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Kennedy Wilson Acquires 208 Unit Apartment Community in Central California
Global real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced that the company acquired Montiavo at Bradley Square, a 208‐unit apartment community located in Santa Maria, CA. The property was purchased for $47 million, with the company investing $10.4 million of equity in the transaction (inclusive of closing costs) and securing $37.7 million of 10 year mortgage financing on the property through Freddie Mac with a fixed rate of 3.77%, interest only for five years.
Office and Medical Leasing is Heating up in the San Fernando Valley
NAI Capital Senior Vice President Jeremy Barbakow, with the Encino office, who specializes in office and medical leasing in the San Fernando Valley, represented landlords and tenants in nine office leases in Sherman Oaks, Encino and Tarzana, eight of which were on Ventura Boulevard.
NAI Capital completed the $14.5 million sale of Tustin Medical Arts Center
NAI Capital completed the $14.5 million sale of Tustin Medical Arts Center in Tustin, Calif., on behalf of Klingbeil Medical Partners. The seller was a real estate investment firm specializing in medical office reposition opportunities. Klingbeil purchased the property through NAI Capital in 2008
Lee & Associates-LA North/Ventura Closes 32-Unit Multifamily Sale in Los Angeles
A 32-unit multifamily property in the Los Angeles community of Van Nuys has sold at an $80,000 premium over listing price after multiple offers were tendered for the property, according to Warren Berzack, president of Berzack Investment Property Advisors, www.berzackadvisors.com a multifamily specialty group of Lee & Associates-LA North/Ventura, www.lee-associates.com who represented the seller in the transaction.
Wells Fargo HomeLIFT program to help Central Valley homebuyers
Announced with Fresno Mayor Ashley Swearengin, Modesto Mayor Garrad Marsh, and Stockton Mayor Anthony Silva, Wells Fargo launched the new HomeLIFT program to help boost homeownership and strengthen Central Valley neighborhoods.
Lee & Associates-LA North/Ventura Transacts 10-Unit Multifamily Sale
A 10-unit apartment property in Thousand Oaks, CA has traded for $4,320,000 or $432,000 per unit, according to John Battle SIOR, a principal of Lee & Associates-LA North/Ventura who represented the seller, HH Sugar Shack LLC, with Lee Associate Matt Benwitt.
META HOUSING CORPORATION COMPLETES ITS FIRST FAMILY ARTS COLONY
Meta Housing Corporation has completed its first “family arts colony” apartment project - a new, 49-unit arts-focused affordable apartment community that integrates artistic live/work space in the San Pedro neighborhood of Los Angeles, California
GoPro to Anchor Cruzan’s “MAKE” Coastal Redevelopment
DTZ, a global leader in commercial real estate services, announced today that it has represented developer Cruzan in its 45,000 square foot lease with GoPro (NASDAQ: GPRO), enabler of some of today’s most engaging content, at Cruzan’s “MAKE” coastal redevelopment in Carlsbad, CA. GoPro will serve as “MAKE’s” anchor tenant.
Mercy Housing California Announces Start of Construction on a Nine-story Structure at the Former...
The Bill Sorro Community will be comprised of 67 units of affordable family housing: eight studios, 24 one-bedroom, 25 two-bedroom, and 10 three-bedroom apartments. Fourteen of the units will serve low-income adults with developmental disabilities and are being financed using the HUD 811 program.
Smart & Final Extra! Leases 42,000 SF at Lemon Grove Plaza in Oxnard
Smart & Final Extra!, a new concept store by Smart & Final that expands the space and services of the company’s brand, has signed a long-term, $13.9 million lease for 42,200 square feet in the Lemon Grove Plaza, located at 2021 N. Oxnard Blvd., Oxnard.
