Colliers represented the Beverly Community Hospital Association in the Chapter 11 bankruptcy sale of its real estate holdings in Montebello. Adventist Health White Memorial acquired the hospital and associated real estate.
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The real estate holdings included about 17 acres, the 202-bed acute care hospital, a four-story medical office building, a 12-unit multifamily property, two retail sites, vacant land, single-family homes and other medical buildings. Colliers announced the sale but didn't disclose pricing details.
Colliers Vice Chair Sean Fulp and Executive Vice Presidents Ryan Plummer and Mark Schuessler managed the disposition of the real estate portfolio.
PEOPLE
Kidder Mathews hired Brad Kraus in the firm’s debt and equity finance division. Kraus joins as an executive vice president. Prior to Kidder Mathews, Kraus and his team were with James Capital Advisors, formerly Ascension. Kraus previously served as director of capital markets for James Capital Advisors.
SALES
Boston-based Longpoint Partners purchased the 275K SF John Reed Commerce Center, a 15-building project in City of Industry. The property was 83% leased at the time of sale.
Cushman & Wakefield’s Jeffrey Cole, Jeff Chiate, Rick Ellison, Bryce Aberg, Mike Adey, Brad Brandenburg and Matthew Leupold in the firm’s national industrial advisory group in Southern California represented the seller, an undisclosed global investment adviser. Local market advisory was also provided by Cushman & Wakefield’s Chris Tolles.
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The AIDS Healthcare Foundation has purchased an approximately 54K SF warehouse and distribution facility at 18421 South Main St. in Carson for $20M. The seller, Shultz Properties, was represented by Kidder Mathews brokers Andrew Dilfer, Luke Staubitz and Harvey Beesen. The buyer was represented by BRC Advisors’ Ram Rafiee.
LEASES
Staley Point Capital leased a full 123K SF industrial building at 2187 Garfield Ave. in Commerce to third-party logistics firm LAX Freight Delivery. The new lease represents a relocation from a smaller facility for LAX Freight Delivery. JLL’s Jon Reno, Mark Vanis, Trevor Gale and Sage Segal represented the landlord. LAX Freight Delivery was represented by Lee & Associates’ Marc DeGennaro.
FINANCING
BWE secured $190M to refinance a portfolio of three warehouse properties in Ontario. BWE Senior Vice President Max Sauerman along with Assistant Vice President Tyler Shebeck and Transaction Manager Erin Briggs originated the 7.5-year, fixed-rate, interest-only loan through New York Life Real Estate Investors on behalf of a Dedeaux Properties-controlled entity. Loan terms included prepayment flexibility.
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