SANTA CLARITA, CALIF. — NorthMarq Capital’s Los Angeles Regional office has arranged an $18.08 million first mortgage for Meadowridge Apartments, a 172-unit apartment complex in Santa Clarita. The 10-year loan has 2 years of interest-only payments followed by a 30-year amortization schedule. Ory Schwartz of NorthMarq arranged the loan through the company’s affiliate, AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. The borrower was not disclosed.
SANTA FE, N.M. — Supportco Properties has purchased Physicians Plaza of Santa Fe, a 50,468-square-foot medical office building located at 1631 Hospital Dr. in Santa Fe. The two-story multi-tenant property sold for $13.8 million or $273 per square foot. John Smelter of Marcus & Millichap represented the buyer. Smelter and Sam Medford, also of Marcus & Millichap, represented the seller, Santa Fe MOB, in the transaction.
OAKLAND, CALIF. — San Francisco-based Red Branch Hall Inc. has purchased 6116 Telegraph Avenue in Oakland. The 17-unit multifamily property sold for $2.37 million. The seller was San Rafael, Calif.-based Alameda Apartments. Martin Higgins of Hendricks & Partners represented the seller in the transaction.
SEAL BEACH, CALIF. — CB Richard Ellis has brokered the $45.3 million sale of Old Ranch Towne Center, a retail center located at 12300-12490 Seal Beach Blvd. Bob Young, Steve Brabant, Glenn Smigiel and Rick Abraham of CBRE’s Phoenix office represented the seller, a southwestern U.S.-based partnership. Sam Alison and Dan Riley of CBRE’s Los Angeles office represented the buyer, Westlake, Calif.-based DSB Properties.
EL CAJON, CALIF. — San Diego-based Gafcon Inc., a construction and management consulting firm, has started construction on a new $40 million Public Safety Building in El Cajon. Proposition O, a half-cent sales tax, is funding the 119,400-square-foot property. The five-story building will include administrative and operational space for all divisions, a joint police and fire emergency operations center, a community meeting room, a communications center, an indoor firing range, a crime laboratory, property processing and storage area, a short-term custody facility and a central data center. The project is scheduled for completion in June 2011. KMA Architecture & Engineering was selected as the primary architect in partnership with McClaren, Wilson & Lawrie. Ledcor Construction is serving as general contractor for the project.
GILBERT, ARIZ. — Hendricks & Partners has brokered the sale of Sky View Ranch, which is located at 4632 East Germann Rd. in Gilbert, for $17.5 million. The 232-unit property is a Class A apartment complex consisting of 11 three-story buildings with one-, two-, and three-bedroom units. The seller was Fairfield Skyview Ranch L.P., and the buyer was Mid-America Apartments, L.P. Mark Forrester and Bob Bruno of Hendricks’ Phoenix office negotiated the transaction on behalf of the seller.
HAYWARD, CALIF. — Jay Hagglund and Eddie Shuai from NAI BT Commercial Oakland along with Ted Carpenter of Carpenter Associates have represented Barbaria Commercial Properties LLC in the sale of a 65,287-square-foot light industrial/warehouse building. Located at 30680 Huntwood Ave. in Hayward., the property went for $3.5 million and the building was completely vacant at the time of the sale. The buyer, Jason Kim, dba Pinnacle Printing, will use the facility as its new printing headquarters.
PEORIA, ARIZ. — Deerfield, Ill.-based Sherman Residential has acquired Alexan Paradise Lane, a 240-unit luxury apartment community in Peoria, for $21.5 million. Located at 8092 W. Paradise Lane, the 247,960-square-foot property features a state-of-the-art athletic center, a business center with Wi-Fi access, a clubhouse and a heated resort-style swimming pool with spa. Units feature spacious floorplans, 9-foot ceilings, contemporary kitchens with black appliances, faux granite countertops, tile entryways and full-size washers/dryers. Tyler Anderson and Sean Cunningham of CB Richard Ellis’ Phoenix office represented the seller, a joint venture between Phoenix-based Trammell Crow Residential and Opus West Corp.
AUBURN, CALIF. — Germany-based Miltenyi Biotec has purchased a 60,000-square-foot freestanding flex building for an undisclosed price. The property is located at 2303 Lindbergh St. within the Auburn Airport Business Park in Auburn. Miltenyi Biotec specializes in cell biology, immunology, regenerative medicine and molecular biology. The seller was The Abbey Company.
HENDERSON, COLO. — Brighton Road Investments has acquired the TCI/Michelin building, which is located at 9156 Brighton Rd. in Henderson. North South Properties of Hartsville sold the facility for $3.4 million. The 27,000-square-foot property, which was built-to-suit for TCI/Michelin, features retail, office and industrial space. TCI/Michelin currently occupies the space with 5 years remaining on its lease. Russ Agnew with Pinnacle Real Estate Advisors represented the buyer; Justin Krieger and Rob Edwards, also of Pinnacle Real Estate Advisors, represented the seller in the transaction.