Western

X Company Receives $105.3M Construction Loan for 22-Story Residential Tower in Denver

by Amy Works December 9, 2020

DENVER — The X Company has received $105.3 million in construction financing for X Denver2 (XD2), a multifamily project in the Arapahoe Square neighborhood of downtown Denver. Eric Tupler, Christopher Peck and Josh Smith of JLL Capital Markets arranged the loan through CIM Group for the borrower. Located at the corner of 21st and Arapahoe streets, the 22-story XD2 will offer private residences and fully furnished co-living suites with individual bedrooms and bathrooms. Additionally, the property will feature more than 15,700 square feet of collaborative working space; a three-story members-only club offering a resort-style pool and deck; full-serve fitness center with daily classes; and entertainment lounge equipped with a bar. The project also borders the upcoming infrastructure updates that are transforming 21st and Wynkoop streets into an easily accessible walk-path, restricting vehicles on each street.

December 9, 2020

California Company News Retail Western

Online Clothing Retailer Stitch Fix Reports 10 Percent Revenue Growth to $490.4M

by Amy Works December 9, 2020

SAN FRANCISCO — Stitch Fix (NASDAQ: SFIX) has reported a net revenue of $490.4 million, an increase of 10 percent year-over-year, for the first quarter of fiscal year 2021, which ended Oct. 31. The online personal styling service reports that new clients have grown dramatically during the pandemic. The company has nearly 3.8 million active clients, an increase of 347,000, or 10 percent year-over-year, and 241,000 new clients quarter-over-quarter. The company reported a slight decrease of 4 percent year-over-year of net revenue per active client, which totals $467. “This quarter we are proud to have achieved several multi-year highs, including our highest sequential client addition on record,” says Katrina Lake, founder and CEO. According to the company’s shareholder letter, it aims to deliver between 20 percent and 25 percent growth for the full fiscal year. The company delivers clothing personalization services to clients through a combination of data science and human judgement. Since its founding in 2011, the company has helped millions of people discover and purchase apparel, shoes and accessories curated by Stitch Fix stylists and algorithms.

December 9, 2020

Acquisitions California Industrial Western

Colliers Negotiates $20.7M Sale of Industrial Warehouse Facility in Bay Area

by Amy Works December 9, 2020

HAYWARD, CALIF. — Colliers International has arranged the sale of a light industrial property located at 3340 Arden Road in Hayward. Roxborough Group sold the asset to Berkley Partners for $20.7 million. At the time of sale, the three-building, 102,122-square-foot facility was 87 percent occupied. Greig Lagomarsino and Nick Ousman of Colliers represented the seller and buyer in the transaction.

December 9, 2020

Acquisitions Multifamily Seniors Housing Utah Western

Blueprint Brokers Sale of 42-Unit Seniors Housing Community in Park City, Utah

by Amy Works December 9, 2020

PARK CITY, UTAH — Blueprint Healthcare Real Estate Advisors has brokered the sale of an undisclosed assisted living and memory care community in Park City, approximately 35 miles southeast of Salt Lake City. The community was built in 1999 and features 32 units of assisted living and 10 units of memory care. The Pacific Northwest-based owner sought to divest the asset as a geographical outlier in its portfolio. A local owner-operator bought the property for an undisclosed price, taking on the existing HUD loan as part of the deal.

December 9, 2020

Loans Multifamily Washington Western

Terrydale Capital Arranges $9.4M Loan for Multifamily Development in Tacoma, Washington

by Amy Works December 9, 2020

TACOMA, WASH. — Terrydale Capital has arranged a $9.4 million construction loan for the development of an 82-unit apartment building located in Tacoma. The borrower is a first-time ground-up investor. Culby Culbertson of Terrydale Capital’s Dallas office secured the loan, which features a 7.75 percent rate, interest-only structure for 18 months, 75 percent loan-to-cost ratio and no pre-payment penalty.

