SUN CITY WEST, ARIZ. — A new $86 million patient tower has opened at Banner Del E. Webb Medical Center in Sun City West. The 180,000-square-foot, six-story tower offers patient rooms, operating rooms and ICU areas. The tower’s two-story glass-enclosed lobby and second floor ICU waiting room overlook a fountain and healing garden. DPR Construction served as general contractor for the project; RTKL provided architectural services for the project.
SAN FRANCISCO — San Francisco-based BRE Properties Inc. will borrow $620 million this year through a credit deal with Deutsche Bank Berkshire Mortgage and Fannie Mae. The loan, which consists of two $310 million tranches, originates with Deutsche Bank and will be repurchased by Fannie Mae. BRE has already drawn on the first $310 million and expects to draw the second in August. BRE put up 4,651 apartments in 15 properties as collateral to secure the loan.
ALBUQUERQUE, N.M. — Houston-based Option 1 Realty Group is opening its Unser Plaza Shopping Center, which is located on Unser Boulevard in Albuquerque. The $5.9 million center offers 30,000 square feet of retail and entertainment options. Currently signed tenants include High Desert Family Entertainment with Black Light Miniature Golf and family games; Pudge Bros. Pizza; Snap Fitness; HealthMart Pharmacy; Sandia Smiles Dental Center; Premier Spa & Nails and Jade Star Asian Bistro. The project was financed through Imperial Capital and Appian Capital.
SAN DIEGO — San Diego-based Malic Property Management has acquired National Avenue, a 37-unit apartment complex located at 4150 National Ave. in San Diego, for $1.64 million. Built in 1968, the property consists of 18 studios, 18 one-bedroom/one-bath units and one two-bedroom/one-bath unit. The seller was Steven K. Vorres and Cynthia J. Vorres, trustees of the Vorres Family Trust of San Marcos, Calif. Allen Chitayat and Josh Browar of Hendricks & Partners’ San Diego office represented the buyer in the transaction.
HUNTINGTON BEACH, CALIF. — Advance Scientific Enterprises, dba Bensons’ Import, has acquired a 20,440-square-foot light industrial building, which is located at 7442 Vincent Circle in Huntington Beach. U4T LLC sold the property for $2.7 million. Bensons’ Import sells quality bamboo, bamboo poles and bamboo fencing, as well as other products. JR Williamson of NAI Capital’s Newport Beach represented the buyer; Mike Bouma of Voit Commercial Brokerage represented the seller in the transaction.
OAKLAND, CALIF. — Marcus & Millichap has completed the disposition of a 24-unit multifamily building in Oakland. Located at 1502 Alice St., the 13,200-square-foot property sold for $1.79 million. The property, which was built in 1910, features 21 studio units and three one-bedroom/one-bath units. Ben Weil of Marcus & Millichap’s San Francisco office represented the buyer; David Wolfe of Marcus & Millichap’s Oakland office represented the seller. Additional information about the buyer and seller was not disclosed.
EAST LOS ANGELES — Los Angeles County Metropolitan Transportation Authority has selected Woodland Hills, Calif.-based Klorman Construction as design/build general contractor for an $8.65 million Park N Ride parking structure in East Los Angeles. The three-level, 261-car, post-tension structure will be located at 255 South Atlantic Blvd. Construction is expected to begin in May with completion slated for March 2010.
BURLINGAME, CALIF. — Pacific Investments and Holding Co. LLC have acquired Royal Grove Apartments, a 18-unit apartment community located at 1477 Grove Ave. in Burlingame. Clarita and Elvira Realca sold the property for $4.48 million or $249,000 per unit. The property features one-bedroom units averaging 830 square feet. Drew O’Donnell with NAI BT Commercial’s Multifamily Group represented the buyer in the transaction.
LAKE FOREST, CALIF. — George Holdings Lake Forest LLC has acquired The Shops at Lake Forest, a 122,540-square-foot retail center located at 23818-24422 Rockfield Blvd. in Lake Forest. The center is 95 percent occupied and anchored by Ross Dress for Less, CVS/pharmacy and Petco. Terry Parker of Lake Forest-based Parker Commercial Brokerage Company Inc. represented the buyer; Dan Parker of Parker & Associates Inc. represented the seller, DRB Shops LLC, in the transaction. The acquisition price was not disclosed.
SAN JACINTO, CALIF. — Barnhart Inc. and The San Jacinto Unified School District have completed the $32 million addition and modernization of San Jacinto High School in San Jacinto. The 77,168-square-foot addition includes a two-story, 33-classroom building with computer and art labs, a gymnasium with a ticket area and Hall of Fame entry, an outdoor art court with ceramic kilns, soundproof band practice rooms and special education classrooms. HMC Architects designed the project, which was the second phase of the school’s redevelopment plan.
