MIDVALE, UT-Woodbury Strategic Partners Fund has purchased Midvale Plaza, a 105,174-square foot retail strip here, from a national real estate developer whose identity was not revealed. The terms of the sale were also not disclosed. Tod Jones, an associate in Marcus & Millichap’s Salt Lake City office, represented the seller and also procured the buyer. The property is located approximately 13 miles south of Salt Lake City at 73 West 7200 South, two blocks from Interstate 15. The population within five miles is 310,822, and the estimated annual household income within five miles is $61,562. Built in 1976 on 8.2 acres, Midvale Plaza is anchored by Savers. Other tenants include West Marine, Home Fabrics and Tenochtitlan Super Market. The shopping strip features high-visibility signage, and excellent parking, access and visibility.

CENTRAL VALLEY, CA-Los Angeles-based real estate investment company Trion Properties has acquired two multifamily assets in Fresno, CA, and Sacramento, CA, while successfully selling another in Auburn, CA. The company acquired 124 units in Fresno and in a separate transaction acquired a portfolio of four nonperforming notes on 224 units in Sacramento, for a total of 348 units in the Central Valley. The Fresno asset, La Costa Apartments, located at 1535 N. Cedar Ave., was acquired out of a special servicer’s REO portfolio for $3,260,000. At close, the 124-unit property was approximately 50% vacant and required an extensive renovation of the common areas and the unit interiors. Upon completion of the renovations, estimated to cost $650,000, Trion will commence an aggressive leasing program to increase the occupancy to 90%-plus and ultimately stabilize the asset. Trion will then list the property for sale with the procuring broker, Kitty Wallace with Colliers International. The company’s acquisition in Sacramento consisted of four notes backed by 224-units with an unpaid principal balance of approximately $7,000,000 or $32,000 per unit. It was acquired directly from a national lender. The four properties are located in the Arden-Arcade submarket of Sacramento. Trion Properties also successfully concluded a seven-month investment with the sale of a 16-unit townhome property at 2280 South Drive in Auburn, which is also in the Sacramento submarket. The company acquired the asset in December 2011 for $1,350,000 through the purchase of the nonperforming bifurcated construction loan and subsequent deed in lieu. Tony Azzi and Rabbie Banafsheha from Marcus & Millichap represented both the buyer and the seller in the transaction. The property was 80% occupied when title was acquired and required minimal renovations. The units were originally built as condominiums and consist entirely of three-bed/three-bath townhomes with an average size of 1,350 square feet. The property was sold for $2,400,000 after a total hold period of seven months, creating a return to the investors of $662,000 and yielding a triple-digit internal rate of return.

OAKLAND, CA-A private investor has acquired the Diamond Terrace Condominiums apartment complex for $6,300,000 from an unnamed seller. The complex consists of 30 condo-quality apartments ranging from one to three bedrooms and ground-floor retail space. The roughly 31,000-square-foot building was completed this year. The seller had purchased the broken condo complex at a discount and completed the construction. Baniqued Commercial Real Estate’s broker associate Davide Pio represented the buyer.

MONTEBELLO, CA-Los Angeles-based Camden Holdings has sold a single-tenant retail property here occupied by Chevron to Fullerton, CA-based Sunset Enterprises Trust for $1,822,000. The sale breaks a record for the highest price per square foot of $3,550 for a service station in California over the past five years, according to industry research. Jeff Conover, senior managing director with Faris Lee Investments, represented the seller in the all-cash, 1031 exchange transaction, while Marcus & Millichap represented the buyer. Built in 2002, the 533-square-foot property is situated on 11,439 square feet of land and is located at 500 N. Garfield Ave. There are 19 years remaining on Chevron’s 20-year NNN lease.

DEVELOPMENT

LOS ANGELES-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that AMCAL Multi-Housing, one of California’s leading builders of workforce and affordable housing, is developing two new apartment complexes here stemming from the recent funding from California Tax Credit Allocation Committee. TCAC funding will be used to finance the Argyle Apartments, a 40-unit development in Hollywood, and the Terracina Apartments, a 72-unit development in South L.A. Construction on both is set to begin this fall. The Terracina Apartments will provide 72 needed affordable, multifamily units within the jurisdiction of the Housing Authority of the County of Los Angeles. The Argyle Apartments will provide 40 apartment units, providing high-quality affordable housing with modern amenities and on-site services. Both developments will be LEED Silver certified and exceed Title 24 energy standards by 17.5%. The projects will be subject to a minimum low-income use period of 55 years.

