| Class A Office Asset in South Orange County Trades for Over $500/sf
One Enterprise, a Class A, 111.4k sf office building, has sold in a $59 mil ($530/sf) transaction. The four-story property is situated on 7.27 acres at 1 Enterprise in Aliso Viejo, a master-planned city located in south Orang...
| Healthcare Realty Trust Buys Pasadena Medical Office Property
Healthcare Realty Trust, a publicly traded REIT, has boosted its portfolio with the acquisition of Cotton Medical Center, a 115k sf office property in Pasadena. The price was not disclosed.
Cotton Medical Center is located a...
| Stockbridge Pays Over $100 Mil for Luxury Res Complex in San Jose
LINQ, a 230-unit, transit-oriented luxury apartment community in San Jose, traded to a new owner in a $103.8 mil transaction, valuing the property at $451k/unit. The buyer was Stockbridge, on behalf of the firm’s Value Fund I...
| Office High-Rise Set to Break Ground in Uptown Oakland Next Year
Telegraph Tower, a fully-entitled, next generation office development in the heart of the Oakland’s Uptown neighborhood, is slated to break ground in mid-2020. The project, a development of TMG Partners, is located at 2200 Te...
| Office Tower Near LAX Sells for $45 Mil
A 306.2k sf office tower along Century Blvd in L.A.’s LAX corridor was acquired for $45 mil by a partnership led by North Sea Capital. The 15-story building, located 5901 Century Blvd, was 92% leased at the time of sale. It w...
| Commercial Real Estate Financing Briefs
CONTINENTAL PARTNERS - Brian Asheghian with Continental Partners arranged a $34 mil loan for a newly constructed 144-unit multifamily asset in North Hollywood. The loan serves to refinance the existing construction loan on th...
| Harbor Associates Wraps Up $43.5 Mil Office Buy in San Pedro
Harbor Associates paid $43.5 mil for a 292.5k sf ($149/sf), Class A office building along San Pedro’s waterfront. The 11-story building, located at 222 W. 6th St, west of Harbor Blvd and south of the terminus of the 110 Fwy, ...
| $400 Mil Vegas Mixed-Use Project Promises to Be a Very UnCommons Development
Matter Real Estate Group has obtained construction financing for UnCommons, a $400 mil mixed-use development in southwest Las Vegas. The project will break ground this spring and be completed in fall 2021.
The development, f...
| Rexford Industrial Realty Spends $76 Mil on Trio of SoCal Industrial Assets
Rexford Industrial Realty has acquired three SoCal industrial properties for $76 mil. The purchases were funded using cash on hand.
In the largest deal, Rexford acquired Slauson Commerce Center, located in City of Commerce w...
| Salt Lake City Investor Pays $30.7 Mil for AZ Multifamily Complex
Solano Vista, a 352-unit res complex in Glendale, AZ, has a new owner after being sold for $30.75 mil, in a deal that works out to $87.4k/unit. Solano Vista is in the high-demand and supply-constrained Glendale submarket wher...
| Vegas Office Complex Trades in $27 Mil Deal
Greystone Office Park, a 222k sf, five-building office and retail pad complex in Las Vegas, recently sold for $27 mil, or $121/sf. The asset is situated on more than 13 acres at 1800-2030 East Flamingo Rd.
Developed in 1982...
| Trion Properties Adds 89 Units to Its Bay Area Res Portfolio
Trion Properties has acquired Villa Morada Apartments, an 89-unit multifamily community in the Bay Area city of Hayward, for $25 mil, or $281k/unit. The property, located at 1180-1182 East St, was sold by Klingbeil Capital Ma...
| Excelsior Partners Acquires 50k sf OC Creative Office Asset
In a recent OC office buy, Excelsior Partners paid $16.8 mil for Create Tustin, a 50.8k sf ($331/sf), creative office building in Tustin. The building, located at 2642 Michelle Dr, is fully leased to three tenants – Avid Bios...
| Private Investor Completes Exchange that Consisted of Four SoCal Transactions Totaling $27 Mil
An investor has completed a strategic 1031 exchange of four properties with a total transaction value of $26.9 mil. The complex process involved the sale of a three-property, multi-family/mobile-home portfolio that included 6...
| Historic Office Building in Sacramento Gets a New Owner
A 140.9k sf historic office building in Sacramento’s vibrant Government Affairs District has traded hands in a recent $20 mil ($142/sf) transaction. The building, located at 1130K St, a few blocks east of I-5, was sold by UC ...
| Pathfinder Partners Spends $29 Mil on Sacramento-Area Value-Add Res Buy
Rosemont Park, a 170-unit, Sacramento-area apartment community, was acquired by Pathfinder Partners for $28.8 mil, or $169.4k/unit. The property is located at 9190 Schmuckley Dr, near the center of downtown Rosemont.
| New Standard Equities Spends $60 Mil on 170 Res Units in the Bay Area
New Standard Equities has acquired a 170-unit multifamily property in Fremont for $60 mil, or about $353k/unit. The deal closed at a 4.41% cap rate on in-place income.
The garden-style community is situated on one parcel at ...
| Phoenix Area Res Community Trades Hands for $110 Mil
Biscayne Bay, a 512-unit res community in Chandler, AZ, was acquired for $110.25 mil ($215.3k/unit) by San Diego-based MG Properties. The Phoenix-area asset was sold by Everest Holdings.
Located at 300 E. Warner Rd, Biscayne...
| Space Investment Partners Spends $18.4 Mil on OC Retail Center
Space Investment Partners has purchased Westport Plaza & Square, a 39k sf, leasehold retail center in Costa Mesa, for $18.4 mil ($472/sf). The asset is located at 369 E. 17th St, in the heart of the city’s E. 17th Street reta...
| Decron Properties Closes $79 Mil Multifamily Buy in the San Fernando Valley
Decron Properties has made its first investment in Los Angeles County since 2010 by acquiring Alura, a 250-unit multifamily property in Woodland Hills, for $79 mil ($316k/unit).
Built in 1977, Alura offers a mix of studio, ...