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September 23, 2021
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Agoura Hills Office Asset Trades for $18.5 Mil
Two-building Platinum Court goes for $185/sf

Commercial Financing Briefs
Recent transactions from Greystone, George Smith Partners, NorthMarq and Cushman & Wakefield

Hines Pays $800 Mil for PG&E’s 1.6 msf Office Complex in Downtown San Francisco
Two-building purchase marks largest property sale ever in the city

Carillon Point Campus in Washington Recapitalized with $190 Mil Financing
Multi-building office complex includes a hotel and a 200-slip lakefront marina

High-End Res Development in Downtown Seattle Tower Opens to Public
The Residences at Rainier Square occupy floors 39-58 at new mixed-use high-rise

Overton Moore Properties Spends $35 Mil on Gardena Industrial Asset
10.8-acre property contains six buildings totaling 262k sf of space

The Ledges at West Campus in Tucson Acquired for $33.75 Mil by Tara Investment Group
205-unit res property was built in 1997

BentallGreenOak Buys 1.25 msf AZ Industrial Facility in Record Deal
Purchase of Park 303 Phase I building in Gilbert for $186 mil marks highest priced single-building industrial sale in Arizona history

Gelt Inc Buys 312-Unit OC Res Property in $146 Mil Deal
The Oasis Anaheim was sold by Redhill Realty Investors

Balboa Fun Zone Lands in Chartwell Real Estate Development’s Acquisition Zone
Unique Newport Beach asset sold by Discovery Cube

New 90k sf Office/Retail Building Completes LeBeau Realty & Associates’ Twenty by Six Office Center in Downtown San Diego
$35 mil project was built by C.W. Driver Companies

Santa Clarita Multifamily Community Traded for $54 Mil
Built in 1988, The Retreat offers 148 units

Foley Entertainment Group is Welcomed to the Hotel Californian
121-room Santa Barbara hotel recently underwent a major redevelopment

American Assets Trust Spends $83 Mil on Office Campus in Washington State
Four-building Corporate Campus East III contains 160k sf of space

CP Group and Related Fund Management Buy Downtown Denver’s Granite Tower
593k sf office high-rise sold by KBS

The Ezralow Company Spends $32 Mil on Two AZ Multifamily Communities
Ascend at Kierland and Elite North Scottsdale total over 720 units

Cruzan and Independencia Asset Management Spend $37 Mil on Burbank Post-Production Facility
Fully leased, 95k sf building sold by Strategic Office Partners

Arbor Lodging Properties Buys Newly Constructed AC Hotel at Arizona Center
199-room asset was sold by LaPour Partners, NewCrest Image and Peachtree Hotel Group

Intercontinental Real Estate Corporation and Security Properties Team Up in Recapitalization of 244-Unit Sacramento Multifamily Property
Venture acquires Broadleaf Apartments in $87.5 mil transaction

CapRock Partners Begins Work on 3.4 msf Spec Industrial Project in Phoenix
CapRock West 202 Logistics will consist of eight Class A buildings constructed in two phases

Decron Properties Closes on 300-Unit AZ Res Buy
$106.5 mil purchase of Broadstone Grand is the firm’s third acquisition in Tempe since May of this year

BKM Capital Partners Executes $261 Mil Recapitalization with Investcorp for Multi-State Industrial Portfolio
Transaction includes seven assets totaling 1.3 msf of space in AZ and WA

Riaz Capital Introduces Its Third Opportunity Zone-Compliant Development Fund
Firm hopes to raise $100 mil by the end of the year

Bay Area Industrial Campus Lands $220 Mil Refi
CBRE arranges new financing on Overton Moore Properties and Invesco’s 1.9 msf Pacific Commons South

Boston Properties Spends $465 Mil on Seattle Office Asset
Deal is for 810k sf Safeco Plaza

Office/Data Center Building in Downtown Portland Offered for Sale
179k sf Union Bank Tower currently occupied by 30 office tenants and 10 fiber-optic carriers