DEL REY OAKS, CA-According to industry reports, the city and an established San Jose development company are in negotiations with Brandenburg Properties to move dirt on the city’s 360 acres of undeveloped Fort Ord land. The City Council has unanimously approved trying to work out an exclusive negotiating agreement with the family-owned Brandenburg—the only firm that responded to the city’s RFQ in attempt to expand the city and its financial base. The Fort Ord land was given to the city during the 1990s by the Army for civilian uses, but a proposal in 2003 for a golf-course resort, five-star hotel, spas and conference center didn't get off the ground. If the city and Brandenburg work out an exclusive development agreement, the next steps would include a formal development deal and a precise project plan. Plans could include a combination of residential, commercial and retail uses, with a preference by the mayor for low-density residential development and a hotel with condominium units, as well as sustainable development. The Del Rey Oaks land lies north of South Boundary Road and east of Gen. Jim Moore Blvd. Part of it lies next to Fort Ord acreage the city of Monterey has planned for eventual development. Earlier this month, Monterey issued its own request for developers interested in its Fort Ord land.

LEASES

FONTANA, CA-DCT Industrial Trust Inc. has signed a long-term 652,000-square-foot pre-lease agreement with Distribution Alternatives, Inc., a leading third-party logistics provider, for its development project Slover Logistics Center. The company will commence construction of the center in the fourth quarter of this year and expects the project to be complete in the third quarter of 2013. In the lease deal, DCT Industrial was represented by Michael Chavez of Lee & Associates-Ontario, and the tenant was represented by Rob Davidson of the Davidson Companies-Minnesota. Also, those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Chavez and John Cerchiai of the Lee & Associates’ Phoenix office represented System Services of America Inc., a part of the Service Group of America Family of Companies, in a $9.08-million, 198,985-square-foot industrial lease with landlord Metropolitan Life Insurance. SSA will relocate from Los Alamitos to 13204-13250 Philadelphia Ave. here. The agreement represents approximately 52% of the building that was built in 2000. Other tenants in the area include Anheuser-Busch, Nestle, and Home Depot. In addition, the tenant will be ground-leasing the adjacent 4.5 acres for future trailer storage.

SAN JOSE, CA- The County of Santa Clara’s Department of Child Support Services has signed an 83,841-square-foot, 10-year lease at 880 Ridder Park Dr. here with Hines Interests LP Property Management Group. Douglas Sharpe, SVP and managing director of NAI Northern California, San Jose office, represented the tenant in the deal, which was officially approved by the County Board of Supervisors on August 7. The approval came just in time for the full scope of tenant improvements to be made to the property for the scheduled November 1 move-in. The Department of Child Services is currently located in a 152,000-square-foot building at 2851 Junction Dr. here.

SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that New Relic, a provider of web-application performance-management services has relocated from 14,625 square feet at 101 Second St. to 55,000 square feet at 188 Spear St. in the South Financial District here. Peter Hamann of Cresa’s Bay Area offices represented the tenant, which is relocating its headquarters to accommodate its accelerating growth. New Relic, a private company valued at about $400 million, serves more than 25,000 organizations and has almost tripled its employees in the past year. It will occupy the top three floors of the newly renovated building. Shorenstein Properties, which represented itself in the transaction, recently added four new floors to the now 12-story, 220,000-square-foot office building, which offer sweeping bay views. Cresa’s project-management team, led by Robin Weckesser and Justin Chan, will oversee the extensive build-out before the tenant’s official move-in, slated for early next year.

PLAYA VISTA, CA-The Ratkovich Co. has signed 72andSunny, a full-service design and advertising company that works with major brands such as Activision/Blizzard, Anheuser-Busch, Carl's Jr./Hardee's, K-Swiss, and Samsung, as its newest tenant to the Hercules Campus at Playa Vista. Purchased by the Ratkovich Co./Penwood Real Estate Investment Management partnership in October 2010, the Hercules Campus is formerly known as the Hughes Aircraft Company Headquarters and is composed of 11 buildings including the hangar where Howard Hughes’ legendary “Spruce Goose” was built. All 11 buildings are eligible historic landmarks. 72andSunny will be relocating its US headquarters into its new home from Culver City. Jeff Pion, Michele Esquivel-Hart and Deron White with CBRErepresented the landlord, and John Bertram of Studley and Craig Newlands of Coldwell Banker Westmac represented the tenant.

LOS ANGELES-USC has signed a new, 19,115-square-foot, 72-month lease within the L.A. World Trade Center at 350 South Figueroa St. with Jamison Services. Chris Runyen with Charles Dunn Co. represented the landlord, and Howard Feuerstein, Dennis Smith and Cory Campbell of Travers Realty represented USC. The space will be used for Ednovate, a new charter high school that opens this month. According to Runyen, “The tenant was able to take advantage of existing classrooms with the necessary zoning to meet their charter school requirements. The space was initially built for UCLA Extension in the 1990s before the classrooms were occupied by Green Dot Schools from 2005 to 2010.” The 10-story L.A. World Trade Center totals 375,000 square feet and is over 80% occupied with other tenants including GSA and the County of Los Angeles.

