Sunset View, located at 2500 Sea Cliff Way in Oceanside, CA was sold for $20.18 million. The 112-unit apartment community, built in 1990, is comprised of 56 one-bedroom and 56 two-bedroom units. The property features upscale amenities, such as spacious floor plans, patios or balconies, gas fireplaces, central air and heat, washers / dryers in units, a resort-style pool and spa, fitness center, and common area clubhouse. It is located close to San Diego's major employment centers, beaches, and key attractions. The seller was Los Altos LLC, West Prince Road LLC, East Roger Road LLC, 250 North Arcadia LLC, Westgate Park LLC, Big Rock Palermo LLC of Los Angeles, CA. The buyer was Greystar GP LLC, a Delaware limited liability company of Irving, TX. The transaction was negotiated by David Andrews, Senior Investment Advisor, of the San Diego office of Hendricks & Partners on behalf of the seller.

Retail Opportunity Investments Corp. has purchased the Marketplace Del Rio shopping center located at 3742-3784 Mission Ave. in Oceanside, CA, for $35.7 million. The 177,136-square-foot shopping center includes tenants such as: Stater Bros., Walgreens, Ace Hardware, Everything $5 Clothing, Blockbuster, Chase Bank, Burger King, US Post Office and others. The seller, Mission Center LLC, and the buyer, Retail Opportunity Investments Corp. were represented by Richard Lebert, Matt Zimsky, Kirk Allison, Vic Gausepohl and Savvas Marinos of Colliers International.

Sacramento

NBS Financial Services EVP Ken Griggs and finance officer Paddy Ryan have arranged a $16-million loan for Granite Park Regional, a 149,000-sq-are-foot office building in Sacramento. Arranging financing for single-tenant buildings can be challenging, especially for a building as large as Granite Park Regional, as lenders see the risk of the building becoming completely vacant. The tenant is the County of Sacramento, which further complicated the transaction as its credit was recently downgraded due to the many challenges in California. But Griggs and Ryan structured the deal creatively to satisfy lender ING Investment Management, one of NBS Financial’s correspondent life insurance companies. The loan is a 12-year loan with the rate fixed for the entire term at under 5%. “Being able to adequately structure a loan of this size for a challenging building suggests that the market is looking up,” Griggs says. “ING, like many lenders, temporarily stopped lending during the height of the recession, but has reentered the market and has set aggressive funding targets for 2011.” The loan will be serviced by NBS Financial on ING’s behalf.

Mike Kalmanson, senior vice president in the office group at Grubb & Ellis Co., and Brian Barnes, senior vice president of the industrial group, represented Altergy Systems in its lease renewal of 35,072 square feet of office space located at 140 Blue Ravine Rd. in Folsom. Altergy Systems uses the office/R&D space to design and manufacture its proprietary proton exchange membrane fuel cell systems, collectively known as Altergy Freedom Power products. The company has been at the property approximately five years. Doug Barnett of Meridian Properties represented the owner of the property, Commercial Realty Advisors, in the transaction.

Denver

Paramount Lodging Advisors has sold the luxury Hotel Les Mars in Sonoma County, kicking off the company’s official expansion of PLA’s West Coast presence which includes the opening of the company’s newest office in Denver. Steve Mills, PLA’s senior managing director who oversees the company’s Western US business, will be leading the expanded team. Mills states, “With transaction volume increasing and geographic focus becoming even more important to clients, we feel it is an opportune time to strategically grow the company.” Illustrating what is an improving Western hotel market, PLA San Francisco recently closed the sale of Hotel Les Mars, a boutique Relais & Chateux luxury hotel located in Healdsburg, California. At a price of more than $300,000 per key, this sale represents the highest price paid for a hotel in the region in more than 3.5 years. PLA continues to build its infrastructure and team to facilitate one of its primary principles—cooperative brokerage, according to a prepared statement. In that regard, the company will be adding a full time agent dedicated to west coast brokerage and advisory services and operating from PLA’s headquarter office in Chicago.