Western National Property Management has been tapped to handle the leasing and management of The Paseos at Magnolia. The 168-unit luxury apartment community being developed by the Hutton Cos. is located in Riverside, Calif.
AEW Capital Management LP has purchased the office property at 3111-3141 Coronado Drive in Santa Clara, Calif. The two-building campus was sold by 3111-3141 Coronado Drive Associates, LLC, a venture between Bixby Land Co. and JP Morgan. Terms of the deal were not released.
Hotel management company, PM Hospitality Strategies has added another West Coast property to its management portfolio. The Washington, DC-based company will now manage the132-key Homewood Suites by Hilton Oakland Waterfront.
Subsidiaries of Sabra Health Care REIT Inc. will offer $200 million aggregate principal amount of senior notes due 2023. BofA Merrill Lynch, Barclays, RBC Capital Markets, and Wells Fargo Securities are the book running managers, while Credit Agricole CIB and RBS Securities Inc. are co-managers.
In a two-year period, Imperial Promenade went from 30-percent vacancy to 100 percent occupied thanks to a variety of leases. The property is owned by a partnership between DeBeikes Investment Company and Warmington Properties.
Rancon Realty Fund V has disposed of Three Carnegie Plaza. The buyer, a 1031 Exchange Partnership made up of 1250 Fairfax LLC and 521 East 11th St. LLC, paid $8 million for the 85,846-sq.-ft. office property located in San Bernardino, Calif.
Construction has begun on Argyle Apartments, a 40-unit affordable housing project at 1600 N. Western Ave in Hollywood. The four-story structure is meant to house both seniors and young families. AMCAL Multi-Housing is developing the property, which will be LEED certified.
Dylan Investment Properties has purchased St. George Medical Center in Carmichael, Calif. for an undisclosed total. SA Challenger Inc. disposed of the 52,677-sq.-ft., four-building medical office building.