Western

Aegis Living, Blue Moon Capital Buy Seniors Housing Portfolio in Western US from Healthpeak for $350M

by John Nelson January 12, 2021

BELLEVUE, WASH. AND BOSTON — Aegis Living, a seniors housing owner and operator based in Bellevue, has acquired 10 properties from Healthpeak Properties Inc. (NYSE: PEAK). Aegis already operated the communities under a lease agreement with Healthpeak Properties, a Denver-based real estate investment trust (REIT). Aegis’ joint venture partner on the $350 million acquisition is Blue Moon Capital Partners LP, a Boston-based private equity investor in the seniors housing sector. The portfolio is located in Washington, California and Nevada, totaling 702 units of assisted living and memory care. The acquired communities include: • Aegis Living Callahan House (Shoreline, Wash.) • Aegis Living Shoreline (Shoreline, Wash.) • Aegis Living Kirkland (Kirkland, Wash.) • Aegis Living Las Vegas (Las Vegas) • Aegis Living Dana Point (Dana Point, Calif.) • Aegis Gardens Fremont (Fremont, Calif.) • Aegis Living Granada Hills (Granada Hills, Calif.) • Aegis Living San Francisco (San Francisco) • Aegis Living Pleasant Hill (Pleasant Hill, Calif.) • Aegis Living Ventura (Ventura, Calif.) The transaction is the largest in Aegis’ history. The acquisition is the next step in the company’s growth strategy, which includes doubling its ownership portfolio by 2030, according to Aegis’ founder and CEO Dwayne Clark. “At a time when …

January 12, 2021

Acquisitions Arizona Multifamily Western

Pathfinder Partners Divests of The Sterling Multifamily Community in Gilbert, Arizona for $30.9M

by Amy Works January 11, 2021

GILBERT, ARIZ. — San Diego-based Pathfinder Partners has completed the sale of The Sterling, an apartment property in Gilbert, approximately 23 miles southeast of downtown Phoenix. Casa Anita Apartments LLC acquired the asset for $30.9 million. Built in 2000 as condominiums, The Sterling, formerly known as The Vintage, is situated on 9.3 acres and includes 13 residential buildings consisting of six studio lofts, 21 one-bedroom/one-bath units, 40 two-bedroom/two-bath units and 40 three-bedroom/three-bath units, averaging 1,154 square feet. Pathfinder Partners originally acquired the property in 2017 and completed at $1.4 million renovation to the asset. Renovations included building repairs; installation of a dog park and package locker; upgrading the clubhouse, leasing office and pool area; and renovating more than half of the units. At the time of sale, The Sterling was 97 percent occupied. David Fogler of Cushman & Wakefield Multifamily Advisory Group brokered the transaction.

January 11, 2021

Acquisitions Arizona Office Western

YMC Arizona Properties Acquires Portico Place Office Property in Chandler, Arizona for $21.7M

by Amy Works January 11, 2021

CHANDLER, ARIZ. — YMC Arizona Properties, a private investment group based in Los Angeles, has purchased Portico Place I and II, a two-building office property located at 2121 and 2195 W. Chandler Blvd. in Chandler. Milwaukee-based Irgens sold the complex for $21.7 million. Situated in the South East Valley, Portico Place I and II offers 89,182 square feet of office space, with lease rates ranging from the high $20s to low $30s per square foot. Erik Marsh of Kidder Mathews represented the buyer in the deal.

January 11, 2021

Acquisitions Colorado Multifamily Western

AQYRE Negotiates $12.5M Sale of Baseline Village Apartments in Lafayette, Colorado

by Amy Works January 11, 2021

LAFAYETTE, COLO. — AQYRE Real Estate Advisors has facilitated the sale of Baseline Village Apartments in Lafayette. The property traded hands for $12.5 million, or $357,143 per unit. The names of the buyer and seller were not released. Matt Lewallen of AQYRE represented the buyer and seller in the deal. Located at 811-813 E. Baseline Road, the 47,236-square-foot Baseline Village features 35 apartments.

January 11, 2021

Acquisitions California Restaurant Retail Western

Progressive Real Estate Partners Brokers $1.6M Sale of Restaurant Property in Moreno Valley, California

by Amy Works January 11, 2021

MORENO VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a freestanding restaurant building located at 23040 Alessandra Blvd. in Moreno Valley. Carnitas al Estilo Michoacan acquired the property for $1.6 million. The recently remodeled restaurant is fully equipped and features an extra-large kitchen with two walk-in coolers, a spacious interior dining area, outdoor patio seating and a full bar. The buyer plans to open its second Inland Empire restaurant, which is known for its Michoacan-style carnitas and Mexican dishes, at the location this spring. Albert Lopez of Progressive Real Estate Partners handled the transaction.