Kennedy Wilson Fund VI Closes $120 Mil Multifamily Sacramento Area Acquisition
Purchase is of 410-unit Autumn Ridge in Citrus Heights

Crescent Real Estate Buys 120k sf Office/Retail Asset in Denver
Acquisition financed with $56.5 mil loan provided by PCCP LLC

The Amidi Group Finishes Work on 1027 Wilshire Live/Work Project in Downtown L.A.
Unique development features 88k sf rooftop with extensive landscaping and amenities

MG Properties Group Makes $85 Mil Multifamily Buy in Tacoma, WA
Firm acquires 200-unit Point Ruston Waterfront

Waterton Closes on Two-Property, 624-Unit Res Buy in Las Vegas
Assets sold by The Calida Group for over $25k per unit

Skyline Group International Buys 273k sf Irvine Spectrum Asset
Deal is for three-building Glen Bell Way campus

GTIS Partners and Ryan Companies US Inc to Develop $42 Mil Last Mile Facility in Seattle
65 S Horton St is a 126k sf project in one of the city’s Qualified Opportunity Zones

The Hanover Company Breaks Ground on San Jose Res Development
366-unit Winchester Apartments designed by KTGY

Vancouver, Washington Multifamily Community Sells for Over $100 Mil
Sale marks the final of four dispositions totaling $334 mil by Vista Investment Group

Silicon Valley R&D/Office Campus Gets New Owner in $56 Mil Deal
Dollinger Properties buys 167k sf Valley Creative Center in North San Jose

Sudberry Properties Wraps Up Work on Mixed-Use Project in San Diego’s Scripps Ranch Area
The Hub at Scripps Ranch offers 260 res units along with 11k sf of retail space

Grosvenor Americas Acquires 218k sf Office / R&D Campus in North San Jose
Three-building Orchard-Trimble property fully occupied by Toshiba America Electronic Components

Tower Capital Arranges Over $100 Mil in Financing on Four Build-for-Rent Developments
Three of the deals are in Arizona

Trammell Crow Begins Construction on 570k sf, Phase 2 of Park Aldea in Phoenix
Class A logistics project will have four single-story buildings

Dansons LLC Buys 204k sf Scottsdale Office Property
Purchase financed with $29 mil loan arranged by JLL

Rexford Industrial Realty Completes $182 Mil Tech Campus Buy in Torrance
Deal is for five buildings totaling 576k sf on 27 acres

Pasadena Office Asset Trades in $80 Mil Transaction
Private investor buys three-building 2 N Lake property

Cypress Office Properties and Harbert Management Corporation Spend $37 Mil on AZ Medical Office Project
The Arc consists of two buildings totaling 180k sf of Class A space

Arizona Multifamily Asset Traded in $94 Mil Transaction
Oaktree Capital Management entity buys 240-unit Ravenwood Heights in Tempe

Property West Residential Closes $110 Mil Res Buy in Oceanside
Purchase of 284-unit Capella at Rancho del Oro is the highest price paid for a multifamily property in the city’s history

Unico Investments Spends $17.5 Mil on Apartment Property in Seattle’s Pioneer Square Neighborhood
80 Main goes for $390k/unit

TruAmerica Multifamily Closes on Over $200 Mil in Apartment Acquisitions
Firm buys assets in Las Vegas, Tampa and Salt Lake City

Salt Lake City Neighborhood Center Sold for $51 Mil
Asana Partners buys 270k sf Foothill Village

Greenpointe Development Set to Start 124-Unit Mixed-Use Project in L.A.’s Leimert Park Neighborhood
Project being financed with $29 mil loan from Parkview Financial

Prime Residential Buys 454 Res Units in Hermosa Beach for $275 Mil
Transaction accounts for 24% of city’s entire apartment stock

Next Wave Investors Closes $24 Mil WA Multifamily Purchase
118-unit Ashley Terrace in Vancouver to be renovated

Newly Constructed El Segundo Building Sells for $778/sf
Buyer to occupy 90k sf, creative office property

