L.J. Melody & Company, the real estatebanking division of CB Richard Ellis, has arranged $19.37 million in permanent financing for the 176,904-square-foot Rosedale Commons in Roseville, Minn. The center is 98 percent occupied and includes Linens N Things, CompUSA and Jo Ann Fabrics.
Tenant-In-Common (TIC) company SCI Real Estate Investments plans to open 15 more field offices in major U.S. cities to expand the multi-investor format. The company has hired Scott Lunine, formerly of Sperry Van Ness, as senior vice president and national sales director, to the lead the new venture.
G&L Coronado LLC has sold the 41,700 square-foot, mixed-use Coronado Plaza in Coronado Island, Calif., to SCP Coronado LLC for $17.35 million. The property is 95 percent occupied and has Wendy's, Domino's Pizza and Subway as tenants.firm Faris Lee Investments represented the buyer and the seller.
Casto has sold its Pittsburgh shopping center portfolio, totaling more than 1.8 million square feet at five retail centers, to Oakmont Malls LLC. The properties are: the 364,195-square-foot Great Southern in Bridgeville, the 320,029-square-foot Miracle Mile in Monroeville, the 609,405-square-foot Northern Lights in Baden, Raceway Plaza in Bridgeville and the 367,395-square-foot Southland/Four Seasons in Pleasant Hills.