LOS ANGELES—Bill Smith has joined AECOM as EVP of design and construction. In this new role, Smith will oversee and manage all design and construction projects nationally for AECOM Capital, which is expanding. Smith is a 25-year veteran of the design industry, and formerly served as president of the MGM MIRAGE Design Group in Las Vegas for MGM Resorts International.
SALES
LAS VEGAS—The Bascom Group has acquired Lyric Apartments, a 376-unit apartment complex in Las Vegas, for $65.3 million. The 31-story property was built in 2015 and has two- and three-bedroom floor plans. This is the investor's 11th acquisition in the market, which has experienced a growth spurt.
SAN JUAN CAPISTRANO, CA—JLL Income Investment Trust has purchased the San Juan Medical Center for $27 million. The 40,000-square-foot medical center is fully leased by MemorialCare Medical Foundation and Fresenius Dialysis, and has a weighted average lease term of over 13 years and annual contractual rent increases in excess of 2.75%.
DENVER, CO—An unnamed Arizona Investment Group has acquired three Fairfield Inn & Suites properties in the Denver area. The 225-room portfolio includes the 82-room Fairfield Inn & Suites Denver Aurora /Medical Center in Aurora, CO; the 61-room Fairfield Inn & Suites Denver Tech Center/South in Highlands Ranch, CO; and the 82-room Fairfield Inn & Suites Denver North/Westminster in Westminster, CO. The sales price was not disclosed.
FINANCING
WAIPAHU, HI—DiNapoli Capital Partners has secured an $80.5 million acquisition loan for the purchase of Oasis at Waipahu, a 406-townhome community in Hawaii. The Fannie Mae loan has a seven-year, floating-rate term. Andrew Behrens and Jesse Weber of CBRE's debt and structured finance team secured the funds on behalf of the borrower.
LAS VEGAS—New Nevada Land has secured a $24.7 million refinancing loan for 479,000 acres of Northern Nevada agricultural land. The loan has a 10-year term with 2-years interest only, followed by a 25-year amortization schedule. Robert Hernandez, managing director of NorthMarq Capital secured the financing on behalf of the borrower.
EMPLOYMENT
LONG BEACH, CA—U.S. Department of Commerce Secretary Penny Pritzker has named Long Beach Port CEO Jon Slangerup to the Department's Advisory Committee on Supply Chain Competitiveness. The 45-person committee will propose solutions to the Obama administration on freight, transportation and logistics issues.
SAN DIEGO, CA—Dave Pinnegar and Russ Jabara have joined Kidder Matthews as SVPs to specialize in industrial sales and leasing. The team joins the firm from Colliers International, and has brokered more than $340 million in transactions.
LOS ANGELES—William Ellis has joined Akerman LLP's Los Angeles office. Ellis joins the firm from global real estate conglomerate Reading International, where he served as general counsel.
NEWPORT BEACH, CA—SRS Real Estate Partners has hired Chris Tramontano, John Redfield, and Matt Hardke as its new Southern California multi-tenant investment sales team. The team will work with the national net lease group to strengthen investment sales in Southern California.
DEVELOPMENT
SAN DIEGO—Rudolph and Sletten have topped off the new San Diego Central Courthouse. The 25-story project cost $555 million. Once complete in early 2017, it will house 71 courtrooms and a facility for criminal, civil, probate, family and small claims matters.
LOS ANGELES—Bill Smith has joined AECOM as EVP of design and construction. In this new role, Smith will oversee and manage all design and construction projects nationally for AECOM Capital, which is expanding. Smith is a 25-year veteran of the design industry, and formerly served as president of the MGM MIRAGE Design Group in Las Vegas for
SALES
LAS VEGAS—The Bascom Group has acquired Lyric Apartments, a 376-unit apartment complex in Las Vegas, for $65.3 million. The 31-story property was built in 2015 and has two- and three-bedroom floor plans. This is the investor's 11th acquisition in the market, which has experienced a growth spurt.
SAN JUAN CAPISTRANO, CA—JLL Income Investment Trust has purchased the San Juan Medical Center for $27 million. The 40,000-square-foot medical center is fully leased by MemorialCare Medical Foundation and Fresenius Dialysis, and has a weighted average lease term of over 13 years and annual contractual rent increases in excess of 2.75%.
DENVER, CO—An unnamed Arizona Investment Group has acquired three Fairfield Inn & Suites properties in the Denver area. The 225-room portfolio includes the 82-room Fairfield Inn & Suites Denver Aurora /Medical Center in Aurora, CO; the 61-room Fairfield Inn & Suites Denver Tech Center/South in Highlands Ranch, CO; and the 82-room Fairfield Inn & Suites Denver North/Westminster in Westminster, CO. The sales price was not disclosed.
FINANCING
WAIPAHU, HI—DiNapoli Capital Partners has secured an $80.5 million acquisition loan for the purchase of Oasis at Waipahu, a 406-townhome community in Hawaii. The
LAS VEGAS—New Nevada Land has secured a $24.7 million refinancing loan for 479,000 acres of Northern Nevada agricultural land. The loan has a 10-year term with 2-years interest only, followed by a 25-year amortization schedule. Robert Hernandez, managing director of NorthMarq Capital secured the financing on behalf of the borrower.
EMPLOYMENT
LONG BEACH, CA—U.S. Department of Commerce Secretary Penny Pritzker has named Long Beach Port CEO Jon Slangerup to the Department's Advisory Committee on Supply Chain Competitiveness. The 45-person committee will propose solutions to the Obama administration on freight, transportation and logistics issues.
SAN DIEGO, CA—Dave Pinnegar and Russ Jabara have joined Kidder Matthews as SVPs to specialize in industrial sales and leasing. The team joins the firm from Colliers International, and has brokered more than $340 million in transactions.
LOS ANGELES—William Ellis has joined
NEWPORT BEACH, CA—SRS Real Estate Partners has hired Chris Tramontano, John Redfield, and Matt Hardke as its new Southern California multi-tenant investment sales team. The team will work with the national net lease group to strengthen investment sales in Southern California.
DEVELOPMENT
SAN DIEGO—Rudolph and Sletten have topped off the new San Diego Central Courthouse. The 25-story project cost $555 million. Once complete in early 2017, it will house 71 courtrooms and a facility for criminal, civil, probate, family and small claims matters.
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