January 11, 2021

Acquisitions California Industrial Western

SBC Investors Sells 8.2-Acre Industrial Site in South San Francisco to Prologis

by Amy Works January 11, 2021

SAN FRANCISCO — SBC Investors LLC has completed the sale of an 8.2-acre land site located at 200-212 Shaw Road, 214-218 Shaw Road and 1264-1272 San Mateo Ave. in San Francisco. Prologis acquired the property for an undisclosed price. The 8.2-acre site is adjacent to San Francisco International Airport and U.S. Route 101, connecting South San Francisco to the rest of the Bay Area. Additionally, the property is roughly four blocks from the BART San Bruno station and five blocks from the CalTrain San Bruno station. Darla Longo, Rebecca Perlmutter, Marshall Hydorn, David Black and Karl Hansen of CBRE represented the seller, while the buyer was self-represented in the deal.

January 11, 2021

Chandler-Corporate-Center-II-Chandler-AZ

Arizona Development Office Western

VanTrust Completes Construction of 118,000 SF Chandler Corporate Center II in Arizona

by Amy Works January 8, 2021

CHANDLER, ARIZ. — VanTrust Real Estate has completed the construction of Phase II at Chandler Corporate Center in Chandler. Situated on 12 acres at 4100 W. Chandler Blvd., the 118,000-square-foot speculative office building complements the property that was developed in the first phase. The first-phase building was leased to Allstate Insurance and subsequently sold to Strategic Office Partners in 2019. Designed by Butler Design Group of Phoenix, the building features a two-story glass entrance, 58,000-square-foot floor plates and an abundance of glass. Stevens-Leinweber Construction served as general contractor for the project, which Colliers International is marketing for lease.

January 8, 2021

Acquisitions Colorado Life Sciences Office Western

Tritower Financial Group Sells 151,384 SF Pfizer Life Sciences Campus in Boulder to Invesco Real Estate

by Amy Works January 8, 2021

BOULDER, COLO. — Tritower Financial Group has completed the disposition of 3200 Walnut, a four-building interconnected campus located at 1825, 1865, 1885 33rd St. and 3200 Walnut St. in Boulder. Invesco Real Estate acquired the asset for an undisclosed price. The tenant — formerly Array BioPharma, which Pfizer acquired in 2019 — has occupied the 151,384-square-foot campus for 19 years. John Jugl of Newmark represented the seller in the deal.

January 8, 2021

Acquisitions Arizona Healthcare Office Western

Meridian Buys 187,690 SF El Dorado Medical Plaza in Tucson

by Amy Works January 8, 2021

TUCSON, ARIZ. — Meridian, in partnership with an institutional investor, has acquired El Dorado Medical Plaza for an undisclosed price. Located at 1400 N. Wilmot Road, the three-story property features 187,690 square feet of Class B medical office space, plus surgery and hospital services. Meridian plans to implement a renovation program for the property, with completion slated for the end of 2021. Ben Tashakorian, David Benjamin, Trent Carvolth, Bradley Peters and Kelly O’Dea of Marcus & Millichap represented the seller, Houston-based Clarion Properties. Meridian was self-represented in the deal.

January 8, 2021

Acquisitions Colorado Retail Western

Dunton Commercial Acquires Belmont Square Retail Center in Colorado for $6M

by Amy Works January 8, 2021

PUEBLO, COLO. — Greenwood Village-based Dunton Commercial has purchased Belmont Square, a grocery-anchored shopping center located in Pueblo, approximately 110 miles south of Denver. Belmont Squared LLC sold the asset for $6 million. Situated on 11 acres at the corner of Bonforte Boulevard and Constitution Road, Belmont Square features 89,619 square feet of retail space. Built in the 1950s, the property underwent renovations in 2011. At the time of sale, the asset was 76 percent occupied. Tenants include a grocery store and a variety of national and local retailers and services. Jon Hendrickson, Mitch Veremeychik and Aaron Johnson of Cushman & Wakefield’s Capital Markets team in Denver represented the seller in the transaction.

January 8, 2021

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