Acacia Capital Corp Closes $95 Mil AZ Res Buy
Firm buys 272-unit Arrive Ocotillo from FPA Multifamily

AZ Corp HQ Building Traded in $39 Mil Deal
200k sf Scottsdale facility acquired by Dansons

Macquarie Asset Management Acquires Phoenix Office Redevelopment Project in $56 Mil Deal
Firm purchases CASA in city’s Uptown neighborhood from George Oliver

Rexford Industrial Realty Spends $115 Mil on Trio of SoCal Properties
Latest acquisitions include a Fullerton redevelopment site, a 107k sf Rancho Cucamonga facility and a 22-acre L.A. area storage site

Washington State Office Campus Trades Hands in $125 Mil Deal
American Assets Trust buys 280k sf Eastgate Office Park from Kennedy Wilson

Riverside Investment and Development and Convexity Properties Planning 30-Story Denver Office Project
1900 Lawrence expected to add 700k sf to the city’s downtown

Pacific Industrial Starts Work on 824k sf Industrial Facility in Salt Lake City
Pacific Summit Logistics Center will sit on a 48-acre site

New San Luis Obispo Res Community Purchased by IDEAL Capital Group for $51 Mil
105-unit Vintage at SLO goes for $485k per unit

Freestanding Sunnyvale Office/R&D Building Trades for $19.3 Mil
Montana Avenue Capital Partners buys 53k sf property

Alliance Residential Company Breaks Ground Long Beach Res Project
189-unit Broadstone Promenade was designed by Studio T-Square 2

Washington Holdings Buys 378k sf San Jose R&D Campus
Purchase of RioTech property financed with $113 mil loan

Tower 16 Capital Boosts Inland Empire Res Portfolio with the Purchase of Two Properties in Moreno Valley
Sienna Pointe Apartments and Heacock Park Apartments total 504 units

Mesa Multifamily Property Generates Sale Price of $325k per Unit
SoCal investor spends $65 mil on 200-unit Superstition Canyon

Work Gets Underway on 55-Acre AZ Industrial Project
Latitude 303 Logistics in Glendale is being developed by McKinney Investments, Westport Capital Partners and AEW

San Francisco Creative Office Building Acquired by Bridgeton and STARS REI
73k sf property was 80% leased at time of sale

KKR Acquires Silicon Valley HQ Campus in $535 Mil Transaction
Deal is for 600k sf HQ @ First in San Jose

Oceanside Multifamily Property Purchased for $74 Mil
The Dylan goes for $356k per unit

Gemdale USA Corporation Lands $113 Mil in Construction Financing for Seattle Res Project
C&W arranges money for 29-story Spyglass Tower in city’s South Lake Union submarket

Two Multifamily Communities Acquired by an Affiliate of The Wolff Company for $109 Mil
The properties, North Hollow and Sky3, total 317 units

Gantry Arranges $120 Mil of Financing in Four Self-Storage Deals
Transactions cover nine properties in CA, OR, WA and AZ

Commercial Real Estate Values Return to Pre-Pandemic Levels in Many Markets
CBRE survey points to a continuing recovery throughout the first half of 2021

Phoenix Registered Second-Most Data Center Leasing in North America in First Half of 2021
CBRE report points to strong demand for data centers as markets see an increase in supply and absorption

LoopNet vs. Crexi: Which is Better for Net Lease Property Sales?
The answer is revealed in this recent video posted on The REview

Midyear Market Sentiment Survey Reveals Rising Optimism for CRE Performance into 2022
Transwestern research shows that indexes for office, medical office, industrial and retail are all up significantly

U.S. Commercial Real Estate Investment Recovering Rapidly
Per the latest research from CBRE, investor inquiries and newly launched deals have recovered to near-2019 levels

Multifamily Remains the Most Attractive Asset Class for SoCal Investment Activity
Per latest research from CBRE, office assets geared towards growth industries continue to attract capital, while more traditional properties are seeing noticeably reduced interest

