PASADENA, CALIF. — Nicholas Kokoris and Maria Kokoris of San Marino, Calif., has acquired Madison Heights in Pasadena. Located at 541 Madison St., the six-unit property sold for $1.4 million or $267.38 per square foot. The property consists of two-bedroom/one-bath units. Kevin Hurley and Kevin Lutz of Hendricks & Partners represented the seller, Huntington Beach, Calif.-based Aldoroty Properties, in the transaction.
ALHAMBRA, CALIF. — David Ridgway and Glen Suh of Marcus & Millichap represented the undisclosed seller in the disposition of a 7,840-square-foot retail property in Alhambra. An undisclosed buyer acquired the property, which is located at 1509 W. Valley Blvd., for $1.37 million.
WOODINVILLE, WASH. — Newmark Realty Capital Inc. has arranged a $43.75 million loan for the Downtown Woodinville Shopping Center in Woodinville. The 325,000-square-foot retail center is tenanted by Top Foods, a 12-screen Cineplex Odeon Theatre, PetSmart, Barnes & Noble, Eddie Bauer and Cost Plus. Michael Taylor of Newmark’s Seattle office secured the permanent financing through John Hancock Life Insurance Co. Newmark also worked with Seattle Mortgage and Glacier Real Estate Finance on this transaction.
ENCINITAS, CALIF. — The city of Encinitas has completed the reconstruction of Fire Station No. 3 in Encinitas. Located at 801 Orpheus Ave., the two-story, 7,256-square-foot station is twice the size of the 1970s-era station, which formerly occupied the site. The first floor features offices, a training classroom, a physical fitness center and three oversized bays for fire trucks and other emergency equipment. The second floor features a living area with bedrooms, a dining area, a kitchen and a day room with an outdoor deck. Barnhart Inc. served as construction manager for the $3.55 million project. Domusstudio Architecture provided architectural services for the project.
BREA, CALIF. — John Nguyen of Marcus & Millichap represented the undisclosed seller in the disposition of Stonewood, an apartment property located at 410 W. Imperial Blvd. in Brea. The 35-unit property sold for $5.5 million to an undisclosed buyer.
DENVER — Denver-based ProLogis has closed on three secured loans totaling $347 million with two major life insurance companies. Two of the loans, totaling $245 million, are 10-year, interest-only, secured corporate financings with 50 properties in 13 markets as security. The remaining $102 million loan is a 5-year, interest-only, secured corporate financing with 14 properties in eight markets as security. The proceeds of the loans will be used initially to repay line of credit borrowings and address the refinancing of the $285 million corporate maturities for 2009 and a portion of 2010 corporate maturities.
BOISE, IDAHO — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has arranged a $1.25 million loan through Fannie Mae DUS® Small Loan product line for the 44-unit Maple Grove Apartments in Boise. Terms of the 10-year loan include a 30-year amortization schedule and a note rate of 5.5 percent. Jon Red of Arbor’s Spokane, Wash., office originated the loan on behalf of the undisclosed borrower.
PORTLAND, ORE. — The Realty Associates Fund VI LP has acquired a 126,388-square-foot industrial building, which is located at 17625 N.E. Sandy Blvd. in Portland. Dutton Acquisitions LLC sold the property for $6.15 million. Kevin Shannon and Scott Schumacher of CB Richard Ellis represented the buyer; Nick Kucha and Don Ossey of Capacity Commercial Group represented the seller in the transaction.
HURRICANE, UTAH — Bob Sanner and Rick Sanner of NAI BT Commercial represented both undisclosed parties in the sale and acquisition of a freestanding retail building, which is located at 1235 W. State St. in Hurricane. The 14,820-square-foot asset sold for $4.07 million or $275 per square foot. The property is fully occupied by Walgreens.
OAK HARBOR, WASH. — Locally based First American Exchange has acquired Villa Marina in Oak Harbor. Located at 101 S.E. Ely St., the 24-unit apartment community sold for $1.32 million. The buyer plans to renovate the property. Steve Hertling of Coldwell Banker represented the buyer; John Shaw of Hendricks & Partners’ Seattle office represented the seller, Nevada City, Calif.-based Pacific Realty Exchange, in the transaction.