Publication: RENTV.com

First reported 3 hours ago - Updated 1 hour ago - 1 reports

MetLife Acquires Class A Office Asset in Plano, TX

In an institutional office buy out of Texas, a subsidiary of MetLife Inc purchased Plaza at Legacy, a Class A office tower located at 5465 Legacy Dr, within the premier Legacy Business Park in Plano. The price was not disclosed.The seven-story, 215.5k ... [Published RENTV.com - 3 hours ago]
First reported 2 hours ago - Updated 2 hours ago - 1 reports

Sonoma Apartment Property Sells for $183k/Unit

Sonoma Mission Apartments, a 43-unit apartment property located in Sonoma, sold for $7.85 mil ($182.5k/unit). The property, located at 18161 Happy Lane, just west of Sonoma Hwy, was sold by a private investor.The property consists of four buildings containing ... [Published RENTV.com - 2 hours ago]
First reported 2 hours ago - Updated 2 hours ago - 1 reports

PM Realty Group Takes Multifamily Management In-House

Joan Maxwell has been hired by PM Realty Group as Senior Vice President, as part of the firm’s move to bring property management services in-house for its multi-family division. Maxwell, a 30-year industry veteran, will work with PMRG Executive Vice President ... [Published RENTV.com - 2 hours ago]
First reported 3 hours ago - Updated 3 hours ago - 1 reports

Newmark Realty Capital Arranges $28 Mil in Construction Money for San Francisco Office Project

Newmark Realty Capital has arranged $28.5 mil in construction financing for 85 Bluxome, a ground-up office development in the SoMa submarket of San Francisco. 85 Bluxome will be a Class A, 55k sf office building, a rarity for both its size and class in ... [Published RENTV.com - 3 hours ago]
First reported 6 hours ago - Updated 6 hours ago - 1 reports

Private Investor Pays $44k/Unit for Hemet Multifamily Property

Park Columbia Apartments, a 151-unit apartment community in Hemet, recently sold for $6.6 mil, or $43.7k/unit. The property was purchased free and clear of debt by Srinivas Yalamanchili, a private investor.Park Columbia is located at 201 South Columbia ... [Published RENTV.com - 6 hours ago]
First reported Sep 17 2014 - Updated Sep 17 2014 - 1 reports

PPG Aerospace Renews 83k sf Valencia Space

PPG Aerospace, a division of PPG Industries Inc, signed a seven-year, $6.5 mil lease renewal for 83k sf ($0.87/sf/mo) of industrial space in Valencia. Located at 24811 Avenue Rockefeller, PPG uses the highly customized space for its aeronautics manufacturing, ... [Published RENTV.com - Sep 17 2014]
First reported Sep 17 2014 - Updated Sep 17 2014 - 1 reports

Shea Properties Collects $14 Mil from Final Office Building Sales at Aliso Viejo Town Center

Shea Properties has completed the disposition of its holdings at Aliso Viejo Town Center with the recent sales of the last two buildings, in deals with a combined value of roughly $13.925 mil. One of the buildings, a 34k sf asset at 26940 Aliso Viejo ... [Published RENTV.com - Sep 17 2014]
First reported Sep 16 2014 - Updated Sep 16 2014 - 1 reports

Thorofare Capital Funds $3 Mil Bridge Loan for AZ Retail Buy

Thorofare Capital has funded a $3.1 mil bridge loan for acquisition, renovation, and lease-up of Westridge Park Plaza, a 58.7k sf retail property located in Phoenix, AZ. The loan was made on behalf of a Los Angeles-based real estate investor.Westridge ... [Published RENTV.com - Sep 16 2014]
First reported Sep 16 2014 - Updated Sep 16 2014 - 1 reports

Warehouse Property in National City Bought for $2.8 Mil

A private investor paid $2.8 mil for a 25k sf industrial/warehouse property on a 1.87-acre parcel of land in National City. The property is located at 326 W. 30th St, just east of I-5 and north of the 54 Fwy.Mark Lewkowitz and Chris Holder of Colliers ... [Published RENTV.com - Sep 16 2014]
First reported Sep 16 2014 - Updated Sep 16 2014 - 1 reports

Fullerton Retail Asset Sells for Over $48 Mil

Shin Yen International Pty Ltd purchased Amerige Heights Town Center, a 163.5k sf dual grocery-anchored retail center in Fullerton. The property, situated on 15.2 acres at 1895-1897 West Malvern Ave, sold for $48.5 mil ($297/sf), free and clear of de ... [Published RENTV.com - Sep 16 2014]
First reported Sep 16 2014 - Updated Sep 16 2014 - 1 reports

CBRE Arranges $16.8 Mil in Refi Money for Bakersfield Affordable Housing Property

Golden Empire Affordable Housing Inc (GEAHI) has obtained $10.64 mil in refi money for Auburn Heights Apartments, an affordable apartment community located in Bakersfield. The loan was arranged by CBRE Group and funded through HUD’s Section 223(f) Low ... [Published RENTV.com - Sep 16 2014]
First reported Sep 16 2014 - Updated Sep 16 2014 - 1 reports

