Western Real Estate Business

MAY 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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C A L I F O R N I A 8 • May 2018 • Western Real Estate Business www.REBusinessOnline.com ARRIBA CAPITAL ARRANGES $5.3 MILLION ACQUISITION LOAN FOR MULTIFAMILY PROPERTY IN BEVERLY HILLS BEVERLY HILLS, CALIF. — Arriba Capital has arranged a $5.3 million loan for the acquisition of a multifam- ily property located in Beverly Hills. The borrower is a private equity real estate investment company, which plans to renovate the property. The 16-unit community was 38 percent va- cant at the time of acquisition. NEW-INDY TRIPAQ LEASES 44,172 SF OF INDUSTRIAL SPACE IN CERRITOS CERRITOS, CALIF. — New-Indy Tripaq has leased 44,172 square feet of industrial space at 12765 166th St. in Cerritos. The space will accommodate the overflow of its other Cerritos facil- ity. JLL's Cameron Driscoll and Luke McDaniel represented New-Indy Tripaq. CBRE represented the land- lord, Megaland Enterprises. GILD PROPERTY GROUP BROKERS $4.3 MILLION SALE OF RETAIL BUILDING IN SOUTHERN CALIFORNIA SAN DIEGO — Gild Property Group has arranged the $4.3 million sale of a retail building located at 1065 5th Ave. in San Diego. Tony Gild of Gild Prop- erty Group arranged the transaction on behalf of the seller, Maman Family Trust. 1065 5th Avenue LLC acquired the 20,000-square-foot building. BLUEPRINT ARRANGES $19 MILLION SALE OF 110-UNIT SENIORS HOUSING COMMUNITY IN SONOMA COUNTY HEALDSBURG, CALIF. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Healdsburg Se- nior Living Community, a 110-unit as- sisted living, memory care and skilled nursing campus in the Sonoma Coun- ty city of Healdsburg. Sitting on ap- proximately seven acres, the commu- nity features 40 assisted living units, 32 memory care beds and 38 skilled nursing beds. A global private real estate investment firm with a large national seniors housing portfolio ac- quired the property for $19 million, or $173,000 per bed. The seller was not disclosed, though the property is fea- tured on Pacifica Senior Living's web- site. Mario Wilson and Christopher Hyldahl of Blueprint led the transac- tion. HANLEY INVESTMENT GROUP BROKERS $20.7 MILLION SALE OF SHOPPING CENTER NEAR LOS ANGELES LA VERNE, CALIF. — Hanley Invest- ment Group Real Estate Advisors has arranged the sale of La Verne Court- yard, an 84,368-square-foot shopping center in La Verne, located 30 miles east of Los Angeles. The sales price was not disclosed, but reports have it that Evan & MC LLC acquired the asset from Charles Co. for $20.7 mil- lion. Ed Hanley, Bill Asher and Kevin Fryman of Hanley arranged the trans- action on behalf of the seller, while Wendy Wong and Katherine Quach of Treelane Realty Group represented the buyer. La Verne Courtyard was 97 percent leased at the time of sale to tenants such as Aldi, Orchard Supply Hardware, Jersey Mike's Subs, Pacific Dental, OneMain Financial, Pizza Hut and Rubio's. GEORGE SMITH PARTNERS SECURES $45 MILLION IN FINANCING FOR SAN FRANCISCO PROPER HOTEL SAN FRANCISCO — George Smith Partners has secured $45 million in bridge refinancing for the 131-room San Francisco Proper Hotel in the city's Mid-Market neighborhood. The flatiron building is located at 1100 Market St. at the triangle of McAllister, Market and Seventh streets. The new bridge loan will allow the borrower, Kor Group, to focus on its operations and further establish the property as a luxury lifestyle hotel in San Francisco. The funds will replace an existing con- struction loan and mezzanine facility, providing cost savings and flexibility for Kor. Malcolm Davies, Evan Kinne, Zack Streit, Rachael Lewis, Alexander Rossinsky and Minjoo Kim of George Smith Partners arranged the financ- ing. Southern California most Important Regional Hub for Trucking, logistics, Housing & Retail Opportunities. The Right ty at the Right Time The scal Times ranking of U.S. Cities with populations over 200,000: #1 Irvine, CA #2 Fontana, CA #9 Washington, DC #29 Las Vegas, NV #115 New York, NY FONTANA CALIFORNIA Come See Us in Las Vegas RECON ~ Booth C163M May 21-23, 2018 To Make an Appointment at RECON Economic Development Division 909-350-6741 • jedgett@fontana.org

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