Western

MCA Realty Purchases Industrial Property in San Diego County for $5.9M

by Amy Works December 7, 2018

ESCONDIDO, CALIF. — MCA Realty has entered the North San Diego submarket with the acquisition of a multi-tenant industrial property in Escondido. A private investor sold the property for $5.9 million. Located at 2750 Auto Park Way, the two-building asset features 40,990 square feet of industrial space spread across 13 suites. MCA Realty plans to renovate the existing vacant space, as well as update individual suites as leases expire. Additionally, the buyer plans to upgrade the exterior and increase identity signage. Tucker Hohenstein and Conor Boyle of Colliers International represented the buyer, while the seller was self-represented in the deal.

December 7, 2018

Embassy-Suites-Hilton-Anaheim-Garden-Grove-CA

California Hospitality Loans Western

CBRE Hotels Secures $71M Refinancing for Embassy Suites by Hilton Anaheim Near Disneyland Resort

by Amy Works December 6, 2018

GARDEN GROVE, CALIF. — CBRE Hotels has arranged $71 million loan for the Embassy Suites by Hilton Anaheim South, located at 11767 Harbor Blvd. in Garden Grove. Landmark Cos. is the borrower. Marc Sallette, Olga Lepow, Cara Leonard and Charlie Ryan of CBRE Hotel’s Debt & Structured Finance facilitated the 10-year, fixed-rate, interest-only loan to refinance existing debt. The debt is split into a $56 million senior mortgage to be securitized by Deutsche Bank, while Artemis Real Estate Partners provided a $15 million junior mezzanine loan to be held on book. The majority of the new mortgage is extinguishing existing loans. Additionally, Landmark is undertaking a five-year, $16 million renovation of the hotel in conjunction with the financing. Landmark developed the 375-room hotel, which is located near Disneyland Resort, in 2001.

December 6, 2018

Acquisitions California Retail Western

Asana Partners Acquires 71,184 SF Shopping Center in Los Angeles for $50.2M

by Amy Works December 6, 2018

LOS ANGELES — Asana Partners has purchased The Balcony at Beverwil, a shopping center located at the corner of Pico Boulevard and Beverwil Drive in Los Angeles. A private partnership sold the asset for $50.2 million. Built in 1996, the two-story property features 71,184 square feet of retail space and underground parking for 262 vehicles. At the time of sale Ralphs, CVS/pharmacy, One West Bank and six other tenants fully occupied the property. Geoff Tranchina of JLL represented the seller in the deal.

December 6, 2018

California Development Multifamily Student Housing Western

ACC, San Francisco State Break Ground on 584-Unit Student Housing Community

by Amy Works December 6, 2018

SAN FRANCISCO — A public-private partnership between American Campus Communities (ACC) and San Francisco State University has broken ground on a 584-bed student housing community with mixed-use components on the university’s campus in San Francisco. The development will offer fully furnished, apartment-style units. Shared amenities will include social and recreational lounges and an academic success center, alongside 15,000 square feet of retail space. The development, located on the southeast edge of campus, is scheduled for completion in 2020.

December 6, 2018

Acquisitions California Retail Western

College Square Shopping Center in Stockton Changes Hands for $20M

by Amy Works December 6, 2018

STOCKTON, CALIF. — A Northern California-based private partnership has completed the sale of College Square, a community shopping center located at 4756 Pershing Ave. in Stockton. A Southern California-based private investor acquired the property for $20 million in a 1031 exchange. Hobby Lobby and Planet Fitness anchor the 126,098-square-foot shopping center, which was built in 1976 and renovated in 2012. Additional tenants include Wienerschnitzel and Outback Steakhouse. Chris Tramontano, John Redfield and Tom Power of SRS Real Estate Partners’ Investment Properties Group represented the seller, while the buyer was self-represented in the deal. Ben Townsend and Matt Marlin, also of SRS’ Debt & Equity team, structured a high-leverage, non-recourse loan with a favorable reserve structure that allowed the new ownership to receive a cash-out return of approximately 10 percent.