U.S. Industrial Market Posts 100 msf Positive Net Absorption for 3rd Qtr 2021
Top markets in the country include Dallas-Fort Worth and the Inland Empire

Return to the Office is Key to the Industry’s Future in Portland
CBRE 2nd Quarter Marketview report takes a look at how the numbers are trending

Inland Empire Industrial Market has Strong Second Quarter 2021
Brief mid-year review from NAI Capital shows demand is soaring

RENTV Launches The REview for Watching Real Estate Videos
New platform enables CRE pros to share, find and watch video content for the commercial real estate industry

Economy Reawakening Tentatively Signals the Beginning of a New CRE Cycle
Just released Allen Matkins/UCLA Anderson Forecast California CRE Survey predicts continued growth for industrial and multi-family housing, with a possible turn-around predicted for office and retail

The Bay Area Ranks as the Second Largest Market in the Hot Life Sciences Sector
CBRE report points to hot market in the first half of 2021, thanks to growing demand for development of medicines and vaccines

San Francisco Bay Area Retains Top Spot on Annual “Scoring Tech Talent” from CBRE
Region leads with the largest tech labor pool, highest wages and top educational attainment rate

Investor Demand in Retail Trending Up, Thanks to Consumer Spending
JLL experts say the retail sector is bouncing back, with investor demand apparent throughout all segments

Historic Office Building in Downtown Oakland Trades in $14 Mil Deal
FH One Inc to renovate 43k sf property

HydroJug is Expanding in Utah
Firm inks deal for new 120k sf facility within Business Depot Ogden

Developer Picks Up 32-Acre Parcel in the Austin, TX Area
Buyer planning on building a mixed-use project on the Dripping Springs Site

Prologis Buys 441k sf Las Vegas Industrial Property
Safari Business Park consists of five multi-tenant buildings

NAIOP SoCal’s Night at the Fights is Back -- on October 7!
Popular black tie industry event returns to The Hangar at the Orange County Fairgrounds in Costa Mesa

Idaho Entity Pays $249/sf for Phoenix Office Property
89k sf, Class A asset trades for $22 mil

MAG Capital Partners Buys 402k sf HQ Campus for Hobbs Manufacturing
Waco, TX purchase consists of two buildings on 27 acres

Black Creek Group Closes 690k sf Silicon Valley Biz Park Buy
Transaction estimated to be worth near $95 mil

Rexford Industrial Realty Wraps Up $250 Mil in SoCal Industrial Buys
Latest deals cover four properties totaling 837k sf of space

The Platform in Santa Barbara Sells for $420/sf
33k sf office/industrial property was 97% leased at time of sale

Stos Partners Pays $135/sf for Phoenix Warehouse Property with Cold Storage
82k sf facility acquired in a venture with a private investor

DXD Capital Breaks Ground on Las Vegas Self-Storage Facility
1,100-unit project expected to be operated by Public Storage

Three Assets at AZ Retail Center Traded in Separate Deals Totaling $14 Mil
Properties are part of Gilbert Crossroads in the Phoenix area

Integrated Capital Management Launches Fourth Investor Offering
Integrated Realty Capital II LP fund has already picked up OC oceanfront hotel as its initial investment

Cumberland Holdings Acquires Multifamily Assets Totaling 136 Units in Portland and Daly City
Deals were funded with $32 mil in bridge loans arranged by NorthMarq Capital

KKR Entity Picks Up 164k sf Industrial Facility in the Denver Area
Park 70 building was sold by a joint venture of Karis Capital and AEW

Pacific Partners Residential Secures $40 Mil in Construction Money for Two Res Developments
CBRE arranges financing to build market-rate projects in Redmond, OR and Boise, ID

Phase 3 Real Estate Partners Buys Sorrento Mesa Office/Flex Asset
Property viewed as excellent life sciences conversion candidate Acquires ASOC LLC to Expand Aerial Inspection Services for Real Estate Construction / Development
Move enables firm to offer property monitoring via drone

Total Office Solutions Leases 329k sf TX HQ Facility
Deal is for Stadium Logistics Center in Irving

