glendale Blvd. located in the trendy Silver Lake area of Los Angeles. Built in 1958 and 100 percent leased at time of sale, the 11,590-square-foot multifamily property was sold by Hector Garza to Thorofare Capital. Charles Dunn’s Mark Ventre and David Eitches represented the seller in the transaction.
LAS VEGAS — Danoski Clutts Building Group (DCBG) has completed tenant improvements at Marshall Rousso within McCarran International Airport in Las Vegas. Though finished in only eight weeks, the project involved demolition of the existing space, and then improvements such as high-end wall, ceiling and floor finishes. The retailer’s ceiling is now multi-elevation.
DENVER — Interstate Hotels & Resorts has formed a joint venture with Waramaug Hospitality LLC and an investment management company to acquire the 262-room Sheraton Denver Tech Center Hotel for an undisclosed amount. HREC Investment Advisors’ Mike Cahill arranged the sale. The only Sheraton-branded hotel in the high-density Tech Center area, the full-service property will immediately undergo a $5.75 million renovation, including a complete makeover of the guest rooms, public and meeting space, food and beverage areas, and recreational offerings. Located at 7007 South Clinton Street, the Sheraton Denver Tech Center Hotel offers 10,500 square feet of meeting space, a business center, an exercise room, an outdoor swimming pool, a gift shop and the full-service Redfire Restaurant & Lounge. Interstate assumed management of the hotel upon completion of the acquisition.
VENTURA, CALIF. — Solarsilicon Recycling Services LLC has acquired a 90,000-square-foot industrial building, located at 2433 Eastman Ave. in Ventura, from Art Dreams for $6.3 million. A company that recycles unusable and off-spec silicon and processes it into usable feedstock for the solar industry, SRS was represented by Mike Tingus of Lee & Associates-LA North/Ventura. Represented by DAUM Commercial Real Estate Services’ Michael Walsh and Melinda Walsh, the seller will lease back a portion of the building. The freestanding building includes more than 13,000 square feet of office space on two stories and features 24’ clear height, three dock-high and two ground-level doors.
BOZEMAN, MONT. — Grubb & Ellis has negotiated the sale of approximately 4.2 acres of land to Kohl’s Illinois Inc. in Bozeman. The sale price was not disclosed. The discount retailer plans to construct a 56,000-square-foot building within the Bozeman Gateway project, a 50-acre mixed-use development featuring retail, office, entertainment and hotel space. Grubb & Ellis’ Mark Baziak and Michael Elliott represented Mitchell Development Group LLC in the sale.
ENGLEWOOD, COLO. — Charles Dunn Co. has negotiated the nearly $9.73 million acquisition of a 14,820-squarefoot Walgreens, located at 123 E. Belleview Ave. in Englewood. The brokerage firm’s Michel Hibbert represented the buyer, Berg & Boyer Family Trust, in the transaction, and Deerfield Partners represented the seller, Net Leased Development LLC. The retail asset was built in 2009.