NEW & NOTABLE

NEWPORT BEACH, CA—KBS Capital Advisors of Newport Beach has hired Ben Aitkenhead as Managing Director. In his new role, Ben will be responsible for developing new capital sources in order to broaden the range of transactions by KBS. He will be focused on building out the private placements platform. Ben will report to Keith Hall and Peter McMillan, co-founders of KBS Capital Advisors. Prior to joining KBS, Ben spent 20 years at Credit Suisse. In his most recent role, he served as a managing director and was also a member of the Global Fixed Income Operating Committee. Prior to that, Ben held multiple positions within the Fixed Income and Investment Banking team, including Co-Head of Securitized Products Sales & Trading and Head of Securitized Product Sales, among others. Ben is also an independent trustee to Blackstone Real Estate Investment Fund, Blackstone's publicly listed, commercial real estate investment fund.

LOS ANGELES—JLL Capital Markets has hired Toni Steele as an Executive Vice President. Steele comes to JLL from Goldman Sachs, where she spent 22 years within the firm's real estate investment business in both the United States and Europe. As a member of JLL's Southwest Capital Markets team, Steele will focus on acquisitions, dispositions, recaps and financings. Her unique background makes her an additional resource to clients seeking more structured solutions to their investment needs.

Los Angeles, CA—NAI Capital has hired Eric Hasserjian, former Managing Director of Asset Services for CBRE as President and Chief Executive Officer of NAI Capital Management, which provides property management solutions for enhancing net income and increased asset values to commercial real estate owners. He will be based out of the West Los Ageless office.

LOS ANGELES—HFF announces senior managing director Bill Fishel has been appointed to co-head the firm's Los Angeles office. Fishel will lead the office's debt and equity placement business alongside senior managing director Paul Brindley, who will oversee the office's investment advisory platform. Executive managing director Kevin MacKenzie, previously co-head of the Los Angeles office, has stepped out of the day-to-day oversight of the office and has been elevated to HFF's seven-member executive committee, which is responsible for implementing the strategic direction of the firm.

PHOENIX–Marcus & Millichap has hired Michael Farrar as a part of the National Office & Industrial Properties Group. Farrar brings over 20 years of experience in real estate, both commercial and residential. He previously worked at Colliers International where he served his clients in site selection, sourcing and underwriting of new investment opportunities, asset valuation analysis, and disposition of real estate asset holdings.

IRVINE, CA—KTGY Architecture + Planning has been recognized at The Nationals Award Show held in conjunction with the NAHB International Builders Show. The awards honor the firm's wide range of capabilities, excellence and innovation in addressing complex design/build issues in attached, detached and 55+ housing. Started in 1982 as the Institute of Residential Marketing, The Nationals award program continues to recognize superior new home sales and marketing achievements. With 57 categories across various disciplines of the new home industry, the awards honor excellence in product and community design, advertising, marketing and sales achievements by individuals and sales teams.

LOS ANGELES—Ory Schwartz, senior vice president/managing director of NorthMarq Capital's Los Angeles regional office, negotiated refinancing of $13.5 million for Billy G. Mills Manor, a 102-unit multifamily property located in Los Angeles, California. This complex is strategically located near attractions such as LA Memorial Coliseum and offers very affordable rates. The deal was structured with a 35-year loan term on a 35-year amortization schedule. NorthMarq arranged financing for the borrower through its FHA program.

LOS ANGELES—Daniel McCarthy, senior vice president/senior director of NorthMarq Capital's Los Angeles regional office, negotiated the $15.1 million refinance of Summer Creek, a 156-unit multifamily property located in Escondido, California. Summer Creek is a pet friendly complex located just outside of San Diego, and features a wide variety of amenities. This transaction was structured with a 10-year interest only loan term. NorthMarq arranged financing for the borrower through its Fannie Mae platform.

DEALTRACKER

PHOENIX—KeyBank Real Estate Capital has secured a $31.2 million Fannie Mae, first mortgage loan for Bela Rosa Apartment Homes, located in Anthem, a master-planned community in the city of New River, AZ. The 354-unit, Class A property was built in 2007 and consists of 37, three-story townhome-style apartment buildings. Fred Dockweiler of Key's Commercial Mortgage Group arranged the financing with a 10-year term and 30-year amortization schedule. The loan was used to refinance existing debt.

