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Pellisier-Logistics-Center-Colton-CA
AcquisitionsCaliforniaIndustrialLoansNet LeaseWestern

JLL Arranges $23.7M Acquisition Loan for Pellisier Logistics Center in Colton, California

by Amy Works

COLTON, CALIF. — JLL Capital Markets has secured $23.7 million in acquisition financing for Pellisier Logistics Center, an industrial warehouse and distribution property located at 1901 W. Center St. in Colton. Marc Schillinger, Keith Rosso and Eric Boucher of JLL’s Debt & Structured Finance group in Century City, Calif., placed the two-year, fixed-rate loan with Thorofare Capital for the borrower, a privately owned apparel manufacturer. Loan proceeds were used to purchase the asset immediately upon completion by developer Hillwood Investment Properties, a Perot Co. The property was 100 percent leased simultaneously with closing for an initial lease term of 10 years, excluding two five-year extensions options at a fair-market, triple-net rate. Situated on 12.5 acres, the newly constructed, 232,588-square-foot Pellisier Logistics Center features 36- to 42-foot clear heights, 24 dock-high doors, 168 trailer parking spaces and 219 auto parking spaces.

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AcquisitionsAffordable HousingCompany NewsIdahoMultifamilyWestern

Berkadia Acquires LIHTC Advisors, Expands Affordable Housing Presence

by Amy Works

BOISE, IDAHO — New York-based Berkadia has acquired LIHTC Advisors, a Boise-based brokerage firm that serves apartment investors with a focus on affordable housing. Jeff Irish and Brandon Grisham, formerly principals of LIHTC Advisors, will lead the new team in Boise. Prior to the merger, Irish and Grisham were involved in the sale of more than $2 billion of affordable housing assets throughout the country. In 2019, Irish and Grisham closed 53 transactions and are expected to exceed that this year. The addition of LIHTC Advisors will broaden Berkadia Affordable’s market presence and support long-term strategic growth under the leadership of David Leopold, senior vice president and head of Berkadia Affordable. “This is a huge step forward in Berkadia’s goal of expanding our affordable housing team, another investment in this critical space,” says Berkadia CEO Justin Wheeler. In 2019, Berkadia’s loan origination volume was $27 billion, while its investment sales platform totaled $9 billion.

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12220-E-Riggs-Rd-Chandler-AZ
AcquisitionsArizonaIndustrialNAISelf-StorageWestern

NAI Horizon Negotiates $8.3M Sale of American Self Storage & Mail Center in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — NAI Horizon has arranged the sale of American Self Storage & Mail Center located at 12220 E. Riggs Road in Chandler. Lawhead Family LLC sold the property to Vault at Riggs Road LLC for $8.3 million. Denise Nunez and Victoria Filice of NAI Horizon represented the seller and secured the buyer in the deal.

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8415-216th-St-SE-Woodinville-WA
IndustrialLoansWashingtonWestern

Gantry Secures $5.6M Refinancing for Industrial Property in Suburban Seattle

by Amy Works

WOODINVILLE, WASH. — Gantry has arranged a $5.6 million loan for Underwood Gartland 216 LLC. The funds will refinanc debt on UG216, an industrial property in Woodinville. Michael Wood and Colin Ceithaml of Gantry represented the borrower and secured the loan with a 10-year term and 30-year amortization through State Farm. Bio-Rad Laboratories, a life sciences research and clinical diagnostic products company, occupies the 71,750-square-foot building, which is located at 8415 216th St. SE. Built in 1999, the facility features 20 dock-high doors, four grade-level doors and 24-foot clear heights.

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660-J-St-Sacramento-CA
CaliforniaDevelopmentOfficeRetailWestern

RevOZ, Argosy Plan Redevelopment of 127,000 SF Office Building in Sacramento

by Amy Works

SACRAMENTO — RevOZ Capital has formed a joint venture with Argosy Real Estate Partners to purchase a 127,000-square-foot office property located at 660 J St. in downtown Sacramento. SG Downtown LLC, an affiliate of the Sacramento Kings ownership group, sold the building for an undisclosed price. The joint venture plans to rehabilitate and re-image the four-story building into a mix of office and retail space to complement the recently completed Downtown Commons (DoCo) sports and entertainment district. Renovation plans include redesigning the building to LEED-certification standards, re-skinning the building’s exterior, recreating a lobby, adding on-site amenities, creating new outdoor space, updating restrooms and modernizing building systems. LPA is serving as architect and Cushman & Wakefield will market the property upon completion in late 2021.

