ORANGE, CA-An opportunity fund buys a non-performing note, forecloses on a 386,000-square-foot office/retail project and foresees upside in filling the 40% vacancy.

LOS ANGELES-Construction begins on a market-rate student housing project by the institutional investment firm focused on urban real estate.

ONTARIO, CA-The seller of the 898,400-square-foot Ontario Distribution Center bought it for $27 million in 2007 and plans to apply the proceeds to a 1031 exchange.

ORANGE COUNTY, CA-Is it a turnaround? Two new reports show the county’s office market posting positive absorption in the third quarter.

BEVERLY HILLS, CA-Kennedy Wilson’s recapitalization of an office complex will enable the company to compete aggressively for new tenants who are priced out of nearby markets.

ANAHEIM, CA-The owner of the 768-unit Madison Park Apartments refinances the property via a $75.5 million Fannie Mae loan arranged by Berkadia Commercial Mortgage.

ONTARIO, CA-BlackRidge Real Estate Group buys the fully leased, 302,020-square-foot distribution center at 1000 Etiwanda Ave. from BIT Holdings Forty-Three Inc for $14.4 million.

IRWINDALE, CA-Seventh Street Development of Long Beach will develop the new 655,000-square-foot build-to-suit for Huy Fong Foods, maker of Sriracha Hot Chili Sauce.