IRVINE, CA—Integrity Housing has hired Michael Tayefeh as senior acquisitions analyst to its team and will serve a critical role of identifying, developing and sustaining affordable housing for low-income seniors and families. Tayefeh brings five years of experience in multifamily LIHTC and a strong desire to grow his career in the development arena. He graduated from California State University, Fullerton in 2008 with a BA in Business Finance, and began his career in syndication at WNC & Associates, followed by Credit Capital LLC. Most recently, he gained experience from a homebuilding perspective at K. Hovnanian Homes. At Integrity Housing, he will be involved in property acquisitions and finance, including sourcing, underwriting, negotiations, purchase agreements, due diligence, closing, and development.

ORANGE, CA—Granite Properties has hired Jason Purvis as Senior Managing Director of Southern California. He will replace Tom Miller, who will retire as Senior Managing Director of Southern California. Purvis will lead the growing presence of Granite in Southern California and will be responsible for Granite's acquisitions, leasing, development and market positioning. Purvis will report to Scott Martin, Executive Managing Director at Granite. Prior to joining Granite, Purvis was a Regional Vice President at the Irvine Company where he was responsible for acquisition, development and reinvestment efforts on projects valued at more than $2.9 billion through California and Chicago. During his 15-year career in real estate, Purvis has held roles in finance, investment management and asset management.

DEALTRACKER

EL SEGUNDO, CA—Redondo Beach Business Court has traded hands between Gramercy Property Trust and Miramar Capital for $36.7 million. The 124,400-square-foot office building and separate day care facility is located at 3701 Doolittle Drive in Redondo Beach in the Redondo Beach Business Court and adjacent to Northrop Grumman's Space Park campus. The property had less than two years remaining on the lease term for its tenant Northrop Grumman. NKF Capital Markets President, West Coast Kevin Shannon, Executive Managing Director Ken White and Managing Director Michael Moore along with Senior Managing Directors Eric Adams, Chris Strickfaden and Eric Lastition represented the seller in the transaction.

TUCSON, AZ—The Ledges at West Campus, a 205-unit apartment property in Tucson, Arizona, has traded hands for $23 million sales price, or $112,195 per unit, between Aspen Square Management and a private investor. Hamid Panahi, Steve Gebing, senior managing director, and Cliff David, senior managing director, represented the seller and procured the buyer. The property is located near the large student populations centered around Pima Community College's West and Downtown campuses and the University of Arizona. Interstate 10 is 1.5 miles away and a Tucson Sun Link streetcar station is within 2.5 miles. The West University neighborhood is three miles east of the community.

NEWPORT BEACH, CA—Stillwater Investment Group and CrossHarbor Capital Partners LLC has secured $34 million in financing for Element, a class-A office campus totaling 165,028 square feet in Aliso Viejo, California. HFF worked on behalf of the borrower to secure the loan through Amherst Capital Management LLC. Loan proceeds will be utilized to renovate and lease the property. Formerly the QLogic Campus, the property comprises three two-story buildings located at 26600, 26650 and 26700 Aliso Viejo Parkway in the South Orange County submarket. The HFF debt placement team representing the borrower included senior director Greg Brown and analysts Lauren LaFever and Christian Tober.

SAN DIEGO—The 150-room Hyatt Place hotel at 2645 South Melrose Drive in Vista, California has traded hands for an undisclosed price between CoreCapital and Brighton Management. The four-story hotel that opened in 2012 offers approximately 1,200 square feet of meeting space, and provides food and beverage service through its 24/7 Guest Kitchen, Gallery Market and Bakery Café. Rod Apodaca and Bob Kaplan of CBRE Hotels acted as exclusive agents for the sellers. Located against rolling hills and just minutes from the Pacific coast, the property is conveniently located near McClellan-Palomar Airport, LEGOLAND and is surrounded by more than 33 million square feet of office and industrial space throughout Vista, Carlsbad and the San Marcos market area.

