George Smith Partners arranged $210 million in construction financing for the development of Anaheim Garden Walk, a 439,600-square-foot retail and entertainment center in Anaheim, Calif. The project, the result of a partnership between Excel Realty Holdings, LLC and Pacific Coast Capital Partners, LLC, will also include a 3,200-space parking facility, 387 timeshare units and three hotels.
Sovereign Investment Company completed a $76 million sale/leaseback transaction for ShopKo Stores Operating Co., LLC. The transaction involves seven ShopKo stores in Oregon, Utah, Idaho and Washington and has a term of 20 years.
CB Richard Ellis negotiated the sale of a 2-million-square-foot Starwood Wasserman retail portfolio for $400 million. The portfolio contains 13 properties in Massachusetts, Rhode Island, Florida, Ohio and California. Bill Moylan, Jeffrey Dunn and Chris Angelone, of CB Richard Ellis, represented both parties in this transaction.
iCap Realty Advisors opened a new office in Grand Rapids, Mich. The office will serve the growing West Michigan market, including Grand Haven, Holland, Grand Rapids and the Lakeshore District. David Brockmyre will lead the West Michigan team.
CB Richard Ellis negotiated the sale of the Villaggio, a 176,573-square-foot lifestyle center in Fresno, Calif., to Mobile Land, LLC for $61 million. Sam Alison, Dan Riley, Todd Goodman, Kirk Brummer and Preston Feltrow, of CB Richard Ellis, represented the seller, Tutelian Development Partners LP, in the transaction. Grubb & Ellis Company negotiated the sale of the Crossroads Marketplace, a 263,757-square-foot power center in Chino Hills, Calif. to Lakha Investments for $74 million. Dixie Walker, Charley Simpson and Peter Spragg, of Grubb & Ellis, represented both the seller, a partnership of American Realty Advisors and the Krausz Company, Inc., and the buyer in the transaction.
Buchanan Street Partners provided $47 million in equity to Entertainment Development Group for the $170 million Houston Pavilions, a 550,000-square-foot mixed-use project in Houston, Texas. Holliday Fenoglio Fowler, L.P. arranged a $120 million construction loan for the development. The project is scheduled for completion in October 2008.
American Realty Advisors appointed Terranova as the leasing and management agent for Kendall Mall, a 300,000-square-foot property in Kendall, Fla. American Realty Advisors recently purchased the property for $88 million.
Staubach Capital Markets negotiated the sale of Peachtree Hills, a 149,233-square-foot shopping center in Atlanta, Ga., from GE Asset Management to Ramco-Gershenson for $24 million. Jim Hamilton, of Staubach, brokered this transaction.
Festival Retail Fund 1, L.P. bought Garin Ranch Retail Center, a 55,797-square-foot mixed-use project in Brentwood, Calif. for $22 million. The site also includes three developable pads that are entitled for an additional 45,000 square feet of retail and office space. Michael Federle and Nicholas Bicardo, of Grubb &Ellis, represented both Festival, and the seller, Signature Properties, in the transaction.