December 9, 2020

California Development Multifamily Western

MBK Rental Living Completes 330-Unit Artesa at Menifee Town Center Apartments in California

by Amy Works December 8, 2020

MENIFEE, CALIF. — MBK Rental Living, with R.D. Olson Construction as general contractor, has completed the development of Artesa at Menifee Town Center, a multifamily property located at 30414 Town Center Drive in the heart of a master-planned community in Menifee. The community was delivered in 10 phases and consists of 37 residential buildings, two clubhouses and a variety of amenities. The property features 330 units in a mix of one, two- and three-bedroom layouts, with a total of eight floor plans ranging from 820 square feet to 1,322 square feet. Units offer quartz countertops, smart thermostats, gourmet kitchens with prep islands, custom cabinetry, covered patios, wood-style flooring, in-home washers/dryers and stainless steel appliances. Additionally, all units have access to a private garage and select units have vaulted ceilings and direct garage access. Community amenities include a resort-style pool and spa, barbecue area, dog park, package lockers, Wi-Fi in common areas, a playground, large clubhouse with a full kitchen and sports television wall, and a mix of outdoor community spaces. The project team also included SummA Architecture, Gouvis Engineering, Alliance Land Planning and Sitescapes.

December 8, 2020

Acquisitions California Office Western

Realm Buys Melrose Plaza Office Campus in Vista, California

by Amy Works December 8, 2020

VISTA, CALIF. — Realm LP has purchased Melrose Plaza, a six-building office campus located at 500-550 W. Vista Way in Vista. Melrose Plaza Complex LP sold the asset for $7.5 million. At the time of sale, the 58,483-square-foot property was 98 percent leased. Jeff Abramson of Lee & Associates North San Diego County represented the buyer and seller in the deal.

December 8, 2020

Acquisitions California Multifamily Seniors Housing Western

JCH Negotiates $5.4M Sale of Seniors Housing Community in Southern California

by Amy Works December 8, 2020

RIVERSIDE COUNTY, CALIF. — JCH Senior Housing Investment Brokerage has arranged the sale of a seniors housing community featuring 64 skilled nursing beds and 49 assisted living beds in Riverside County, located east of Los Angeles. The facility was in escrow when COVID-19 hit with a first-time buyer that decided not to proceed. The seller, a family-owned owner-operator, eventually sold the property to a first-time buyer. The sales price was $5.4 million, or $84,375 per bed at a 9 percent capitalization rate. JCH also assisted the buyer in setting up a lease with a local assisted living operator looking to expand in the area.

December 8, 2020

Acquisitions Industrial Utah Western

GPR Ventures Enters Utah Market, Acquires 49,234 SF Warehouse in West Jordan

by Amy Works December 8, 2020

WEST JORDAN, UTAH — GPR Ventures has entered the Utah market with the purchase of an industrial warehouse property situated on 3.6 acres in West Jordan. Terms of the transaction were not released. BC Technical, a diagnostic imaging solutions and services provider, occupies the 48,234-square-foot facility, which features a 35,632-square-foot manufacturing and assembly area and a 13,602-square-foot office space. The property offers raised floors with an anti-static covering throughout the office space to accommodate extensive wiring and fiber optics that run underneath, heavy-duty capacity HVAC systems, multiple climate-controlled computer areas with independent HVAC systems, high-efficiency fluorescent lighting and a sprinkler system that covers the entire building.

December 8, 2020

Acquisitions Colorado Industrial Western

Newmark Brokers Sale of 14,492 SF Industrial Property in Golden, Colorado

by Amy Works December 8, 2020

GOLDEN, COLO. — Newmark has arranged the sale and subsequent lease of a 14,492-square-foot flex industrial building located at 16360 Table Mountain Parkway in Golden. Bespoke Holdings Co. acquired the property for an undisclosed price. The name of the seller was not released. Fix-It 24/7 is relocating its headquarters from Arvada to the building in Golden. The property features six drive-in bays, 22-foot to 32-foot clear heights, industrial-grade electrical power, radiant-heated warehouse and trucking area, five finished offices and a modern welcome mezzanine. Additionally, the property features abundant parking and mountain views. Tenant improvements will include four additional executive offices and a conference room with an oversized garage door wall. Mike Viehmann of Newmark represented the buyer and tenant in the transaction.

December 8, 2020

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