IRVINE, CA—Advanced Real Estate Services has purchased a 193-unit apartment building near Anaheim Hills. With this purchase, ARES has 1,260 units in Anaheim in 9 properties consisting of nearly 15% of their portfolio. ARES Plans to renovate and re-brand the property as The Jackson Apartments. Renovation plans involve upgrades to the leasing office and common areas including new pool cabanas, bbqs, dog park, signage & landscape. Interior renovations include the addition of washer and dryers in many of the units as well as upgraded flooring, fixtures, and the addition of quartz countertops. Sean Deasy and Ryan Fitzpatrick from the Newport Beach office of HFF advised the seller in the transaction. The purchase price was approximately $54 million and ARES procured a new, approximately $35 million loan through Kevin MacKenzie and Lee Redmond, also from HFF.

PHOENIX—Mission Springs, a 306-unit apartment community located at 1311 W. Baseline Road in Tempe, has traded hands for $33.8 million between Gelt Baseline Holdings and 29th Street Management II, LLC. Executive Managing Director Jim Crews from the Cushman & Wakefield Phoenix office represented the seller. Built in 1987, Mission Springs offers one- and two-bedrooms with four expansive floor plans. Each unit includes a kitchen equipped with modern appliances, hardwood flooring, views, in-home washer and dryer, oversized closets, private balcony or patio and vaulted ceilings. The community offers residents a swimming pool with a sun deck and spa, picnic area with barbecues, business center with WiFi and covered parking.

NEWPORT BEACH, CA—A Rite Aid in Long Beach has traded hands for $13.5 million, an a 5% cap rate. This is the second highest price point on record for a Rite Aid sale in the U.S., with the highest rent and NOI. The property completed construction earlier this month and was under a long-term lease with Rite Aid. Matthew Mousavi and Patrick Luther, both managing principals of SRS' National Net Lease Group, along with Garrett Colburn, executive vice president, Townsand Cropsey, vice president in the Newport Beach office, represented both the buyer and seller in this transaction.

SAN DIEGO—MG Properties Group has acquired Waterleaf Apartments in Vista, CA. Waterleaf is a 456-unit apartment community built in 1985. The property features access to north-county San Diego employers and retail via Highways 76 and 78, and Interstates 15 and 5. Waterleaf is a low-density garden style property with an attractive unit mix and full-size washers and dryers in every unit. A resort-style community amenity package includes two separate clubhouses, two fitness centers, a business center, two pools and spas, two sports courts, and playgrounds. MG Properties Group plans to continue the interior renovation program in progress and enhance common area amenities. Ed Rosen, and John Chu of Berkadia represented the sellers, and the acquisition was financed with a $76.4M Fannie Mae Loan arranged by Brian Eisendrath of CBRE.

RANCHO SANTA MARGARITA—Buena Vida at Town Center, a 115-unit age-restricted multifamily community in Rancho Santa Margarita, California, has traded hands for $31.7 million. Built in 2006 on more than three acres, the property is located directly across the street from Central Park in Rancho Santa Margarita, near the Santa Margarita Parkway and approximately one-half mile from California State Route 241. Marcus & Millichap's Tyler Leeson and Alex Mobin represented the seller, a private investor. Leeson, Mobin and David Yeh, senior associate, procured the buyer. Alexander Garcia Jr. and Christopher Zorbas, senior managing directors with Marcus & Millichap's Institutional Property Advisors (IPA) division also provided representation, along with Tyler Martin, IPA director, and Marcus & Millichap vice president investments Mathew Kipp.

BUILDING BLOCKS

SAN DIEGO—Villa de Vida, an approved 54-unit residential project for adults with developmental disabilities, will break ground at midyear 2018 in Poway. It is targeted for completion as early as winter of 2019. With a majority of special needs adults currently under the care of aging parents, Villa de Vida was founded in response to the growing demand for permanent supportive housing. The Centers for Disease Control and Prevention estimates 1 in 68 children in the U.S. are diagnosed with autism.