Western

Greystar Completes 13-Story The Pullman Apartment, Retail Community in Denver

by Amy Works August 28, 2020

DENVER — Greystar, as owner and operator, has completed the construction of The Pullman, an apartment and retail community located at 1959 Wewatta St. in Denver’s Union State neighborhood. Designed by The Mulhern Group, the 13-story property features 168 apartments in a mix of one-, two- and three-bedroom layouts plus two-story penthouses. Units range from 819 square feet to 3,784 square feet and offer KitchenAid gas cooktops, quartz countertops, engineered hardwood flooring and custom wood cabinetry. Penthouses suites include in-wall fireplaces, secondary butler’s entrances, full-body showers and Wolf and Subzero appliances. Community amenities include a hotel-style lobby, 8,000-square-foot rooftop and spa terrace, outdoor kitchen and dining area, fitness center and yoga studio, billiards lounge with wet bar, pet spa, bicycle storage, demonstration kitchen, members-only club room, and a coffee and tea bar. The property also features 3,500 square feet of ground-floor retail space, plus above- and below-ground structured parking for 212 vehicles.

August 28, 2020

Acquisitions California Data Centers Industrial Office Western

CBRE Brokers $41.5M Sale of Two Industrial Ground Leases in San Diego’s Sorrento Mesa

by Amy Works August 28, 2020

SAN DIEGO — CBRE has arranged the sale of two ground leases covering three land parcels totaling 12.5 acres in San Diego’s Sorrento Mesa neighborhood. A private investor acquired the assets from San Francisco-based Stockbridge Capital Group for $41.5 million. Louay Alsadek, Hunter Rowe and Madison Mawby of CBRE represented the seller, while Bob Safai of Madison Properties represented the buyer in the transaction. Totaling 76,000-square-feet, the first parcel is under South Rim Business Park, a three-building flex office campus located at 5744, 5754 and 5764 Pacific Center Blvd. The second parcel is under two data center buildings totaling 115,000 square feet located at 5732 and 5738 Pacific Center Blvd., while the third parcel is a 0.85-acre open space adjacent to the two other properties.

August 28, 2020

California Loans Multifamily Western

NorthMarq Secures $51.5M Loan for Vanoni Ranch Multifamily Property in Ventura, California

by Amy Works August 28, 2020

VENTURA, CALIF. — NorthMarq has arranged $51.5 million in permanent debt to refinance Vanoni Ranch Apartments in Ventura. Dennis Williams, Tom Wright, Jackie Goldsmith and Soraya Rios of NorthMarq secured the financing for the sponsor, San Mateo, Calif.-based JB Matteson. The firm arranged the non-recourse financing through a correspondent life insurance company. The 10-year term is structured with interest-only debt service payments for the full term. Vanoni Ranch Apartments features 316 units with nine-foot ceilings, in-unit washers/dryers, smart thermostats, Roman bathtubs and walk-in closets. Community amenities include a fitness center, yoga room, barbecue and picnic area, pool, spa, business center and lounge.

August 28, 2020

Loans Multifamily Oregon Western

Gantry Arranges $20M Refinancing for Lodges at Lake Salish Apartments in Oregon

by Amy Works August 28, 2020

FAIRVIEW, ORE. — Gantry has secured $20 million in financing for Lodges at Lake Salish Apartments, a multifamily community located at 20699 NE Glisan St. in Fairview. Blake Hering, Matt Illias and Heather Kegler of Gantry arranged the Freddie Mac loan to refinance an existing loan that was coming due. The new loan was structured as a 10-year, full-term interest-only payment deal. Constructed in 2004, the 18-building community features 203 apartments in a mix of one- and two-bedroom layouts, averaging 966 square feet in size. Community amenities include a clubhouse with leasing offices, lounge, movie theater, fitness center, outdoor pool, spa, lake views and nature paths.

August 28, 2020

Loans Multifamily Seniors Housing Washington Western

M&T Realty Capital Corp. Provides $13.8M in Financing for Assisted Living Facility in Spokane, Washington

by Amy Works August 28, 2020

SPOKANE, WASH. — M&T Realty Capital Corp. has funded a $13.8 million FHA-insured loan to refinance of a 212-unit assisted living property located in Spokane. The asset was originally built in 1940, with additions in the late 1940s and early 1980s, along with renovations in the 2000s. The borrower, a regional owner-operator, acquired the property in 2018. M&T also provided the original bridge loan that is being refinanced, which took into account planned improvements in operations and $500,000 of capital expenditures at the property.

