GARDEN GROVE, CA—Capital One has provided $76.7 million in Fannie Mae loans for Kort & Scott Financial Group, an owner and operator of private manufactured housing. The loans were all for California properties to refinance Kort & Scott to refinance an MHC community in Garden Grove ($15.4 million), to acquire an apartment community in Norwalk ($18.7 million), and to refinance an apartment community in Van Nuys ($42.6 million). SVP Chad Thomas Hagwood, who leads Capital One Multifamily Finance's Southeast region, originated the following transactions, which all closed in 45 days, from application to funding.

GOLETA, CA—An unnamed borrower has secured a $29 million dollar, for a retail center in Goleta. Newly constructed in 2016, the center is comprised of five multi-tenant retail buildings and one single-tenant pad building, and includes 75,564 SF of gross leasable area and two long-term anchor tenants. PSRS Principal Mike Thorp arranged the 10-year, non-recourse loan, with one of PSRS' correspondent life insurance companies, and secured a fixed interest rate for a long-standing borrower. The loan amortizes in 30 years, and the borrower is using the proceeds to pay off construction costs. The Shopping Center has good access and commercial exposure due to its direct placement along a frontage road to the freeway, which is also a main arterial within the trade area.

LOS ANGELES—The Alameda Distribution Center, a 23-acre industrial land site, in Lynwood, has traded hands between a private investor and Terreno Realty Corp. The publicly traded industrial real estate investor bought the fee interest in the land for $31.4 million. CBRE's Robert Flores and Andrew Briner represented the seller, Lynwood-Alameda Corp. in the sale of the fee interest in the land. The rail-served property, located at 11840 and 11852 Alameda Street and 2800 Lynwood Road, is ground leased long-term by Travelers Insurance and Cargill Inc., a global grain and agricultural commodities producer and distributor. The Travelers Insurance portion of the site is highly improved with two Class A industrial buildings totaling approximately 465,000 square feet, both of which are fully leased.

SAN DIEGO, CA—Azuza Pacific University has signed a lease expansion and extension for 48,000 square feet of office space at Mission Center, a three-building, 183,692-square-foot office park located at 5333 and 5353 Mission Center Road in San Diego. The space will continue to serve as the university's San Diego regional campus. JLL's Richard Gonor, Tony Russell and Brandt Riedman represented the landlord Kearny Real Estate in the lease with Azusa Pacific University and several recent leases at Mission Center. Greg Nassir and Scott Kincaid with CBRE represented Azusa Pacific University.

LOS ANGELES—The Fine Arts Building, a 12-story 115,902-square-foot historic creative office building situated in the heart of the Financial District in Downtown Los Angeles, has traded hands for $43 million. NGKF Capital Markets President, West Coast Capital Markets Kevin Shannon, Executive Managing Director Ken White, Managing Director Laura Stumm, and Managing Director Gibran Begum, represented the seller, Sorgente Group of America, as well as the buyer, Manchester Capital Management. Built in 1926 and renovated in 2016, the Fine Arts Building is located at 811 West 7th Street. It is 87.5 percent leased to a mix of tenants including its anchor tenant, WeWork, one of the fastest growing office space operators in the United States, which occupies 39 percent of the building. Additional tenants include Pfeiffer Partners Architects, LTK Consulting Services, Hypothesis, SWA, among others.

LOS ANGELES—California Landmark Group has acquired The Windmill Apartments located at 15400 Belgrade St, Westminster, CA. The property is a 186-unit apartment community, comprised of 22 separate buildings and is CLG's first acquisition in Orange County. The entire property is encumbered by a Ground Lease with approximately 29 years remaining on the term, with no options to extend. CLG purchased the leasehold interest for $17.2 million. The Windmill Apartments, situated on 8.6 acres, was constructed in 1973. The property amenities include a large community center, pool and spa, two tennis courts, ample parking, and multiple community barbeque locations. The property is walking distance to the Little Saigon neighborhood of Westminster, which includes a multitude of shopping and dining options. Peter Gillin and Ken Morgan of Morgan Skenderian represented both buyer and seller in this transaction, which was completed within 45 days of executing the Purchase Agreement.

LOS ANGELES— Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

NEW & NOTABLE

SAN DIEGO—Kevin Thene has joined Kidder Mathews' San Diego office in an expansion of the firm's Valuation Advisory Services in the Southern California markets. Thene has been in the commercial real estate valuation industry for over 30 years, the last 13 years as a managing director for Cushman & Wakefield. His move to Kidder Mathews was motivated by a desire to create an alternative to the national valuation platforms and provide a high-level of expertise to the valuation advisory services in Southland. He has worked with clients throughout the Western United States preparing valuation and consulting projects involving a wide variety of property types large and small. He holds the prestigious MAI designation from the Appraisal Institute, and is qualified as an expert witness in bankruptcy and civil matters in the State of California and in federal court.

