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CYPRESS, CA-Given its location, the buyer's broker says the $126,761-per-unit purchase price was $10,000 to $15,000 below what the complex might have sold for because it was not aggressively marketed.
HEMET, CA-The builder projects sales of $230 million at the development, which will comprise 670 acres. The project will include more than 1,400 homes and an 18-hole championship golf course.
REDONDO BEACH, CA-The two-building, $9-million acquisition was among the first for Layton-Belling & Associates through a new industrial fund the firm formed recently in partnership with institutional investors and others.
PALM SPRINGS, CA-Newly formed Epix Hotels & Resorts of Scottsdale, Ariz., buys the entertainer's 14-acre resort for an undisclosed price and plans a reopening. Griffin acquired the Givenchy in 1998.
CARSON, CA-Uniwell Corp. buys a newly completed 19,058-sf industrial building in Carson Town Center for $1.8 million. The sellers were AMB Property Corp. and Mar Ventures, owners of Carson Town Center, a 1 million-sf office, industrial and retail center.
NEWPORT BEACH, CA-James Camp, formerly with Lowe Enterprises, will be senior vice president of development and acquisitions, based at the company's Newport Beach office. Before Lowe, Camp worked for Koll Cornerstone and Burke Commercial Development.
LOS ANGELES, CA-In addition to the outpatient center, Orthopaedic Hospital's Downtown campus expansion includes a pediatric dental clinic in conjunction with St. John's Well Child Center and a medical magnet high school in partnership with Los Angeles Unified School District.
MOORPARK, CA-A private investor buys the 71,166-sf industrial building, which is 100% leased to an importer that utilizes the facility for sales and warehouse operations. The seller was a division of Westamerica Construction Corp. of Beverly Hills.
BEVERLY HILLS, CA-A quirky economic recovery and other uncertainties cast doubt on what is a generally positive picture for Southern California apartment investors, according to industry players who spoke to a sold-out crowd at the Beverly Hilton late last week.
MANHATTAN BEACH, CA-Calling them non-core assets, the shopping center REIT Center Trust sells three properties--one in Oregon, one in Washington and another in California. Their combined square footage is 238,000 sf.