LOS ANGELES—Hunt Mortgage Group has provided a $33.6 million Fannie Mae loan to refinance Summit Mobile Home Park located in West Hills, California. Summit Mobile Park is the first manufactured housing community in the United States to receive financing under Fannie Mae's Green Rewards program. A portion of the loan proceeds will be used to install solar panels to boost energy efficiency. Summit Mobile Home Park is a 203-pad manufactured housing community located at 24425 Woolsey Canyon Road. The property was built in 1980 and includes a single-story building containing the leasing office and clubhouse, which includes an assembly room, a service kitchen and a billiards room. All of the property's pads are large enough to accommodate doublewide homes. Property amenities include tennis courts, a swimming pool and spa. The property has a total of 456 parking spaces, including 50 guest spaces and two spaces for each pad. There are an additional 15 vehicle storage spaces. The borrower is Summit Mobile Home Community, LLC, backed by key principals Louis Miller, Larry Miller and Philip Miller. The loan term is 15-years with 5 years of interest-only payments.

LAS VEGAS—Scott Monroe, senior vice president and managing director of NorthMarq Capital's Las Vegas regional office, has negotiated the $27.6 million to refinance of Element, a 46-unit student housing property located at 2595 S. Hoover Street, Los Angeles, California. The brand new complex is in a prime position of the University of Southern California's (USC) campus and offers numerous modern amenities to comfort all USC students. This transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Freddie Mac.

SAN DIEGO, CA—RAF Pacifica Group has acquired the 39,000 square-foot retail portion of Pacific Station, a 100,000 square-foot mixed-use asset encompassing residential, office and retail space, in the heart of the coastal community of Encinitas, California for $24 million. The retail center is currently occupied by high-quality national tenants including Amazon, Whole Foods, and Wells Fargo, among many others. According to Founder and President of RAF Pacifica Group, Adam Robinson, this acquisition is well aligned with the firm's ongoing strategy to diversify its portfolio throughout San Diego County.

PHOENIX—CBRE and Keyser have negotiated a 44,603-square-foot lease between On Q Financial and The Circuit, located at the Loop 101 and University Drive in Tempe, Ariz. On Q Financial, the leading online provider of mortgage tools for home loans, mortgages, electronic lending and loans, will open in the space in March 2018. Bryan Taute and Charlie Von Arentschildt with CBRE's Phoenix office represented the landlord, Denver-based EverWest Real Estate Partners, in the lease negotiations. On Q Financial was represented by Matt Cummings and Jim Sadler with Keyser. The recently redesigned, Class A creative office space at 615 S. River Drive offers expansive open floor plates, natural light, and outdoor amenities including barbeques, bocce ball courts and landscaped patios.

GLENDALE, AZ—A 13,833-square foot net-leased Walgreens located in Glendale, AZ, according to Ryan Sarbinoff, regional manager of the firm's Phoenix office. The asset sold for $4.3 million. Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap's Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

SAN DIEGO—Regency Centers Corporation has acquired Scripps Ranch Marketplace. The 132,000-square-foot shopping center is anchored by Vons as well as CVS, Starbucks, and other local operators. Scripps Ranch Marketplace is strategically located near Interstate 15 off Scripps Poway Parkway, which services over 225,000 vehicles per day. This acquisition brings Regency's footprint in the San Diego area to over two million square feet of community-serving retail. Other Regency shopping centers in the San Diego region include: Costa Verde Center, Balboa Mesa Shopping Center, Friars Mission Center, The HUB Hillcrest Market, Point Loma Plaza, Navajo Shopping Center, El Norte Parkway Plaza and Rancho San Diego Village.

LOS ANGELES—Lowe Enterprises Investors has acquired a 26-building portfolio of industrial and office buildings totaling 2.3 million square feet from AIC Ventures. The properties, known as the NL Ventures IX Portfolio, are located in 16 states, spanning 24 major submarkets primarily in the Midwest and Eastern U.S., with the largest concentrations in Connecticut, Illinois, Ohio, Minnesota, Wisconsin, Texas, and New Jersey. The majority of the properties are industrial buildings that range from flex to light manufacturing facilities, and four are suburban mid-rise office buildings. The buildings are 100 percent leased to long-term, single tenants with an average tenure of 25 years in the buildings and an average 13-year remaining lease term. Each property serves as a critical component of tenant operations, with 16 serving as tenants' headquarters. The well maintained, efficient, and flexible buildings were constructed between 1954 and 2008. Many of the buildings have been upgraded and expanded over the years.

