Built in 2004, The Element is a class-A dedicated student-housing community whose common-area amenities include a pool, spa, sand-volleyball court, covered basketball area and recreation building. The property is surrounded by shops and restaurants, is located approximately one mile from the Cal State-Sacramento campus and offers free shuttle serviced to the university. “This transaction provides a long-term financing vehicle at an attractive rate, which will complement the strong operational performance at The Element,” says Brian Eby, director of transactions of financing with Henderson Global Investors. “It is also consistent with Henderson’s strategy of owning high-quality, by-the-bed student housing assets at preferred universities.”

LEASING

DENVER-IBC Holdings has selected Stream Realty Partners L.P. to provide leasing services for a portfolio of Central Denver industrial properties totaling five buildings and approximately 500,000 square feet. Leasing of the properties will be led by Patrick Blasdell and Ryan Blasdell. The properties include IBC’s Warehouse Central, located at 2395-2525 West 4^th Ave., which is 92% leased; and Bryant Street Quad, located at 2500 West 4^th Ave., 2480 West 4^th Ave., 2475-2485 West 2^nd Ave. and 2390 West 4^th Ave., which is 81.3% leased. A spokesperson for Stream tells GlobeSt.com that Warehouse Central was built in 1962 and had extensive renovations completed since then, while Bryant Street Quad was built in the 1970s and has also had renovations done. Target tenants include businesses requiring flexibility, stable ownership and an unmatched Central Denver location with ease of access to numerous major thoroughfares including highways 6, I-25 and I-70. The spokesperson added that the Central Denver industrial market is very tight, with vacancy slightly over 7%, and has historically boasted one of the lowest vacancies among industrial markets here.

PORTLAND, OR-Pacific Foods of Oregon Inc. has signed a long-term lease for 302,765 square feet at 27255 SW 95^th Ave. in Wilsonville, OR, with the intention to move in approximately September 1. Andy Kangas, VP at CBRE Portland, represented the landlord, Lake Wilsonville Industrial LLC, in the transaction. Matt Baker with Franklin Properties represented the tenant. According to CBRE Research, this lease is the largest existing building lease transaction to occur in the Portland metropolitan area in the past 10 years.

CARSON, CA-3PL Global has signed a 270,764-square-foot industrial lease with Prologis at 2211 E. Carson St. here; the tenant will relocate its corporate headquarters to the new facility. Jones Lang LaSalle team members Sam Foster and Barry Hill represented the landlord, while Chris Jimenez of Feinberg Group represented the tenant.

VICTORVILLE, CA-Modern Space Pacific Services has signed a 47,652-square-foot lease here at Southern California Logistics Centre, a 2,000-acre industrial and commercial complex. The tenant is already in talks about a possible expansion.

CHATSWORTH, CA-Boulder Electric Vehicle has signed a 27,714-square-foot industrial lease at a single-tenant building located here at 9655 Irondale Ave. The new facility represents an expansion from its manufacturing facility in Boulder, CO. Jones Lang LaSalle Los Angeles team members Mike Fowler and Ben Stapleton represented BEV; the landlord, West Valley Industrial Park LLC, was represented by Scott Caswell of Delphi Properties.

SALES

SEATTLE-The QBE Corporate Campus (formerly Unigard Campus), a nine-building, 326,385-rentable-square-foot office campus, is being offered for sale in Bellevue, WA. The campus is located in the SR 520 Overlake submarket, just south of Microsoft world headquarters. Jones Lang LaSalle Capital Markets has been hired to market the property, and managing directors Ann Chamberlin, Lori Hill and Michel Seifer are leading the JLL team on this offering. The campus is 62% occupied.

PORTLAND, OR-Provenance Hotels of Portland and Woodbine Development Corp. of Dallas have acquired the Governor Hotel, a landmark 100-room hotel between 10^th and 11^th aves. downtown from The Royal Bank of Scotland for an undisclosed purchase price. Provenance will become operator of the hotel, while Woodbine will serve as developer and asset manager for the partnership, which plans to update/renovate the hotel and transition it into the Provenance Hotels collection. Acquisition financing is being provided by Morgan Stanley Mortgage Capital Holdings LLC. Hunt Realty Investments Inc., Woodbine’s financial partner, is also participating in the capitalization of the project. The hotel features almost 23,000 square feet of function space, including a 10,000-square-foot grand ballroom, and the popular Jack’s Grill. It is listed on the National Register of Historic Places. CBRE’s Chris Burdett and Matthew Behrens marketed the hotel for The Royal Bank of Scotland.

INLAND EMPIRE, CA-Corona Summit LLC has sold three office buildings totaling 282,760 square feet for $24 million in Corona Summit Corporate Center to Latham Management and Consulting. The property is composed of three class-A mixed-use office buildings located at 2375, 2390 and 2455 Anselmo Dr. John Griffin and John Harty of Voit Real Estate Services’ Irvine office worked with Rob Socci and Peter Castleton of the firm’s Anaheim office to represent the seller in this transaction. The buyer plans to occupy a portion of the property and lease out the remaining space.

EXECUTIVE MOVES

LOS ANGELES-George Smith Partners has added Stephen Stein as VP. Prior to joining GSP, Stein served as regional manager and first VP for Marcus & Millichap; he has been involved in more than 1,000 transactions involving apartment, retail, office, self-storage, single-tenant, land and golf properties across the country. In his new role, Stein will help clients select and craft capital structures which best suit their needs.

PORTLAND, OR-CBRE has promoted three executives in its office here. Mike Sloop has been promoted to director of project management for the local market area; Lynn Purdy has been promoted to senior real estate manager; and Troy Potter has been promoted to director of engineering operations.

DEVELOPMENT

DENVER-Wood Partners LLC is planning to build a 338-unit multifamily community at Alta Alameda Station in the diverse and urban Baker neighborhood here. The community will be built on more than five acres at 275 Cherokee St., west of S. Broadway, directly across the street from the Alameda Light Rail station, which provides rapid access north to downtown Denver and south to the Denver Tech Center. Construction will begin this month on the property’s three buildings, each four stories tall, and will be open for lease in the summer of 2013, with expected completion in early 2014.

LOS ANGELES-Woodbine Development Corp. has opened a Los Angeles office, naming Dupree Scovell as managing director of the West Coast investment/acquisition platform. The new office is located at 11828 LaGrange Ave. Scovell is responsible for identifying real estate acquisition and investment opportunities in the US, focusing primarily on hospitality-related assets, with an emphasis on West Coast partnerships and development ventures. He was previously with Trammell Crow Co. in Dallas, where he served as a financial analyst and senior development associate focusing on retail and mixed-use development.