First Bidder Wins Auction Via App

Editorial|&utm_term=|Website-Editorial-NAT(Website)|"> Auction.com iPad app. Launched in June 2014, the app allows buyers to locate and bid on commercial and residential real estate from virtually anywhere. It fully integrates Auction.com's platform and iPad's technical infrastructure to produce an entirely new user experience. Since its launch, the app has been downloaded nearly 100,000 times and has delivered 81 winning bidders on residential properties.

HAWAII—Healthcare Trust of America has purchased two medical-office buildings here for $47 million from an undisclosed seller. These included the Kapolei Medical Center in Kapolei and St. Francis Medical Pavilion in Honolulu. These buildings are anchored by Kaiser Permanente and Queens Health System.

DENVER—Inland American Communities has purchased the LEED-Gold-certified apartment community formerly known as Asbury Green and will rebrand it University House. The five-story apartment community is located on the east side of University Blvd., one block from the University of Denver's 125-acre campus here. CBRE represented IAC, and the transaction closed for an undisclosed amount.
CAMARILLO, CA—A private investor from Orange County, CA, has sold Shops at Camarillo Town Center here to YS Properties LLC for $4.4 million. The price per square foot was $550, the highest per-square-foot price for a multi-tenant retail property in Ventura County over the past 12 months. Chris DePierro, managing director, and Jeff Conover, senior managing director, of Faris Lee Investments represented the seller; the buyer was represented by Connie Kim of Coldwell Banker Wilshire.

LA QUINTA, CA—Capital Square Realty Advisors LLC has acquired Komar Desert Center, a seven-building neighborhood retail center at 79705–79845 Hwy. 111 here, for an undisclosed amount from an undisclosed seller. The approximately 77,000-square foot center is 95% leased to major tenants, including Starbucks, BevMo!, Burgers and Beer, Toda Moda, Souplantation and Mimi's Café.

LEASES

RENO, NV—Moldman Systems LLC has leased 35,100 square feet of distribution space within the Reno Aircenter at 4649 Aircenter Circle, Suite 101 here. The firm develops and distributes low pressure injection molding machines. J. Michael Hoeck, along with Dave Simonsen, Michael Nevis and Steve Kucera of the NAI Alliance Industrial Properties Group, represented landlord IndCor Properties Inc. in this transaction.

MENLO PARK, CA—Tarlton Properties Inc. and Intersect ENT have signed a long-term lease expansion for the latter to occupy an additional 18,000 square feet at 1555 Adams Dr. here. The tenant now has a long-term lease on the entire building, totaling more than 50,000 square feet.   

FINANCING

NEWPORT BEACH, CA—Sabal Financial Group L.P. has provided commercial real estate term debt for 16 deals totaling more than $34 million. The deals represent debt transactions for multifamily, retail and office properties in Arizona, California, Georgia, Ohio, Texas and Minnesota.

AURORA, CO—Institutional Property Advisors Capital Markets has arranged $34 million in refinancing for a 454-unit multifamily investment property here. Jake Roberts and Anita Paryani, both first VPs capital markets in IPACM's West Los Angeles office, structured the debt as a seven-year term amortized over 30 years with a fixed 3.88% interest rate with a few years of interest only. The 398,040-square-foot property was built in 1981 and renovated in 2000 and 2003.

SEATTLE—The Seattle office of Berkadia recently originated over $21 million combined loan proceeds to refinance three self-storage facilities located in the Puget Sound region. SVP Louis Weisman worked with borrower Ray Moore Construction to close the 10-year, interest-only, fixed-rate loans through a major Wall Street lender. The facilities, owned by Stor More Self Storage, are located in West Seattle, Burien and Auburn, WA. The full-term loans feature a 4.45% interest rate and 65% loan-to-value ratio. Each of the three facilities were more than 95% occupied at closing.

SEATTLE—Stuart Oswald, SVP/managing director of NorthMarq Capital's Seattle-based regional office, negotiated the $16.5-million fixed rate, cash-out refinance of the Decatur Building, a 111,419-square-foot mixed-use property located at 1511 6^th Ave. here. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

TACOMA, WA—Pillar has originated a $13-million Fannie Mae loan to the Reliant Group for the acquisition and renovation of Market Street Apts., a 125-unit, Section 8 senior-housing property downtown. The transaction allows the Reliant Group to acquire and extensively renovate the property. Peter Nichol, managing director in Pillar's San Francisco office, secured the loan which, combined with multiple series of tax-exempt bonds and tax-credit equity, will facilitate the interior and exterior renovation of the property.  

EXECUTIVE APPOINTMENTS

CENTURY CITY, CA—Charles Dunn Co. has named Ashley Saye as associate of out of the firm's Century City office. In her new role, Saye will focus on the sale of net-lease, single-tenant retail properties throughout Los Angeles and Orange counties. Saye spent three years working in sales for tech startups in the Los Angeles area before pursuing a career in brokerage.

SAN FRANCISCO—The Swig Co. has made several executive promotions. Deborah Boyer has been promoted to EVP and director of asset management, assuming responsibility for the firm's asset- and property-management activities nationwide. Tomas Schoenberg has been promoted to EVP, investments and will continue to head the company's acquisitions and capital markets activities nationwide. Cory Kristoff has been promoted to SVP, asset management.  She leads the company's asset and property management activities in Southern California. In addition, Connor Kidd has been promoted to VP, investments, and Purva Gujar has been elevated to senior analyst.

TECHNOLOGY

IRVINE, CA—Homefacts, a wholly owned subsidiary of RealtyTrac and a leading source of comprehensive housing data, has launched a new mobile app for Android. Following the launch of the Homefacts iPhone app in July, Android device owners now have an app of their own that enables homebuyers, homeowners and renters to view detailed property and neighborhood information and statistics on more than 100 million homes in the US.