SAN DIEGO, CA—An affiliate of Urban Residential has purchased the Summerlyn Apartments, from Fairfield Township LLC for $41.2 million. The property is located in the highly desirable San Diego neighborhood of Poway, which offers access to healthy job centers, retail services and highly ranked school systems. The 154,986-square-foot complex has 193 units with a mix of one- and two-bedroom apartments. Kevin Mulhern, Dixie Hall and Rachel Parsons of the CBRE Multifamily team represented the seller.

SALES

BAKERSFIELD, CA—Villa Sienna Apartments has traded hands between two unnamed investors for $13.5 million. Located at 6900 Valley View Drive, the property has consistently provided healthy returns, and, as a result, the sale received strong interest from buyers. Marcus & Millichap's Tony Azzi, SVP of investments, and Rabbie Banafsheha, represented the seller, while Bruce Barnhard, senior associate in the Marcus & Millichap's Bakersfield office, represented the buyer.

SILVERTHORNE, CO—An LLC under the name Silverthorne Investors has purchased a triple-net 7-Eleven and Shell Gas Station along with a planned Dunkin Donuts for $7.3 million, or $1,500 per-square-foot—a significant price for the market. The property is located at a high-traffic intersection that sees an average of 31,000 cars per day. Dan Hoogesteger and Andrew Chana of Sands Investment Group represented the seller in the transaction, while the buyer represented itself.

VISTA, CA—The Palomar Corp. Center, a 66,922-square-foot industrial center in Vista, CA, has traded hands between the Whitecare Family Trust and TDA. The property is fully occupied by EarthLite, and the buyer plans to hold the property for the long term. Brent Bohlken, senior managing director at NGKF, and Paul Britvar, associate at NGKF, represented the buyer in the transaction.

LEASES

IRVINE, CA—Cie Digital Labs has signed a five-year, 13,054-square-foot office lease at Newport Gateway Center, a 570,000-square-foot office campus owned by the Irvine Co. The firm is relocating its headquarters from its current location in Long Beach. NAI Capital SVP Tom Nguyen represented Cie Digital in the transaction.

IRVINE, CA—Nutrawise Corp. has signed a 91,761-square-foot industrial lease at 9600 Toledo Way in Irvine in a transaction valued at $8 million. The property, which was renovated in 2014, will serve as the company's headquarters. CBRE SVPs Gregg Haly and Jeff Carr represented the landlord, Global Logistic Properties. Jim Snyder of Lee & Associates represented the tenant.

FINANCING

LAGUNA NIGUEL, CA—New York Life Insurance Co. has funded a $35 million loan for the Center at Rancho Niguel, a 120,000-square-foot retail center. The mortgage loan has a 20-year term with an opportunity to borrow additional proceeds in the first 10 years of the loan.

EMPLOYMENT

LOS ANGELES—Paul Salazar has joined CLG Management as EVP, where he will focus on finance, capital markets and investor relations. He joins the company from City National Bank, where he was the VP and senior relationship manager.

IRVINE, CA—Philip Pipal has joined Taylor Design as a project director. In the role, Pipal will help the firm expand into education, science and technology markets. Prior to joining the firm, Pipal was a project director at Carrier Johnson + Culture. He brings 34 years of design experience to the firm.

PORTLAND, OR—Bob Savage has joined CBRE as SVP, focusing on retail leasing and sales. A 20-year industry veteran, Savage formerly served as managing director at SKB Securities. He began his career at CBRE in the 1990s.

DEVELOPMENT

CAMARILLO, CA—Sundt Construction has completed the California State University Channel Islands Sierra Hall classroom and laboratory building. The $32 million project features a three-story, 66,500-square-foot hall with cutting-edge science labs, offices and lecture halls. The property is designed to meet LEED Gold certification.

CATHEDRAL CITY, CA—Saxony Group has proposed construction of a 312-room hotel in Cathedral City. The proposed five-story property sits on 14 vacant acres at the south end of Date Palm Drive. Patel Architecture is designing the project. It will take up to 12 months for the design and approvals process, and an additional year or longer for construction.