Barstow Raising Cane’s Trades at a 4.3% Cap Rate
Exchange investor pays $5.5 mil for ground lease buy of 3.3k sf retail property

Vegas Apartment Building Trades for $21.75 Mil
Seattle entity pays $92k/unit for 113-unit Mark I Apartments

32-Acre Texas Site Purchased for Development of a Mixed-Use Project
Land is in Dripping Springs, within the Austin metro area

Norwalk Multifamily Community Gets New Owner in $81 Mil Transaction
RedHill Realty Investors, Shelter Asset Management and Tokyu Land Corporation sell 192-unit Solterra at Civic Center

Cannae Partners and Blue Vista Capital Management Acquire 61k sf R&D/Office Asset in Fremont
Bayside Technology Park goes for $16.5 mil

TruAmerica Multifamily Buys Two Texas Res Communities Totaling Over 500 Units
Acquisition of The Heights and Mission Ranch properties doubles the firm’s portfolio in the state

Bloom Energy Agrees to 150k sf Expansion/Renewal Lease in San Jose
Deal is at two-building, 369k sf 237@First campus

Avanath Capital Management Buys 71-Unit Berkeley Multifamily Property
Firm to implement capital improvement plan at Acton Courtyard

Construction Completed on New OC Memory Care Facility
Grace Gardens in Santa Ana was built by C.W. Driver Companies on behalf of Town & Country

Comunale Properties Starts Work on Fort Collins, CO Industrial Development
Mulberry Connection will offer 164k sf in two buildings

DWS Makes $67 Mil Bay Area Retail Buy
Firm purchases 90k sf Hamilton Marketplace from Grosvenor Americas

Buchanan Street Partners Spends $26 Mil on Chula Vista Self-Storage Facility
95k sf property was just built

Capstone Advisors Pays $14 Mil for Galveston Technology Center
75k sf AZ industrial property was 92% leased at time of sale

Robert Parmar and Ryan Kidwell to Open Seattle Office for The Mogharebi Group
This is the second of five new Western U.S. markets that the firm plans to enter over the next three years

Baker Development Corporation Buys 81-Acre AZ Development Site
Firm to build $150 mil Cactus 303 project in Surprise

778-Acre Development Site in Oregon Being Offered for Sale
Redmond land is one of the largest industrial sites available in the state

Westcore Nabs 115k sf Warehouse Property in Phoenix
Asset was sold by an owner/user in sale/leaseback deal

Rubicon Point Partners Buys Historic Mason Block in Seattle’s Pioneer Square Submarket
Firm buys four-building, 89k sf property for $24 mil from Alexandria Real Estate

IG Logistics LLC Buys 34-Acre Denver Industrial Site for $21 Mil
Lipan Street Industrial Park includes outside storage, trailer parking, administrative offices, fueling station and a truck maintenance facility

Two East Bay Multifamily Sales Total Over $30 Mil
Private investor picks up assets totaling 96 units in Hayward and Castro Valley

Xenon Investment Corp Spends $42 Mil on 130 Res Units in L.A.’s Koreatown Submarket
Firm plans to renovate the two properties, originally built in 1991

KB Development Buys 300 Res Units in Phoenix
Firm acquires Green Leaf on Bell property

MG Properties Group Picks Up 288-Unit Multifamily Property in the Reno Metro Area
Parq Crossing Apartments was sold by Guardian Capital

DermTech Leases 96k sf of Class A Space in Del Mar Heights
Firm will convert some office space to life science use

Draftsmen & Craftsmen
Work Finished on Mt. San Jacinto College’s 350k sf Temecula Valley Campus

AZ Industrial Complex Gets New Owner in $18 Mil Deal
Four-building Pulliam Innovation Park in Flagstaff goes for $200/sf

Rancho Cordova Industrial Asset Fetches $146/sf
108k sf building is fully leased to Motion Control Engineering

GO Industrial Buys 77 Acres for Phoenix West Valley Industrial Development
GO | 99 will total 1.2 msf in three buildings

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