December 6, 2018

Development Multifamily Seniors Housing Washington Western

AMWA to Develop 255-Unit Affordable Seniors Housing Community in Arlington, Washington

by Amy Works December 6, 2018

ARLINGTON, WASH. — AMWA Development Inc. has closed on a construction financing transaction for Cedar Pointe, a 255-unit affordable seniors housing community in Arlington, approximately 45 miles north of Seattle. Located on a four-acre site in the city’s Smokey Point neighborhood, the property will offer 175 one-bedroom units and 80 two-bedroom units, including a one-bedroom manager’s unit. All residents must be over the age of 55 and earning 60 percent or less of the area median income. Finance partners on the project include Washington State Housing Finance Commission, Hudson Housing Capital and Citi Community Capital. AMWA Construction will oversee the construction process, with a planned delivery of August 2020. FPI Management will operate the community. Cedar Pointe is the first real estate development project in Washington for AMWA Development, an independently owned and operated affiliate of AMCAL, a Southern California-based real estate developer.

December 6, 2018

California Loans Office Retail Western

NKF Arranges $125M to Refinance High-Profile Retail Properties in San Francisco

by Amy Works December 5, 2018

SAN FRANCISCO — Newmark Knight Frank (NKF) has arranged a $125 million, fixed-rate loan to refinance 111 Maiden Lane and 201 Post Street in San Francisco. Ramsey Daya and Jonathan Soffer of NKF, along with Chris Moritz and Travis Bailey of NKF, secured the loan for a high-net-worth family through PGIM Real Estate Finance. Situated at the intersection of Post and Grant streets, the beaux-arts buildings were built in 1908 and 1909. The properties are home to the West Coast flagships of several iconic luxury brands, including Hermès, Yves Saint Laurent, Cartier and Fendi. Additionally, the assets feature 100,000 square feet of creative office space and serve as the headquarters of Venables Bell and Orlando Diaz-Azcuy.

December 5, 2018

Acquisitions Arizona Multifamily Western

Greystar Acquires 845-Unit Multifamily Portfolio in Metro Phoenix

by Amy Works December 5, 2018

CHANDLER AND GILBERT, ARIZ. — Greystar Real Estate Partners has purchased a three-property Acacia multifamily portfolio on behalf of its real estate funds for an undisclosed price. Situated on Phoenix’s East Valley submarket, the properties are Chandler Court and River Ranch in Chandler and Vista Mountain in Gilbert. Originally built in the late 1980s, the portfolio largely features original interiors throughout the properties. Greystar’s value-add strategy includes renovating the units, including hard-surface countertops, stainless steel appliances, new cabinet doors and upgraded lighting, plumbing and hardware packages. Additionally, the company plans to upgrade the common areas and amenities, which include fitness centers, clubhouses, business centers, community gardens, pools and spa areas.

December 5, 2018

Acquisitions Industrial Nevada Western

Colliers Brokers $51M Sale of Industrial Building Near Las Vegas

by Amy Works December 5, 2018

HENDERSON, NEV. — Colliers International has arranged the sale of an industrial asset located within South15 Airport Center at 1775 Executive Airport Drive in Henderson. US Industrial Fund (Panattoni Development) sold the property to BCI IV Executive Airport DC HoldCo (Black Creek) for $51 million. The property features 482,300 square feet of industrial space. Dan Doherty, Susan Borst, Paul Sweetland, Chris Lane and Jerry Doty of Colliers represented the seller in the deal.

December 5, 2018

Acquisitions California Industrial Western

Terreno Realty Divests 266,000 SF Industrial Property in California for $33.2M

by Amy Works December 5, 2018

FONTANA, CALIF. — Terreno Realty Corp. has completed the sale of an industrial property located at 14605 Miller Ave. in Fontana. An undisclosed buyer acquired the asset for $33.2 million. Situated on 13.1 acres, the 266,000-square-foot property is fully occupied by one tenant on a short-term lease. Terreno originally purchased the property in 2014 for $22.9 million.

December 5, 2018

Newer Posts

Older Posts