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Burbank-Boulevard-Senior-Housing-Los-Angeles-CA

TCA Architects, Mercy Housing Complete Affordable Seniors Housing Project in Los Angeles

by Amy Works January 29, 2024

LOS ANGELES — California-based TCA Architects and Mercy Housing California have completed Burbank Boulevard Senior Housing, an affordable housing development for seniors age 55 and older in Los Angeles’ Sherman Oaks neighborhood. Permanent supportive housing is a housing model that combines low-barrier affordable housing, healthcare and supportive services to help residents lead more stable lives, according to TCA Architects and Mercy Housing. Situated on three acres, Burbank Boulevard Senior Housing features 55 studio and one-bedroom units that accommodate single senior occupants. Each apartment features individual kitchens and bathing facilities. The property also offers common recreation spaces and laundry facilities on each floor. Construction began in May 2021 and the property was built in accordance with the latest Cal-Green Building Code standards. Move-ins began in October 2023, and the waitlist is currently closed for the property. The asset is aiming for at least LEED Silver certification.

January 29, 2024

Development New Mexico Retail Western

Whole Foods Market to Open 47,327 SF Location in Albuquerque

by Amy Works January 29, 2024

ALBUQUERQUE, N.M. — On Feb. 22, Whole Foods Market will open a new location at 2100 Carlisle Blvd. NE in Albuquerque. The store is the relocation of an existing Albuquerque store at 2103 Carlisle Blvd. NE, which has served the community for more than 30 years. The new, larger location will feature upgraded amenities, including expanded prepared foods and bakery departments, and a larger and more accessible parking lot. The new store will also carry an expanded product assortment, including more than 400 local items from New Mexico. Whole Foods Market Albuquerque will be open from 9:00 a.m. to 9:00 p.m. opening day. Regular store hours will be 7:00 a.m. until 9:00 p.m. MST daily.

January 29, 2024

Acquisitions Colorado Retail Western

Sidford Capital Buys Two Retail Centers in Colorado for $11.2M

by Amy Works January 29, 2024

DENVER AND LITTLETON, COLO. — Sidford Capital has acquired two shopping centers, totaling 111,142 square feet, in Colorado. A Southern California-based private investor sold the portfolio for $11.2 million. The portfolio includes Athmar Park Shopping Center, a 58,204-square-foot neighborhood retail center at 1865-1935 W. Mississippi Ave. in Denver, and SouthPark Shopping Center, a 52,938-square-foot property at 131-151 and 201-215 W. County Line Road in Littleton. Athmar Park was 77.5 percent occupied at the time of sale, with Family Dollar as the anchor. SouthPark was 84.5 percent occupied at the time of sale and is shadowed anchored by Dollar Tree and Goodwill. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

January 29, 2024

Acquisitions California Multifamily Western

Marcus & Millichap Negotiates $6.9M Sale of Multifamily Property in Los Angeles

by Amy Works January 29, 2024

LOS ANGELES — Marcus & Millichap has brokered the sale 5247 Corteen Place, a 32-unit apartment asset in the Valley Village neighborhood of Los Angeles. A family trust sold the property to an undisclosed buyer for $6.9 million. Rick Raymundo, Jeff Louks and Brett Sanson of Marcus & Millichap represented the seller and the buyer in the deal. The seller owned the property for more than 44 years. JP Morgan Chase provided financing for the acquisition.

January 29, 2024

Acquisitions Arizona Multifamily Western

Cushman & Wakefield | PICOR Brokers $5.1M Sale of Riverside Suites in Tucson, Arizona

by Amy Works January 29, 2024

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Riverside Suites, a multifamily property in Tucson. Riverside Apts LLC acquired the asset from Campbell 33 LLC for $5.1 million. Located at 1725 E. Limberlost Drive, the 28,952-square-foot Riverside Suites features 33 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both parties in the transaction.

January 29, 2024

Colorado Development Multifamily Seniors Housing Western

Cogir Senior Living, Ryan Cos. Open 137-Unit ACOYA Cherry Creek Seniors Housing Project in Denver

by Amy Works January 26, 2024

DENVER — Cogir Senior Living and Ryan Cos. have opened ACOYA Cherry Creek, a senior living community located at 301 S. Harrison St. in Denver. ACOYA Cherry Creek offers 137 independent and assisted living apartments. The community features full-size residential kitchens, multiple dining venues, an art room, a salon, club room, wellness area and an outdoor bar with a view of the Rocky Mountains.

January 26, 2024

Acquisitions Multifamily Washington Western

IPA Brokers $60.5M Sale of Atrium on James Multifamily Community in Kent, Washington

by Amy Works January 26, 2024

KENT, WASH. — Institutional Properties Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Atrium on James, a multifamily property in Kent, midway between Seattle and Tacoma. A tenants-in-common group managed by Open House Westwood LLC sold the asset to FPA Multifamily LLC for $60.5 million, or $201,667 per unit. FPA Multifamily LLC purchased the property on behalf of its Opportunity Fund VII, which has acquired $1.5 billion of assets to date. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer in the deal. Built in 1989 on 21.5 acres, Atrium on James features 300 one-, two- and three-bedroom apartments, averaging 835 square feet with wood-burning fireplaces; private decks and patios with storage closets; walk-in closets; and washers and dryers. Community amenities include a large clubhouse, outdoor swimming pool, leasing office, resident lounge, business center, fitness center, playground and a sports court.

January 26, 2024

Acquisitions Net Lease Nevada Retail Western

Kingsbarn Realty Capital Sells Conoco-Occupied Property in Las Vegas for $7.1M

by Amy Works January 26, 2024

LAS VEGAS — SRS Real Estate Partners has brokered the sale of a retail property, located at 8880 S. Rainbow Blvd. in Las Vegas. Situated on 0.77 acres, Conoco occupies the 3,500-square-foot property under a 20-year, absolute triple-net lease with LV Petroleum LLC, a franchisee gas station operator with more than 30 locations. Las Vegas-based Kingsbarn Realty Capital sold the asset to a Las Vegas-based private investor for $7.1 million. Patrick Luther of SRS Capital Markets represented the seller in the deal.

January 26, 2024

Loans New Mexico Retail Western

Ariel Property Advisors Arranges $5.5M Refinancing for Guadalupe Plaza Retail Center in Albuquerque

by Amy Works January 26, 2024

ALBUQUERQUE, N.M. — Ariel Property Advisors has arranged a $5.5 million cash-out refinancing for Guadalupe Plaza, a shopping center in Albuquerque. The grocery-anchored plaza features 87,000 square feet of retail space. Matt Swerdlow, Matthew Dzbanek and Rhea Vivek of Ariel Property’s Capital Services Group secured the financing for the borrower, a New Jersey-based investor. The 15-year loan includes one year of interest-only payments and a 30-year amortization schedule at a 75 percent loan-to-value ratio with no prepayment penalty.

January 26, 2024

Acquisitions Colorado Net Lease Retail Western

Marcus & Millichap Negotiates $2.2M Sale of Retail Ground Lease in Greeley, Colorado

by Amy Works January 26, 2024

GREELEY, COLO. — Marcus & Millichap has arranged the sale of a 15-year, absolute triple-net ground lease for a Ent Credit Union-occupied property in Greeley, southeast of Fort Collins. A developer sold the asset to an undisclosed buyer for $2.2 million. Drew Isaac and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal. Located at 10th Street Road, Ent Credit Union is part of a mixed-use development that features a Starbucks Coffee, QuikTrip, 177 single-family homes and 189 apartments.

January 26, 2024

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