SAN DIMAS, CALIF. — NorthMarq Capital has arranged $11.36 million in first-mortgage financing for the 164-unit Sunnyside Apartments, a multifamily property located in San Dimas. Based on a 7-year term and a 30-year amortization schedule, the loan was arranged for the borrower through Freddie Mac by NorthMarq’s Daniel McCarthy.
Western
TRACY, CALIF. — AMB Property Corp. has leased approximately 390,280 square feet of industrial space at Building 2 within its AMB Chabot Commerce Center in Tracy. Terms of the deal were not disclosed. The lessee, a consumer electronics retailer and repeat tenant, will use the distribution center to service its Northern California customer base.
ENGLEWOOD, COLO. — Unique Properties LLC/TCN Worldwide has negotiated the almost $1.78 million acquisition of a 44,233-square-foot warehouse building, located at 3000-3066 S. Platte River Dr. and 1205-1281 W. Dartmouth Ave. in Englewood. Situated on a 2.99-acre lot with a fenced yard, the industrial property was 100 percent occupied by six long-term tenants at the time of sale. Unique Properties’ Brian McKernan represented the buyer, Platte River Warehouse LLC, in the transaction, and CT Fuller Real Estate’s R.C. Myles, Craig Myles and Jeff Halsey represented the seller, Grace Land & Improvement Co.
HIGHLAND, CALIF. — Faris Lee Investments has closed the $2.1 million sale of the 14,337-square-foot Stoney Creek Retail Center, located at 7354 Stoney Creek Drive in Highland. Built in 2007 and 91 percent occupied, the property consists of two multi-tenant buildings and an auto-service pad building occupied by Valvoline Express Lube. Faris Lee’s Dennis Vaccaro and Rich Walter represented the REO seller, California Bank & Trust, and the buyer, Canoga Park, Calif.-based Infinity Commercial Group LLC, in the all-cash transaction.
SACRAMENTO — NorthMarq Capital has arranged first-mortgage financing of $16.75 million for the 160-unit Wolf Ranch Apartments, a multifamily property located at 7300 Jacinto Ave. in Sacramento. NorthMarq’s John Kerslake arranged the financing for the borrower through Freddie Mac.
IDAHO FALLS, IDAHO — Walker & Dunlop LLC has provided a $6.5 million acquisition loan for the 157-unit Teton Apartments, a 13-building, garden-style multifamily community located in Idaho Falls. The 80 percent loan-to-value financing for Newport Beach, Calif.-based Capstone Commercial Properties was structured with a 10-year term and a 30-year amortization.
TACOMA, WASH — Marcus & Millichap has negotiated the nearly $1.88 million acquisition of Center Street Plaza, a 20,321-square-foot retail property located at 4916 Center Street in Tacoma. The brokerage firm’s Dino Christophilis represented the private-investor buyer in the transaction.
BOZEMAN, MONT. — Berkadia Commercial Mortgage has originated a $9.25 million fixed-rate loan for the refinance of the 134-unit Trout Meadows Apartment Homes, a newly completed Class A garden-style multifamily community in Bozeman. Representing a 75 percent loan-to-value ratio, the financing has a 10-year term and 30-year amortization. Berkadia’s Louis Weisman originated the loan through Fannie Mae for the borrower, Crestview Lake LLC, a repeat client.
ONTARIO, CALIF. — A 100,680-square-foot Kmart, a single-tenant, net-leased property located at 1670 E. 4th Street in Ontario, has traded hands for $7.25 million. Marcus & Millichap’s Irwin Woldman represented the buyer in the transaction, and the brokerage firm’s Alan Krueger represented the seller; both parties were private investors.
ESCONDIDO, CALIF. — Grubb & Ellis has negotiated the sale of the 49,324-square-foot State Place Business Park, located at 300 – 398 State Place in Escondido. Terms of the deal regarding the four Class A, multi-use buildings were not disclosed. Grubb & Ellis’ Alan Deszcz and Dave Stassel teamed with Michael Lawrence of Marcus & Millichap in representing the seller, MDC State Place LLC, in the transaction; Deszcz and Stassel also represented the buyer, State Place Partners LLC.