SAN FRANCISCO — Michael Stoneman and Tai Dunson of iCap’s San Francisco office has arranged $3.9 million in financing for the acquisition of a multifamily property, which is located at 240 Cumberland St. in San Francisco’s Liberty Heights neighborhood. The property offers 23 one-bedroom units and seven studio units. The acquisition price of the property was $5.8 million or $193,000 per unit. The loan was priced at a 5.25 percent variable rate on a 12 MTA index using a 1.15x DSC ratio. The borrower and financer were not disclosed.
EL SEGUNDO, CALIF. — Los Angeles-based 2355 Utah Capital LLC has acquired a 41,617-square-foot industrial building in El Segundo for an undisclosed price. The property, which is located at 2355 Utah Ave., was 100 percent leased at the time of acquisition. The seller was Redlands, Calif.-based Copeland Properties. Sean O’Donnell and Jeff Smart of Grubb & Ellis’s LA South Bay office represented both parties in the transaction.
SOLANA BEACH, CALIF. — Pinnacle Solana LP, an affiliate of Pinnacle Hotels USA, has purchased a 34,840-square-foot property in Solana Beach for $3.4 million. Located at 647 N. Highway 101, a portion of the property is currently occupied by Parioli’s Italian Bistro; the balance is zoned for commercial use. Joseph Balla and Steve Bruce of Lee & Associates Carlsbad office represented both parties in the transaction. The seller was TMD LLC.
YUBA CITY, CALIF. — Matt Cologna, Bryce MacDonald and Kye Huff of Grubb & Ellis’ Sacramento, Calif., office represented the Sacramento-based Ahrens Family Trust in the disposition of a 16,000-square-foot industrial building in Yuba City. Yuba Sutter Gleaners Food Bank purchased the property for $1.1 million. The food bank is slated to occupy the property, which is located at 760 Stafford Way. Westside Realtor represented the buyer in the transaction.
HUNTINGTON BEACH, CALIF. — Unison, an electrical contracting company, has purchased a 6,030-square-foot industrial property for approximately $1.3 million in Huntington Beach. Located at 16632 Gemini Ln., the property offers excellent access to the 405 Freeway. Mike Barreiro of DAUM Commercial Real Estate Services represented the buyer; Fred Spitzkeit of Ashwill Associates represented the seller, Gothard Business Center LLC, in the transaction.
IRVINE, CALIF. — Lifted Research Group Inc., a men’s urban clothing company, has signed a 5-year lease for a 90,975-square-foot industrial property in Irvine. The property is located within the Irvine Spectrum at 9600 Toledo Way. The transaction was valued at $3.9 million. Michael Hartel and Kevin Turner of Voit Commercial Brokerage represented the lessor, CWV Commercial Properties, in the transaction; Ryan Harman of Lee & Associates represented the lessee.
LOS ANGELES — Los Angeles Unified School District (LAUSD) and WWCOT Architects have completed the Edward R. Roybal Learning Center in downtown Los Angeles. The $132.74 million, 25-acre campus includes 100,000 square feet of new construction, including a 500-seat classroom building, library, auditorium, music and drama classrooms and food services; and renovation of approximately 72,808 square feet of classrooms and 299,584 square feet of gym and parking space in the existing buildings, which were converted into six 500-seat academies. Additionally, the project included the demolition of two unfinished structures; implementation of an earthquake fault setback; integration of a complex between-slab methane ventilation system; the addition of outdoor courtyards and an adjacent 10-acre community park. The school can serve up to 2,800 students in grades 9-12.
LA VERNE, CALIF. — Combined Properties has completed the development of The Commons at La Verne in La Verne. Located at the intersection of Foothill Boulevard and Wheeler Avenue, the $29 million redevelopment project included a 20,000-square-foot expansion to the center. Anchor tenants of the revitalized 125,000-square-foot center include a state-of-the-art Vons Grocery Store and Fuel Station, Ross Dress For Less and Famous Footwear. The center is 94 percent leased. The grand opening is slated for later this month.
HAYWARD, CALIF. — A division of Mill Valley, Calif.-based Thompson|Dorfman Partners LLC has acquired Dorchester House, a 68-unit multifamily community located in Hayward, for $7.1 million. The community comprises four buildings offering one- and two-bedroom units and a central pool and courtyard. The buyer plans to rehabilitate the property. Nathan Blair, David Silver and Casey Davis of Arroyo & Coates represented the seller, Pleasanton, Calif.-based Seaview Financial, in the transaction; the buyer was represented in-house.
DENVER — The Denver regional office of NorthMarq Capital has arranged $6.54 million in permanent financing for Cheyenne Creek Apartments, which is located south of Denver. Built in 1995, the 87-unit complex features two four-story buildings with elevator access to all floors. The units feature 9-foot ceilings, patios/balconies, full-size washer/dyers, cable-ready TV and wood burning fireplaces. The community offers a clubhouse with fitness and business centers, an indoor pool and a hot tub. The borrower is Seattle-based Weidner Investment Services Inc. Greg Benjamin and Steve Mumford of NorthMarq Capital arranged the financing.