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STUDIO CITY, CA-The division of publicly held Archstone-Smith pays TGM Associates $14 million for the Bluffside Mirage apartment complex. The 11-year-old, wood-frame and stucco buildings were remodeled in 2001.
AGOURA HILLS, CA-Developer J.H. Snyder Co. breaks ground on the Oak Creek mixed-use project, which will include a 104-room hotel, retail stores and restaurants in addition to 336 townhouse-style apartments.
DANA POINT, CA-The pet grooming company acquires the 6,000-sf building it now occupies. The $2.2 million price is one of the highest paid for a comparable property in Dana Point, according to Beitler Commercial Realty Services.
VALENCIA, CA-The developer of housing and commercial properties in Valencia estimates per-unit income for the year ending Dec. 31 will be $1.62 to $1.67, compared with its previous estimate of $1.50 to $1.60.
LA HABRA, CA-Decron Management acquires the 242-unit complex from Pacific Properties. The 14-building, townhouse-style complex was built in 1974 and remodeled in 2000.
LOS ANGELES, CA-A U.S. District Court judge rules that stadium-style theaters violate the Americans With Disabilities Act. If upheld, the decision could require expensive retrofitting of theaters.
ANAHEIM, CA-The small apartment building with big potential for rent increases draws multiple offers. It is under contract in less than two weeks and sells after a 60-day escrow.
PASADENA, CA-Starwood Wasserman LLC of Providence, R.I. has developed three new buildings at the Shops on Lake Avenue, which will include about 25 retailers and three restaurants. Shops on Lake Avenue runs between Del Mar Boulevard and San Pasquel Street along Lake Avenue.
SEAL BEACH, CA-A buyer from Arizona acquires the recently built, 144,726-sf neighborhood shopping center from a Phoenix-based developer. The property is fully leased at the time of the sale.
SANTA MONICA, CA-The motion in L.A. County Superior Court attempted to stop shareholders from voting on a $1.1 billion Goldman Sachs buyout of financially troubled National Golf Properties, but the court denied the motion. The vote is scheduled for Dec. 18 at the REIT's annual meeting.