SACRAMENTO, CALIF. — InterContinental Hotels Group (IHG) has opened the Staybridge Suites Sacramento Natomas, a 117-room extended-stay hotel located at 140 Promenade Circle in Sacramento. The all-suite hotel features three suite options – deluxe studio, one-bedroom and two-bedroom/two-bath. All suites include functional, well-lit workstations with ergonomic seating, complimentary high-speed Internet access, complimentary local phone calls, and two-line speakerphones with direct-dial number and personal voice mail, as well as fully equipped kitchens. The hotel is owned by Heritage Inn of Sacramento Inc. and managed by Tharaldson Property Management, under a license agreement with a company in the IHG.
Western
FREMONT, CALIF. — BRIDGE Housing Corp. has developed Irvington Terrace, a 100-unit apartment community located at 4109 Broadmoor Common in Fremont. The property features 100 affordable apartment homes for families earning 30 and 50 percent of the area median income. Rents for the one-, two- and three-bedroom apartments range from $429 to $910 per month, depending on income and apartment size. The property also features two landscaped courtyards, children’s play areas, a community room and laundry facilities. Financing for Irvington Terrace was provided by the city of Fremont, Redevelopment Agency of the city of Fremont, California Department of Housing and Community Development, Housing Authority of the county of Alameda, Wells Fargo Bank, MMA Financial and California Community Reinvestment Corp. McLarand Vasquez Emsiek & Partners provided architectural services for the project; L&D Construction served as general contractor.
ANAHEIM, CALIF. — Mike Hefner of Voit Commercial Brokerage represented the buyer, a private investor, in the acquisition of a 21,230-square-foot industrial building, which is located at 1265 N. Patt St. within North Anaheim Industrial Park in Anaheim. North Anaheim Association sold the property for $3.75 million. Jim DeRegt and Brad Gilmer of Lee & Associates represented the seller in the transaction.
SUSANVILLE, CALIF. — Phillips Edison & Co. has acquired Lassen Shopping Center in Susanville. Dollar Tree and Lassen Career Network anchor the 79,187-square-foot center. The seller and the acquisition price were not disclosed.
SANTA ANA, CALIF. — Meridian Value Partners has acquired The Arbors, a 50,812-square-foot office complex located at 2101 E. Fourth St. in Santa Ana, for $9.3 million. The two-story, multi-tenant complex sold at a cap rate of 6.18 percent. Ryan Gallagher of Grubb & Ellis represented the buyer; Greenwood & McKenzie represented the seller, Arbors Tenant in Common Group, in the transaction.
SAN DIEGO — API, as QI for SRP Annex LLC of Auburn, Calif., has purchased City Villas I & II, a 70-unit multifamily community located at 837 and 845 16th St. in San Diego. Solana Beach, Calif.-based CVLP-JUDD; JUDD CV APT LLC sold the property for $9.4 million. Steve Huffman and David Andrews of Hendricks & Partners’ San Diego office represented both parties in the transaction.
LAKEWOOD, CALIF. — Cushman & Wakefield of Colorado has completed the sale of Colfax Central, a 14,192-square-foot retail building located at the northwest corner of Colfax and Wadsworth in Lakewood. Developed in 2005 by Land on Landon Enterprises, the property was purchased by two undisclosed California investors for approximately $7 million or $498.52 per square foot. The center is 100 percent leased to tenants, including Panda Express, Starbucks Coffee, Qdoba Mexican Grill and Heidi’s Deli.
PROVO, UTAH — CB Richard Ellis|Melody has placed $40.3 million in permanent financing for a three-property apartment portfolio in Provo. The student-housing portfolio features 346 units with 2,076 beds, and 160 conventional units. Properties include Raintree Commons, Lodges at Glenwood and Cambridge Court. Ray Walker of CBRE|Melody’s Salt Lake City office secured the financing.
SANTEE, CALIF. — San Diego-based Pacific Realty Advisors has acquired a two-building industrial complex, which is located at 8745-8747 N. Magnolia Ave. in Santee, for $5.34 million. The 48,137-square-foot property is 100 percent leased to tenants, including National Spring, American Sheet Metal and Formica. James Renner of Inland Pacific Commercial Properties represented both Highway 67 LP, as well as the seller, Sciarrino Family Trust, in the transaction.
TUCSON, ARIZ. — Los Angeles-based Moise Hendeles has purchased Wilmot Vista, a 197-unit apartment community located at 3225 S. Wilmot Rd. in Tucson. Los Angeles-based Grant Cardone sold the property for $8.65 million. Art Wadlund of Hendricks & Partners’ Tucson office represented the seller in the transaction.