CLAREMONT AND POMONA, CALIF. — Raintree Partners has acquired a three-property multifamily portfolio, located in Claremont and Pomona, from Pacific Property Co. for $30.6 million. In Pomona, Southridge Apartments is an 80-unit, two-story, walk-up property with both one- and two-bedroom units. In Claremont, Springhill Townhomes offers 64 two-, three- and four-bedroom units. The Village at Claremont, also in Claremont, consists of 84 single- and two-story units ranging from two to three bedrooms each. Laguna Niguel, Calif.-based Raintree plans to invest in both interior and exterior upgrades at the three properties, all of which are situated within 2 miles of one another and in close proximity to Cable Airport.
Western
SAN BRUNO, CALIF. — Behringer Harvard has acquired the 163-unit Acappella Apartments located at 1001 National Ave. in San Bruno. Terms of the deal were not disclosed. Situated approximately three miles northwest of the San Francisco International Airport, 10 miles south of downtown San Francisco, less than one mile from the corporate headquarters of YouTube LLC and immediately adjacent to 1.1-million-square-foot The Shops at Tanforan, the Acappella Apartments consist of a five-story building with a below-grade parking garage and includes a state-of-the-art fitness center, a business center, a resort-style swimming pool and spa, and a landscaped courtyard with picnic/cookout area. The mid-rise multifamily property was constructed in 2009 during the third phase of development at The Crossing, a 20-acre, master-planned community.
CAMARILLO, CALIF. — Lee & Associates-LA North/Ventura has negotiated a 98,952-square-foot industrial lease in the Camarillo Commerce Center at 4030 Via Pescador for nearly $4 million. Seeking a single building in which to consolidate two Oxnard warehouses totaling 60,000 square feet, Dynacorn International leased the industrial facility for a 7-year term from Triliad Development. Lee’s Grant Harris, Robert Shafer and Grant Fulkerson represented the landlord in the transaction, and NAI Capital’s Mike Tharp and Fred Ferro represented the tenant, a distributor of parts for classic and muscle cars.
CITY OF COMMERCE, CALIF. — Binswanger/Realty Advisory Group has negotiated the nearly $4 million lease of a 139,857-square-foot industrial facility located at 5500 E. Slauson Avenue in the City of Commerce. Binswanger’s Mark Repstad and John Repstad and Victor Didia of Weiss & Company represented the tenant, New Jersey-based Carrini Inc., in the deal with landlord AMB Property Corp., which was represented by David Hess and Michael Foley of CB Richard Ellis. The high-image property includes 10,049 square feet of two-story office space.
ANAHEIM, CALIF. — Grubb & Ellis has negotiated the $25 million sale of the 153-room Courtyard by Marriott Anaheim Hotel at Disneyland. Tarsadia Hotels sold the asset to Annapolis, Md.-based Chesapeake Lodging Trust; Grubb & Ellis’ Jordan Richman and Felix Cacciato of Hotel Equity Advisers represented both parties in the deal. Opened in 2006, the property includes a Ruth’s Chris Steak House, a fitness center, and indoor and outdoor pools. Tarsadia will continue to manage the hotel.
LAS VEGAS — Colliers International Hotels, Las Vegas, has completed the $12 million sale of the 150-unit Clarion Suites Hotel located on 5.68 acres at 325 Flamingo Road near the Las Vegas Strip. Colliers’ Mike Mixer represented the seller, Pacific East Flamingo LLC, in the lengthy, bank-owned transaction; the overseas investment-group buyer, 325 Flamingo LLC, has re-branded the property as a Ramada, which is owned by Wyndham Hotel Group.
GARDENA, CALIF. — DCP Properties has acquired a 33,485-square-foot industrial property, located at 400-422 W. Rosecrans Ave. in Gardena, for $2.2 million. The Klabin Company/CORFAC International’s David Grote represented the seller, 400 W. Rosecrans LLC, in the transaction, and Brian Held of Grubb & Ellis represented the undisclosed buyers. Diversified Crating & Packaging will relocate to the two-building facility from nearby Carson.
PHOENIX — Cassidy Turley BRE Commercial has completed the $15.8 million sale of the 230-unit San Riva at The Foothills, a multifamily community located at 2155 E. Liberty Lane in Phoenix. Cassidy Turley’s David Fogler, Steve Nicoluzakis and Dan Dobric represented the seller, San Riva Madison Ownership Co. LLC, in the transaction; the buyers, a joint venture by Scottsdale, Ariz.-based Everest Holdings and Dallas-based Thackeray Partners, represented themselves.
POCATELLO, IDAHO — Grubb & Ellis Healthcare REIT II has acquired a 98.75 percent interest in the 76,000-square-foot, Class A Pocatello East Medical Office Building located at 777 Hospital Way in Pocatello. Built in 2007, the four-story facility is 100 percent leased to Pocatello Health Services LLC and Pocatello Hospital LLC, which are signed through 2018 and 2019, respectively. Shattuck Hammond Partners’ Philip J. Camp and Laca Wong Hammond represented the undisclosed seller in the transaction. Pocatello East Medical Office Building is attached to the 250-bed Portneuf Medical Center, the only acute-care facility within 50 miles. A current renovation and expansion project will add 300,000 square feet to the medical center by mid-2011.
IRVINE, CALIF. — An affiliate of Menlo Equities LLC has purchased the 143,165-square-foot Cartwright Corporate Center, a five-story, Class A office building located at 17770 Cartwright Rd. in Irvine, for $20 million. Cushman & Wakefield’s Jeff Cole, Ed Hernandez and Lars Platt and Janine Padia of JP Realty Services represented the buyer and the seller, Sunset Park Business Trust, in the transaction. Situated in the John Wayne Airport submarket, the building is nearly 70 percent leased.