DEALTRACKER

GARDEN GROVE, CA—Capital One has provided $76.7 million in Fannie Mae loans for Kort & Scott Financial Group, an owner and operator of private manufactured housing. The loans were all for California properties to refinance Kort & Scott to refinance an MHC community in Garden Grove ($15.4 million), to acquire an apartment community in Norwalk ($18.7 million), and to refinance an apartment community in Van Nuys ($42.6 million). SVP Chad Thomas Hagwood, who leads Capital One Multifamily Finance's Southeast region, originated the following transactions, which all closed in 45 days, from application to funding.

GOLETA, CA—An unnamed borrower has secured a $29 million dollar, for a retail center in Goleta. Newly constructed in 2016, the center is comprised of five multi-tenant retail buildings and one single-tenant pad building, and includes 75,564 SF of gross leasable area and two long-term anchor tenants. PSRS Principal Mike Thorp arranged the 10-year, non-recourse loan, with one of PSRS' correspondent life insurance companies, and secured a fixed interest rate for a long-standing borrower. The loan amortizes in 30 years, and the borrower is using the proceeds to pay off construction costs. The Shopping Center has good access and commercial exposure due to its direct placement along a frontage road to the freeway, which is also a main arterial within the trade area.

LOS ANGELES—The Alameda Distribution Center, a 23-acre industrial land site, in Lynwood, has traded hands between a private investor and Terreno Realty Corp. The publicly traded industrial real estate investor bought the fee interest in the land for $31.4 million. CBRE's Robert Flores and Andrew Briner represented the seller, Lynwood-Alameda Corp. in the sale of the fee interest in the land. The rail-served property, located at 11840 and 11852 Alameda Street and 2800 Lynwood Road, is ground leased long-term by Travelers Insurance and Cargill Inc., a global grain and agricultural commodities producer and distributor. The Travelers Insurance portion of the site is highly improved with two Class A industrial buildings totaling approximately 465,000 square feet, both of which are fully leased.

SAN DIEGO, CA—Azuza Pacific University has signed a lease expansion and extension for 48,000 square feet of office space at Mission Center, a three-building, 183,692-square-foot office park located at 5333 and 5353 Mission Center Road in San Diego. The space will continue to serve as the university's San Diego regional campus. JLL's Richard Gonor, Tony Russell and Brandt Riedman represented the landlord Kearny Real Estate in the lease with Azusa Pacific University and several recent leases at Mission Center. Greg Nassir and Scott Kincaid with CBRE represented Azusa Pacific University.

LOS ANGELES—The Fine Arts Building, a 12-story 115,902-square-foot historic creative office building situated in the heart of the Financial District in Downtown Los Angeles, has traded hands for $43 million. NGKF Capital Markets President, West Coast Capital Markets Kevin Shannon, Executive Managing Director Ken White, Managing Director Laura Stumm, and Managing Director Gibran Begum, represented the seller, Sorgente Group of America, as well as the buyer, Manchester Capital Management. Built in 1926 and renovated in 2016, the Fine Arts Building is located at 811 West 7th Street. It is 87.5 percent leased to a mix of tenants including its anchor tenant, WeWork, one of the fastest growing office space operators in the United States, which occupies 39 percent of the building. Additional tenants include Pfeiffer Partners Architects, LTK Consulting Services, Hypothesis, SWA, among others.

LOS ANGELES—California Landmark Group has acquired The Windmill Apartments located at 15400 Belgrade St, Westminster, CA. The property is a 186-unit apartment community, comprised of 22 separate buildings and is CLG's first acquisition in Orange County. The entire property is encumbered by a Ground Lease with approximately 29 years remaining on the term, with no options to extend. CLG purchased the leasehold interest for $17.2 million. The Windmill Apartments, situated on 8.6 acres, was constructed in 1973. The property amenities include a large community center, pool and spa, two tennis courts, ample parking, and multiple community barbeque locations. The property is walking distance to the Little Saigon neighborhood of Westminster, which includes a multitude of shopping and dining options. Peter Gillin and Ken Morgan of Morgan Skenderian represented both buyer and seller in this transaction, which was completed within 45 days of executing the Purchase Agreement.