Colliers International negotiated the sale of the Center at Troon North, a 63,016-square-foot mixed-use property in North Scottsdale, Ariz., to Hurd Real Estate Services, Inc. for $22 million. The center also includes a 30,000-square-foot pad site and eight acres of land suitable for build-to-suit space. Gordon Carll and Cary Chandler, of Colliers International's private capital advisors group, represented the buyer in the transaction.
Faris Leenegotiated the sale of Gateway Village, a 153,687-square-foot community shopping center in Santa Clarita, Calif., to Grosvenor Investment Management for $66 million. Richard Walter and Donald MacLellan, of Faris Lee, represented the seller, Rye Canyon Gateway Plaza, LLC, in the transaction. The buyer represented itself.
Mortgage industry professionals launched a new organization, the National Association of Mortgage Professionals Inc. (NAMP), which is dedicated to raising the professional standards of the industry in order to bolster consumer confidence. The organization will qualify mortgage and loan professionals with a series of credential checks.
iStarInc. closed on its previously announced transaction with Fremont Investment & Loan, a subsidiary of Fremont General Corp., in which it acquired Fremont's commercial real estate lending business and interest in Fremont's commercial loan portfolio.
Jones Lang LaSalle negotiated the sale of Chatham Plaza, a 196,411-square-foot community center in Savannah, Ga., from Golden Abercorn LLC and the Buchsbaum Company, L.P. to Kimco Realty for approximately $45 million. Larry Krasner, David Doupe, Cheri Pierce and Julie Davis, of Jones Lang LaSalle, negotiated the transaction on behalf of the sellers.
Q10 Triad Capital Advisors arranged a $23 million loan for Village Square, a 200,000-square-foot retail property in Hazelwood, Mo. Terry Dunaway negotiated this transaction.
Holliday Fenoglio Fowler, L.P. arranged an $83 million loan for the San Francisco Giftcenter and Jewelrymart, a 340,000-square-foot wholesale shopping center in San Francisco, Calif. Holliday Fenoglio Fowler's Lloyd Minten negotiated this transaction.
Gregory Greenfield & Associated, Ltd. appointed Jones Lang LaSalle as the leasing and management agent for a portfolio of retail properties located throughout Alabama, Georgia and the Carolinas.
Urstadt Biddle Properties Inc. completed the mortgage refinancing of the Ridgeway Shopping Center in Stamford, Conn. The existing $53 million mortgage, due in December 2007, was extended for a 10-year period at a fixed interest rate of 5.52 percent.
Capmark Finance Inc. arranged an $18 million loan for Palouse Mall, a 406,403-square-foot regional mall in Moscow, Idaho. Tom Bracken and Robert Newstead, of Capmark's San Francisco office, negotiated this transaction.
Linear Retail Properties, LLC purchased Central Plaza, a 47,790-square-foot retail property in Wellesley, Mass., for $22 million. Jonathan Aron, vice president of investment services for NAI Hunneman, negotiated this transaction.
Faris Lee Investments negotiated the sale of the Village at Lee Branch, a 194,629-square-foot in Birmingham, Ala., from AIG Baker to LaSalle Investment Management for $34 million. Richard Walter and Donald MacLellan, of Faris Lee, represented the buyer in the transaction. The seller represented itself.