Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/888015
C A L I F O R N I A & H A WA I I www.REBusinessOnline.com Western Real Estate Business • October 2017 • 15 DINAPOLI CAPITAL PARTNERS SELECTS INTEGRAL SENIOR LIVING TO MANAGE COMMUNITY IN FULLERTON FULLERTON, CALIF. — DiNapoli Capital Partners has selected Califor- nia-based Integral Senior Living (ISL) as ther operator for Sunnycrest Senior Living, an independent living and as- sisted living community in the Los Angeles suburb of Fullerton. The com- munity features 130 units and is locat- ed adjacent to St. Jude Medical Center. The community recently underwent a remodeling project throughout the apartments and common areas. This is the third partnership in California be- tween ISL and DiNapoli. ISL currently manages 60 seniors housing commu- nities in Arizona, California, Colora- do, Florida, Georgia, Hawaii, Idaho, Indiana, Kansas, Michigan, Missouri, Nevada, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah and Washington. HANLEY INVESTMENT GROUP ARRANGES $22.2 MILLION SALE OF RETAIL CENTER IN RIVERSIDE RIVERSIDE, CALIF. — Hanley Invest- ment Group Real Estate Advisors has arranged the $22.2 million sale of Mi- chaels Plaza, a 62,952-square-foot re- tail center located adjacent to the 1.2 million-square-foot Galleria at Tyler Mall in the Inland Empire commu- nity of Riverside. The property was 98 percent occupied at the time of sale by tenants including Michaels, David's Bridal, Lamps Plus, Armed Forces, The Flame Broiler, GameStop and Miracle Ear. Ed Hanley, Bill Asher and Kevin Fryman of Hanley Invest- ment represented the seller, an affili- ate of The Krausz Companies Inc., in the transaction. Jefferson Kim of jKim Group Inc. represented the buyer, a private investor from Fullerton. PARADIGM TALENT AGENCY LEASES OFFICE SPACE IN BEVERLY HILLS LOS ANGELES — Paradigm Talent Agency has leased 83,000 square feet of office space in Beverly Hills. The space is located at 8942 Wilshire Blvd. within the Wilshire La Peer Building. Paradigm will use the entire building for its headquarters. The company plans to make significant capital reno- vations to the property. It anticipates taking occupancy in the spring 2018. The agency is consolidating three lo- cations into one space. NKF's Michael Moll, CBRE's Jeff Pion and BCRS's Willa McNamarra Fields represented the talent agency, while LA Realty Partner's Peter Best, Lisa St. John and Rick Buckley represented the build- ing owners, Ocean West and Walton Street, in this transaction. RIVERSIDE INDUSTRIAL BUILDING SELLS FOR $28.2 MILLION RIVERSIDE, CALIF. — MAT Holdings Inc. has purchased a 303,100-square- foot industrial building in Riverside for $28.2 million. The Class A facility is located at 6975 Sycamore Canyon Blvd. The company plans to use the building as its West Coast distribu- tion center. The seller was Investment Building Group. SHORENSTEIN CO. ACQUIRES SAN FRANCISCO CREATIVE OFFICE BUILDING SAN FRANCISCO — Shoren- stein Company has purchased an 89,904-square-foot creative office building in the San Francisco sub- market of North Waterfront-Jackson Square for an undisclosed sum. The building is located at 901 Battery. The Swig Company and Medley Partners purchased the asset in December 2012. The JV immediately executed a capi- tal investment program designed to reposition the four-story building as an institutional-quality asset in a sub- market growing in popularity with creative tenants. The team recently completed a seismic retrofit, lobby and façade renovations, and upgrades to each tenant floor. The renovated building features large, open floor- plates, natural light and high ceilings. NKF's Kyle Kovac, Michael Taquino, Daniel Cressman and Mandy Lee rep- resented the sellers in this transaction. WE HAVE FUNDED OVER $430 MILLION IN COMMERCIAL REAL ESTATE LOANS THE LAST 3 YEARS! Money360 is a direct lender with proprietary capital that ensures certainty of execution. We specialize in custom solutions for income-producing properties in transition. Bridge and permanent loans from $1M to $20M, direct nationwide lender. FEATURES: • Loan to value up to 75% • Terms of 1 year to 10 years • Primary, secondary and tertiary markets • Non-recourse available • Flexible prepayment penalties • Interest-only payments (Bridge) HOTEL RETAIL INDUSTRIAL OFFICE IRVINE, CA MORRIS COUNT Y, NJ DAY TON, OH FAYE T TE VILLE, NC $9.7M Bridge Loan 2 years • 65% LTV $1.9M Permanent Loan 5 years • 73% LTV $7.5M Bridge Loan 2 years • 75% LTV $17M Bridge Loan 3 years • 75% LTV Specialists in structuring creative financing solutions to meet borrowers' needs Custom solutions and quick funding (888) 908-2864 • money360.com/loans • loans@money360.com