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IRVINE, CA-The founder and president of RiverRock Real Estate Group is named Professional of the Year by the Orange County Chapter of the industry organization.
TORRANCE, CA-AIG and the O'Donnell Group sell the 363,290-sf facility to a private investor from Texas for $33.9 million. The buyer gets a 30-year-old, 100% leased building that was renovated in 2002.
NEWPORT BEACH, CA-One borrower secures a $100-million line of credit for a four-property portfolio, while another refinances in a $90-million deal that generates $30 million for new acquisitions.
CORONA, CA-Myers Power Products, a manufacturer of electrical switch gears and metering devices, pays nearly $5.5 million for a 114,000-sf industrial building in a move from Los Angeles County.
MARINA DEL REY, CA-Hankey Investments taps PM Realty Group for management of Marina Business Center I and II. Separately, PM renews REMC Executive Suites at Airport Center.
LOS ANGELES-The audiovisual firm Point.360 sells a 64,621-sf building on Media Center Dr. and then leases it from the new owner, GE Business Asset Funding Corp.
CORONA, CA-A private investor acquires the 133-unit Emeritus Senior Park Apartments from Werner Investments for nearly $10.2 million. A smaller complex in Costa Mesa and an inn in Palm Springs close as well.
LOS ANGELES-The Michigan retail REIT repays a $146-million mortgage and buys out its partner in the 871,000-sf shopping landmark at the edge of Beverly Hills.
BEVERLY HILLS, CA-The new owner of the Beverly Hilton Hotel, Oasis West Realty, will spend approximately $40 million to $60 million to restore the landmark hotel to its former glory, says Ted Kahan, president of Oasis.