NORTH SCOTTSDALE, ARIZ. — La Privada at Scottsdale Ranch, a 350-unit multifamily property, has traded hands for $32 million. Located at 10255 E. Via Linda in North Scottsdale, the property was acquired by an affiliate of ConAm Group of San Diego. The seller was Scottsdale, Ariz.-based 10255 East Via Linda LLC. The property features two swimming pools, a spa, a picnic and barbeque area, tennis courts, putting greens, a clubhouse, a fitness center and a business center. At the time of acquisition, the community was 93 percent occupied. Tyler Anderson and Sean Cunningham of CB Richard Ellis’ Phoenix office represented the seller in the transaction. Rocco Mandala of CBRE|Melody arranged financing for the acquisition.
Western
DENVER — Alliance Residential Company has opened Broadstone Vesta, a 212-unit apartment community located at 3310 S. Kenton St. in Denver. The community features one-, two- and three-bedroom apartments, a resort-style pool with tanning shelf and spa, a multimedia athletic club with free weights and extensive cardio equipment, a clubhouse with a gourmet kitchen and WiFi Internet access, a social lounge with plasma television and coffee bar, and an outdoor patio with BBQ grill and picnic tables.
MENIFEE, CALIF. — Los Angeles-based Arya Investments LLC has purchased Newport Crossing, a 25,049-square-foot retail center located at 26015-26035 Newport Rd. in Menifee. The property is tenanted by Jack in the Box Inc.’s new full-service Quick Stuff convenience store concept, which includes a Shell Gas fuel station and a full-size Jack in the Box restaurant with drive-thru; Great Clips; Hollywood Video; IHOP; Submarina; UPS Store and Verizon Wireless. Santa Monica, Calif.-based Newport Murrieta Partners LLC sold the property for $9.95 million or $397 per square foot. Mariko Beaver of Venture Real Estate Group and Kandice Thayer of First Team Real Estate represented the buyer; Edward Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the transaction.
PASADENA, CALIF. — The $41 million Cahill Center for Astronomy and Astrophysics at the California Institute of Technology in Pasadena has opened as part of the institution’s $120 million modernization program. The 100,000-square-foot building is the second of five projects across campus that are part of the program. Designed by Morphosis, The Cahill Center was constructed to achieve LEED Gold status. Sustainable features include exterior panels that reflect heat, light wells that allow sunlight into basement laboratory spaces, occupancy sensors for lighting and drought-resistant landscaping.
DENVER — Phoenix-based Alliance Residential Co. has opened Broadstone Vesta, a 212-unit apartment community located at 3310 S. Kenton St. in Denver. The property comprises six buildings with a mix of one-, two- and three-bedroom units. Building amenities include a resort-style pool with a tanning shelf and a spa, an athletic club, a clubhouse with a gourmet kitchen and wireless Internet access, a social lounge with a plasma television and a coffee bar, and an outdoor patio with barbecue grills and picnic tables.
SAN DIEGO COUNTY, CALIF. — BYCOR General Contractors has nearly finished constructing the 104,397-square-foot Building 902, a Class A office building in San Diego County’s Liberty Station. Delivery is expected late this month. Building 902 was constructed to Silver LEED specifications and features water-efficient fixtures, roof finishes aimed at reducing heat and locally produced building materials. The property is 77 percent leased to BAE Systems on a 10-year contract. Liberty Station already houses six fully leased buildings. With the addition of Building 902, the development will span 22 acres and encompass 380,000 square feet of office space.
OAKLAND, CALIF. — The Roman Catholic Diocese of Oakland has sold the Cathedral of St. Francis de Sales and rectory to EAH Housing for an undisclosed price. The Oakland site was the former location of a cathedral that was destroyed by the Loma Prieta earthquake. EAH plans to build the 100-unit Cathedral Gardens affordable housing development on the land. The rectory will be preserved and incorporated into the new development. TRI Commercial/CORFAC International’s Frank Arthur represented the seller, and the firm’s Bill Karr, Robert Ligon and Larry Westland represented the buyer.
ARCADIA, CALIF. — McCarthy Building Cos. has broken ground on a five-story, 154,486-square-foot patient tower at the Methodist Hospital of Southern California in Arcadia. The $140 million development features a first-floor emergency room, a 20-bed intensive care unit and 40 surgical beds. The added space will increase the hospital’s emergency room beds by 65 percent and will grow the ICU by one third. The total cost of the development is estimated at $218 million, which will be funded through HUD bonds. Delivery is slated for 2011.
BREA AND FULLERTON, CALIF. — Voit Commercial Brokerage has brokered two industrial transactions in Orange County worth $5.8 million. Albany Synergistics has purchased a 32,559-square-foot industrial property, located at 615 and 655 Berry St. in Brea, from North Anaheim Associates for $4.5 million. Voit’s Mike Hefner represented Orange, Calif.-based Albany Synergistics, and Voit’s Mitch Zehner and Louis Tomaselli represented the seller. Zehner and Tomaselli also represented both parties in GLI Kimberly’s sale of a 7,247-square-foot warehouse to Fullerton Development for $1.3 million. The property is located at 1556 Kimberly Ave., Unit 16, in Fullerton.
EDMONDS, WASH. — Norris Beggs & Simpson has secured $3.7 million in financing for the 38-unit Fairway Apartments. The 15-year-old complex is located at 7310 208th St. S.W. in Edmonds. The 3-year loan comes with a 6.25 percent interest rate and a 30-year amortization schedule. Erich Guenther of NBS’ Seattle office arranged the loan.