Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

DEALTRACKER

LOS ANGELES—Mosser Capital has secured $42.33 million for a six-property, 222-unit multi-housing portfolio in Los Angeles, California. The HFF team worked on behalf of the borrower to secure three separate five-year, floating-rate loans through ACORE Capital, LP. Loan proceeds were used acquire the properties, upgrade common areas and improve rental units as they turn. The properties in the portfolio are: 1317 Bronson (16 units), 1417 Bronson (45 units), 407 Gramercy (31 units), 1217 Berendo (16 units), 1234 Berendo (14 units), and the Lido Apartments at 6500 Yucca Street (100 units). All properties are near mass transit in the Hollywood and Koreatown submarkets. The HFF debt placement team representing the borrower included senior managing director Peter Smyslowski and associate Bercut Smith.

LOS ANGELES—3030 Studios, a 107,875-square-foot studio campus in the Atwater Village area of Los Angeles, has traded hands. Formerly leased by Playboy, the property was sold to Gaw Capital Partners by World Class Capital Group. 3030 Studios features studio, production, and creative office space located on nearly four acres of land. The private studio campus offers a full service production and broadcast facility with three state-of-the-art soundstages of 1,600, 11,000, and 18,000 square feet. 3030 Studios features lush landscaping and outdoor seating areas, large open creative office spaces with skylights and high ceilings, editing rooms, ample onsite parking, and considerable HVAC and electrical infrastructure for large scale studio and creative office operations. JLL's team of Nicole Mihalka, Carl Muhlstein, and Hayley Blockley represented the seller.

HOLLYWOOD—A development site located at Yucca Street and Argyle Avenue near Capitol Records in Hollywood has traded hands. West Los Angeles-based WL Yucca Argyle Owner A purchased the property from a private family based out of Burbank for $17 million. Champion Real Estate Company plans to build a mixed-use development to be known as 6220 Yucca on the site. The project will include a 20-story apartment building, a 136-room hotel and retail/restaurant space. David Aschkenasy, Executive Vice President of Commercial Asset Group represented the seller in the transaction. Jason Gribin of Jones Lang LaSalle represented the buyer. The property, which currently houses a 40-unit apartment building and a single-family home, is located at 6212-6224 West Yucca Ave., 1756-1760 Argyle Ave. and 1771 Vista Del Mar St. The existing buildings will be demolished to make way for the new development. Construction is slated to begin on 6220 Yucca in 2019 and be completed by 2022.

PHOENIX—A 175,225-square- foot, two-building, class-A office park located at the northwest corner of Loop 101 and 19^th Avenue in Phoenix. Barry Gabel and Chris Marchildon with CBRE's Phoenix office represented the seller, Granite Deer Valley Holdings, LLC, based in Newport Beach, California. A joint venture between Everest Holdings of Scottsdale, Arizona, and Blue Vista Capital Management of Chicago purchased the property for $23.6 million.

SAN DIEGO—Marty Meagher and Gardiner Champlin, senior vice presidents of NorthMarq Capital's San Diego regional office, have arranged refinancing of $40 million for two multifamily properties in California and Nevada. These separate loans for each property share common principals, and are structured with a 7-year fixed rate loan term. NorthMarq arranged financing for the borrower through its Fannie Mae platform. The buyer took advantage of green rewards and year-end promotional pricing to secure the deals. Forest Glen is located in Escondido, California, this 184-unit multifamily property received refinancing of $24.5 million. Forest Glen offers a modern countryside level of comfort while being advantageously close to the city. Shadowbrooke Apartments is located in Las Vegas, Nevada, this 256-unit multifamily property received refinancing of $16 million. Shadowbrooke Apartments provide limitless amenities with a remarkable location and sensational value.

DENVER—Ascentris has acquired Tri-Center Plaza, a 143,000 square-foot, multi-tenant office property in the San Fernando Valley of Los Angeles. Monday Properties sourced and assisted Ascentris in the acquisition of the property. Monday Properties will serve as the asset manager and will oversee the management and leasing of the property. Tri-Center Plaza, built in 1990, is located at 5990 Sepulveda Boulevard in the Central San Fernando Valley submarket, one of the most centrally located submarkets in Los Angeles. The property is less than twenty minutes from most of Los Angeles' office submarkets, including Westside, Downtown, Tri-Cities, Santa Clarita, Conejo, and Simi Valley. The property's location at the intersection of Highway 101 and the 405 Freeway make the building a convenient commute for the extensive labor pool that lives in the San Fernando Valley and benefits from an above-market 3.5 per thousand square feet parking ratio. Tri-Center Plaza is well positioned to offer attractive and flexible space options to tenants looking for 2,500 square feet to 25,000 square feet at a price point that is a 20%-25% discount to its direct competition and a 50% discount to other submarkets that are only 15-20 minutes away.

Instant Insights /

Middle Market Digest: Southwest

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