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• Kennedy Wilson Has Secured $775 Mil of Capital Commitments for Its Fund VI
12/31/19
Kennedy Wilson has exceeded its target, securing $775 mil of capital commitments, and closed fundraising for Kennedy Wilson Real Estate Fund VI (“Fund VI”), a private equity fund focused on value-add real estate investments a...
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• Shamrock Acquisitions Lands $69 Mil in Construction Money for Merced Housing Development
12/30/19
Shamrock Acquisitions LLC has obtained $68.75 mil in construction financing for an 885-bed student housing development in Merced, CA. The funding was provided by an affiliate of Mosaic Real Estate Credit (MREC).
The 270-unit...
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• Phoenix Office Building Purchased for $150/sf
12/27/19
A 35.3k sf, office property in central Phoenix’ Midtown market has sold for $5.3 mil ($150/sf). The property is located at 702 E. Osborn Rd, on the northeast corner of Osborn and 7th St.
Constructed in 1984, the two-story bu...
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• 100k sf Retail Property in Coastal NoCal Trades Hands
12/26/19
GRI Fairmont, LLC, an affiliate of First Washington Realty Inc, has purchased Fairmont Shopping Center, a 103k sf shopping center anchored by Safeway in the Bay Area. The property is situated on 7.46 acres at 705-799 Hickey B...
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• Commercial Real Estate Financing Briefs
12/24/19
JLL - Olga Walsh and Daniel Pinkus with JLL have arranged $50 mil in financing for Pierside, a two-building, mixed-use property with 176 residential units and approximately 17k sf of retail space in Oceanside. Pierside was co...
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• Protea-Primewes Spends $9 Mil on Kearny Mesa Office Building
12/23/19
Protea-Primewes purchased a 43.9k sf office building in Kearny Mesa for $8.95 mil, or $204/sf. It was sold by Massachusetts-based REIT Office Properties Income Trust.
Originally constructed in 1986 and renovated in 2001, t...
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• Kearny Mesa Office Building Sold to IDS Real Estate in $23.75 Mil Deal
12/20/19
IDS Real Estate Group purchased a 148.5k sf office building in San Diego’s Kearny Mesa area for $23.75 mil ($160/sf). The asset was sold by Massachusetts-based real estate investment trust Office Properties Income Trust.
Loc...
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• Sprouts Farmers Market-Anchored Center in Scottsdale, AZ Trades
12/20/19
The Shops at Gainey Village, a 138.5k sf, Sprouts Farmers Market-anchored urban village in Scottsdale, AZ, was acquired by an entity formed by Global Retail Investors. It was sold by Gainey Village Retail Center LLC (an entit...
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• Omninet Capital Buys Office/Medical Property in Oxnard
12/19/19
Omninet Capital LLC purchased Solar Drive Business Park, a 136.7k sf, Class A three-building office/medical office property in Oxnard. The property is located at 1901, 2001 and 2051 North Solar Dr, south of Hwy 101 and west o...
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• L.A. Area Multifamily Portfolio Financed with $35.6 Mil in Fannie Mae Money
12/19/19
Berkadia arranged $35.6 mil in financing, including an $18.1 mil cash out, on a 10-property, 305-unit multifamily portfolio in the Los Angeles area. The properties are located in Los Angeles, Santa Monica and the San Fernando...
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• Affordable Housing Property in Seattle’s Downtown Sells for $146k/Unit
12/18/19
Cadence Real Estate paid $13 mil for The Lowman Building, an 89-unit ($146k/unit) affordable housing property in Seattle. The property is located at 107 Cherry St, west of I-5 between downtown and Pioneer Square.
Built in 19...
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• Oceanside Biz Park Attracts $20 Mil Buyer
12/17/19
Copperwood Center, a 141k sf industrial park in Oceanside, was acquired by Newport Beach-based CB Copperwood LLC for $20.05 mil, or $142/sf. Located at 3365, 3375 and 3385 Mission Ave, and 101, 102, 105, 106 and 110 Copperwoo...
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• Flagship Starbucks Property in Mammoth Lakes Sells for Over $1,000/sf
12/17/19
A 4.4k sf, flagship resort location Starbucks with a drive-thru located in Mammoth Lakes, CA sold for $4.725 mil, which works out to a price of $1,065/sf. The buyer was a San Diego-based private investor.
Built in 1984 and r...
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• Almanac Realty Investors to Provide up to $300 Mil of Capital to CIP Real Estate
12/16/19
CIP Real Estate has entered into an agreement with a fund managed by Almanac Realty Investors LLC to provide up to $300 mil of growth capital to CIP to accelerate its investment strategy of acquiring value-add multi-tenant in...
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• Sacramento Area Retail Center Purchased for $11 Mil by SoCal Investors
12/13/19
A 61k sf, triple-net retail property in Carmichael, CA was acquired by Diamond Developers LLC, a SoCal-based group of private investors, in an $11 mil ($180/sf) transaction. The property, Carmichael Center, is located at 7223...
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• Alaskan Investor Buys Single-Tenant TX Industrial Facility
12/13/19
A private investor from Alaska purchased a 60k sf, mission critical, industrial distribution facility located at 4905 Winnebago Lane in Austin, TX. The single-tenant facility is leased to ABC Supply Company, a leading distrib...
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• Single-Tenant Vegas Office Building Trades for $274/sf
12/13/19
A 66.8k sf, single-tenant office building triple net leased to Shift4 in Las Vegas sold for $18.3 mil, or $274/sf. The building, constructed in 1993, was purchased by a private investor and sold by Las Vegas-based Moonwater C...
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• Retail Real Estate Pro John Jay Passes at 72
12/12/19
It is with great sadness we report the passing of John Jay, President and COO of Oakland-based Jay-Phares Corporation (JCP). A regular on the retail panels at RENTV’s Oakland / East Bay conferences, Jay was 72 years old.
Jay...
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• El Segundo Building Leased Up after Creative Office Renovation
12/11/19
Following a year-long construction effort, EverWest Real Estate Investors has completed and fully leased 1925 East Maple. Located immediately southeast of Los Angeles International Airport, the $24 mil adaptive reuse project ...
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• Premier Workspaces Opens New Anaheim Hills Location
12/09/19
Irvine-based Premier Workspaces has opened its newest location in Anaheim Hills. Premier took over management of the shared workspace, located at 155 N. Riverview Dr. Premier is one of the largest privately-owned flexible wor...
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