Wednesday, May 21, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Western

19145-Gramercy-Pl-Torrance-CA
AcquisitionsCaliforniaIndustrialWestern

Alpine Electronics Sells 108,186 SF Industrial Property in Torrance, California

by Amy Works

TORRANCE, CALIF. — Alpine Electronics of America has completed the sale of an 108,186-square-foot industrial investment property located at 19145 Gramercy Place in Torrance. IDI Logistics acquired the asset for $21.5 million. The buyer plans to refurbish the concrete tilt-up building, which is located on more than 5.5 acres of land, before placing the property on the market for lease. The building served as the seller’s American headquarters before its relocation to Auburn Hills, Mich. Alpine Electronics is an automotive electronics manufacturer that provides consumers and leading automakers with audio, video, navigation and driver assistance products. Todd Taugner, Frank Schulz III and David Prior of The Klabin Company/CORFAC International represented the seller and buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Villaggio-Di-Murano-Las-Vegas-NV
AcquisitionsMultifamilyNevadaWestern

Next Wave Investors Buys 88-Unit Villaggio Di Murano Multifamily Asset in Las Vegas

by Amy Works

LAS VEGAS — Next Wave Investors has acquired Villaggio Di Murano, an apartment community located at 9475 W. Tompkins Ave. in Las Vegas. A Southern California-based multifamily investment group sold the asset for $14.5 million in an off-market transaction. Built in 2005, Villaggio Di Murano features 88 units in a mix of one-, two- and three-bedroom floor plans. Community amenities include a business center, fitness center, swimming pool and spa/hot tub. Next Wave plans to implement a series of capital upgrades, including exterior paint and signage, new landscaping, interior unit enhancements and pool area improvements. Additionally, the new owner plans to add new community amenities including collaborative outdoor barbecue and gathering spaces.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaLoansRetailWestern

Ready Capital Closes $20.2M Refinancing for Retail Center in Santa Ana, California

by Amy Works

SANTA ANA, CALIF. — Ready Capital has closed a $20.2 million for a 60,000-square-foot Class B retail neighborhood center in Santa Ana. The non-recourse, floating-rate loan features a 24-month term, one extension option and flexible prepayment. Additionally, the loan includes a facility to provide future funding for capital expenditures and tenant leasing costs. The undisclosed sponsor will use loan proceeds to pay off existing debt while continuing to make cosmetic upgrades and leasing tenants at market rents.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNet LeaseNevadaRestaurantRetailWestern

Marcus & Millichap Brokers $3.8M Restaurant Property Sale in Las Vegas

by Amy Works

LAS VEGAS — Marcus & Millichap has arranged the sale of a restaurant asset located in Las Vegas. A private family trust acquired the asset from a private investor for $3.8 million. Todd Manning of Marcus & Millichap’s Las Vegas office represented the seller in the deal. IHOP occupies the 4,700-square-foot building, which is located at 9480 W. Sahara Ave., on a net-lease basis.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentHealthcareLoansTop StoriesWestern

Gantry Secures $703M Construction-to-Permanent Financing for VA Medical Office Portfolio

by John Nelson

SAN FRANCISCO — Gantry, an independent mortgage banking firm based in San Francisco, has secured $373 million in construction financing and $330 million in permanent financing for a six-property medical office building portfolio. The properties in the portfolio are Veterans Affairs (VA) medical clinics located in San Diego, Chula Vista and Redding, Calif.; New Port Richey, Fla.; and Tulsa, Okla. The sixth property is in an undisclosed, confidential location. George Mitsanas and Peter Hillakas of Gantry’s Los Angeles office arranged the construction-to-permanent financing on behalf of the undisclosed borrower through a pension fund. Mitsanas says the borrower was a first-time sponsor with Gantry. “We were engaged prior to the lease award for each of these assignments, and that allowed us to help assess the feasibility of each project and craft a financing structure, which resulted in our clients winning multiple lease awards from the federal government,” says Mitsanas. Gantry will service both the construction and permanent loans. Details of the financing were not disclosed, but Mitsanas says the permanent financing will mature in 22 years. According to local officials where the projects are located, the portfolio will generate several thousands of construction and permanent jobs once the facilities open in …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaOfficeWestern

