| Affordable Housing Project in San Luis Obispo Opens Fully Leased
The City of San Luis Obispo recently celebrated the grand opening of South Hills Crossing, a new affordable apartment community by ROEM Corporation in partnership with the Housing Authority of the San Luis Obispo (HASLO). So...
| Draftsmen & Craftsmen
Renovation of the Davidson Library at University of California, Santa Barbara (UCSB) has been completed. The $58.5 mil project was done by C.W. Driver Companies.
The project included the addition of a 62k sf, three-story bu...
| Rexford Industrial Realty Completes Two Acquisitions While Selling Two Other Assets
Rexford Industrial Realty recently closed on the acquisition of two assets. These transactions include picking up the remaining 85% interest in a property previously held in a joint venture for approximately $21.8 mil, and bu...
| Specialty Retail Center in Ventura County Fetches $50 Mil
Poinsettia Plaza, a 153.2k sf, specialty retail shopping center in the city of Ventura, has sold for $50 mil, or about $325/sf. We’re told this is the largest retail sale in the city of Ventura since 2003.
Located at 4220 to...
| New 118-Room Residence Inn by Marriott Breaks Ground in Goleta
R.D. Olson Development and Joseph Martelli Real Estate Investments Inc have broken ground on a 118-room Residence Inn by Marriott hotel development in Goleta. The project is located on a 3.81-acre parcel at 6350 Hollister Ave...
| LA Investor Buys 64-Unit Asset in Atascadero
A Los Angeles-based private investor paid $10.425 mil for Mira Vista Apartments, a 64-unit ($163k/unit) multifamily community in Atascadero, a CA town about 110 miles north of Santa Barbara. The property is located at 11145-1...
| Two SoCal Retail Centers Trade in Deals Totaling Over $350 Mil
Two SoCal shopping centers, in Westlake Village and San Diego, traded hands in recent sales with a combined value of over $350 mil. Savills Studley’s National Retail Services Group represented the sellers in both deals.
| Simi Valley Production/Office Complex Trades in $11 Mil Deal
A unique, state-of-the-art production and entertainment facility and Class A office complex in Simi Valley has traded hands in a recent $11 mil deal. The property, located at 101 West Cochran St, was acquired by Los Angeles-b...
| Berkeley Point Capital Arranges $20 Mil in Financing for Goleta Affordable Housing Community
Berkeley Point Capital LLC closed a $20 mil financing package using Freddie Mac’s Direct Purchase of Tax-Exempt Loans (TEL) program for the Positano Apartments, an affordable apartment community located in Goleta, CA. The fin...
| LA-Based Investor Buys Conejo Valley Strip Center for $385/sf
An LA-based private investor paid $15.26 mil for The Terrace, a two-level, 39.6k sf ($385/sf) shopping center with structured parking in the Conejo Valley city of Newbury Park. Built in 2006, the property sits on 3.62 acres a...
| Scheu Development Buys 37k sf Office Property in Westlake Village
Scheu Development has purchased a 37.1k sf, newly constructed office building in Westlake Village for $9 mil ($243/sf). The three-story building is located at 4580 East Thousand Oaks Blvd, within North Ranch Corporate Center....
| The Sleep Shoppe Wakes Up Retail Leasing Market in Ventura
The Sleep Shoppe just inked a deal for its fifth Ventura County area store after signing a $3 mil lease for a 10k sf facility on Main St in the city of Ventura. The new store includes a small warehouse and office space, with ...
| J.P. Morgan Asset Management and SARES-REGIS Group Land $130 Mil in Financing on Two Thousand Oaks Res Properties
HFF has arranged $129.78 mil in financing for two Class A apartment communities, The Knolls and Westlake Canyon, totaling 672 units in Thousand Oaks. The borrower is a joint venture between institutional investors advised by ...
| Starbucks-Anchored Center in Kern County Sells for $470/sf
Glenwood Square, a 6.8k sf, multi-tenant strip center anchored by Starbucks in Kern County, sold for $3.2 mil, representing a cap rate of 5.6% and a price of $470/sf.
The property, which is located 31 miles north-northwest ...
| Conejo Valley Retail Center Sells for $400/sf
Oak Park Plaza, a 30k sf, lifestyle center in the Conejo Valley community of Oak Park, has traded for $11.95 mil, or $398/sf. The property was purchased by Oak Park Properties LLC in an off-market transaction.
The property i...
| CBRE Arranges $22 Mil for Development of Assisted Living/Memory Care Facility in Goleta
Construction of Mariposa at Ellwood Shores, an 84-unit assisted living and memory care retirement community in Goleta, CA, can move forward, thanks to $21.9 mil in construction and permanent financing arranged by CBRE Capital...
| Atascadero Retail Property Sells for $600/sf
A 3.5k sf, multi-tenant, NNN-leased property in Atascadero, CA sold for $2.12 mil ($606/sf). Tenants include Chase Bank and Verizon Wireless (franchisee).
Developed in 2004 with additional improvements in 2007, the propert...
| Cabot Properties Buys 96k sf Simi Valley Facility
Cabot Properties has acquired a 96.9k sf industrial building in Simi Valley as a leased-investment property. Located at 3850 Royal Ave, the building is 50% leased to Bellami Hair LLC, a worldwide shipper and supplier of hair ...
| Walker & Dunlop Closes $77 Mil in Financing on Three SoCal Condo Properties
Walker & Dunlop Inc recently closed three financing transactions totaling $77.15 mil for three condominium developments in Southern California. The loans were on the following properties: Element 436, located in LA’s Koreatow...
| Tight Simi Valley Industrial Market Leads to Expansion of an Existing 200k sf Facility
Topaz Distribution is in the process of expanding an existing 200k sf facility it owns in Simi Valley by an additional 40.3k sf. Work is underway and the walls have just been tilted on the building addition, located at 2280 W...