RANCHO CUCAMONGA, CALIF. — The New York office of Holliday Fenoglio Fowler (HFF) has arranged a $23.28 million loan for the refinancing of Ironwood Apartments, a 260-unit apartment community located in Rancho Cucamonga. Located at 11100 4th St., the 94-percent occupied property features one-, two- and three-bedroom units averaging 920 square feet. Whit Wilcox of HFF secured the 7-year, adjustable-rate loan through Freddie Mac for the borrower.
Western
SANTA MONICA AND HOLLYWOOD, CALIF. — Hamid Soroudi and Kimberly Roberts-Stepp of Charles Dunn Co. has negotiated three multifamily transactions totaling more than $7.42 million in Santa Monica and Hollywood. In a $1.41 million all-cash transaction, E6 LLC acquired a five-unit, 3,256-square-foot property, which is located at 844 14th St. in Santa Monica. Roberts-Stepp represented the buyer in the transaction. Also in Santa Monica, Xenon Investment Corp. sold 1901 Sixth Street, a 16-unit, 14,399-square-foot multifamily property to 1626 N. Fuller LLC for $2.97 million. Soroudi represented the seller; Roberts-Stepp represented the buyer in the transaction. In the final transaction, Jay Harek acquired 1626 N. Fuller Avenue, a 12,540-square-foot multifamily property in Hollywood, from 1626 N. Fuller LLC for $3.05 million. Roberts-Stepp represented the buyer; Soroudi and Roberts-Stepps represented the seller in the transaction.
DENVER — 1620 Grant Street LLC has purchased Winbro, a 66-unit apartment complex in Denver, for $2.12 million. The buyer plans to make capital improvements to the property, which is located at 1620 Grant St. Frank Farrell of Hendricks & Partners’ Denver office represented the seller, Winbro Investors LLC, in the transaction.
HAYWARD, CALIF. — Mariner Health Care (GranCare Inc.) has acquired Hayward Hills Health Care Center, a 74,000-square-foot, 72-bed skilled nursing facility in Hayward. Located at 1768 B St., the property sold for $3.5 million. David Stolte of NAI Capital represented the buyer; Jay Hagglund of NAI BT Commercial represented the undisclosed seller in the transaction.
PHOENIX — Faris Lee Investments has completed the sales of four ground-leased single-tenant retail properties for a combined total of $4.59 million. Located at Paradise Valley Mall in Phoenix, the properties include Arby’s/Wendy’s, Jared Galleria of Jewelry, Bank of America and Children’s World. Orange County, Calif.-based Niguel Partners acquired the 68,820-square-foot Arby’s/Wendy’s location for $1.08 million; Lang Family Trust purchased Jared Galleria of Jewelry for $1.5 million; Commercial Realty Group acquired Bank of America for $1.54 million; and Maverick and EJM Properties purchased Children’s World for $475,000. Richard Walter and Donald MacLellan of Faris Lee represented the seller, Macerich, in the transaction.
VENICE, CALIF. — Kevin Sabin and Lev Galitzin of Sperry Van Ness represented the seller in the disposition of The Venice Rose, an apartment complex located at 15 Rose Ave. in Venice. An undisclosed out-of-state buyer acquired the property for $3.8 million or $348 per square foot. Originally built in 1908 by Abbot Kinney, the property features 13 single units, nine one-bedroom/one-bath units and two two-bedroom/one-bath units. The building also features a rooftop deck with ocean views, huge balconies/patios and hardwood flooring.
ARTESIA, CALIF. — Ron Duong of Marcus & Millichap represented the buyer in the acquisition of Gridley Plaza, a retail building located at 18300 Gridley Rd. in Artesia. The 30,678-square-foot property sold for $3.75 million. At the time of acquisition, the property was 72 percent occupied. Christopher Maling and David Maling of Marcus & Millichap represented the undisclosed seller in the transaction.
TUCSON, ARIZ. —Tucson-based Arizona Mail Order Company Inc. has signed a 10.5-year lease for Centre East, a four-building office complex located at 7840 E. Broadway Blvd. in Tucson. The recently remodeled complex earned the ENERGY STAR rating from the U.S. Environmental Protection Agency. Amenities include fiber optic service and abundant parking for visitors and employees. Buzz Isaacson of CB Richard Ellis, along with Ted Lyon and Michael Brown of Boston-based DTZ FHO Partners LLC represented the tenant; David Volk of CBRE represented the landlord, Tucson-based Houaloa Companies, in the transaction. The value of the lease was not disclosed.
LOS ANGELES — Los Angeles-based BH Properties has received a loan for $59 million for the financing of a 12-property portfolio. The properties, which consist of retail, warehouse and office, are located in Oregon, Florida, Georgia, Utah, Virginia, Texas, Kansas and California. Funded by Wells Fargo’s Real Estate Banking Group, the loan features a 2-year term with a 1-year extension option.
BROOMFIELD, COLO. — Loveland, Colo.-based McWhinney is developing North Park, a 935-acre mixed-use community in Broomfield. Located at the intersection of Interstate 25 and Northwest Parkway, the project will feature more than 6,200 planned residences; approximately 17 million square feet of commercial and mixed-use space, including retail, restaurant and entertainment venues; a 175-acre Applied Research Center; and a 70-acre central park.