Newmark Arranges $30M Construction Take-Out Financing for Santa Cruz MF

San Francisco-based Newmark Realty Capital Inc. arranged $29.9 million in financing for Five55 Pacific, a newly- developed, Class A mixed-use property in Santa Cruz, CA. Completed earlier this year by Swenson Builders, the beach-side apartment community offers 94 luxury apartments over four ground-floor commercial spaces. Newmark’s Jeff Wilcox, Robert Slatt and Charlie Kokernak structured the

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Shane Shafer Joins NorthMarq from Berkadia

NorthMarq Capital added multifamily investment sales specialist Shane Shafer as managing director in its Los Angeles regional office. He will be based in Newport Beach, CA, and will continue the expansion of NorthMarq Multifamily’s investment sales business. Shafer brings more than 20 years of experience in investment sales, most recently working in Berkadia’s Irvine, CA

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Brixmor Sells Clovis, CA Retail Center for $45M

Clovis Commons Shopping Center, a 326,608-square-foot community shopping center in Clovis, CA, has traded hands for $45 million. New York-based Brixmor Property Group divested the property to an unnamed affiliate of a SoCal-based privately-held investment and management company. Anchored by Target, Best Buy, T.J. Maxx, PetSmart, Office Depot and Dollar Tree, the center’s five major

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Del Frisco’s Makes West Coast Debut on San Diego’s Waterfront

Nationally-revered Del Frisco’s Double Eagle Steakhouse opened the doors on a 16,655-square-foot restaurant in San Diego. The two-story, indoor-outdoor luxury steakhouse sits at the intersection of Broadway and Pacific Highway, anchoring the new InterContinental San Diego. The restaurant serves as a cornerstone of the BRIC mixed-use development, and overlooks Lane Field, the waterfront park that

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Mogharebi Group Sells Pomona Apartment Property

Twin Palms Apartments an 83-unit multifamily community in Pomona, CA, has traded hands for $10.4 million. The buyer was an unnamed private Manhattan Beach, CA-based investment group. Built in 1964, Twin Palms is a two story apartment asset comprising two residential buildings totaling 30,860 rentable square feet and situated on a 1.41-acre site. The property

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