| NFI Industries Renews Lease at 864k sf Industrial Facility in Perris
NFI Industries, a supply chain solutions provider, has inked a lease renewal for Perris Distribution Center, an 864k sf industrial facility in Perris. Located at 657 Nance St, Perris Distribution Center is a two-story cross-d...
| Arizona Industrial Project Secures $42.7 Mil in Construction Financing
SkyPlus Development Corp has obtained $42.7 mil in construction financing for two industrial buildings that will be part of Skybridge Arizona's master-planned development adjacent to the Phoenix-Mesa Gateway Airport in Mesa, ...
| Avanti Residential and Trinity Investors Recapitalize Colorado Res Community
Avanti Residential has partnered with Trinity Investors in the $45 mil acquisition and recapitalization of Sunset Peak Apartment Homes, a 184-unit multi-family community located north of downtown Denver in Thornton, CO. The p...
| Anthem Development Lands $63 Mil in Joint Venture Equity and Debt for TX Res Development
Anthem Development has obtained $63 mil of joint venture equity and debt for the acquisition and development of Lofts iThirty, a planned 340-unit luxury multifamily property located on 10.4 acres at the Northwest corner of Br...
| Provender Partners and StepStone Real Estate Complete $158 mil Recapitalization of 1 msf Cold Storage Portfolio
Provender Partners (Provender) and StepStone Real Estate (SRE) have completed a $158 mil secondary and recapitalization of a 1 msf cold storage portfolio with assets in the high-growth industrial markets of: Oakland, CA; Las ...
| Leasehold Interest in Whittier Multifamily Community Goes for Almost $50 Mil
NextGen Properties Group purchased the leasehold interest for Alivia Apartments, a 128-unit multifamily property in Whittier, in a recent $49.625 mil ($387.7k/unit) transaction. The property, located at 11201 Carmenita Rd, wa...
| Basis Investment Group Becomes Equity Partner in Santa Monica Development Site Portfolio
Tishman Speyer has secured the Basis Investment Group (BIG) as an equity partner in the Santa Monica Collection, its portfolio consisting of eight development sites across nearly 3.1 acres in Downtown Santa Monica.
| UCLA Acquires Former Marymount California University Campus in $80 Mil Deal
The University of California (UCLA) has acquired the former Marymount California University (MCU) campus in Rancho Palos Verdes in an $80 mil transaction. Overlooking the Pacific Ocean, the coastal property comprises 24.57 ac...
| Copper State Bolt & Nut Leases 94k sf Industrial Facility in Phoenix
Copper State Bolt & Nut, a manufacturer and distributor of fasteners and related products in North America, has leased a 94.2k sf industrial/warehouse facility in Phoenix. Terms of the deal were not disclosed.
The property, ...
| Work Finished on Class A Industrial Development in Mesa, AZ
Construction has been completed at Elliot Gateway, a four-building logistics development in Mesa, AZ. Developed by Trammell Crow Company and CBRE Investment Management, the Class A park sits on a 40.5-acre site at 9020 East E...
| Trion Properties Spends $23.6 Mil on Sacramento Multifamily Property
In a recent Sacramento res buy, Trion Properties paid $23.6 mil for Courtyard at Artisan Square, a 104-unit ($227/sf) community. The property is located at 1503 Fulton Ave, within the Arden-Arcade submarket.
Constructed in 1...
| Zeitlin Capital Pays $22 Mil for Two-Building AZ Office Portfolio
In a recent AZ office deal, Zeitlin Capital purchased a 136.7k sf, multi-tenant Class A office portfolio in Chandler for $22 mil, or $161/sf. The properties were sold by Mass Equities.
The portfolio consists of two two-story...
| Birtcher Development Lands Entitlements for 330k sf Inland Empire Industrial Project
Birtcher Development has secured entitlements for Birtcher Logistics Center Fontana, a planned 330k sf industrial development in Fontana. Construction is expected to begin on the state-of-the-art distribution facility in the ...
| MG Properties Picks Up 312-Unit Res Community in Vegas for $81 Mil
MG Properties has acquired Tribeca North Apartment Homes, a 312-unit res community in North Las Vegas, for $81 mil ($260k/unit). The property is located at 3825 Craig Crossing Dr, east of Hwy 95 and north of the Vegas Strip.
| West Covina Res Property Sells for $450k/Unit
South Hills Apartments, an 85-unit apartment property in West Covina, was purchased for $38.25 mil ($450k/unit) by HFH Ltd, a 1031 exchange buyer.
Built in 1966 on five-plus acres and remodeled in 2019, South Hills Apartment...
| BentallGreenOak Buys Newly Constructed Sacramento Industrial Project
BentallGreenOak acquired Metro Air Park Logistics Center - Phase I, consisting of two new Class A industrial buildings totaling 308.8k sf in Sacramento. The asset was sold by Badiee Development in a deal said to be worth arou...
| Barings Spends $42 Mil on Recently Developed AZ Industrial Facility
Barings has purchased a newly built, 197k sf Class A industrial project known as Warner Commerce Center in Tempe, AZ for $42.4 mil ($215/sf). The property sits on a 18-acre infill site at 1300 and 1330 W. Warner Rd.
| Commercial Real Estate Financing Briefs
IBORROW – iBorrow has provided a refi loan of $17.38 mil on two mid-renovation multifamily communities located in Southern California. The bridge loan will be used to refinance the borrower’s existing debt, while also providi...
| Morgan Stanley Pays Over $1,500/sf for Menlo Park Office Building
In a recent Bay Area office buy, Morgan Stanley purchased a 44.7k sf building in Menlo Park for $68 mil, or $1,521/sf. The property is fully occupied by Menlo Medical Clinic, a partner with Stanford Health Care.
| LPC Desert West and Harvard Investments Break Ground on 7 msf AZ Industrial Development
Lincoln Property Company’s Southwest division, LPC Desert West, and Scottsdale-based Harvard Investments have broken ground on Phase One of Goodyear AirPark. Located on 565 acres adjacent to the Phoenix-Goodyear Airport in Go...