La Paz Village in Laguna Hills was sold for $ 23.5 million, according to Instituteal Property Advisors, a division of Marcus & Millichaps.
5 At the intersection of the highway and Lapas Road, the center has a variety of small tenants, including dental clinics, yoga studios, salons, optometry offices and Italian restaurants.
Cape Point Development in San Clemente purchased a 54,566-square-foot shopping center built in 1974. According to IPA, the center was renovated in 2012.
IPA Senior Directors Bill Rhodes, Marcus & Millichap’s Stephen Siegel, Glen Knovsky and Anthony Danbrussia represented unidentified sellers.
Santa Anna Investors Buy Chino Retail Center for $ 42 Million
According to Newmark, Santa Anna’s Red Mountain Group has acquired Country Fair Shopping Center, a 168,264-square-foot shopping center in Chino, for $ 42.25 million.
According to Newmark, the property was sold by an unidentified real estate investment trust based in New York.
Newmark’s Vice Chairman Pete Bethea and Managing Directors Rob Ippolito and Glenn Rudy represented the sellers of the transaction.
“The Red Mountain Group is actively working to acquire quality retailers in Southern California and beyond,” Rudy said in a statement.
Center anchors include Albertsons and PetSmart. Other tenants are Rite Aid, Dollar Tree, Harbor Freight Tools, American Tires, Kaiser Permanente and Sherwin-Williams.
Basukomu spends $ 44.5 million on more apartments in Central Valley
Irvine’s Bascom Group has acquired the two Central Valley apartment communities for a combined $ 44.5 million.
According to the company, Fresno’s Casa delna Apartments and Casa del Sol Apartments are Basukomu’s 25th apartment in the Central Valley and 130th in California.
Bascom has purchased a portfolio of 236 units in an off-market transaction.
The Casa delna and Casa del Sol were built in 1967 and 2006, respectively, and the company said the interior was in its original condition or had only minor upgrades.
Facilities include a swimming pool and a fitness center. According to Bascom, the apartment is primarily a two-bedroom and three-bedroom floor plan.
Lee Nguyen, Senior Principal of Basukomu, said:
He stated that both complexes would undergo refurbishment of the unit’s interior, exterior, and their equipment.
“Our focused renovation plan offers lessors a variety of unit interior finish levels and prices,” he said.
Prior to the deal, Basukomu said it had purchased 128 apartments and 20,537 units in California.
JV Partner Ranch Harbor Purchases San Dimas Industrial Complex
Ranch Harbor, based in Newport Beach, and Manhattan West, a real estate investment and management company based in Los Angeles, have purchased a five-acre industrial warehouse complex in Sandymouth as a joint venture.
The financial terms of the transaction have not been disclosed.
The property includes four buildings of 91,000 square feet, including 44 suites.
The venture bought real estate through an off-market transaction from an unidentified seller.
The San Dimas transaction was mediated by Lee & Associates.
WNC creates a new venture and leverages the CIO to run it
Based in Irvine, an affordable housing investment and development company, WNC has established a new affiliate, Preservation Equity Fund Advisors (PEF Advisors), and has appointed Ann Caruana as President and Chief Investment Officer.
According to the statement, PEF Advisors are registered investment companies that acquire and maintain existing affordable homes in the high cost market.
Caruana has 19 years of experience in the housing investment sector, including underwriting and acquiring affordable rental housing investments.
She spent three years as Senior Vice President of WNC’s Conservation Equity Fund, overseeing the acquisition and asset management teams.
WNC is an investor in real estate and community development initiatives.
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