The owner of two mobile home parks has refinanced them with two loans totaling more than $18 million that were arranged by Jeff Tomei of Newport Beach, CA-based Knightsbridge Realty Capital. Both loans were provided by a national bank to pay off maturing CMBS debt. One loan was for $7.1 million for a stabilized property with a long history of high occupancy. It was for 10 years at a spread of 200 basis points over 10-year swaps, amortizing over 30 years. The second loan was for a park with some higher vacancy, thus more upside potential. It was a five-year, partial-recourse floating rate loan with two one-year extensions, 275 basis points over Libor, interest only.

Rancho Logistics LLC signed a five-year, $3.1 million lease for a 172,560-square-foot industrial facility at 11671 Dayton Dr. in Rancho Cucamonga. The tenant was represented by Vince Anthony, principal/SVP of Lee & Associates' Ontario office. The landlord, Krausz RC Properties One LLC, was represented by Voit Real Estate Services. The company consolidated two warehouse locations in Walnut and the City of Industry into the Rancho Cucamonga faciity.

Developer Seventh Street sold two industrial buildings in Pomona and San Bernardino to two local manufacturing companies. At the 462,000-square-foot Mission-71 Business Park in Pomona, Eden Equipment Co. bought an 18,500-square-foot building for $2.2 million. The buyer was represented by Larry Kliger of Lawrence Allen & Associates and Seventh Street by Lynn Knox and Barbara Emmons of CB Richard Ellis. In the other sale, Technology Solutions & Services Inc., a remanufacturer of LCD Monitors and computers for Hewlett Packard, bought a 15,200-square-foot building at the 191,000-square-foot Waterman Business Center in San Bernardino for $1.1 million. The buyer was represented by Grace Machado of Ken Scott Real Estate.

Cobalt Capital Partners LP of Dallas, through its Cobalt Industrial REIT III affiliate, has acquired the 111,890-square-foot Dupont Business Center in Ontario, its first investment in the Los Angeles region. Cobalt plans to reconfigure and reposition the property, which was built in 2001, to accommodate multiple tenant suites. Lew Friedland, managing partner of Cobalt Capital Partners, says the company is looking for additional investment opportunities in the region.

MCA Realty Inc. bought a 38,623-square-foot industrial multi-tenant park at 1675-1693 Arrow Route in Upland from First Citizens Bank. Michael Lawrence of Marcus & Millichap represented both parties in the transaction. MCA has completed some aesthetic refurbishments to the property and is actively leasing it. MCA is a newly formed real estate operating company with industry veterans Tyler Mattox, Peter Cheng, and Jared Gordon as its principals.

NORTHERN CALIFORNIA

KTR Capital Partners of New York City bought a 12.5-acre, 130-door cross-dock facility at 3255-3425 Victor St. in Santa Clara from a private seller for an undisclosed price. KTR was represented by associate James Viso, senior associate Nigel Keep and senior vice president Steve Sprenger of Grubb & Ellis Co. The property is fully occupied by FedEx Corp., which operates the facilities in combination with the Mineta San Jose International Airport to ship, receive and deliver packages.

Pleasant Hill Center

Ross Dress for Less has signed a lease for 30,000 square feet at Pleasant Hill Shopping Center in Pleasant Hill, bringing the center to 99% occupancy, according to property owner Regency Centers. Pleasant Hill Shopping Center is a 234,000-square-foot community center anchored by Target, Toys“R”Us and Barnes & Noble Booksellers alongside a number of national retailers.

LOS ANGELES COUNTY

The buyer of the 48-unit, 98% occupied Walnut Village Apartments in Santa Clarita obtained a $5.3 million Fannie Mae conventional loan for the acquisition, which was part of a 1031 Exchange. The loan was originated by Jonathan Wintner of Meridian Capital Group LLC and was financed by Beech Street Capital as part of its correspondent relationship with Meridian. The Beech Street team consisted of underwriter Lisa Deephouse based out of Beech Street’s Los Angeles office and closer Lisa Pierotti. Wintner noted that the transaction closed 29 days after application to accommodate the purchase and the buyer’s 1031 Exchange timeframe. The fixed-rate loan has a seven-year term with two years interest-only, 6.5 years yield maintenance, and a 30-year amortization schedule, payable on a 360/actual basis.

817 Wilcox Ave.

Los Angeles-based 821 Wilcox Avenue LLC bought an 18-unit apartment complex at 817 Wilcox Ave. from Encino, CA-based 813 Wilcox LLC for $4.42 million. The buyer was represented by Michel Hibbert of Charles Dunn Co. The seller was represented by David Meir of KW Commercial. The unit mix consists of 14 two-bedroom/two-bathroom units with rents ranging from $1,600 to $1,800; two, two-bedroom/two and a half bathroom units with rents ranging from $1,890 to $1,936 and two, two-bedroom/two and a half bathroom townhouse units with rents at $2,200. Hibbert said the property offers the buyer upside by bringing the units up to market rents, thanks to its location in the southern section of Hollywood, where redevelopment has takne place that “will lead to higher rents and appreciation in the future.”

Herbalife International signed a 10-year lease for 148,908 square feet of industrial space at 18431 S. Wilmington within Dominguez Technology Center, a 438-acre master planned business center in Carson. The new facility represents a relocation of Herbalife’s West Coast distribution center from an 82,471-square-foot building at 922 E. 233rd St. in Carson, according to the JLL team of Mike McRoskey, Tim O'Rourke, Frank Scott and Barry Hill that represented Herbalife in the transaction. The property owner, Watson Land Co., was represented in-house by Lance Ryan.

Lion Sanborn LLC bought a 24–unit apartment complex at 1042 Sanborn Ave. in Silverlake from 1042 Sanborn LLC for $2.6 million at a 6.8% cap rate. The buyer and the seller were both represented by Henry Garcia of KW Commercial. The building, which was built in 1913, had one vacant unit at the time of the sale.

ORANGE COUNTY

Westwood Financial Corp. of Los Angeles sold the 56,945-square-foot Brea Center at 719-96 Brea Blvd. in Brea to Gerrity Atlantic Retail Partners LLC for $14.5 million. The center, which Westwood Financial owned for 20 years, consists of 20 units and is 89% leased. Joe Dykstra, executive vice president of Westwood Financial Corp., says the company plans to redeploy funds from the transaction into new properties in markets such as Georgia, Florida and the Carolinas. Preston Fetrow of CB Richard Ellis represented Westwood Financial in the transaction.

The Orange Financial Center at 701 Parker St. in the city of Orange became the first commercial office building in Orange County to install an Electric Vehicle Charging Station, according to Chris Nichelson, president of Milan Capital Management, the owner and manager of the property. Nichelson explained that office workers and guests of Orange Financial Center now can recharge their vehicles for free while at work or visiting the property. Milan teamed with ECOtality to provide the charging station, which is connected to the “Blink Network” so that EV users can locate the charging station online and through their smart phones. Milan Capital Management also installed an EV charging station at its office building in North Hollywood located at 6400 Laurel Canyon Blvd., becoming the first commercial office building in Los Angeles to provide such a service, Nichelson noted.