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....More
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....More
The Wallace Family Trust has disposed of 130 S. El Camino Dr. in Beverly Hills, Calif. The undisclosed buyer paid $10.4 million for the 9,046-sq.-ft. office building....More
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....More
Ground has been broken on the renovation and expansion project at The Village at Nellie Gail Ranch. The $17 million project will bring the retail center to a total of 100,000 sq. ft. and bring in the area’s first Fresh Market....More
Lowe Enterprises and I.D.E.A. Partners have been tapped by the San Diego Community College District to develop a mixed-use project on 1.37 acres. The joint venture has signed a long-term lease on the block, which lies between E, F, Park and 13th Streets in downtown San Diego....More
The San Jose Marriott Hotel has sold to CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors. The 506-key, class-A hotel located at 301 S. Market St. sold for less than replacement cost. Terms of the deal were not released....More
Artemis Real Estate Partners has partnered with Los Angeles-based Primestor Development, on behalf of the $300 million real estate emerging manager program of the New York Common State Retirement Fund. Primestor has been brought on as a retail operating partner for the California region....More
Empire Landing, a 276-unit multifamily community in Burbank, Calif., has sold to TIAA-CREF. The seller wasa joint venture between Casden Properties and PCCP. The terms of the deal were not disclosed....More
Kennedy Wilson has been tapped to be the exclusive leasing agent for 1 million square feet of commercial space being developed on Mare Island. Developer Lennar Mare Island LLC is turning the 650-acre former naval base into a mixed-use commercial and residential community....More
A newly formed private real estate investment company has closed its first fund. Tryperion Partners LLC now has $50 million of fully discretionary committed capital in its Tryperion RE Fund I. The company plans to use up to 75% leverage to give the fund a $200 million investment potential....More
IKEA surpasses 85 percent solar power for its U.S. buildings. In other news, the U.S. Government Services Administration officially advocates sustainable building. JPMorgan Chase joins NYC Mayor's Carbon Challenge. And Partners Group invests in a green building alternative to Hong Kong Island's offices....More
The 200,000-sq.-ft. office campus at 2100 E. Grand Ave. in El Segundo, Calif. has sold to a joint venture made up of Rockwood Capital and Marshall Property & Development for $25 million. The property was sold in an off-market transaction by 2100 Grand LLC, a related entity of the visual effects company Rhythm & Hues Studios....More
Special Olympics of Southern California has leased 12,029 sq. ft. at 1600 Forbes Way in Long Beach, Calif. The office property will serve as the group’s new headquarters....More
Coldwell Banker’s Northern California residential real estate headquarters will be moved from San Ramon, Calif. to Concord, Calif. with its lease of 16,000 sq. ft. in Concord Gateway. The move away from Bishop Ranch Business Park will situate the firm closer to employees living in Contra Coasta County....More
Dr. Bronner’s Magic Soaps has signed a lease to occupy 118,597 sq. ft. at 1335 Park Center Dr. in Vista, Calif. The total value of the transaction equals $9.8 million....More
Bixby Land Co. has broken ground on a 250,000-sq.-ft. office renovation project called THE Campus. Construction on the four-building project, located on Trimble Road in San Jose, Calif., should complete by the end of 2013....More
The 20-unit multifamily property at 421-425 Mission St. in South Pasadena, Calif. has sold for $5 million. The 15,392-sq.-ft. property was traded in an off-market transaction....More
Dominion Healthcare Financial Corp. has closed a $21.5 million loan deal for two skilled nursing facilities in Oahu, Hawaii. The Los Angeles-based company arranged a combination term loan and a revolving credit facility, which will be used to refinance a current HUD loan, consolidate other debt and provide some working capital....More
Canyon Capital Realty Advisors and Citi have come together to starts a real estate fund that will focus on multifamily workforce housing in underserved communities throughout the United States. Over the next several years, the Canyon Multifamily Impact Fund will acquire and manage up to $800 million in apartment communities. Investments will be between $20 million and $90 million....More
OliverMcMillan and Capri Capital Partners have begun construction on The Lofts. Located a 688 13th St. in San Diego, the five-story residential building is on a two-year construction schedule....More
Griffin Capital Corp. has purchased a 149,000-sq.-ft., class-A office building in Houston for $48.75 million. The property was acquired on behalf of the Griffin Capital Essential Asset REIT Inc....More
Murad Inc. has signed a 12-year lease in order to relocate its corporate headquarters. Having outgrown its current facility, the move is due to the company’s continued success and future expansion plans. Murad has invested $35 million into what will be a new 45,000-sq.-ft. global headquarters....More
There has been $30.3 billion in new CMBS issuance to date in 2013, according to Commercial Mortgage Alert. That puts the industry on pace to smash last year’s volume of $48.4 billion and will make 2013 the busiest year for CMBS issuance since 2007. Where do you think total CMBS issuance volume will end up in 2013?