This Week's LA Deal Sheet
Cityview promoted its chief financial officer, Damian Gancman, to chief operating officer. In his expanded role, Gancman will oversee the operations of Cityview and its investments as well as support the strategic growth of its finance, acquisition, asset management and property management functions.
PEOPLE
Avison Young added Mitch Stokes as principal. Stokes, who assists landlords and tenants in the lease-up and sale of office and retail properties throughout Southern California, is based in the firm’s West Los Angeles office. Over a career spanning more than three decades, Stokes has executed more than $1B of lease and sales transactions representing tenants and landlords.
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Pauline Hale joined JLL’s valuation advisory group as an executive vice president based in Southern California. Hale will be the industrial market lead for California. Hale joins JLL from Altus Group, a software company focusing on the commercial real estate industry, where she was a director for more than 10 years.
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Nixon Peabody LLP hired Garth Bostic as counsel in the firm’s community development finance practice. Bostic will be based in the Los Angeles office. He represents lenders, investors, private, public and nonprofit developers, and syndicators on tax credit financings with a focus on new market tax credits. Bostic began his career at Nixon Peabody and was previously at the firm for seven years.
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JLL Capital Markets added Luc Whitlock as a director on its multi-housing investment sales and advisory team. Whitlock is based out of the Los Angeles office and will concentrate on middle-market multifamily housing sales in Southern California. Before coming to JLL, Whitlock spent almost six years at Matthews Real Estate Investment Services, where he focused on the sale and financing of multifamily.
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CBRE’s Sterling Champ decamped to Colliers’ greater Los Angeles brokerage. Champ specializes in corporate capital markets, providing advisory and execution services for single-tenant assets. In his more than three decades of experience, Champ has completed more than 1,000 transactions valued at over $8B.
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Architecture, planning and design firm CallisonRTKL hired Sarvine Ashkan as a healthcare principal. Ashkan will mentor and lead the healthcare studio and focus on business development and client relationships. Ashkan has 35 years of architectural experience in Southern California.
SALES
The JLL Capital Markets Debt Advisory team led by Senior Director Matt Stewart and analyst Chris Jaffe arranged $69.1M in post-close acquisition financing for the Walnut Business Park, a 33-building light industrial portfolio in Walnut totaling nearly 335K SF. JLL represented the borrower, IDS Real Estate Group, to secure financing with MetLife Investment Management.
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Greenlaw Partners bought an Anaheim warehouse and distribution portfolio for $58M. The properties at 1701-1771 South Lewis St. total nearly 200K SF. The seller, RAYMAB, was represented by a JLL Capital Markets Investment Sales Advisory team led by Senior Managing Director Mark Detmer, Managing Director Ryan Sitov, Senior Director Ryan Spradling and associate Makenna Peter working alongside Byron Foss and Curtis Ellmore.
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BentallGreenOak paid $35.8M for a roughly 120K SF research and development building in Carlsbad. Located at 2210 Faraday Ave. in the Faraday Research Center, the freestanding structure was 100% leased to three R&D and life sciences tenants. Cushman & Wakefield Executive Vice Chairman Aric Starck and Senior Associate Drew Dodds represented the seller, Hill Cos.
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The La Costa Meadows Business Center, an eight-building, multitenant industrial business park north of San Diego, has sold off-market. Public records for the 159K SF property at 1611-1665 South Rancho Santa Fe Road indicate it traded hands for just under $35.3M. The buyer was Birtcher Anderson & Davis Associates Inc., while the seller was an undisclosed institutional investor. Colliers’ Investment Advisors Louay Alsadek, Maddie Mawby and Eric Parra represented both parties in the transaction.
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NUWI Capital Inc. sold its mixed-use YOLO West Apartments, a 45-unit multifamily property with a retail component, in Ventura. Berkadia Los Angeles Managing Director Adrienne Barr completed the $20.4M sale on behalf of the seller. The buyer was Universe Holdings. The deal closed in early February for approximately $452K per unit.
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Ares Management Real Estate sold a roughly 600K SF multitenant industrial building in Otay Mesa. The property at 2020 Piper Ranch Road is a fully leased, Class-A asset. It was purchased by LaSalle Investment Management. Cushman & Wakefield’s Jeff Cole, Jeff Chiate, Bryce Aberg, Rick Ellison, Mike Adey and Zach Harman of the firm’s national industrial investment advisory group represented the seller. Brant Aberg with Cushman & Wakefield and Bill Dolan and Rob Hixon of CBRE also provided local market leasing expertise.
