SRS Realty Nabs SoCal Industrial Team From Colliers: The Los Angeles Deal Sheet
SRS Real Estate Partners has hired a team from Colliers. Executive Vice President and Senior Managing Principal Richard Schwartz will lead SRS Industrial in Southern California.
He will work with Executive Vice President and principal Joey Reaume and Vice President Nick Moscicki. Collectively, the three-man team has completed more than $5B in industrial sales and leasing transactions.
PEOPLE
Colliers added multifamily specialist Shane Shafer as executive vice president in its Orange County brokerage. Shafer’s arrival reflects Colliers’ effort to strengthen its multifamily investment sales platform across Southern California, according to a release from Colliers.
Shafer comes to Colliers from Northmarq, where he led the Southern California multifamily investment sales team and played roles in launching and growing the firm’s institutional, private capital and midmarket team out of Irvine.
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Tiyesha Watts has joined the California Housing Partnership as its new associate director of policy advocacy. Watts previously directed government relations strategy for the 11,000-member California Academy of Family Physicians and worked as a legislative aide. Watts holds a bachelor’s in political science from the University of California, Davis and a master’s in public administration from the University of the Pacific.
SALES
CBRE arranged the $36.5M sale of the WallyPark parking garage at 3298 Kettner Blvd. and 1619-1646 Sassafras St. in San Diego. San Diego County Regional Airport Authority acquired the property to use for employee parking.
CBRE's Kevin Nolen and Jason Kimmel represented the seller, LR San Diego WallyPark LLC.
The property includes a 997-stall structured garage and an adjacent half-acre surface lot and spans about 1.9 acres.
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Marcus & Millichap facilitated the sale of a seven-property, 275-unit multifamily portfolio in Los Angeles for $25.3M. The buildings were built in the 1920s, but an infill development site was also included in the transaction.
Neema Ahadian and Jeffrey Estrada of The Neema Group of Marcus & Millichap represented the seller and procured the buyer.
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CBRE facilitated the sale of Imperial Medical Plaza, a 27K SF medical outpatient building at 15651 Imperial Highway in La Mirada to a private Los Angeles-based investor. Called Imperial Medical Plaza, the two-story, multitenant medical office building is approximately 20 miles southeast of Los Angeles proper and 91% leased.
Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof and Jesse Greshin of CBRE U.S. healthcare capital markets partnered with Chris Manassero of CBRE’s healthcare private capital group to act as the exclusive advisers to the seller, Ethan Christopher LLC.
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KWP Real Estate facilitated the sale of 2537 Lincoln Blvd., previously a Rolling Greens, for $6.7M. The seller, Empire at Lincoln LLC, was represented by Lee Shapiro and Christine Deschaine. The property was purchased by Olam 2537 Lincoln Blvd. LLC, an owner-user with undisclosed plans for the property, according to a release from KWP.
CONSTRUCTION AND DEVELOPMENT
GPI completed an adaptive reuse project with the opening of a 201-unit West LA residential complex, Overland & Ayres. The project is a new luxury apartment complex constructed on a portion of Westside Pavilion mall site that was once home to a 1,500-car parking garage for the mall. The apartments range from studio to two-bedroom floor plans, and the project also includes a handful of two-story townhouses.
FINANCING
Sonnenblick-Eichner Co. has arranged $126.1M of first-mortgage debt for Pacifica Hotels to refinance a seven-hotel, 601-room portfolio in Southern California. The portfolio includes oceanfront and coastal hotels in San Diego, Pismo Beach, Venice and Manhattan Beach.