LOS ANGELES— Markwood Enterprises has secured a $23.1 million bridge and construction loan for the repositioning of the historic nine-level 900 South Hill Street Garage located in the heart of downtown Los Angeles, CA. Mark Fisher and Alex Furnary of CBRE's New York office with the assistance of Val Achtemeier of CBRE's Los Angeles office secured the loan on behalf of the developer, LA-

based Markwood Enterprises. Markwood will construct an additional floor and combine and expanded the ground floor space to accommodate a single tenant, Erewhon, a popular organic market. The top three floors will be re-purposed as creative office space and the balance of space will continue to operate as a garage.

NEWPORT BEACH, CA— Watermarke Properties has secured a $145.681 million in combined financing for four multi-housing properties totaling 930 units in various California locations. HFF worked on behalf of the borrower to secure the financing in four separate 10-year, fixed-rate loans placed with Freddie Mac's CME Program. The securitized loans will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. The portfolio includes Adagio on the Green located at 26600 Oso Parkway in the Orange County community of Mission Viejo (256 units); One11 Apartments located at 111 W. Harrison Street in the Riverside County community of Corona (178 units); and Park Place at Fair Oaks located at 9800 Fair Oaks Boulevard (288 units) and Hazel Ranch Apartments at 8842 Winding Way (208 units) in the Sacramento County Community of Fair Oaks. The HFF debt placement team included senior director Greg Brown.

PHOENIX—Marcus & Millichap has led the $21 million sale/leaseback of a two-property industrial portfolio. The properties are a 56,000-square-foot rail-served lumberyard and industrial building in Roseville, California, and a 79,000-square-foot manufacturing facility in Chandler, Arizona. The Phoenix-based industrial team of Jay Krew and Paul Berkner, both members of Marcus & Millichap's National Office and Industrial Properties Group, represented the seller, Erickson Construction, and procured the buyer, STORE Capital Corp. Russ Moroz, senior associate in Sacramento, assisted with the Roseville property sale. Kent Williams, senior vice president, is Marcus & Millichap's broker of record in California. Ryan Sarbinoff is the firm's broker of record in Arizona.

LOS ANGELES—Adidas and Burn Fitness Building on Santa Monica's prominent Third Street Promenade has traded hands for $30.3 million to a partnership of two private Beverly Hills investors. CBRE's retail expert Orbell Ovaness represented the seller, San Diego Promenade Investors, LLC, a private family office. Orbell also negotiated seller financing for the transaction. The asset features high-street retail with a value-add component. It is situated in one of the busiest pedestrian districts in Southern California, with a rare 70' frontage. This coastal location attracted more than 500 executed confidentiality agreements from interested national and international investors through CBRE's marketing platform.

BUILDING BLOCKS

Los Angeles, CA—Ventus Group has launched a search for joint venture equity partners for “The Fig,” a 4.4-acre, $300 million mixed-use development, located south of L.A. Live/Los Angeles Convention Center and walking distance to the University of Southern California campus and the 160-acre Exposition Park. Eric Bergstrom of Bergstrom Capital Advisors, Inc. was selected as the exclusive real estate capital market advisor for Ventus Group. The seven-story project will feature approximately 408 residential units for 931 student housing, market-rate, and affordable residents, over 74,000 square feet of commercial space including creative office space, and numerous destination retail and outdoor dining establishments, and a 298-room dual branded hotel.

LOS ANGELES—The team behind 1111 Sunset Boulevard has unveiled conceptual plans to transform the long-dormant 5.5-acre site into a modern community hub on the edge of Downtown Los Angeles. Plans for the property—the last remaining large parcel to sit vacant within the Central City North community plan area—feature residential, retail and creative office space uses, along with public open space and a boutique hotel designed by Kengo Kuma. The plan calls for 778 residential units, a mix of market-rate and affordable, to help meet the City's goals for new housing near job centers. Designs show low-rise bungalow style residences with a similar scale and character to the surrounding residential neighborhood as well as two high-rise residential buildings raised above the landscape, allowing pedestrians at eye-level to enjoy views of the Downtown skyline. Additionally, the project incorporates more than two acres of open space designed by James Corner Field Operations, which include terraces, gardens, courtyards, water features, and an overlook with views of downtown.