DENVER — NorthMarq Capital has arranged $16 million in permanent financing for the Enclave at Belleview Station, which is located at 4400 S. Monaco St. in Denver. Built in 1992, the property consists of 11 three-story buildings offering 238 apartment units. Additionally the community features 100 garage spaces, a clubhouse, a heated swimming pool, a spa, a picnic/BBQ area, a business center and a fitness center. Apartment units feature gourmet kitchens with wood flooring, wrap-around balconies in select units, cherry cabinetry, stainless steel appliances, dishwashers, built-in microwaves and track lighting in the kitchen. Steve Koeneke and Chris Williams arranged the financing for the borrower, Giffis Premium Apartment Fund LLC.
Western
TUCSON, ARIZ. — QuickTrip Corp. has purchased 2.6 acres of land at 5154 E. Speedway in Tucson for the development of a new store. The property sold for $1.32 million. Doug Wright of Commercial Investors Realty represented the purchaser; Steve Cohen of PICOR Commercial Real Estate Services, a Cushman & Wakefield Alliance Member, represented the seller, Don Medoff, in the transaction.
SAN DIEGO — San Diego-based Bilbro Construction Co. has been selected for a Naval Engineering Command (NAVFAC) Southwest firm fixed-price, indefinite-delivery/indefinite-quantity (IDIQ) multiple award construction (MACC) contract for new construction and renovation of general building construction throughout California and Arizona. Bilbro is one of eight contractors selected from a pool of 46 firms that competed for the $750 million design-build MACC contract. The work includes design, new construction, renovation and repair for industrial, commercial and institutional buildings and infrastructure projects at sites throughout the Southwest.
CHULA VISTA, CALIF. — San Diego-based Mark 1 LP has acquired Shawnwood Forest, a 38-unit apartment community located at 571-581 Arizona St. in Chula Vista. The property sold for $3.2 million. Chris Zorbas of Marcus & Millichap represented the buyer; Chris Rogers of Hendricks & Partners’ San Diego office represented the seller in the transaction.
HOLLYWOOD, CALIF. — Meridian Capital has arranged $8.23 million in permanent financing for Lanewood Apartments LP for Lanewood Pines Apartments in Hollywood. Located at 7027 Lanewood Ave., the property offers 79 apartment units. Alex Katz and Rivkah Gross of Meridian’s Los Angeles office negotiated the non-recourse, 5.77% fixed interest rate for 10 years.
FULLERTON, CALIF. — BJW Properties has acquired 1451 S. Manhattan, a 22,400-square-foot industrial building in Fullerton, for $3.8 million. Dan Powers of CB Richard Ellis represented the buyer; Jim McFadden and Bob Crenshaw of Grubb & Ellis represented the seller, CP Trust, in the transaction.
LAKE TAHOE, CALIF. — Taylor Flynn of Marcus & Millichap represented the undisclosed seller in the disposition of Alpine Inn & Spa, a 39-room hotel located at 920 Stateline Ave. in Lake Tahoe. An undisclosed buyer acquired the property for $1.42 million.
DENVER — Denver-based The Griffis Group recently acquired The Enclave at Belleview Station, a 238-unit Class A apartment community located within Denver Tech Center in Denver, for $20.2 million. The property was financed with a new $16 million FNMA loan. Eric Tupler, Mike Easter and Craig Stack of CB Richard Ellis Capital Markets facilitated the sale. The seller was not disclosed.
RANCHO PALOS VERDES, CALIF. — Construction is complete for The Salvation Army College for Officer Training at Cresmont’s new Siemon Hall Cadet Housing Building, a 20-unit family-housing facility located at the Rancho Palos Verdes campus. The $25 million, 27,500-square-foot building was designed by Heery International. Each unit features a full kitchen with laundry facilities, and a master bedroom with a walk-in closet and bathroom.
LOS ANGELES — El Segundo, Calif.-based Cardinal Investments has acquired Berendo-Willow Brook Apartments in Los Angeles. Located at 1001-1005 N. Berendo St. and 4705 Willow Brook Ave., the 18-unit property sold for $1.65 million. Brent Sprenkle of Hendricks & Partners’ West Los Angeles office represented the undisclosed seller in the transaction.