LAKE FOREST, CA—Los Angeles-based the Mayfield Trust has sold Foothill Center, a 19,400-square-foot multi-tenant shopping center here, to a China-based buyer for $7.64 million. The center is 95% occupied with tenants including Baja Fresh, Enterprise Rent-A-Car, and Wasabi Sushi. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, while the buyer represented itself in the transaction. The sale price had an in-place cap rate of 4.81%, a record low for a non-anchored retail strip center sale in south Orange County, industry sources say.

WEST HOLLYWOOD, CA—Charles Dunn Co. has completed two multifamily property sales totaling $4.7 million here. The sales include a 10-unit property at 1220 N. Formosa Ave. that sold for $3.3 million and a five-unit property at 1231-1235 N. Vista St.that sold for $1.4 million. For the Formosa sale, Kimberly Roberts Stepp, senior managing director with Charles Dunn, represented the seller, Los Angeles-based Aquat 9 LLC, as well as the 1031 exchange buyer, a Los Angeles-based private investor. The transaction closed at a 4.8% cap rate and sold at full asking price. For the Vista sale, Stepp represented the seller, Los Angeles-based Jambax LLC. The buyer was a private investor from Los Angeles who was represented by Diana F. Tiao of the Collective Realty. The transaction closed at a record-low 2.9% cap rate.

YAKIMA, WA—Emerald Holdings LLC has sold the Guesthouse Inn & Suites at 1010 E. A St. here to an unnamed buyer for $2.1 million. Joseph P. Kennedy, president of Crystal Investment Property LLC, exclusively represented the seller. The two-story, 50-key hotel was built in 1998 as an independent hotel and converted to a Guesthouse Inn & Suites in early 2013.

SANTA ROSA, CA—The STG Group has completed a $13.4-million acquisition of a five-building office portfolio here from longtime owner Sausalito-based Berg Holdings Corp. Shawn Johnson, Joel Jaman and Danny Jones of Keegan & Coppin/ONCOR International brokered the deal for Berg Holdings, while Jones represented STG. The buildings contain a total of 169,000 square feet, equating to a price per square foot of approximately $80 for the properties, which were about half occupied at the time of sale, with 80,000 square feet available for lease. STG plans upgrades to attract tenants and has solicited designs for revamping the common areas and exteriors of the buildings. The most prominent of the five Santa Rosa office buildings is 100 B Street downtown. Other properties included in the purchase include 130 and 140 Stony Point Rd. and 141 and 149 Stony Circle.

ANAHEIM, CA—Air Conditioning and Refrigeration Joint Trust has sold a 38,000-square-foot office building on 4.4. acres of land at 1380 Sanderson Ave. here for $7.5 million to an undisclosed buyer. CBRE's Gary Stache, Pat Scruggs, and Tom Abel represented the seller in the transaction. The two-story office building is located off the 57 freeway at the Ball Rd. exit.

DEVELOPMENT

SAN DIEGO—Parallel Capital Partners is nearing completion on $12 million in renovations of its Creative Collection, a portfolio of 26 creative-office, R&D and lab buildings totaling 577,596 square feet in Sorrento Valley and nearby Rancho Bernardo. The properties have been renovated to reflect the growing trend toward creative-office space. Refurbishments were completed to interior spaces and exteriors of all buildings in the portfolio, with key architects including Ware Malcomb, McFarlane Architects, Pacific Cornerstone Architects, Smith Consulting Architects and general contractors including Burger Construction, Pacific Building Group, ICS Pacific Builders and Prevost Construction. The properties include buildings in Sorrento Creative Center, Sorrento Pines and One Technology Place.

BAKERSFIELD, CA—Presidio Residential Capital has partnered with San Diego-based development company Cornerstone Communities to build Tuscany Village, two communities totaling 212 single-family homes on 73 acres in northwest Bakersfield. Cornerstone recently closed on 116 lots and is expected to close on the remaining 96 lots in October 2014. Presidio has committed $7.8 million to help build this community. Land development begins this month, and construction of model homes will follow in September, with a grand opening planned for December. Urban Land Advisers is the seller and broker for the project.

LEASING

SAN DIEGO—Beauty retailer ULTA and men's salon 18|8 have signed leases with Regency Centers at 4S Commons Town Center here. 18|8 is scheduled to open in July, offering services that include hair care, facials, skin treatment and hot shaves, while ULTA's 10,000-square-foot space is scheduled to open this fall.

SANTA ANA, CA—Goodwill Industries of Orange County has expanded its lease for 37,228 square feet of industrial space at 2250 S. Yale St. here. The organization will occupy a total of 72,416 square feet of space for its e-commerce and retail warehousing center. JLL Orange County's Matt Christensen represented Goodwill in the transaction. The landlord, Skeffington Enterprises Inc., was represented by CBRE.

MORENO VALLEY, CA—National action sports retailer Tilly's has opened its doors at Moreno Valley Mall,occupying 7,148 square feet at the shopping center, which is managed by Spinoso Real Estate Group. The space is located on the lower level near Macy's and Harkins Theatres.

FINANCING

KENNEWICK, WA—Premier Capital Associates LLC has arranged and $11.5-million construction loan for the SpringHill Suites by Marriott here on behalf of an unnamed borrower, to be built adjacent to the Convention Center. The loan will convert into a permanent loan. This property falls in line with a noticeable uptick in convention center hotel construction.  JLL is counting five such major properties scheduled to open by 2017.

SALINAS, CA—Kenneth M. Fox, CCIM, a managing director in Cohen Financial's local office, has secured $10.75 million to refinance two retail properties here on behalf of a San Francisco Bay Area investor/owner: the South Salinas Plaza Shopping Center, a Nob Hill Foods anchored center, and the Plaza Shopping Center, a CVS drugstore-anchored center. Both properties are established, fully leased retail centers. Fox originated the two fixed- rate, non-recourse loans with Sun Life Financial, a Cohen Financial correspondent lender.

LOS ANGELES—Thorofare Capital has provided a Los Angeles-based healthcare operator with a $9-million short-term loan to refinance two of its Los Angeles-area skilled-nursing facilities. The financing was used to retire existing senior secured term loans and fund approximately $300,000 in planned capital improvements across both properties. The sponsor was seeking a fast-paced lender to pay off a matured term loan, then implement a renovation plan, and allow for ample time in order to refinance through HUD on a permanent loan program. The loan is secured by a 20,277-square-foot, 99-bed nursing facility located on Pico Blvd. near Koreatown and a 16,584-square-foot, 81-bed nursing facility on North Fairfax Ave.

EXECUTIVE MOVES

SAN MATEO, CA—Builder C.W. Driver has promoted Andy Kirby to director of operations in the firm's local office. The 15-year industry leader will oversee projects within the company's growing Northern California office focused on the areas of education, corporate office, retail, multi-family, mixed-use, healthcare, assisted living, civic, entertainment and hospitality. As an expert in design-build projects, Kirby is currently directing several projects with new and existing clients in the Northern California area. His project history with the firm includes Family Health Centers City Heights II Family Health Center, MCB Camp Pendleton Truck Co. operations complex and dining hall, Sharp Grossmont Healthcare District's east tower nursing unit and Palomar Pomerado Health & Pacific Medical Building, Ramona medical-office building.

SAN FRANCISCO—International design firm Steinberg has hired Asheshh Saheba as a principal of its local office. Saheba has two decades of experience as a design architect, including five years in the San Francisco Bay Area, most recently as design director at Hendel Architects LLP.