San Diego

In yet another productive week for San Diego’s real estate market, a number of deals in sectors ranging from industrial to residential have kept up the frantic pace that seems to have taken over investors on both ends of a transaction.

The local commercial real estate market once again proved its appeal as while a major, $72 million deal was being struck for the Wateridge Plaza in Sorrento Mesa, two smaller office assets also traded hands in the passing week. The two more low-key transactions were completed in the Carmel Mountain Ranch and Solana Beach submarkets.

A retail center in Poway was the object of a recent commercial transaction when San Diego-based Retail Opportunity Investments Corp. paid a total of $43.9 million for the Creekside Plaza. The transaction was arranged by a team of HFF representatives, who worked on behalf of seller Azure Creekside Corp, a Glendale-based company. Azure is a client of American Realty Advisors, who handled the sale of asset.

Holiday Fenoglio Fowler recently announced that it had secured financing for two San Diego-area multifamily complexes owned by PCD Capital Group and Birge & Held Asset Management. The provider of commercial real estate and capital markets services worked with Opus Bank on behalf of the borrower, and completed two financing deals worth a total of $23.5 million. The HFF team in charge of securing the loans was headed by Zach Koucos, a director with the company.

One of the city’s most unusual office properties recently traded hands as Alliance Diversified Holding, LLC paid a purchase fee of $13.6 million for an asset located in the San Diego submarket of Miramar. The seller was APEX 1 & 2 LP. Both companies were represented by the local office of Voit Real Estate Services, with the seller being represented by a team consisting of Brandon Keith, Ryan Bracker and Bob Brady.

San Diego has a reputation of being a city that has a lot to owe to the bio-med industry, a sector that has seen impressive progress in the metro area of the city. Now a new health care giant is making waves with a large development project. Kaiser Permanente has broken ground on a hospital campus that it is developing in the growing submarket of Kearny Mesa. The Oakland-based, integrated managed care consortium is investing around $900 million into the high-end facility. The new development will further aid the growth of the Kearny Mesa submarket

The city’s increasing hospitality profile has come into play once again this week when a partnership between Vesta Hospitality and Pathfinder Partners LLC acquired a La Quinta hotel. Vesta Hospitality is a Washington-based privately owned hotel management and development company, and its partner in the acquisition, Pathfinder, is a local real estate investment company that specializes in value-add opportunities. The entity previously handled management duties for the Homewood Suites facility that was the subject of the transaction. The financial terms of the transaction were not disclosed.