CARSON, CALIF. — New York-based Thor Equities Group has purchased a last-mile warehouse facility located at 2575 El Presidio in Carson. An undisclosed seller sold the asset in an off-market, sale-leaseback transaction. Marc Schillinger and Keith Rosso of JLL Capital Markets arranged $15.9 million in acquisition financing for the buyer. National Life Group provided the seven-year, fixed-rate, interest-only loan. Built in 1972 on six acres, the 196,300-square-foot building features 22-foot clear heights, nine loading positions, office and mezzanine space and ample parking. The seller/tenant fully occupies the property.
PORT ORCHARD, WASH. — Marcus & Millichap has arranged the sale Towne Square Retail Center, a retail property located at 1700 S.E. Mile Hill Drive in Port Orchard, approximately 24 miles west of Seattle. A private investor sold the asset to an undisclosed buyer for $9.4 million. Grocery Outlet, Goodwill and Ace Hardware are anchor tenants at the 154,604-square-foot retail property, which also includes a two-story interior mall space with more than 100 tenants. The buyer plans to renovate the asset, increase occupancy levels and improve management systems. Clayton Brown and Ruthanne Romero of Marcus & Millichap represented the seller in the deal.
ALBUQUERQUE, N.M. — Quantum Real Estate Advisors has arranged the sale of The Shoppes at Alameda, a retail property located at 3410 Highway 528 in Albuquerque. A Florida-based private real estate investor acquired the asset from a California-based private real estate investment firm for $6.6 million. At the time of sale, the property was 100 percent occupied. Current tenants include Jason’s Deli, Starbucks Coffee, The Joint, Baskin Robbins, uBreakiFix, Minerva Canna and other local retailers. Chad Firsel and Jason Lenhoff of Quantum represented the seller in the transaction.
BRISBANE, CALIF. — Phase 3 Real Estate Partners and Bain Capital Real Estate have received a more than $400 million construction loan for Genesis Marina, a waterfront life sciences campus in Brisbane. Located on 8.7 acres within South San Francisco’s life sciences cluster, Genesis Marina will offer 570,000 square feet of Class A life sciences space. Tim Wright, Todd Sugimoto and Daniel Pinkus of JLL Capital Market arranged the financing through Barings LLC for the borrower.
PORTLAND, ORE. — Cushman & Wakefield has secured a $55 million loan for Security Properties to refinance Heartline Apartments, an apartment community located at 1250 NW Kearney St. in Portland. Dave Karson, Keith Padien, Chris Moyer, Alex Lapidus and Emily Johansen of Cushman & Wakefield Equity, Debt & Structured Finance arranged the financing for the borrower. Constructed in 2018, the 15-story Heartline Apartments features 218 apartments, a full suite of amenities and a shared parking garage with 131 dedicated parking stalls.
TUCSON, ARIZ. — MedCraft Healthcare Real Estate and TMC HealthCare have partnered to develop an Ambulatory Surgery Center at TMC HealthCare’s Rincon campus located at 10360 Drexel Road in Tucson. The partnership selected Kraus-Anderson as contractor for the $8 million project. The 17,000-square-foot facility will provide additional medical and surgical services, as well as the ability for a 3,000-square-foot future expansion. Designed by Orcutt Winslow, the property will feature rooftop solar panels, low- and no-water use landscaping, a cool roof system to reduce heat island affects, trees to shade the building and glass, and the use of reclaimed water for irrigation. Completion is slated for spring 2022.
NORTH LAS VEGAS, NEV. — San Francisco-based Hamilton Zanze, in partnership with Cantor Fitzgerald Investors, has completed the disposition of Norterra Canyon, an apartment community located at 5005 Losee Road in North Las Vegas. Terms of the transaction were not released. Built in 2007, Norterra Canyon features 426 one-, two- and three-bedroom units averaging 1,076 square feet. Apartments feature granite countertops, Energy Star appliances, walk-in closets, patios or balconies, and washers and dryers. Community amenities include a resident lounge, business center, bocce ball court, two resort-style pools with cabanas, putting green and fitness center.
Merrill Commercial Real Estate Negotiates $18M Seniors Housing Portfolio Sale in Redding, California
REDDING, CALIF. — Merrill Commercial Real Estate has arranged the sale of a two-property portfolio made up of 151 units of assisted living and memory care in Redding. The properties went under contract pre-pandemic. Since that time, the occupancy dropped nearly 20 percent as a COVID outbreak in one of the locations took a toll. Despite this, the buyers stuck with the deal. A private equity group looking to expand in California acquired the properties from an independent owner-operator for $18 million. Tyler Merrill arranged the transaction.
LOS ANGELES — JLL Capital Markets has secured $42.5 million in refinancing for Wilshire West Medical Tower, a medical office building located in the Brentwood neighborhood of West Los Angeles. Marc Schillinger and Keith Rosso of JLL’s Capital Markets team represented the borrower, a private, Los Angeles-based medical office owner-operator, to secure the long-term, fixed-rate loan. Located at 11645 Wilshire Blvd., the property features 78,702 square feet of medical office space and is leased to a diverse mix of medical office tenants, including physicians, dental practices, plastic surgeons, medical testing and rehabilitation operators and aestheticians.
AURORA, COLO. — Watermark Residential, a wholly owned affiliate of Indianapolis-based Thompson Thrift, has completed the disposition of The Townhomes at Dayton Station, a leased townhome community in Aurora. RedPeak acquired the asset for $33.5 million. Located at 3899 S. Dallas St., the property features 12 three-story buildings offering a total of 63 townhomes for renters. Each private-entry townhome features a three- or four-bedroom layout, two-car garage, ample storage, gourmet bar-kitchens with quartz countertops, stainless steel appliances, walk-in closets, garden tubs and full-size washers/dryers.