| Commercial Real Estate Financing Briefs
BERKELEY POINT CAPITAL - Berkeley Point Capital recently provided a Prime Residential affiliate with $105 mil in acquisition financing for the purchase of Avion at Spectrum, a 448-unit luxury apartment complex located in San ...
| Duke Realty Picks Up Two SoCal Industrial Facilities Totaling 874k sf
Duke Realty Corporation has purchased two industrial buildings totaling 873.9k sf in the SoCal cities of Fontana and Industry. The two assets are part of a larger $700 mil, 12-property industrial portfolio that Duke purchased...
| Moreno Valley Retail Asset Trades for Over $500/sf
A 6.4k sf retail building in Moreno Valley, sold for $3.53 mil, or $552/sf. The property is fully occupied by two corporate tenants – TitleMax and Coast Dental – which are both on long-term triple-net leases.
Situated on .3 ...
| Apparel Manufacturer Leases 443k sf Industrial Facility in Chino
Topson Downs inked a 10-year lease for a newly-constructed, 442.9k sf distribution warehouse in Chino in a deal said to be worth about $30 mil, or $0.56/sf/mo. The building is located at 8986 Remington Ave, west of I-15 and s...
| Westview Group Buys 175-Unit Multifamily Property in Palms Springs for $20.5 Mil
Westview Group has purchased a 175-unit apartment property in Palm Springs for $20.5 mil ($117k/unit). Built in 1979, the property is located at 311 South Sunrise Way, south of Tahquitz Canyon Way between Palm Canyon Dr and ...
| Logan Capital Advisors Buys Over 200 Apartment Units in the Inland Empire
Logan Capital Advisors spent $33 mil on a two-property, 214-unit ($154.2k/unit) apartment portfolio in the Inland Empire. The properties, Reche Ridge and 1333 Canyon, are located at 2270 Cahuilla St and 1333 Reche Canyon in t...
| Inland Empire Office Asset Trades in $45 Mil Transaction
Northpointe, a five-story 280.2k sf Class A office building in San Bernardino, was purchased by TPG Capital & Gramercy Property Trust in a recent $45 mil ($161/sf) sale. The property, situated on 14.5 acres at 1003 Brier Dr, ...
| Inland Empire Multifamily Asset Trades in $35 Mil Deal
Metro 102 Apartments, a 160-unit, garden-style property in Ontario, traded hands in a recent $35 mil deal that valued the asset at about $219k per unit. The property was sold by LA-based TruAmerica Multifamily to a California...
| Genera Corporation Leases 210k sf Facility in Fontana
Genera Corporation agreed to 10-year, $14.1 mil lease for a 210.9k sf industrial building in Fontana. The property is owned by Bolger Family Trust, a private investor.
The building is located at 13232 Valley Blvd, east of I-...
| Circle Industrial Purchases Perris Land
Circle Industrial LLC purchased a 9.87-acre sale of industrial-zoned land located on Harley Knox Blvd in the Inland Empire city of Perris. The land was sold by O3M LLC.
The buyer plans to develop an approximately 210k sf ind...
| Inland Empire Res Buy Financed with $26 Mil in Equity and a Bridge Loan
Crystal Asset Management has obtained $26 mil in financing for the acquisition of Ridgeline Apartments, a 160-unit, Class B apartment complex in San Bernardino. The financing, which was arranged by Walker & Dunlop Inc, includ...
| Rockefeller Group to Begin Work on 1.8 msf of Spec Space in the Inland Empire
Rockefeller Group has begun construction on two industrial projects in the Inland Empire. The spec developments, located in San Bernardino and Perris, will total about 1.825 msf of space.
One of the projects, Tri-City Indust...
| KB Home Coastal Buys 5.8 Acres in Murrieta
KB Home Coastal, an entity of KB Home, has acquired a 5.78-acre residential land parcel located in Murrieta, for $5.525 mil. KB Home plans to develop 64-single family homes on the site.
The property is situated west of Inte...
| Allianz Real Estate Wraps Up $55 Mil Refi on Riverside Property
Allianz Real Estate of America recently completed a $55 mil refinance of a 507k sf, state-of-the-art, LEED-certified cold storage facility in the city of Riverside. The property is located at 1001 Columbia Ave, east of I-215...
| Investor Exchanges into $8.2 Mil Inland Empire Multifamily Property
A 1031 exchange investor paid $8.2 mil for an Inland Empire multifamily asset. The 88-unit ($93.2k/unit) property, called Pine Gardens Apartments, is located at located at 1775 East 20th St, east of I-215 and south of the 210...
| Fully Leased Riverside Retail Property Sells for $769/sf
A 5.2k sf retail property leased to three food operators in Riverside has sold for $4 mil, or around $769/sf. The property was 100% pre-leased to Jamba Juice, Jimmy John’s, and Tokyo Joe’s prior to the completion of a major r...
| San Bernardino Multifamily Property Sells for $151k/Unit
Crystal Asset Management Inc recently paid $24.25 mil for Ridgeline Apartment Homes, a 160-unit ($151.6k/unit) res community in San Bernardino.
The property is located at 1925 W. College Ave, north of the 210 Fwy and just e...
| Partners Capital Spends $8.65 Mil on Inland Empire Industrial Building
Partners Capital has acquired a 92k sf industrial building in San Bernardino for $8.65 mil ($94/sf). The purchase is part of a 1031 Exchange transaction following the disposition of two brick-and-mortar retail assets in San F...
| Riverside Industrial Building Purchased for $93/sf by IL-Based Owner/User
MAT Holdings Inc purchased a newly constructed Class A, 303.1k sf industrial building in Riverside for $28.2 mil ($93/sf). The property, located at 6975 Sycamore Canyon Blvd, was sold by Newport Beach-based Investment Buildin...
| Retail Center in Riverside County Trades for Over $500/sf
Oak Grove Crossing, a 22.6k sf Riverside County shopping center shadow-anchored by Target, traded hands in a recent $11.6 mil ($513/sf) transaction. The property, located at 18283 and 18285 Collier Ave in the city of Lake Els...