Western

NORTH HOLLYWOOD, CALIF. — Meridian Capital Group has arranged $61.97 million in ground-up construction and development financing for NoHo Commons Office Building (NoHo III), which will be located at 5250-5280 Lankershim Blvd. in North Hollywood. As the third and final phase of NoHo Commons, the nine-story, 180,000-square-foot office tower will feature a 700-space parking garage and a 24,500-square-foot art house theater. Designed by The Jerde Partnership, the property is also LEED Silver certified. NoHo Commons is a private-public partnership between JH Snyder Company and the Los Angeles City Redevelopment Agency. Allan Lieberman and Tal Savariego of Meridian’s New York office secured the loan on behalf of the borrower, JH Snyder Company.

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LITCHFIELD, ARIZ. —San Francisco-based Giurland Inc. has acquired Litchfield Park Plaza I, a five-building office complex in Litchfield, for $3.8 million. Located at 501-555 E. Plaza Circle Dr., the property offers 23,691 square feet of office space. Giurland Inc. purchased the property through its advisory agent, San Francisco-based PSAI Realty Partners, from Modesta, Calif.-based LPPI LLC. Ray Harris, Eric Witchterman and Ann Sondrol of Grubb & Ellis|BRE Commercial represented both parties in the transaction.

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IRVINE, CALIF. — Shorenstein Properties LLC, on the behalf of Shorenstein Realty Investors Nine LP, has acquired Main Plaza, a 607,056-square-foot Class A office complex located near John Wayne Airport in Irvine. Built in 1988, the complex consists of twin 12-story office towers, two restaurants and a six-level parking structure. At the time of acquisition, the property was 70 percent occupied with tenants such as Lawyers Title Insurance, Balboa Capital Corp., Greenberg Farrow and Stewart Title Co. Eastdil Secured represented the seller, Los Angeles-based Maguire Properties, in the transaction. The transaction price was not disclosed.

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CARLSBAD, CALIF. — Danielson DSS is developing a two-story office building for ViaSat Inc. in Carlsbad. Located at 2530 Campbell Pl. within Bressi Ranch Corporate Center, the 40,000-square-foot building will feature multiple offices and seven large manufacturing labs. Ledcor Construction Inc. is serving as general contractor for the project, which is slated for completion in February 2009. Smith Consulting Architects provided architectural services for the project.

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COARSEGOLD, CALIF. — McCarthy Building Companies Inc. has completed the construction of the $100 million Chukchansi Gold Resort & Casino expansion project in Coarsegold. The expansion includes a 13-story hotel tower offering 214 luxury rooms and suites, a full-service spa, an indoor/outdoor pool, a restaurant, an arcade and administrative offices. The guestrooms and suites feature larger-sized rooms, granite countertops, plasma televisions, fireplaces, separate seating areas and jetted tubs. The 9,000-square-foot Serenity Springs Spa offers locker rooms, saunas, steam rooms, massage rooms, lounges, a fitness area and a salon. The hotel also features a 70,000-gallon pool with a swim-up poolside bar, and Nativo’s, a 4,000-square-foot Italian restaurant. The resort now offers 406 rooms and suites. St. Louis-based Thalden-Boyd Architects provided architectural services for the expansion. The resort and casino is owned by the Picayune Rancheria of the Chukchansi Indians.

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ALISO VIEJO, CALIF. — Astronic Inc., an electronic manufacturing service producer, has purchased a 73,742-square-foot industrial building in Aliso Viejo. Japan-based Tamiya America Inc. sold the property, which is located at 2 Orion, for $13.2 million. Astronic plans to use the building as its corporate headquarters. Jeff Mitchell of Voit Commercial represented the buyer; Gary Allen of Grubb & Ellis’ Newport Beach, Calif., office and Yasushi Shiromi of the firm’s L.A. South Bay office represented the seller in the transaction.

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CARLSBAD, CALIF. — Bressi Ranch Medical Plaza LLC has secured financing for the construction of a two-story, for-sale medical office building at 6221 Metropolitan St. in Carlsbad. Bressi Ranch Medical Plaza, the 19,776-square-foot property, is slated for completion in spring 2009. Approximately 45 percent of the office suites have been pre-sold to professional medical groups. Smith Consulting Architects provided architectural services for the project, while Pacific Building Group is serving as general contractor. Paul Conzelman of Bridgeport Investments arranged the financing, which was provided by Newport Beach, Calif.-based Cal National Bank.

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REDLANDS, CALIF. — Ory Schwartz in the Los Angeles office of NorthMarq Capital has arranged $45 million in first mortgage financing for Palm Grove Center located in Redlands. The retail property currently measures 245,052 square feet in size, and upon completion of the last phase, the project will total 251,052 square feet. Financing was based on a 3-year interest-only term, with two 1-year extensions. The loan was arranged for the borrowers, Orange County, Calif.-based private investors, through NorthMarq’s relationship with a undisclosed regional bank. Tenants at the center include JC Penney and Babies/Toys “R” Us.

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SACRAMENTO, CALIF. — Newtown Square, Pa.-based GMH Capital Partners has brokered the sale of The Verge, a 288-unit apartment community located at 6730 4th Ave. in Sacramento. Lake Forest, Calif.-based Valeo Cos. has acquired the property for $36.5 million. The Class A multifamily property consists of 18 three-story buildings and one single-story clubhouse/leasing office. With 264,366 square feet of net rentable area, The Verge was constructed to house students from the University of California, Sacramento. Dave Forrest, Bill Tourtellotte, Randall Calvert and Tom Haak of GMH Capital Partners represented the seller in the transaction.

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FORT COLLINS, COLO. — Marcus & Millichap has represented both parties in the $11.3 million sale of Landmark Apartments, which is located at 1050 Hobbit St. in Fort Collins. The apartment community, which houses 120 units in 12 buildings, is situated 1 block away from the Colorado State University campus. An undisclosed Ohio-based investor has acquired the property from a Delaware-based company. Dave Potarf, Dan Woodward and Jordan Robbins in the Denver office of Marcus & Millichap represented the seller in the transaction.

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