OC Creative Fetches $27M For Red Hill

IRVINE, CA—Red Hill Covenant Group LLC has sold a newly renovated, 118,086-square-foot, creative-office property at 17000-17040 Red Hill Ave. here for $26.5 million to an unnamed buyer. Scott Read, executive managing director in NGKF‘s Newport Beach office, and Michael Kane, executive managing director in the firm’s Los Angeles office, represented the seller in the transaction.

BOULDER, CO—Mike Dube, VP in HREC Investment Advisors‘ Denver office, represented seller Lewis Properties in the sale of the 49-guestroom Quality Inn & Suites here to a partnership between Basecamp Hotels, an independent boutique hotel company based in California, Eagle Point Hotel Partners and Filament Hospitality for an unnamed price. The partnership will renovate and reposition the property to its signature brand, Basecamp Hotel, which embodies the “spirit of a traditional base camp with a modern, eco-chic touch.” The acquisition begins the brand’s expansion strategy into other markets across the U.S.