August 28, 2020

Acquisitions California Healthcare Top Stories Western

Verity Health System Completes Sale of Six Hospitals as Part of Bankruptcy Process

by Katie Sloan August 28, 2020

REDWOOD CITY, CALIF. — Verity Health System has completed the sale of its six-property hospital portfolio as part of the company’s Chapter 11 bankruptcy procedures. The Redwood City-based nonprofit healthcare company filed for bankruptcy protection in summer 2018 and subsequently worked to sell off its portfolio of assets, which included six medical centers offering 1,650 inpatient beds, six active emergency rooms, a trauma center and a host of spaces centered on medical specialties including tertiary and quaternary care. Most recently, Verity Health completed the sale of St. Francis Medical Center, a 384-bed hospital in the Los Angeles County suburb of Lynwood, for $350 million to Prime Healthcare. The provider also sold Seton Medical Center, a 357-bed hospital located in the San Francisco suburb of Daly City, and Seton Coastside, a 116-bed hospital located in Moss Beach, Calif., for $40 million to AHMC Healthcare. The agreement to sell St. Francis Medical Center was announced in April of this year. Also in April, Verity agreed to sell St. Vincent Medical Center, a 381-bed hospital located in Los Angeles, for $135 million to surgeon and medical researcher Dr. Patrick Soon-Shiong. Santa Clara County was the buyer in Verity’s first two asset sales — O’Connor Hospital and St. …

August 28, 2020

Acquisitions California Multifamily Western

Matthews Negotiates $26.4M Purchase of Mountain View Manor Apartments in Los Angeles

by Amy Works August 27, 2020

LOS ANGELES — Matthews Real Estate Investment Services has brokered the acquisition of Mountain View Manor Apartments, located at 21700-34 Septo St. in the Chatsworth neighborhood of Los Angeles. Sussex Capital Group purchased the property from a private family for $26.4 million. Built in 1977, Mountain View Apartments features 97 units in a mix of one- and two-bedroom layouts. The gated community features four swimming pools, a hot tub, barbecue area, laundry facilities and assigned parking. John Boyett and Daniel Withers of Matthews Real Estate Investment Services represented the buyer, while Keller Williams represented the seller in the transaction.

August 27, 2020

Development Multifamily Student Housing Washington Western

Aspen Heights Breaks Ground on 752-Bed Student Housing Community Near Washington State University

by Amy Works August 27, 2020

PULLMAN, WASH. — Aspen Heights Partners has broken ground on Aspen Heights Pullman, a 752-bed, cottage-style student housing community for students attending Washington State University. The property will offer a mix of two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities will include a community building, hot tub, fitness center and an on-site shuttle to campus. The development is scheduled for completion in fall 2021.

August 27, 2020

Acquisitions Colorado Office Western

Quiver Investments Arranges $12M Acquisition of Viewpoint Office Property in Littleton, Colorado

by Amy Works August 27, 2020

LITTLETON, COLO. — Denver-based Quiver Investments has arranged the purchase of Viewpoint I & II, a two-building office property located in Littleton. Pantheon Viewpoint LLC acquired the asset from IBC Denver VII for $12 million. Located at 7901-7921 Southpark Plaza, the 93,069-square-foot property was 72 percent occupied at closing. The buyer plans to continue reinvestments that are currently underway in the building resulting in increased energy efficiency, HVAC optimization and improved common areas. John Witt and Ben Swanson of Quiver Investments represented the buyer, while Riki Hashimoto of Newmark Knight Frank represented the seller in the deal.

August 27, 2020

Acquisitions Healthcare Office Utah Western

CBRE Brokers Sale of 108,456 SF Medical Office Building in Metro Salt Lake City

by Amy Works August 27, 2020

WEST VALLEY CITY, UTAH — CBRE has facilitated the sale of 4100 Bangerter, a medical office building located in West Valley City, a suburb of Salt Lake City. Terms of the transaction, including the names of the buyer and seller and acquisition price, were not released. Located on 7.1 acres at the intersection of 4100 South and Bangerter Highway, the building features 108,456 square feet of space. The buyer plans to convert the property, which was vacant at the time of sale, into a series of condominiums equipped for medical, lab and office space. Marty Plunkett, Vickey Walker, Craig Thomas and Melissa McIntyre of CBRE’s Salt Lake City office represented the seller in the transaction.

August 27, 2020

Newer Posts

Older Posts