RANCHO SANTA FE-JMI Realty Partners has acquired the Inn at Rancho Santa Fe from the Huntington Hotel Co. Although a sales price wasn’t disclosed, an unnamed source familiar with the deal tells GlobeSt.com that the guidance pricing at the start of the marketing program was in the low $30-million range. Rod Apodaca, Bob Kaplan and Jed Stirnkorb of CBRE represented the seller. Acquisition and renovation financing was provided by Mike Atkins at Bank of America.

LOS ANGELES-The Magellan Group, a leading Southern California real estate investment and development firm, has purchased two Los Angeles storage facilities for $11.2 million, adding to its portfolio of Magellan Storage properties located throughout the Southland. The Magellan Group is already underway with plans to rebrand both properties with its Magellan Storage brand and perform substantial improvements to the storage facilities. Combined, the two facilities are approximately 58% leased. The Magellan Group is actively pursuing additional Southern California storage investments and is, for the first time in several years, seeking development opportunities for storage properties in order to capitalize on improved market fundamentals and the strength of the Magellan Storage franchise. The acquisition includes a three-story building at 801 E. Commercial St., a 717-unit storage facility with outstanding visibility along the 101 Freeway in downtown Los Angeles. Converted to a storage facility in 2004, the property will undergo improvements consistent with the signature designs found in all Magellan Storage properties. Lobby improvements will feature a business center with work stations, a coffee bar and a retail area to serve the storage supply needs of both commercial tenants and downtown loft residents. Exterior improvements will include new paint, brick accents and signage that will make the most of the property’s highly visible freeway location. The portfolio acquisition also includes a 942-unit storage facility at 700 E. Slauson St. just south of downtown Los Angeles. The property, which was also converted to storage usage in 2004 and benefits from a densely populated infill location, will undergo surveillance system upgrades and improvements throughout the property that are thematically consistent with the Magellan Storage brand. Doug McCarron of Holliday Fenoglio Fowler represented the Magellan Group in the transaction.

LEASES

COMMERCE, CA-Chameleon Beverage Co. has renewed 134,000 square feet of industrial space at 6444 26th St. in Commerce, CA. The space serves as the corporate headquarters for the company. Jones Lang LaSalle represented the tenant.

BUENA PARK, CA-Colliers International represented RockTenn Corp. in a five-year lease transaction valued in excess of $3 million. The 110,609-square-foot industrial building is located at 5600 Knott Avehere. RockTenn will distribute corrugated paper products from the location. The landlord, Crown Associates Realty Inc., was represented by Scott Smith and Tim Cronin of Lee & Associates. RockTenn Corp. is relocating from Santa Fe Springs to the Buena Park site.

FINANCING

SAN JOSE, CA-Cohen Financial has secured a $7.95 million refinancing of the Canyon Creek Plaza Shopping Center, a high-profile grocery anchored retail property in the upscale Silver Creek area of San Jose, CA. Canyon Creek Plaza, a 58,215-square-foot center is anchored by a New Leaf Community Markets. The borrower is a Santa Clara County-based real estate investor/developer group.

LOS ANGELES-Commercial real estate investment banking firm George Smith Partners has arranged a total of $22.8-million in financing for Doerken Properties Inc. for two Salt Lake City properties owned by affiliates of the company. The GSP team arranged financing for two properties, including a $15.3 million bridge loan on a class B office building as well as the $7.5-million refinance of a retail property. The firm tells GlobeSt.com that it cannot release any information regarding the owner’s identity at this time.

EXEC MOVES

Inverness Properties LLC adds Rick Egitto to the firm. He will be focusing on investment sales and acquisitions. Rick has more than 30 years of commercial real estate experience, focused on investment sales, asset management and transaction services. He was most recently with Trinity One Group, where he oversaw the firms diversified brokerage operation as their managing director. He was previously with Crimson Service LLC for nine years, where he led all aspects of this full-service commercial real estate firm based in Lone Tree, CO.

SAN DIEGO-Poised for further growth, Pathfinder Partners LLC—a San Diego-based firm which makes opportunistic investments in distressed real estate assets and defaulted loans—has hired distressed real estate veteran Tony O’Neill as its director of acquisitions and Jon Mesa as acquisitions analyst. Both come to the firm from Voit Real Estate Services, where O’Neill was previously a vice president. Mesa was previously a financial analyst for Voit’s O’Neill & Askew Team, specializing in distressed note and asset sales in California, Arizona and Nevada.

SANTA MONICA, CA-The William Warren Group Inc. adds former EVP and CFO of Extra Space Storage, Kent Christensen, to the firm as COO. Christensen will be in charge of institutional capital relationships, internal infrastructure development and will assist in strategic partnerships to lead the company in various growth strategies.