THORNTON, COLO. — The Denver office of NorthMarq Capital has arranged an approximately $1.52 million permanent loan for Handy Storage, a 234-unit self-storage facility located at 2045 Coronado Parkway North in Thornton. The 33,500-square-foot property consists of seven single-story buildings. Terms of the loan include a 6.95 percent fixed rate and a 30-year amortization. Dale Stewart of NorthMarq’s Denver office secured the financing on behalf of the undisclosed borrower.
LOVELAND, COLO. — Springfield, Mo.-based John Q. Hammons Hotels & Resorts has completed the development of Embassy Suites® — Loveland Hotel, Spa & Conference Center, which is located at 4705 Clydesdale Parkway in Loveland. The eight-story hotel offers 263 suites, 80,000 gross square feet of meeting space, a fitness center, an indoor pool, a sundeck, restaurants, and a full-service spa. The hotel will be managed by John Q. Hammons Hotels & Resorts.
CLACKAMAS, TIGARD AND CEDAR HILLS, ORE. — NBS Financial Services has secured $25 million for three apartment communities in metro Portland. The 235-unit Squire’s Court Apartments in Clackamas received a $10.5 million loan; Riverwood Heights Apartments, a 240-unit complex in Tigard, received $10 million; and the 124-unit Cedar Square Apartments in Cedar Hills received $4.5 million. State Farm Life Insurance Co. provided financing for all the loans, which were arranged by Blake Hering Jr. of NBS Financial.
WASHINGTON AND NEVADA — Marcus & Millichap has brokered two multifamily sales in Wenatchee, Wash., and Las Vegas. In Wenatchee, Marc Cunningham of Marcus & Millichap represented the undisclosed seller in the disposition of Yakima Court Properties, a 15-unit property located at 527 Yakima St., to an undisclosed buyer for $795,000. In Las Vegas, Luis Velazqeuz of Marcus & Millichap represented the undisclosed buyer in the $300,000 acquisition of Cottage Park, a 10-unit apartment community located at 1014 N. 4th St. in Las Vegas. The seller was not disclosed.
SUN CITY WEST, ARIZ. — A new $86 million patient tower has opened at Banner Del E. Webb Medical Center in Sun City West. The 180,000-square-foot, six-story tower offers patient rooms, operating rooms and ICU areas. The tower’s two-story glass-enclosed lobby and second floor ICU waiting room overlook a fountain and healing garden. DPR Construction served as general contractor for the project; RTKL provided architectural services for the project.
SAN FRANCISCO — San Francisco-based BRE Properties Inc. will borrow $620 million this year through a credit deal with Deutsche Bank Berkshire Mortgage and Fannie Mae. The loan, which consists of two $310 million tranches, originates with Deutsche Bank and will be repurchased by Fannie Mae. BRE has already drawn on the first $310 million and expects to draw the second in August. BRE put up 4,651 apartments in 15 properties as collateral to secure the loan.
ALBUQUERQUE, N.M. — Houston-based Option 1 Realty Group is opening its Unser Plaza Shopping Center, which is located on Unser Boulevard in Albuquerque. The $5.9 million center offers 30,000 square feet of retail and entertainment options. Currently signed tenants include High Desert Family Entertainment with Black Light Miniature Golf and family games; Pudge Bros. Pizza; Snap Fitness; HealthMart Pharmacy; Sandia Smiles Dental Center; Premier Spa & Nails and Jade Star Asian Bistro. The project was financed through Imperial Capital and Appian Capital.
SAN DIEGO — San Diego-based Malic Property Management has acquired National Avenue, a 37-unit apartment complex located at 4150 National Ave. in San Diego, for $1.64 million. Built in 1968, the property consists of 18 studios, 18 one-bedroom/one-bath units and one two-bedroom/one-bath unit. The seller was Steven K. Vorres and Cynthia J. Vorres, trustees of the Vorres Family Trust of San Marcos, Calif. Allen Chitayat and Josh Browar of Hendricks & Partners’ San Diego office represented the buyer in the transaction.
HUNTINGTON BEACH, CALIF. — Advance Scientific Enterprises, dba Bensons’ Import, has acquired a 20,440-square-foot light industrial building, which is located at 7442 Vincent Circle in Huntington Beach. U4T LLC sold the property for $2.7 million. Bensons’ Import sells quality bamboo, bamboo poles and bamboo fencing, as well as other products. JR Williamson of NAI Capital’s Newport Beach represented the buyer; Mike Bouma of Voit Commercial Brokerage represented the seller in the transaction.
OAKLAND, CALIF. — Marcus & Millichap has completed the disposition of a 24-unit multifamily building in Oakland. Located at 1502 Alice St., the 13,200-square-foot property sold for $1.79 million. The property, which was built in 1910, features 21 studio units and three one-bedroom/one-bath units. Ben Weil of Marcus & Millichap’s San Francisco office represented the buyer; David Wolfe of Marcus & Millichap’s Oakland office represented the seller. Additional information about the buyer and seller was not disclosed.