CALIFORNIA — PCCP LLC has acquired the A note of a loan previously held by Column Financial. The company purchased the B note of the same loan from Column Financial in December 2007. The loan is secured by two hotels owned by The Carlyle Group: the 309-room Crowne Plaza at San Francisco International Airport in Burlingame, Calif., and the 156-room Holiday Inn Express in Walnut Creek, Calif. PCCP now holds both the A and B notes of the whole loan, which was originally a $48.3 million senior loan secured by a portfolio of four hotels in Northern California.
SPRING VALLEY, CALIF. — Westcore Properties’ entities, Gladstone LLC and West Palm Blackpoint Associates LP, have completed the disposition of Sweetwater Village Shopping Center, which is located at 3505-3515 Sweetwater Springs Blvd. in Spring Valley. Attiq Investments LLC acquired the two-story, 43,400-square-foot property for $6.2 million. Attiq, a food distributor, plans to occupy the 28,000-square-foot vacant anchor space. Pete Bethea, John Jennings and David Bradley of Cushman & Wakefield represented the sellers; Brad Ihde of USA Realty & Loans represented the buyer in the transaction.
LAS VEGAS — The Sauter Companies has completed the sale of Barcelona Hotel & Casino, a 178-room hotel and casino property located at 5011 E. Craig Rd. in Las Vegas. The Siegel Group purchased the property for $12 million from Jewel Dixon Jr. The transaction included the hotel and casino, Green Valley Grocery-leased convenience store and gas station, and 5 acres of vacant land. Patrick Sauter of The Sauter Companies brokered the transaction.
PHOENIX — Bill Bayless and Andrew Brigham of CB Richard Ellis’ Phoenix office represented Phoenix-based Furniture Values International LLC in the 7-year, 323,345-square-foot lease of Valley West Distribution Center in Phoenix. The property is located at 601 N. 75th Ave. Furniture Values International is a distributor of home furnishings, including the aspenhome™ furniture line. Paul Schifman provided in-house representation for the landlord, Oakland, Calif.-based Myron Zimmerman Investments.
HENDERSON, NEV. — The Bellevue Apartments LLC has acquired Wood Creek Villas, a 75-unit multifamily property located at 6551 Annie Oakley Dr. in the Green Valley area of Henderson. The sellers, Donia Family LP and Donia Investments LP, sold the property for $7.5 million. Patrick Sauter and Bonnie Densmore of The Sauter Companies brokered the transaction.
LOS ANGELES — Greg Bassirpou of Marcus & Millichap represented both undisclosed parties in the disposition and acquisition of a nine-unit apartment property in Los Angeles. Located at 3250 Andrita St. and built in 1988, the property sold for $1.145 million.
PATTERSON, CALIF. — McShane Development Company/MetLife Real Estate Investments has completed the construction of the 529,970-square-foot, phase-one distribution facility at co-developer’s KeyStone West Business Park in Patterson. The facility features 120 docks, 32-foot clear height, 52-foot by 50-foot bays and parking for 90 truck trailers and 348 vehicles. The 123-acre industrial park has been designed for the development of two additional industrial facilities from 125,000 square feet to 1.6 million square feet. McShane Construction Company’s Irvine, Calif., office and Ware Malcomb provided design/build services for the project.
CENTURY CITY, CALIF. — Newmark Realty Capital Inc. has arranged an $88 million loan for an office tower, which is located at 1900 Avenue of the Stars in Century City. The 27-story tower offers 600,000 square feet of office space. George Mitsanas, Monique Monzon and Peter Hillakas of Newmark Realty Capital Inc. secured the financing. Specific terms of the loan were not disclosed.
LAS VEGAS — CORE Construction—Nevada, serving as general contractor, has broken ground on the Ralph and Betty Engelstad School of Health Sciences, which is located at 6375 W. Charleston Blvd. on the campus of the College of Southern Nevada. The 10,000-square-foot facility will house the college’s Cardiorespiratory Sciences Program. The $3.99 million project is slated for completion in June 2010. SH Architecture is providing architectural services for the project.
LAS VEGAS — Las Vegas-based Crisci Builders, acting as general contractor, has broken ground for the construction of phase one of Par 3 Landscape and Maintenance’s new facility at 4610 N. Wynn Rd. in Las Vegas. The first phase consists of a 28,603-square-foot industrial project, with approximately 16,000 square feet allotted for a material recovery facility and 11,703 square feet for the maintenance portion. The second phase will consist of a two-story, 12,000-square-foot office building. Naples Wynn LLC contracted Crisci Builders for the project. The first phase is scheduled for completion in May, with the second phase slated for completion in winter 2009. Jam Design Studios is the architect of record for the $2.8 million project.