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/873170
C A L I F O R N I A & H A WA I I 10 • September 2017 • Western Real Estate Business www.REBusinessOnline.com PSRS CLOSES $3 MILLION LOAN FOR TWO-TENANT RETAIL BUILDING WESTWOOD, CALIF. — Pacific South- west Realty Services (PSRS) has closed a $3 million loan for the refinancing of a two-tenant retail center located at 1055-1059 Broxton Ave. in Westwood. The property is designated as a res- taurant property. Kostas Kavayiotidis of PSRS ar- ranged the 10-year refinancing with a long-term correspondent life com- pany. NEWMARK MERRILL BRINGS AZI GRILL TO JANSS MARKETPLACE THOUSAND OAKS, CALIF. — New- Mark Merrill Cos. has signed a new restaurant at Janss Marketplace, a shopping center located at the Moor- park Road and Hillcrest Drive in Thousand Oaks. Azi Grill, owned by Mazen Nadour, will feature authen- tic Mediterranean cuisine, as well as American fare. CAPITAL ONE PROVIDES $77.7 MILLION REFINANCING FOR NINE-PROPERTY PACIFICA PORTFOLIO SAN DIEGO — Capital One has pro- vided a $77.7 million loan to refinance a portfolio of nine seniors housing fa- cilities in Arizona, California, Florida, Oregon and Utah. The mortgage con- sists of $67.7 million in initial funding and an earn-out as specific conditions are met. The borrower is Pacifica Cos., a San Diego-based real estate developer, owner, investor and investment man- agement with properties in office, industrial, retail, net-leased single- tenant, multifamily, residential, se- niors housing and hospitality, as well as land for development. Its seniors housing division is named Pacifica Se- nior Living. The specific names of the proper- ties were not disclosed. Specializing in assisted living and memory care, Pacifica Senior Living manages doz- ens of communities in Arizona, Cali- fornia, Florida, Georgia, Idaho, Ne- vada, New Mexico, North Carolina, Oregon, Rhode Island, Texas, Utah and Virginia. ANCHOR HEALTH PROPERTIES PURCHASES FLETCHER PARKWAY MEDICAL CENTER SAN DIEGO — Anchor Health Prop- erties has purchased Fletcher Parkway Medical Center, an 82,024-square- foot, mission-critical medical office building in the San Diego suburb of La Mesa for an undisclosed sum. The building is situated adjacent to Sharp Grossmont Hospital, just north of the Interstate 8/California 125 inter- change. Fletcher Parkway is anchored by Sharp HealthCare. The asset features services like Surgical Care Affiliates (SCA) surgery center, radiology, labo- ratory, diagnostics, cardiology, pedi- atrics, ophthalmology, rehabilitation and hospice. HFF's Evan Kovac, Andrew Milne and Trent Jemmett represented the seller, the Abbey Company, in this transaction. CBRE, NRP-WEST ARRANGE SALE OF GROCERY-ANCHORED SHOPPING CENTER BAKERSFIELD, CALIF. — CBRE in conjunction with the National Retail Partners-West (NRP-West) team has brokered the sale of Riverlakes Village, a grocery-anchored shopping center in Bakersfield. Crow Holdings Capi- tal Real Estate sold the 92,212-square- foot property to Phillips Edison Gro- cery Center REIT II for an undisclosed price. At the time of sale, the center was 97 percent leased to a variety of ten- ants, including Vons, CVS/pharmacy, US Bank, Starbucks Coffee, Chipotle, Supercuts, Verizon Wireless, Carl's Jr. and Bank of America. Built in 1997, Riverlakes Villages consists of six parcels total 9.48 acres at the southeast corner of Coffee and Hageman roads. Philip Voorhees, Preston Fetrow, Kirk Brummer, Jimmy Slusher, Megan Wood, Matt Burson, Sean Heitzler, James Tyrrell and John Read of CBRE and the NPR-West team represented the seller. cbre.us/retail @cbreRetail Jeff Moore Senior Managing Director and Retail Market Leader, Southern California and Hawaii T +1 949 725 8600 CBRE knows Retail. Through our industry leading perspectives, deep Retail expertise and robust analytics, we deliver outcomes that drive business and bottom-line performance for every client we serve. How can we help transform your real estate into real advantage? RETAIL SCIENCE FROM CBRE