JV ACQUIRES GATEWAY AT BURBANK

BURBANK, CALIF. — Santa Barbara, Calif.-based Invest West Financial Corp. and Santa Barbara Capital have acquired Gateway at Burbank, which is located at the northwest corner of Alameda Avenue and San Fernando Road in Burbank. Ralphs Grocery and CVS/pharmacy anchor the 74,391-square-foot retail center. The transaction was valued at $40.5 million and required the assumption of the existing $31.6 million loan. The seller was Bellevue, Wash.-based Lakha Investments. Marcus & Millichap represented the buyer in the transaction.