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Thursday, 11 July 2002

West Regional Digest (7/12/02): San Diego Investor Buys Class-B Apartments

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July 12, 2002

San Diego investor buys Class-B apartment property

OCEANSIDE, Calif. – A San Diego private investor has purchased the Village North Apartment share for $8.65 million. The 96-unit Class-B property is 100 percent occupied. The Village North Apartments are at 854 Vine St., just west of Interstate 5 and about one mile from the ocean. Constructed in 1989, the asset encompasses 76,800 square feet on a 1.72-acre parcel. Rental rates range from $725 to $975 per month. Community features include a swimming pool and 195 parking spaces. Marcus & Millichap brokered the sale.

$8.8Mln loan provided for Santa Ana, Calif., apartments

SANTA ANA, Calif. – Johnson Capital's Irvine office has arranged an $8.8 million acquisition loan for Mile Square Apartments. The 10-year loan carries an interest rate of 6.81 percent and represented 80 percent of the value of the property. The 100-unit apartment complex consists of 13 two-story garden-style buildings. It was built in 1975 and renovated in 1998.

Federal Heights, Colo., retail center sells for $7.5Mln

FEDERAL HEIGHTS, Colo. – A family investment partnership has purchased the Federal Plaza shopping center for about $7.5 million, or $201.56/sf., from a Dallas-based retail developer. The Federal Plaza is at 10300 Federal Blvd. in Federal Heights, a city 12 miles north of Denver. The asset was a joint private and public endeavor between the city of Federal Heights and the developer to replace a condemned property at the site. The center was completed in 2001 and encompasses 37,177 square feet. The center is anchored by a Safeway and a Safeway gas station, though these properties were not included in the sale. The tenant roster also includes Blockbuster Video, Papa Johns, Dairy Queen and Chipolte Restaurant. At the time of the sale, the center was 96 percent occupied. Marcus & Millichap arranged the transaction.

Centennial development in Denver wins OK
Denver Post Gazette

DENVER – A plan to build 70 townhouses and 96 condominiums west of Centennial Boulevard and north of Chuck Wagon Road was approved despite opposition from some neighbors. The Saddleback Ridge development won the approval even though some homeowners and homeowner associations in the Mountain Shadows area expressed concern about the type of housing proposed for the 24.6-acre site and the suitability of some of the land for development. Opponents said the condominium units clustered along Centennial did not fit into the neighborhood, although they said they had no objections to the townhouses. They also expressed concern that geologic faults and water runoff from a hillside above the project could pose problems. Zephyr Development will build the project.

Technicolor renews and expands presence at Media Studios in Burbank, Calif.

BURBANK, Calif. – Technicolor is renewing and expanding its presence at M. David Paul Development's Media Studios North. Technicolor has signed a 10-year lease for an additional 52,400 sf in Phase III and has also extended its existing lease of 33,000 sf for 10 years. Rob Erickson and Brad Feld of Cushman & Wakefield brokered the deal with Technicolor. The deal means all three phases of the projects' 650,000 sf are 100 percent leased. The office park continues to expand with Phase IV, a five story, 190,000-sf building, which is in the preleasing stages.

Metal Powder Products sells building in Anaheim, Calif.

ANAHEIM, Calif. – Cardinal Development Co. has purchased and leased back Metal Powder Product's 45,250-sf industrial building at 5500 E. LaPalma Ave. for $2.8 million. CB Richard Ellis represented brokered the transaction.

Commercial Real Estate Direct provides links to full stories where available.


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Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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