San Clemente Affordable Housing Project Completed

Cotton’s Point Senior Apartments, a 76-unit, affordable housing community for seniors aged 62+ in the seaside community of San Clemente, has been completed. The $32.4 mil project, located at 2358 N. El Camino Real, is a development of Meta Housing Co ... [Published RENTV.com - Sep 16 2014]

Quotes

"According to our research, this is the lowest cap rate for a brand new Chase Bank ground lease in the country in recent years. It is a testament to the premium location in highly-coveted South Orange County, and unprecedented cap rate compression due to current supply and demand, and alternative investment drivers" added Selznick
...will set this building apart from other buildings of this type downtown that rely primarily on stucco as their cladding material," said Senden. "Oversized curtains on the exterior of the amenity's space add a bit of whimsy along with shading the large expanses of glass from the southerly sun."
Commented Weinert, "Our team at Johnson Capital is positioned to place another $100 mil of similar development investments over the next 12 months in residential transactions that involve demolishing aging housing structures, that use existing density bonus incentives which may expire, and that are infill urban locations near major transportation and job hubs. These projects not only will accommodate the growing demand for urban housing in the Los Angeles metropolitan area, but they also have the potential to deliver significant returns to the equity stakeholders."
"We still have a strong demand for more retail and services," Sharon Paisley, Development Director at the CityCity of San Jacinto, said. "There is a wealth of available land for development, reasonable property costs, and prime redevelopment opportunities. Coupled with easy access to major transportation corridors and our pro-business environment, make San Jacinto an ideal place to start, expand or relocate a business."

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PM Realty Group Takes Multifamily Management In... [Published RENTV.com - 2 hours ago]
Sonoma Apartment Property Sells for $183k/Unit [Published RENTV.com - 2 hours ago]
MetLife Acquires Class A Office Asset in Plano, TX [Published RENTV.com - 3 hours ago]
Newmark Realty Capital Arranges $28 Mil in Cons... [Published RENTV.com - 3 hours ago]
Private Investor Pays $44k/Unit for Hemet Multi... [Published RENTV.com - 6 hours ago]
Shea Properties Collects $14 Mil from Final Off... [Published RENTV.com - Sep 17 2014]
PPG Aerospace Renews 83k sf Valencia Space [Published RENTV.com - Sep 17 2014]
Thorofare Capital Funds $3 Mil Bridge Loan for ... [Published RENTV.com - Sep 16 2014]
Premier Business Centers to Open Second Locatio... [Published RENTV.com - Sep 16 2014]
San Clemente Affordable Housing Project Completed [Published RENTV.com - Sep 16 2014]
San Clemente Retail Center Gets a Buy with a Li... [Published RENTV.com - Sep 16 2014]
Fullerton Retail Asset Sells for Over $48 Mil [Published RENTV.com - Sep 16 2014]
CBRE Arranges $16.8 Mil in Refi Money for Baker... [Published RENTV.com - Sep 16 2014]
Warehouse Property in National City Bought for ... [Published RENTV.com - Sep 16 2014]
Portland Apartment Project Lands $72 Mil in Dev... [Published RENTV.com - Sep 15 2014]
Pacific Southwest Realty Services’ Arranges $8 ... [Published RENTV.com - Sep 15 2014]
TargetExpress on Target for Thee Bay Area Store... [Published RENTV.com - Sep 15 2014]
Habitat for Humanity Leases 30k sf Torrance Space [Published RENTV.com - Sep 15 2014]
Newcastle Partners Buys 13 Acres of Development... [Published RENTV.com - Sep 15 2014]
Festival Companies Acquires 32k sf Sherman Oaks... [Published RENTV.com - Sep 15 2014]
CBRE Finance Team Arranges $46 Mil in Three CMB... [Published RENTV.com - Sep 12 2014]
CO Grocery-Anchored Center Sells for $12.4 Mil [Published RENTV.com - Sep 12 2014]
First Industrial Acquisitions Inc Buys 225k sf ... [Published RENTV.com - Sep 12 2014]
Guthrie Development Company Buys 221k sf Ontari... [Published RENTV.com - Sep 12 2014]
Work Started on Playa Vista Retirement Community [Published RENTV.com - Sep 12 2014]
Adler Completes Both Legs of a 1031 Exchange wi... [Published RENTV.com - Sep 12 2014]
Carlsbad Retail Center Lands $7.5 Mil in Financing [Published RENTV.com - Sep 12 2014]
USAA Real Estate Company’s 1.5 msf Ind Portfoli... [Published RENTV.com - Sep 11 2014]
Swig Company Signs Three at downtown LA Creativ... [Published RENTV.com - Sep 11 2014]
Torrance Retail Center Trades Hands in $11.5 Mi... [Published RENTV.com - Sep 11 2014]
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