LAS VEGAS — Tina Taylor of Marcus & Millichap’s Las Vegas office represented both the undisclosed seller and the undisclosed buyer in the disposition of University Medical Center, an 18,682-square-foot office property located at 2231 W. Charleston Blvd. in Las Vegas. The medical office sold for $7 million. Constructed in 1999, the property houses Total Life Care, a division of the hospital offering a variety of medical services, and the Women’s Clinic.
NORTHGLENN, COLO. — Deutsche Bank Berkshire Mortgage (DBBM) has secured a $10 million Fannie Mae loan for the refinancing of Thistle Sage Apartments in Northglenn. Built in 1971 and renovated in 1995, the 418-unit garden-style community features a picnic area, heated swimming pools, a playground and laundry facilities. The financing was structured to be a 10-year interest-only loan and was funded at 49 percent of value.
TUCSON, ARIZ. — Tucson-based 260 Pantano LLC has acquired Pantano Villas, a 127-unit apartment community in Tucson. Located at 260 S. Pantano Rd., the property sold for $5.3 million. La Jolla, Calif.-based Pantano Coastal LLC sold the property. Art Wadlund of Hendricks & Partners’ Tucson office represented the seller in the transaction.
ROSEVILLE, CALIF. — The Sutter Acute Rehabilitation Institute at Sutter Roseville Medical Center has opened in Roseville. The $40 million, 106,500-square-foot facility serves patients disabled by spinal and brain injuries or illnesses. The new facility features 40 rehabilitation beds, with shell space for 16 additional beds; a 30-bed ventilator unit and ancillary support; nursing units; a central gym; dining and recreation areas; and three connected gardens/courtyards. HGA Architects provided architectural services for the project.
RIO RANCHO, N.M. — Hewlett-Packard Co. (HP) has broken ground for the construction of its new technology and customer service facility in Rio Rancho. The three-story building will offer 218,000 square feet of space and employ at least 1,350 full-time employees by the end of 2012. The city of Rio Rancho has leased 17 acres to HP for 50 years for the property. The $63 million project is being development by Titan Development. Reid & Associates Design Builders are serving as general contractor for the project. The Rio Rancho City Council approved a $5.2 million bond to facilitate public infrastructure improvements at the site, such as roads, water and wastewater. The land and building revert to city ownership at the end of the land lease, which includes a sale-leaseback option.
PUYALLUP, WASH. — Regency Centers has completed the disposition of a former Mervyns store location, which is located at South Hill Mall in Puyallup. The property, which is currently leased to JC Penney, was sold for an undisclosed price. The undisclosed buyer received the 76,682-square-foot building and 6.3 acres of land. The sales price was not released.
SACRAMENTO, CALIF. — Newmark Realty Capital Inc. has arranged $22.75 million in permanent financing for a medical office property located in mid-town Sacramento. Demetri Koston and George Mitsanas of Newmark secured the financing on behalf of the undisclosed borrower. Terms of the transaction were not disclosed.
WHEAT RIDGE, COLO. — Garrette Matlock and Jon Hendrickson of Marcus & Millichap represented the undisclosed seller in the disposition of Chase Plaza, a retail building located at 5455 W. 38th Ave. in Wheat Ridge. The 17,613-square-foot property is currently 93 percent leased to seven tenants, including Weight Watchers, Cricket, Allstate Insurance and Complete Painting Solutions. Clayton Primm, also of Marcus & Millichap, represented the undisclosed buyer, which acquired the property for $1.275 million.
LAS VEGAS — CityCenter Holdings LLC, a joint venture between MGM MIRAGE and Infinity World Development Group, has revealed changes to the scope of CityCenter in Las Vegas. The changes include postponing the opening of The Harmon Hotel & Spa until 2010 and the cancellation of The Harmon residential condominium component. When complete, The Harmon Hotel & Spa will offer 400 rooms and suites. The residential component would have offered 200 residential units, of which 88 are under contract to be sold. Purchasers will be entitled to receive refunds of deposits and given the opportunity to purchase units at the Residences at Mandarin Oriental Las Vegas, Vdara and Veer Towers. With the cancellation of The Harmon residential component, as well as other additional cost savings, the company now anticipates total cost savings of $600 million instead of its previously stated savings of $400 million. Additionally by postponing The Harmon Hotel, CityCenter will defer approximately $200 million in construction costs to complete the interior fit out of The Harmon. All other components of CityCenter remain on schedule for a December 2009 grand opening.
ENGLEWOOD, COLO. — B&J Properties Limited LLC has acquired Arapahoe Center Building, an office property located at 13111 E. Briarwood Ave. within Centennial Airport Business Park in Englewood. Built in 1982, the 58,750-square-foot building sold for $4.5 million or $76 per square foot. Ron Allum of Fuller Real Estate represented the buyer; Riki Hashimoto and Dan Grooters of Grubb & Ellis represented the seller, Thirteen One Eleven Corp., in the transaction.