SCOTTSDALE, ARIZ. — Plaza Companies and Vi Living have completed the development of Vi at Silverstone — A Vi Living and Plaza Companies Community, which is located at 23005 N. 74th St. in Scottsdale. The $270 million, 735,650-square-foot four-story development includes 203 independent-living units, 67 single-family villas and 60 units licensed as assisted-living, memory-support and skilled-nursing beds. Additionally, the community features an 18-hole championship golf course.
IRVINE, CALIF. — MAM-Von Karman LLC has completed the disposition of 17352 Von Karman Avenue in Irvine. The 95,005-square-foot industrial property sold for an undisclosed price. The buyer, ICC-CHT LLC, plans to use the facility as the company's new headquarters. Cameron Driscoll, Luke McDaniel, Mike Hartel and Travis Haining of Voit Real Estate Services represented the seller. DAUM Commercial represented the buyer in the transaction.
CARSON, CALIF. — Scott Hook of Marcus & Millichap has completed the sale of Avalon Plaza in Carson. The 15,577-square-foot retail center, which is located at 20761 Avalon Blvd., sold for $4.3 million. Hook represented the undisclosed seller in the transaction. The buyer was not disclosed.
SAN LEANDRO, CALIF. — Locally based Sirio North America has acquired an approximately 10,000-square-foot warehouse facility in San Leandro. Located at 1975 W. Ave 140th, the concrete tilt-up building features dock-high loading, 16- to 18-foot clear heights and off-street parking. Craig Hagglund and Doug Pearson of Lee & Associates Oakland, Calif., office represented both the buyer and the undisclosed seller in the transaction.
TEMECULA, CALIF. — CB Richard Ellis (CBRE) has brokered the sale of a Temecula senior housing community for $27.15 million. The Sterling at Vintage Hills contains 152 units and was 95 percent occupied at the time of closing. It is located on 10 acres at 41780 Butterfield Stage Road and includes a 9-acre parcel for future expansion. David Rothschild, Matthew Whitlock and Mary Christian of CBRE”s National Senior Housing Group represented the seller, an affiliate of Irvine, Calif.-based MBK Senior Living. The team also procured the buyer, Washington, D.C.-based CSH.
BUENA PARK, CALIF. — Marcus & Millichap has arranged the sale of Palm Court Apartments, a 24-unit multifamily property located at 5699 Fullerton Ave. in Buena Park, for $2.97 million. Jonathan Mitchell and David Yeh of Marcus & Millichap's Newport Beach, Calif., office represented the seller, a limited liabillity company. Mitchell and Yeh partnered with Christopher Stensby, also of the firm's Newport Beach office, to represented the buyer, a private investor.
SANTA ROSA, CALIF. — Walker & Dunlop has secured a $9.58 million loan for the refinancing of Spring Lake Apartments, a 104-unit, garden-style community located in Santa Rosa. Property amenities include a swimming pool, a fitness center, laundry rooms and covered parking. Occupancy was 96 percent at the time of closing. The loan carries a 10-year term with 5 years of interest-only payments and a 30-year amortization schedule. It was underwritten at a 60 percent loan-to-value ratio and a 1.43x debt-service coverage ratio. Walker & Dunlop's Verne Murray and Jeffrey Burns led the team that arranged the loan.
LOS ANGELES AND SAN FRANCISCO — LandMark Retail Group has completed three more CVS/pharmacy stores, two in Los Angeles and one in San Francisco. Located in downtown Los Angeles at the corner of Figueroa Street and 32nd Street and across the street from the Galen Center, the location within the newly constructed University Gateway mixed-use project will serve the daily needs of students, faculty and staff of the University of Southern California. The newly opened store at the corner of Roscoe Blvd. and DeSoto Avenue in Los Angeles will fill a void in the San Fernando Valley by serving customers in the family-oriented communities of Winnetka, Canoga Park and Northridge. Finally, with its first opening in San Francisco, LRG has facilitated a key CVS/pharmacy presence one block from Union Square and across the street from the Apple flagship retail store. LRG, a subsidiary of NewMark Merrill Cos., has been the CVS preferred developer since 2005.
LOS ANGELES — Marcus & Millichap has presided over the $9.9 million sale of the 148-unit Palm Terrace Apartments, located at 3800 West 27th Street in the prestigious and historic West Adams District of Los Angeles. Constructed in 1957, the multifamily property offers easy access to downtown L.A., Beverly Hills and Century City. Marcus & Millichap’s Matthew Friedman represented both the private-investor buyer and the limited-liability company seller in the transaction; the brokerage firm’s Josh Cohen and Walter De La Torre assisted on the buying side.
NORTHGLENN, COLO. — Cushman & Wakefield of Colorado has arranged Panattoni Development’s more than $3 million sale of the 76,087-square-foot Northglenn Marketplace, located at 10602 Melody Drive in Northglenn, to Summit Development Group. Built in 1986 and 86 percent occupied at time of sale, the property is anchored by Woodley’s Fine Furniture and K&G Men’s Superstore. Cushman & Wakefield’s Gene Pride and Patrick Devereaux represented the seller in the transaction.