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Access-Park-Kaysville-UT
AcquisitionsIndustrialUtahWestern

LPC Enters Utah Market with Purchase of 212,950 SF Access Park Industrial Portfolio

by Amy Works

KAYSVILLE, UTAH — Lincoln Property Co. (LPC) has acquired Access Park, an industrial campus in Kaysville and the company’s first acquisition in Utah. Access Park LLC sold the property for an undisclosed price. Located at 505 N. Kays Drive within Kaysville Business Park, Access Park features a total of 212,950 square feet of Class A industrial space spread across three fully occupied buildings. The park includes two newly built, 69,101-square-foot distribution buildings and one 74,784-square-foot industrial and manufacturing building. The facilities offer clear heights ranging from 22 feet to 32 feet and a total of 74 dock-high and ground-level doors. LPC Desert West will manage Access Park as part of its more than 7 million-square-foot regional management portfolio. Kip Paul, Rhett Bue and Jorgi Paul of Cushman & Wakefield represented the seller in the transaction.

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The-Plaza-Punchbowl-Honolulu-HI
HawaiiLoansMultifamilySeniors HousingWestern

Lancaster Pollard Provides $33M Fannie Mae Refinancing for Seniors Housing Asset in Honolulu

by Amy Works

HONOLULU — Lancaster Pollard Mortgage Co. has provided a $33 million refinancing for The Plaza at Punchbowl, a seniors housing community in Honolulu. Built in 2003 and renovated in 2017, The Plaza at Punchbowl is a Class A facility that features 68 independent living units, 20 assisted living units and 20 memory care units. It is one of six seniors housing communities that The Plaza Assisted Living operates in Hawaii. The borrower is MW Group. The Fannie Mae loan features a 10-year term and five years of interest-only payments. The Plaza at Punchbowl is located on the slopes of Punchbowl Crater, an extinct volcanic tuff cone located in the heart of the city. The Punchbowl Crater is known for being home to the National Memorial Cemetery of the Pacific, a U.S. armed services memorial that draws millions of visitors each year.

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Spring-Mountain-Corning-CA
AcquisitionsCaliforniaMultifamilyWestern

TMG Negotiates $14.4M Sale of Spring Mountain Apartment Complex in Corning, California

by Amy Works

CORNING, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Spring Mountain, a multifamily property located at 240 Edith Ave. in Corning. A Southern California-based private investment group sold the asset to an undisclosed buyer for $14.4 million. Alex Mogharebi and Otto Ozen of TMG represented the seller in the deal. Built in 1986, Spring Mountain features 184 apartments spread across 15 buildings, totaling 174,972 square feet of rentable space. The property offers a resort-style swimming pool, clubhouse with a full kitchen, outdoor barbecue and entertainment area, leasing center, business center, fitness center, and mix of covered and surface parking.

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5601-Bickett-St-Vernon-CA
AcquisitionsCaliforniaIndustrialWestern

Sustainable Bag Producer Buys 47,744 SF Warehouse Near Los Angeles for $13.7M

by Amy Works

VERNON, CALIF. — Crown Poly, a Southern California-based producer of sustainable bagging solutions, has purchased a warehouse building in Vernon, a suburb five miles south of Los Angeles. Katie K, a private manufacturer of apparel, sold the facility for $13.7 million. Located at 5601 Bickett St., the 47,744-square-foot, single-tenant property features 26-foot clear heights, five exterior docks, two drive-in doors and 9,000 square feet of office space. The property was constructed in 2002. Kevin Kim of Coldwell Banker Commercial JM Properties represented the seller in the transaction.

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AcquisitionsColoradoMultifamilyWestern

Mountain View Capital Acquires Volta at Voyager Apartment Community in Colorado Springs for $52.6M

by Kristin Harlow

COLORADO SPRINGS, COLO. — Mountain View Capital has acquired Volta at Voyager in Colorado Springs for $52.6 million. The 200-unit apartment community includes a dog park and spa, pool, clubhouse and fitness center. Units range in size from 696 to 1,300 square feet. Mack Nelson and Christopher White of JLL represented the seller, BY Development. Josh Simon and Kristian Lichtenfels of JLL arranged $37.5 million in acquisition financing on behalf of the buyer. A national insurance company provided the four-year loan, which features a 3.25 percent interest rate.

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