Western

JLL Arranges Construction Financing for Alamo Manhattan’s Block 40 Multifamily Project in Portland

by Amy Works April 28, 2020

PORTLAND, ORE. — JLL Capital Markets has secured construction financing on behalf of Alamo Manhattan for the development of Block 40, a multifamily property in Portland’s South Waterfront neighborhood. Situated on a 1.6-acre site at 3838 S.W. Macadam Ave., Block 40 will consist of a seven- and eight-story, podium-style building offering 232 apartments. Units will be a mix of studio, one- and two-bedroom layouts averaging 724 square feet. The property will also feature 6,500 square feet of ground-floor retail space and 174 parking spaces. Community amenities will include a rooftop terrace with firepit, seating areas and televisions; courtyard with water fountain, fire pit, grilling area and seating areas; fitness center with Technogym; and a dog wash and dog park. Completion is slated for late 2021. Matt Benson and Charlie Watson of JLL Capital Markets arranged the financing for the developer, Alamo Manhattan. The financing amount was not released.

April 28, 2020

Loans Multifamily Washington Western

Thayer Manca Receives $26.8M Refinancing for Callen Apartments in Washington

by Amy Works April 28, 2020

LACEY, WASH. — Seattle-based Thayer Manca Residential (TMR) has closed on a $26.8 million Fannie Mae refinancing for Callen Apartments in Lacey. The 10-year loan includes full-term, interest-only debt service and a fixed rate of 2.99 percent. Through a sponsored partnership, TMR acquired the 189-unit Callen Apartments in February 2018 and has since implemented the majority of a comprehensive, $3.7 million, value-add renovation. Designed to reposition the property, the upgrades include a renovated clubhouse, modern 24-hour fitness center, various amenity additions and apartment interior renovations.

April 28, 2020

Acquisitions California Office Western

Voit Real Estate Brokers $14.5M Sale-Leaseback of Office Property in San Diego

by Amy Works April 28, 2020

SAN DIEGO — Voit Real Estate Services Private Client Group has arranged the sale of a two-building office asset located in San Diego’s City Center neighborhood. San Diego State University Research Foundation sold the property to Casey Brown Cos. for $14.5 million. The off-market transaction was structured as a sale-leaseback, through which the seller signed a five-year lease with one five-year extension option. Kipp Gstettenbauer and Ryan King of Voit represented the sellers. Voit Real Estate Services also represented the buyer in the deal. The property includes two of the largest office buildings on El Cajon Boulevard and a four-story, 149-stall parking structure.

April 28, 2020

Acquisitions California Industrial Lee & Associates Western

Westcore Enters Temecula Market with 65,625 SF Industrial Warehouse Acquisition

by Amy Works April 28, 2020

TEMECULA, CALIF. — Westcore, an industrial real estate acquisition, development and asset management firm, has entered the Temecula market with the purchase of an industrial warehouse located at 27731 Diaz Road. An undisclosed private investor sold the property for $10.8 million. Situated on 10.6 acres, the currently vacant property features 65,625 square feet of space. The facility offers 14 dock-high doors, 30-foot clear heights, cross-dock configuration and a large decomposed granite secured yard. Brad Yates and Stefan Pastor of Colliers International represented Westcore, while Barret Woods of Lee & Associates represented the seller in the transaction.

April 28, 2020

Acquisitions Colorado Multifamily Western

AQYRE Real Estate Advisors Negotiates $2.6M Sale of Multifamily Building in Denver

by Amy Works April 28, 2020

DENVER — AQYRE Real Estate Advisors has arranged the sale of an apartment building located at 1325 Madison St. in Denver. An undisclosed buyer acquired the property for $2.6 million, or $216,250 per unit. The 12-unit property features 11 one-bedroom/one-bath and one studio apartment. Matt Lewallen and Kevin Calame of AQYRE represented the buyer and undisclosed seller in the transaction.

April 28, 2020

Acquisitions California Retail Western

The Passman Group Arranges Sale of Three-Parcel Land Site in Los Angeles

by Amy Works April 27, 2020

LOS ANGELES — The Passman Group has brokered the sale of a three-parcel land assemblage, located at 2107-2121 Westwood Blvd. in Los Angeles. A private investor acquired the asset for an undisclosed price. The property consists of multiple buildings across three parcels that are approximately 27,000 square feet. With close to 200 feet of frontage, the property was previously home to the iconic Wally’s Wine & Spirits for more than 30 years. David Passman, Michael Navi and Marc Pakravan of The Passman Group represented the undisclosed seller in the transaction. Richard Drapkin advised the seller.

April 27, 2020

Acquisitions California Multifamily Western

Matthews Real Estate Negotiates $9.7M Sale of Apartment Building in Los Angeles

by Amy Works April 27, 2020

LOS ANGELES — El Segundo, Calif.-based Matthews Real Estate Investment Services has arranged the sale of a residential property located at 12626 Matteson Ave. in Los Angeles. An undisclosed buyer acquired the asset for $9.7 million. The name of the seller was not released. Built in 1988 in Los Angeles’ Westside neighborhood, the building features 20 units in a mix of two-bedroom and four-bedroom apartments with lofts. Kyle Mirrafati of Matthews Real Estate represented the buyer and seller in the deal.

April 27, 2020

Acquisitions California Industrial Western

First Industrial Buys Warehouse, Manufacturing Asset in Fremont for $9.1M

by Amy Works April 27, 2020

FREMONT, CALIF. — First Industrial has acquired a light industrial warehouse and manufacturing facility in Fremont. An undisclosed seller sold the property for $9.1 million. The 38,692-square-foot property is located at 4160-4170 Business Center Drive. The asset was built to accommodate a variety of uses from manufacturing to last-mile delivery services. Joe Yamin of Colliers represented the seller, while Century 21 represented the buyer in the transaction.

April 27, 2020

Acquisitions California Industrial Lee & Associates Western

Avison Young Brokers $5.5M Sale of 32,000 SF Industrial Asset in Whittier, California

by Amy Works April 27, 2020

WHITTIER, CALIF. — Avison Young has arranged the sale of an industrial building located at 8155 Byron Road in Whittier. The undisclosed seller sold the asset to a private buyer for $5.5 million. Built in 1974 on 1.5 acres, the 32,000-square-foot property includes 3,000 square feet of office space, 16 parking spaces, two roll-up doors and 20-foot to 22-foot clear heights. The seller is a company that manufactured racking systems for the grocery industry and vacated the property prior to escrow. The buyer intends to use the building for its business. Chris Maling, David Mailing and Paul Clark of Avison Young represented the seller, while Lee & Associates represented the buyer in the deal.

April 27, 2020

California Development Retail Western

Organic Roots Grocery Store Opens at McKinley Crossroads in Corona, California

by Amy Works April 27, 2020

CORONA, CALIF. — Organic Roots, a family-owned organic and natural food store, has opened a its location at McKinley Crossroads. ShopOne Centers REIT owns the property, located in Corona. This is the retailer’s second store, joining its existing location in Temecula. Organic Roots offers local, organic products, all-natural foods, health and body care products, and supplements. Additionally, the store features a wide selection of foods for specialized diets, including vegan, vegetarian, gluten free, low sugar, paleo and keto. Organic Roots will be open to seven days a week from 9 a.m. to 7 p.m. and will offer senior citizen shopping hours and curbside pickup for the duration of the coronavirus pandemic.

April 27, 2020

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