SEATTLE-A joint venture between Resmark Apartment Living and Intracorp will develop two urban apartment communities totaling 273 units in the northeast region. A seven-story, 161-unit building is planned in the University District at 4545 8^th Ave. Northeast, and a six-story, 112-unit building at 1020 Northeast 63^rd St.. The 8^th Ave. Northeast property is designed for students and young professionals. The Northeast 63^rd Str. building will offer contemporary units ranging in size from 385 to 800 square feet and will also include units leased under affordable-housing guidelines.

SALES

MURRAY, UT-Parley’s Partners has begun construction on Birkhill on Main Apartment Homes, a transit-oriented apartment community at 4255 South Main St., 8 miles south of Salt Lake City. The 6.2-acre, multi-phase $45-million mixed-use development, designed by KTGY Group Inc., will offer 311 luxury apartment homes plus a three-story office building upon build-out.

SACRAMENTO-Bayside Communities has acquired Azure Park Apartments, a 220-unit affordable apartment community here, for a price undisclosed to GlobeSt.com. The property is currently 85% leased and will be significantly renovated and renamed Lotus Landing. The acquisition is the third Sacramento apartment community that Bayside has purchased.

LOS ANGELES-Astani Enterprises has closed escrow on the $7.6-million purchase of a 1.5-acre, 65,000-square-foot parcel on the northwest corner of Wilshire Blvd. and Valencia St. here. Astani plans to build a six-story, 220-unit, mixed-use project with 10,000 square feet of retail fronting Wilshire Blvd. Amenities will include a rooftop pool and deck with panoramic views of Downtown Los Angeles, a fitness center, club lounge, and screening room. The seller is Horacio Carlos Vignali.

LEASES

RIVERSIDE, CA-GE Capital Real Estate has completed a new 52-month, 85,000-square-foot industrial lease in the Meridian Business Park at 14530 Innovation Dr. here with Spectra Premium, an auto-parts distributor. The tenant plans to fully occupy the class-A building for its West Coast distribution operations. Ryan Miller, an associate in Voit Real Estate Services’ Inland Empire office,

represented the lessee in the transaction. The lessor was represented by Walt Chenoweth, Frank Geraci, Juan Gutierrez and Patrick Wood, also of Voit’s Inland Empire office.

CYPRESS, CA-Warland Investments Co. has signed a 85,773-square-foot, long-term industrial lease at Warland Cypress Business Center at 11240 Warland Dr. here with C&D Zodiac Inc. Terms of the lease transaction were not disclosed. Frank Adler and Jeff Hirsch of Lee & Associates Newport Beach represented the lessee, an aerospace products manufacturer. The Klabin Co. represented the lessor. Zodiac’s aircraft division will be expanding into the facility with more than 250 employees.

HAWTHORNE, CA-CHEP Aerospace Solutions, a leading provider of pallet and container pooling services, has leased a 33,217-square-foot facility at 12912 Chadron Ave. here from DSA Properties for relocation and consolidation of its Los Angeles-area headquarters. The tenant will vacate two buildings, one in an unincorporated area of Los Angeles and the other in Hawthorne later this month. Luke Staubitz, a principal in the Los Angeles office of Klabin/CORFAC, and Harvey Beesen, a principal of the same firm, represented both parties. Consideration for the 10-year lease was $2.78 million.

NEWPORT BEACH, CA-Irvine Company Retail Properties has opened a Whole Foods Market at Fashion Island here. The store opening will mark the fifth Whole Foods Market in Orange County, but its first store within a regional shopping center setting and its first within Newport Beach. The 32,000-square-foot store is located at Located on Newport Center Dr.

ALISO VIEJO, CA-RREEF has leased 30,813 square feet of office space on the third floor of Summit Office Campus here to Pacific World Corp. Previously located in Lake Forest, the tenant is relocating its corporate headquarters. Colby Annett and Blaine Annett, co-managing partners of Stream Realty Partners, represented RREEF in the transaction. Robert Chavez, president and CEO of Guardian Commercial Realty, represented the tenant.

SANTA MONICA, CA-Pinkberry Inc. is relocating its corporate headquarters from West Hollywood, CA, to 3130 Wilshire Blvd. here in November. The yogurt retailer inked a seven-year, 15,314-square-foot lease for the office space and plans to renovate the entire fourth floor to develop a more creative atmosphere for its corporate team. Steven Kolsky of Newmark Grubb Knight Frank, along with Michael Arnold and Greg Frankovich, represented the tenant in the deal. Jeff Resnick, Joel Frank and Derek Scott of First Property Realty Corp. represented the landlord, Kilroy Realty Corp.

FINANCING

CAMERON PARK, CA- KBS Strategic Opportunity REIT Inc. has originated a $35,750,000 first-mortgage loan secured by Ponte Palmero, a 239-unit continuing-care retirement community here. The borrower of the loan is not affiliated with the REIT or its affiliates. The loan bears interest at a floating rate with an initial rate of no less than 11 percent, increasing annually to a floating rate of no less than 18% during the third year of its term and will mature Oct. 1, 2015.

TORRANCE, CA-HFF has arranged a $27.6-million refinancing for Torrance Promenade, a 269,000-square-foot retail power center here. HFF worked exclusively on behalf of the borrower, KIR Torrance, L.P., to secure the 10-year, fixed-rate loan through a life insurance company. Torrance Promenade is located at 19800-20100 Hawthorne Blvd. and is 99% leased.

LOS ANGELES-Quantum Capital Partners has secured a 3.9%, 10-year fixed loan for the Emil Brown building, a mixed-use project located in downtown Los Angeles. Freddie Mac funded the $10.5M non-recourse loan. Nazco Equities LLC purchased the five-story, historic building in 2001 and began a $6 million renovation in 2008. The 18-month renovation converted the building from a clothing-manufacturing facility to 39 live-work lofts, with 13,100 square feet of ground-floor retail space that currently includes a Starbucks and a Subway.

EXECUTIVE MOVES

DENVER-Thomas H. Wootten has been named an executive managing director of Newmark Grubb Knight Frank Global Corporate Services. Wootten, who is based in the company’s Denver office, represents national and international clients, specializing in corporate dispositions, asset monetization, and financial optimization of complex real estate assets. Wootten has worked across the US and throughout the world on all types of real estate, representing corporate ownership as well as investors. He served as in-house director of real estate with responsibility for the full regional real estate portfolio of ATT Broadband/MediaOne and also managed the global portfolio of StorageTek.