PowerStone Property Management Earns High Marks from Board Members on Recent Boot Camp
PowerStone Property Management Inc., a full service Orange County, California based property management firm, today announced that a recent event hosted at the Irvine DoubleTree Hotel drew OC HOA Board Members representing PowerStone managed Associations. The Seminar featured attorneys Jeffrey A. Beaumont, Esq. and Brittany A. Ketchum, Esq. from law firm Beaumont Gitlin Tashjian. Cindy Cattern, PowerStone’s Director of Community Relations, organized the event, the 4th in a series entitled Board Member Boot Camp
California Investor Buys E. Phoenix Apartments For $5.8 Million
Santerra Apartments, a 128-unit multifamily complex at 3434 E. McDowell Rd., in Phoenix has sold to a California Investor for $5,807,500 or $45,371 per door. The sale closed, March 26th. Todd Braun, Principal at Lee & Associates negotiated the transaction for the sellers, Santerra Apts, LLC of Scottsdale and for the buyer, Dynamics Capital Group of Brentwood, CA
Three Renowned Orange County Brokerage Teams Joins DTZ
DTZ, a global leader in commercial real estate services, announced today three prominent Orange County brokers and their teams have joined the firm. Executive Managing Directors (QREA) Bob Thagard, John Griffin, John Harty will form the core of DTZ’s Orange County Project Leasing teams specializing on office and industrial markets.
Lee & Associates – North San Diego County’s Principal Randy Dalby Receives 2014 Costar...
Lee & Associates – North San Diego County is pleased to announce that Principal Randy Dalby has been named a 2014 CoStar Power Broker TM by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. This annual industry award recognizes distinguished professionals in commercial real estate brokerage by highlighting the achievements of the firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2014 within their respective markets
AMERICAN REALTY ADVISORS ACQUIRES STABILIZED RETAIL SHOPPING CENTER IN DUBLIN, CA FOR $51.1 MILLION
American Realty Advisors (American), an institutional real estate investment manager with approximately $6.7 billion in assets under management, has acquired the Dublin Place Shopping Center, a 283,506 square-foot retail shopping center in Dublin, California for $51.1 million
North San Diego County Completes $1.3 Million Retail Lease on Behalf of Dollar Tree
Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a 120-month lease for a 8,720 square-foot retail space located at 2707 North Bristol Street in Santa Ana, California. The value of the lease is approximately $1,308,000
VICTORIA GARDENS BREAKS GROUND ON MODERN REDEVELOPMENT ENCOMPASSING 1.19 ACRES OF THE DESTINATION SHOPPING...
Victoria Gardens has announced that it will break ground on a full streetscape renovation encompassing 1.19 acres of the center along its Monet Avenue, according to Melina Ferraez, Director of Marketing for Victoria Gardens.
TMC Financing Provides SBA 504 Loan to San Francisco Design Firm
TMC Financing today announced the owner of humangear, inc. and Pawgear, Inc. DBA Paww financed the purchase of a 6,725-square-foot iconic creative space at 636 Shrader Street in the Upper Haight area of San Francisco, with a 20-year, fixed-rate SBA 504 real estate loan. The nearly $5 million total project cost includes the purchase price and building renovations.
UNIRE GROUP LEADS CONSTRUCTION PROJECT, INDICATIVE OF CRE INDUSTRY TREND
Unire Real Estate Group is proud to announce its management of the rehabilitation of a 228,000-square-foot industrial building in Torrance, Calif. on the highly visible intersection of South Vermont Avenue and Knox Street, near the 110 and 405-freeways. Under Unire Group’s management, contractor Norm Wilson and Sons will remove approximately 25,000 square feet of usable space off the rear of the building, creating an additional 12 dock doors from 20-32.
Liberty SBF Closes On $1.1MM SBA 504 Loan For a Hotel Acquisition in Palm...
Liberty SBF, a full-service commercial real estate finance company, recently provided a $1.1MM first lien SBA 504 Loan from its own balance sheet for the acquisition of a 24-room, 33,330 square-foot, non-flagged hotel in Palm Springs, CA. Liberty SBF also provided an interim second lien loan so the borrowers could quickly close while waiting for the second lien that will be provided by a Long Beach, CA-based Certified Development Company (CDC).