VAN NUYS, CALIF. — Jeffrey Louks of Marcus & Millichap’s Encino, Calif., office represented the seller in the disposition of 8070 Langdon Avenue in Van Nuys. The 39-unit apartment property sold for $4.4 million. David Levy of Marcus & Millichap’s West Los Angeles office represented the undisclosed buyer in the transaction.
BOISE, IDAHO — Love Funding has closed an $11.46 million refinance loan for nine assisted-living facilities located throughout the Boise area. The assets each features 15 beds and are located in six sites around Boise. Chad Ricks of Love Funding’s Dallas office secured the financing for the borrower, The Cottages II LLC, by utilizing the HUD 232/223(f) loan. Terms of the loan include a 6.47 percent fixed-interest rate at a 35-year amortization.
VERNON, CALIF. — Newport Beach, Calif.-based Master Development Corp. (MDC) has secured a tenant for it 113,500-square-foot single-user industrial facility, which is located at 4380 Ayers Ave. in Vernon. Clear Lam Packaging Inc. (Clear Lam) signed a 5-year lease for the property. Clean Lam’s thermoforming division is a provider of innovative, environmentally friendly thermoformed plastic packaging products for segments within the produce, bakery, deli and confectionary markets. The company plans to use the facility for its West Coast manufacturing and distribution purposes. Jeffrey Sanita, John McMillian and Tim Wallace of Cushman & Wakefield represented the lessor; Warren Noack, Kimberly Noack, Larry Much and Craig Summers of NAI Capital represented the lessee in the transaction.
CALABASAS, CALIF. — Malcolm Abrams LLC has purchased 26135 Mureau Road, an 18,371-square-foot office building in Calabasas. Located within Calabasas Commerce Center, the property sold for approximately $4 million. Told Partners represented the buyer; Robert Erickson and Marc Spellman of Lee & Associates represented the seller, Arden Realty Inc., in the transaction.
CASPER, WYO. — NorthMarq Capital LLC has arranged first mortgage financing of $3.4 million for Cotton Wood Estates I and II, a 79-unit multifamily complex located in Casper. Lori Sowa of NorthMarq’s Houston Regional office secured the loan for the borrower, Cottonwood Cedros LLC. Financing was based on a 10-year term with a 30-year amortization scheduled and provided by NorthMarq’s seller-servicer relationship with Freddie Mac.
GOODYEAR, ARIZ. — Denver-based JRFCo LLC recently acquired Palm Valley Village Center, a 30,560-square-foot shopping center in Goodyear. Located at the northwest corner of Litchfield Road and Indian School Road, the Wal-Mart Neighborhood Market-anchored property is 93-percent occupied by 13 tenants, including MidFirst Bank, Quiznos Sub and United Blood Services. Tempe, Ariz.-based SunCor Development Company sold the property for $10 million.
SAN MARCOS, CALIF. — Rancho Cucamonga, Calif.-based National Community Renaissance of California has acquired Buena Vista, an 89-unit multifamily community located at 405 Autumn Dr. in San Marcos. Los Angeles-based Autumn Meadows Associates LP sold the property for $8.99 million. The buyer plans to demolish the existing structures and redevelop the site into a 110-unit, mixed-use affordable housing project. Financing for the acquisition was provided by the city of San Diego. Allen Chitayat of Hendricks & Partners’ San Diego office represented both parties in the transaction.
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.