West
Kennedy Wilson Sells L.A. Luxury Multi-Family Building for $74M
Kennedy Wilson has sold NoHo-14, a 14-story luxury apartment building in the NoHo district of Los Angeles’ San Fernando Valley, for $74 million.
Asset Campus Housing to Manage 3,648-Bed Student-Housing Development in L.A.
Asset Campus Housing adds a third property to its California management portfolio with a new assignment from GHP Management. ACH will oversee The Lorenzo, a $230 million, mixed-use student housing development that will produce 3,648 beds for students near the University of California in Los Angeles.
Regency Centers to Begin Development on 378 KSF Grocery-Anchored Retail in California
There is a gap in Class A shopping center offerings in a neighborhood in Petaluma, Calif., less than 40 miles outside of San Francisco, and Regency Centers is planning to help fill it. This week, the REIT kicks off construction of the 378,000-square-foot East Washington Place with an investment of $61 million.
Sears' Store Sales, Rights Offering 'A Brilliant Move'
In the wake of the announcement that Sears would be selling 11 stores to General Growth Properties and spinning off two of its brands, industry sources called the actions “a brilliant move.”
Archstone Purchases Seattle, Silicon Valley Apartment Communities for $115M
Taking a 131-unit apartment complex off the hands of an affiliate of Continential Properties L.L.C., Archstone has added another Seattle-area multi-family property to its roster for $47.5 million. Additionally, the firm purchased a Silicon Valley apartment complex for $63 million.
Demmon Partners Sells California Multi-Family Community for $48M
FPA Multifamily has picked up Meridian at Stanford Ranch, a 452-unit multi-family community in Rocklin, Calif., for $48.3 million from Demmon Partners. Institutional Property Advisors, a multi-family brokerage division of Marcus & Millichap, represented both buyer and seller.
Decron Properties Spends $56M on Santa Clara Multi-Family
Decron Properties has acquired The Madison at Town Center, a Class A, 264-apartment community in Santa Clarita, Calif., for $56.5 million, continuing the firm’s recent focus on the multi-family market.
LaSalle Investment Management Takes Two Medical Office Buildings for $148M
Kilroy Realty Corp. has unloaded $147.5 million of property — in the form of two medical-office buildings — to LaSalle Investment Management. The two Class A buildings, which total 253,676 square feet, are located in San Diego.
Related Breaks Ground on $350M Santa Monica Mixed-Use Development
Related California has begun construction on The Village at Santa Monica, a $350 million mixed-use community in the city’s Downtown area. The development will contain 318 luxury condo units as well as affordable rental housing amid 20,000 square feet of retail.
JLL to Handle Leasing Efforts for 510 KSF California Office Complex
LNR Property L.L.C., the owner of Warner Center IV in Woodland Hills, Calif., has tapped services firm Jones Lang LaSalle Inc. to lease the 509,923-square-foot Class A office complex.