Lincoln Property, Goldman Sachs Acquire 90,000 SF Creative Office Building in San Francisco

by Amy Works

SAN FRANCISCO — Lincoln Property Co., led by Lincoln’s LPC West team in San Francisco, has partnered with affiliates of the Goldman Sachs Merchant Banking Division to purchase 1045 Sansome Street, a four-story creative office building in San Francisco’s North Waterfront/Jackson Square neighborhood. Constructed in 1926, the nearly 90,000-square-foot building was originally home to a printing press before its conversion to creative office space. The property has undergone several improvements, including high ceilings on the ground level, a unique sawtooth glass roof, open floor plans, polished concrete floors and large windows throughout. At the time of sale, the building was 95 percent leased to a diverse mix of tenants in a variety of fields, including technology, architecture, nonprofit, business and media. Terms of the transaction were not released.

Continue Reading
FacebookTwitterLinkedinEmail
Canyon-Park-East-Bothell-WA
IndustrialLoansOfficeWashingtonWestern

CBRE Arranges $38.6M in Financing for Canyon Park East Business Campus in Washington

by Amy Works

BOTHELL, WASH. — CBRE Capital Markets’ Debt & Structured Finance group has secured $38 million in financing for Canyon Park East, a business campus in Bothell. CBRE arranged the financing for Kennedy Wilson Fund VI, which purchased the property in December 2019 for $54.6 million. The $38.6 million loan closed on Jan. 30 with financing from an East Coast-based bank. Brad Zampa, Mike Walker and Megan Woodring of CBRE arranged the six-year, non-recourse, floating-rate financing with full-term interest-only payments. The loan will finance a portion of the acquisition and provide funding for future capital expenditures and leasing costs. Tom Pehl and Lou Senini with CBRE Capital Markets in Seattle represented the undisclosed seller in the acquisition deal. Situated on 16.5 acres, Canyon Park East comprises five office, R&D and warehouse buildings offering a total of 269,369 square feet of rentable space. At the time of financing, the property was 83 percent occupied.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsColoradoIndustrialOfficeWestern

H.I.G. Realty Partners Provides $33.1M Acquisition Loan for Industrial/Office Portfolio in Denver

by Amy Works

DENVER — H.I.G. Realty Partners, an affiliate of H.I.G. Capital, has funded a $33.1 million loan for the acquisition of an industrial/flex office portfolio located in Denver. The borrower is CW Capital Partners. The three-building portfolio features 264,000 square feet of industrial and flex office space. At the time of acquisition, the portfolio was 80 percent occupied by a diverse group of tenants. The floating-rate, five-year loan allows for future advances for the lease-up of the portfolio over time.

Continue Reading
FacebookTwitterLinkedinEmail
Ready-Capital-Maryvale-Phoenix-AZ
ArizonaLoansMultifamilyWestern

Ready Capital Closes $17.2M Loan for Multifamily Property in Phoenix

by Amy Works

PHOENIX — Ready Capital has closed a $17.2 million, non-recourse, hybrid-rate loan that is pari passu, part fixed and part floating rate. The undisclosed sponsor used the financing for the acquisition, renovation, unit buyouts and stabilization of a 146-unit, Class B, fractured condominium property in Phoenix’s Maryvale submarket. The loan features a 60-month term, flexible prepayment and is inclusive of a facility to provide future funding for the capital expenditure and future unit purchases.

Continue Reading
FacebookTwitterLinkedinEmail
Cedar-Creek-Senior-Living-Madera-CA
AcquisitionsCaliforniaMultifamilySeniors HousingWestern

ESI Brokers Sale of Cedar Creek Senior Living in Madera, California

by Amy Works

MADERA, CALIF. — Evans Senior Investments (ESI) has arranged the sale of Cedar Creek Senior Living, a 112-unit independent living, assisted living and memory care community. The property is located in Madera, approximately 25 miles northwest of Fresno. Originally built in 2005, the community averaged 87.6 percent occupancy in the year leading up to the sale. ESI represented the seller, an independent owner. A California-based REIT acquired the property for an undisclosed price.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts