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• Downtown Los Angeles Multifamily Refinanced with $128 Mil Loan
5/30/19
Geoff Palmer has secured $128.1 mil in financing for Orsini II, a 566-unit, institutional-quality multifamily property in Downtown Los Angeles. The new loan replaces a $115.2 mil floating rate loan secured for the property in...
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• Final Phase of Southwest Phoenix Distribution Park Completed
5/29/19
The final phase of 10 West Logistics Center, a Class A, master-planned bulk distribution park in Southwest Phoenix, has been completed. The project is a development of New York Life Real Estate Investors to meet record-high l...
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• TOD Development Site in Seattle Fetches $17.3 Mil
5/29/19
A 24.2k sf, transit-oriented development site in Seattle’s University District, has sold for $17.26 mil. The buyer is a developer of multifamily properties that plans to develop a mixed-use, high-rise building that will inclu...
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• New Residential Community in Lakewood, WA Opens to the Public
5/29/19
Wellstone at Bridgeport, a new 208-unit residential development in Lakewood, WA, is finished and has officially opened to the public. The 208k sf, four-story project, a development of Legacy Partners and Momentum Partners, is...
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• CenterSquare Investment Management Secures $40 Mil on Four Phoenix and Vegas Retail Centers
5/27/19
CBRE arranged $40.4 mil in debt financing for four multi-tenant retail centers located in metro Phoenix and Las Vegas. The borrower is an institutional client of CenterSquare Investment Management.
The Metro Phoenix properti...
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• Pathfinder Partners Picks Up 132-Unit OR Multifamily Community for $29 Mil
5/24/19
Pathfinder Partners has acquired Creekside Village Apartments, a 132-unit multifamily community in Vancouver, WA, for $29 mil ($219.7k/unit). The asset, located at 3100 Falk Rd, was acquired from an affiliate of the ConAm Gro...
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• $46 Mil Gershwin Sale Provides Local Investor Opportunity to Compose New Value at Hollywood Asset
5/24/19
The Gershwin Apartments, a 172-unit, mixed-use development in Hollywood, was acquired by a local real estate entity for $46 mil in a transaction that took just 35 days to close escrow. The property is located at 5533 Hollywoo...
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• Seefried Industrial Properties and Clarion Partners Buy 10.7 Acres in San Jose
5/23/19
Seefried Industrial Properties and Clarion Partners have acquired a 10.7-acre site in San Jose, on which plan to build a 223.8k sf, Class A logistics/advanced manufacturing facility. The project is scheduled for completion fi...
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• Hotel Project in Downtown Morgan Hill Breaks Ground
5/22/19
Granada Hotel & Spa, a new four-story, contemporary-style boutique hotel with 60 guest rooms situated in the southern Silicon Valley city of Morgan Hill, has broken ground. Located at 17490 Monterey Rd, Granada Hotel & Spa wi...
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• Colton Apartment Community Trades for $63 Mil
5/21/19
San Diego-based Tower 16 Capital Partners has acquired The District at Grand Terrace, a 352-unit multifamily project in Colton, for $63.05 mil ($179k/unit). The project was acquired on an off-market basis from FPA Multifamil...
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• Greystar Picks Up Downtown San Diego Development Site
5/21/19
Greystar acquired a prime development site totaling 0.59 acres in downtown San Diego, at the southwest corner of 6th Ave and Olive St. The property was sold by St. Paul’s Episcopal Cathedral.
Greystar will develop a new 204-...
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• Commercial Real Estate Financing Briefs
5/20/19
SONNENBLICK-EICHNER COMPANY - Sonnenblick-Eichner Company arranged $27 mil of first mortgage leasehold financing for Lahaina Gateway, a 136.6k sf community shopping center on the island of Maui, Hawaii. Current tenants includ...
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• Portland Multifamily Property Traded in $14 Mil Deal
5/20/19
Sienna Lofts, a 75-unit multifamily property in Portland’s Gresham neighborhood, was acquired by San Diego-based Street Properties LLC and Street Properties Inc for $14 mil, or $187k/unit. The asset, located at 22744 SE Stark...
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• Office Tower in L.A.’s Brentwood Neighborhood Purchased for $58 Mil
5/17/19
Brentwood Gateway, a 10-story, 104.7k sf office tower in Los Angeles’ Brentwood neighborhood, was acquired by Sargossa LLC, an affiliate of Fortress Investment Group, in a $58 mil ($554/sf) transaction. Built in 1977, the Cla...
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• BUILD Searching for Investment Partners for Development of San Francisco’s India Basin
5/16/19
BUILD, a San Francisco residential development company, is currently looking to lock up investment partners for the construction phase of its India Basin development, located within a rare opportunity zone in San Francisco. T...
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• State-of-the-Art Industrial Project Breaks Ground in Poway
5/15/19
Ryan Companies and DWS Group have broken ground on Vantage Point, a new state-of-the-art, infill logistics/distribution development in San Diego’s Poway submarket.
Vantage Point consists of a new Class “A,” 534k sf two-build...
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• IDEAL Capital Group and Aegon Real Assets US Acquire 105-Unit Res Asset in Redondo Beach
5/14/19
A joint venture between IDEAL Capital Group and Aegon Real Assets US has acquired Novella Redondo, a 105-unit apartment property in Redondo Beach. IDEAL Capital Group is a Clovis, CA-based real estate investment firm based in...
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• Gelt Inc Spends $62 Mil on CO Residential Community
5/10/19
Gelt Inc has acquired Cedar Run Apartments, a 384-unit apartment community in Denver, for $62 mil, or $161.5k/unit. The property sits on 14 acres at 888 South Oneida St, west of Quebec St off Hwy 83.
Built in 1970 and part...
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• BKM Capital Partners Closes Its Second Institutional Fund with $382 Mil in Equity Commitments
5/10/19
BKM Capital Partners, an institutional fund manager with a niche focus on value-add, light multi-tenant industrial investments, has closed its second institutional fund, BKM Industrial Value Fund II, L.P., with $382 mil in eq...
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• Silicon Valley Office Project Lands $314 Mil in Acquisition and Construction Money
5/09/19
Harvest Properties and Invesco Real Estate are closer to starting work on Catalyst, a fully-entitled, four-property office portfolio that will comprise 587.9k sf in the Silicon Valley city of Sunnyvale, after securing $313.8 ...
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