SAN RAMON, CA-Investment group 3160 Crow Canyon LLC has purchased a two-building office and retail development site located at 3150 and 3160 Crow Canyon Rd. here from private real estate investment firm Gavello Properties for $12.8 million. Chili's restaurant occupies 3150 Crow Canyon Rd., the 5,700-square-foot retail property, while the 76,700-square-foot 3160 Crow Canyon Rd. office building is fully occupied by tenants including anchors CMG Financial and IntegraMed America. Cornish & Carey Commercial Newmark Knight Frank's team including Rick Steffens, Mike Zylstra, Forrest Gherlone, Knute Bucklew and Sean Cooley represented the seller in the transaction, while Kevin Herman of Herman Commercial represented 3160 CC LLC. Elizabeth Crandall of Sonoma Bank's Walnut Creek branch secured the approximately $9-million conventional loan.

WILMINGTON, CA-Preservation Partners and Clifford Beers Housing have purchased a 90-unit affordable-housing complex for seniors, located at 1100 N. Banning Blvd. here, from seller VPP Banning Villas Apartments for $10.5 million. Tim Steuernol with NAI Capital's West L.A. office represented the buyers, while the seller was represented by Kanna and Ramu Sunkara of Sunkara Investments Inc.

OAKLAND, CA-Kingston Avenue Partners LLC has purchased a 45-unit apartment complex located at 775, 777 and 779 Kingston Ave. here from a private family ownership for approximately $5.9 million, which equates to roughly $131,000 per unit and a capitalization rate of roughly 5.75%. Bay Apartment Advisors' Kristopher Lamont brokered the sale of the property, which lies on three contiguous parcels with nearly identical 15-unit buildings on each parcel. Christopher Curtis and Joel Kelly represented the buyers, while Richard Thompson of CBRE represented the sellers. The purchase included a loan from Chase Bank of 71% LTV with fixed-rate financing and signifies the third large purchase for the partnership since 2011.

DEVELOPMENT

BAKERSFIELD, CA-Standard Pacific Homes has opened Standard Pacific Homes at West Village, a collection of one- and two-story single-family homes in southwest Bakersfield. West Village offers four distinctive floor plans and exterior styles influenced by Spanish and European Country architecture. Ranging from 1,794 to 2,626 square-feet, the homes contain up to four bedrooms plus a den and three bathrooms. Prices start in the low $200,000s.

FINANCING

GILBERT, AZ-Gardiner Champlin and Marty Meagher, SVPs and managing directors of NorthMarq's San Diego regional office, have arranged first-mortgage acquisition financing of $10.1 million on behalf of borrower the Reserve at Gilbert Towne Centre LLC, through its seller-servicer relationship with Freddie Mac, for Legacy Village, a 120-unit market-rate two- and three-story garden-apartment complex here. Financing was based on a 10-year term with two years interest-only followed by a 30-year amortization schedule thereafter.

EXECUTIVE MOVES

LOS ANGELES-Newmark Grubb Knight Frank has hired four senior tenant representation brokers to its Downtown Los Angeles office. David Kluth and Josef Farrar join as executive managing directors, Ryan Harding as a senior managing director and Aliya Coher as a managing director. Farrar and Kluth previously served as EVPs and managing directors at DTZ, a UGL Co. Hardingpreviously served as a SVP with DTZ, while Coher previously served as an AVP with DTZ and an associate director with Studley. The team has closed some of the largest transactions in Los Angeles and throughout Orange County.

SACRAMENTO-San Diego-based Sunrise Management has added Beth Smith as a new regional property manager in its growing Sacramento office. In her new position, Smith will concentrate on overseeing and increasing the firm's Northern California market share, directing long-term marketing, strategic planning and day-to-day operations. A 22-year veteran of the multifamily industry, Smith was most recently operations manager with Woodside Management Group, where she oversaw the operations of 11 multifamily communities encompassing more than 1,500 units throughout Central and Southern California.

ONTARIO, CA-CBRE has hired Brandon Beauchemin as VP in its Ontario office. Beauchemin specializes in landlord representation for retail brokerage services in the Inland Empire. He has represented landlord and tenants in more than 75 retail centers in his career, has arranged more than 1.6 million square feet of existing neighborhood retail space, and has several ground-up projects planned for 2013 and 2014.

LOS ANGELES-Transwestern has added Michael Soto as research manager for Southern California. Based in the firm's Los Angeles office, Soto will oversee research operations for the region, maintaining statistical data and analytics on commercial real estate markets. In addition to quarterly market and submarket reports, Soto will perform research and analyses on behalf of Transwestern's clients, including demographic, economic, labor force and market trends. Soto previously served as senior market analyst for Colliers International's Business Development Center, providing research due diligence and assistance with pursuit strategy on a national basis.