| Kenson Ventures to Start Work on 30k sf Office Project in Palo Alto
Kenson Ventures is about to break ground on a 30k sf office project in Palo Alto’s California Avenue district. Construction of the state-of-the-art, LEED-certified development is slated to start this month with completion pla...
| Westcore Properties Invests $6 Mil in Stockton Industrial Property
Westcore Properties has boosted its portfolio with the recent purchase of a 172.5k sf industrial property in Stockton for $6 mil, or $35/sf. The property, located at 4545 Qantas, was sold by Sacramento-based Friedman Family.
| Universe Holdings and Hanover Financial Pay $24 Mil for 68 Res Units in Hollywood
Universe Holdings and Hanover Financial have teamed up in the acquisition of two multifamily properties totaling 68 units in Hollywood for $24.1 mil ($354.4k/unit). The joint venture partners have dedicated an additional $2 ...
| Spec Manufacturing Project in San Jose has Been Completed
Construction has been completed on MidPoint@237, a three-building, 563k sf Class A advanced manufacturing project in San Jose. The spec development, being built by Trammell Crow Company and Principal Real Estate Investors, is...
| Parallel Capital Partners Spends $20 Mil on AZ Office Asset
San Diego-based Parallel Capital Partners has acquired Kierland Corporate Center, a 78.3k sf, Class A office complex in Scottsdale, for $20 mil, or $255/sf. The property was sold by Bataa/Kierland II LLC.
Bult in 2009, Kierl...
| Highpoint Capital Group Makes 85k sf Retail Buy in Central California
Hallmark Town Center, an 85.1k sf, grocery-anchored shopping center in the central California community of Madera, was acquired by Highpoint Capital Group LLC, a private real estate investment firm based in Los Angeles. The p...
| Transwestern Investment Group Closes its TSP Value and Income Fund I
Transwestern Investment Group has closed its TSP Value and Income Fund I, with total commitments of approximately $160 mil.
“Our guiding philosophy is to provide investors the least risky path to achieve value-add returns,”...
| Brookline Investment Group Closes 200-Unit OR Res Buy
Brookline Investment Group purchased Sunfield Lakes, a 200-unit, garden-style apartment community in the southwest Portland, OR suburb of Sherwood. The asset was sold free and clear of existing debt by Berkshire Group.
| Beverly Hills Retail Building Sells for $5,000/sf
Sterling Organization has purchased a 4.7k sf retail building in Beverly Hills’ Golden Triangle shopping district, just one block east of Rodeo Drive. The property was purchased for $23.5 mil, or $5,000/sf, in an off-market t...
| Westcore Properties Buys Reno, NV Industrial Portfolio
Westcore Properties has acquired a 1.17 msf industrial property portfolio in Reno, NV from an institutional owner for approximately $54.5 mil ($46.50/sf). The acquisition marks Westcore’s entry into the Reno marketplace.
| The Kavli Foundation Pays Almost $1,000/sf for Playa Vista Building
The Kavli Foundation purchased a 13k sf building in Playa Vista for $12.3 mil ($946/sf) in an all-cash deal. The three-story building is located at 5715 Mesmer Ave, in the heart of Playa Vista on the west side of Mesmer betwe...
| Corporate Properties Trust I LP Acquires 2.2 msf Mixed-Use Project Outside of Dallas
Corporate Properties Trust I LP has closed on the acquisition of a 2.2 msf, mixed-use project outside of Dallas, TX in a sale-leaseback with State Farm Auto Insurance Co. Corporate Properties Trust I LP is a partnership of Tr...
| Commercial Real Estate Financing Briefs
PACIFIC SOUTHWEST REALTY SERVICES - Kostas Kavayiotidis & Mike Davis of Pacific Southwest Realty Services arranged a $13.5 mil, 10-year non‐recourse loan on an 80.8k sf, multi-tenant anchored retail center in Bell Garde...
| Carlsbad Biotech/Office Asset Purchased for $19 Mil
Faraday Research Center, a 65.8k sf, biotechnology/creative office building in Carlsbad, was purchased by an unnamed Los Angeles investor for $19 mil, or $289/sf. The single-story, Class A building was sold by Alvarez & Marsa...
| Stirling Capital Investments Completes 448k sf Industrial Facility at Its Southern California Logistics Centre in Victorville
Stirling Capital Investments has completed construction of Building 13B, a 447.7k sf industrial facility located at Southern California Logistics Centre (SCLC), a 2,500-acre commercial and industrial complex entitled for 60 m...
| BKM Capital Partners Makes $20 Mil WA Industrial Buy
BKM Capital Partners bought Andover Executive Park, an eleven-building multi-tenant industrial business park encompassing 181.2k sf of space in the Kent submarket of Tukwila, WA. The asset was acquired in an off-market transa...
| Commercial Real Estate Financing Briefs
GREYSTONE – Tom Meunier of secured a $31 mil, Fannie Mae Delegated Underwriting and Servicing (DUS®) loan for the permanent takeout of a construction loan on The Henry in Tacoma, WA. The loan is a 7/6 adjustable rate mortgage...
| Investor Venture Buys Newport Beach Office Asset
Newport Irvine Center, a three-story, Class A, 76.8k sf office property in Newport Beach, was acquired by Newport Beach-based Cress Capital and New York-based C-III in a recent OC investment deal. The price was not immediatel...
| First 100% Affordable Housing Project in the San Francisco Shipyard Opens to the Public
Pacific Pointe, the first 100% affordable housing development in the San Francisco Shipyard, has officially opened to the public. The 60-unit project is a development of Young Community Developers, a non-profit that serves th...
| Community Preservation Partners Agrees to Below-Market Lease with SolarCity for Solar Power Installation at Colton Property
Community Preservation Partners (CPP) has agreed to lease 2.2 unused acres at its Arbor Terrace Apartments affordable housing community in Colton to SolarCity at a below-market rate for the installation of a solar power syste...