FINANCING

IRVINE, CA-Locally based Johnson Capital has arranged approximately $20,100,000 in financing secured by two assisted-living facilities located in Naples, FL, and Mechanicsburg, PA. The properties, which are owned by different investment groups, contain a total of 184 units. In Mechanicsburg, PA, Michael Brundage, SVP, arranged a loan of approximately $16,800,000, insured through the HUD 232 LEAN Program, for the Bridges at Bent Creek. The facility, built in 2001, contains 105 units in 84,000 square feet and is composed of both assisted-living and memory-care units. Also, managing director Brett Patrick has arranged refinancing for a secured assisted-living community in Naples, FL, purposely built for individuals with Alzheimer’s disease and related dementias. The community contains 79 units for residents in 48,000 square feet and was built in 1968, with a major renovation in 1996. The new loan was processed through the HUD Section 223(a)(7) for a 232 program, which allows owners of properties with current HUD mortgages to perform a streamlined refinance to take advantage of current market interest rates. The 223(a)(7) program does not typically require additional third-party reports and can present a significant savings by simply adjusting interest rates to current market levels.

CARLSBAD, CA-HFF has arranged a $10.2-million financing for a 75,160-square-foot, class-A office building at 5791 Van Allen Way, approximately two miles north of McClellan-Palomar Airport here, on behalf of Mararisk Carlsbad LLC. HFF secured the 10-year, 3.66% fixed-rate loan through one of its life company relationships. Built in 1999, the property is 100% occupied on a triple-net-lease basis to Life Technologies. The team representing the borrower was led by managing director David Bleiweiss and director John Chun.

SACRAMENTO-Thorofare Capital Inc. has funded the acquisition of a $6,965,000 non-performing loan portfolio consisting of four independent senior-secured first-lien mortgage loans, which encumber a total of 224 apartment units here. Thorofare provided 65% of the total acquisition cost, including fees and closing costs. The sponsor is an unnamed Los Angeles-based privately held commercial real estate investment firm. Thorofare will also provide an earn-out facility, which will include a capital-improvement budget once the sponsor acquires fee-simple ownership in the portfolio, allowing for the sponsor to maximize upside prior to a refinance or disposition.

ALISO VIEJO, CA-Mark One Capital, a subsidiary of Marcus & Millichap Capital Corp., has arranged $7.1 million in refinancing for a 13,386-square-foot Walgreens drugstore built in 2009. Farhan Kabani, a director in MMCC’s Dallas office, arranged the loan, which was structured with a 10- year term and amortizes over 30 years with an interest rate of 4.5%. The LTV was 75%.

EXECUTIVE MOVES

IRVINE, CA-RealtyTrac has appointed president and COO Jamie Moyle to the role of CEO. Moyle was most recently at Homefacts, which as GlobeSt.com previously reported, was acquired by RealtyTrac in April 2012, and previously at the prominent online vacation rental sales retailer SkiWest, which he sold to Overstock.com in 2005. RealtyTrac’s previous CEO, Brandon Moore, who joined the firm as CEO in 2011 with the goal of establishing a solid foundation for future expansion, will serve as a consultant to the board, targeting his expertise toward intensive testing initiatives and site optimization. Moyle will continue focusing on the day-to-day management of the company’s product-development and consumer-facing teams, while guiding the company’s expansion.

SEATTLE-Marcus & Millichap Real Estate Investment Services has promoted Robert Sheppard to EVP investments, the highest level a Marcus & Millichap investment professional can attain, according to John J. Kerin, president and CEO. Previously, Sheppard was a SVP investments. He will continue in his role as executive director of the firm's tax credit group. Sheppard joined the firm in December 1993 and was promoted to SVP investments in January 2008.

BEND, OR-Compass Commercial Real Estate Services has rehired Krista Polvi as property manager on its asset and property-management team. Polvi recently returned to Bend after a year-long sojourn and residency in Hawaii. She originally joined the firm’s property-management division in June 2010 as part of the company's merger with Equity Growth Management. Polvi has lived in Bend and worked in the real estate industry since 2005, primarily in property and asset management.

SAN JOSE-James Gaglione joins Kidder Mathews’ local brokerage division as an AVP, where he will focus on leasing and sales of commercial retail properties throughout Northern California. Gaglione, formerly of Terranomics Retail Services, has been in the commercial real estate industry for more than 10 years.