LOS ANGELES-AMCAL Multi-Housing Inc. has completed construction on a 56-unit, $21 million mixed-use Mosaic  Apartments in the Pico Union area of Los Angeles. The new affordable housing complex is designed to Silver LEED standards. The design by Killefer Flammang Architects is intended to complement historic architecture in the surrounding neighborhood, including homes in the Craftsman, Queen Anne and American Foursquare styles.

PANORAMA CITY, CA-AEW Capital Management paid an undisclosed sum for a 110,000-square-foot industrial building. Chris Jackson and Todd Lorber of NAI Capital’s Santa Clarita, CA office represented both the buyer and the seller, Titan Pacific LLC.

SAN DIEGO-Bixby Land Co. paid $6.3 million for a 73,541-square-foot industrial building in the Rancho Bernardo area. The seller was the Charles W. Hostler Trust. Bryce Aberg, Brant Aberg and Brad Tecca of Cassidy Turley BRE Commercial represented the buyer, while Tony Albin of Colliers International represented the seller.

LEASES

HUNTINGTON BEACH,CA-CenterPoint Properties paid $12.1 million for the 121,3000-square-foot industrial building. Tenants in the building include Red Blue North America, WM Pack Rat and Olukai. Wayne Lambert in the Irvine office of Colliers International represented both the buyer and the seller, Morgan Holdings LLC.

CONSTRUCTION

DENVER-Mercy Housing, a local builder of low-income housing, has started construction on the 92-unit Bluff Lake Apartment Homes. Half the units are to be set aside for families identified as being in transition due to unemployment or other causes, as part of the city’s Road Home initiative. The architect is KTGY Group Inc. of Irvine, CA. Completion is expected in spring 2012.

FINANCING

LOS ANGELES-HFF secured a $34.5 million participating/construction loan for a 78-unit multi-housing development to be known as the bw. Paul Brindley, Todd Sugimoto and Sean Deasy represented the developer, California Landmark.  The non-recourse loan has a term of 12 years, including the 29-month construction period. The loan features what HFF describes as “a low current coupon, plus a split of cash flows to lender and sponsor during the term and at maturity.” The lender was undisclosed.

REPRESENTATION

NEWPORT BEACH, CA-RiverRock Real Estate Group has been hired to manage three million square feet of commercial real estate for Red Mountain Retail Group. Stacey Monroe of RiverRock will serve as portfolio manager.

SAN DIEGO-Jones Lang Lasalle has been hired to represent San Diego County in all commercial real estate transactions. Bill Fleck, Tambra Martinez and Shawn Laurentzen are heading the team for the three-year contract, which has a two-year extension.