February 25, 2010
HENDRICKS & PARTNERS HANDLES $15.1 MILLION APTS. SALE NEAR SACRAMENTO
DAVIS, CALIF. — Hendricks & Partners has brokered the $15.1 million sale of 148-unit Stonegate Village, located at 2950 Portage Bay West in Davis. Hendricks & Partners’ Steven Nelson and Al Inouye represented Stonegate Village Apartments, a limited partnership, in its sale of the property to Burlingame, Calif.-based SFC Stonegate Village Investors LLC.
$7.4 MILLION APARTMENT SALE IN HEART OF HOLLYWOOD’S RENAISSANCE
HOLLYWOOD, CALIF. — Madison Partners has arranged the $7.4 million sale of the 53-unit Franklin Pointe Apartments located at 1825 N. Cherokee Ave. in Hollywood. Originally constructed in 1963, the three-story apartment complex comprises eight studio units, 29 one-bedroom/one-bath units, eight one-bedroom/two-bath units and eight two-bedroom/two-bath units. Madison Partners’ Darin Beebower represented both the buyer and the seller in the transaction — Los Angeles-based 1825 Partners LP and Franklin Pointe Associates LLC, respectively.
STAN JOHNSON CO. SELLS EASTERN IDAHO RETAIL PROPERTY
BLACKFOOT, IDAHO — Stan Johnson Co. has completed the $1.725 million sale of a 7,790-square-foot shopping center in Blackfoot. Located on a 0.73-acre pad site at a Walmart Supercenter, the retail property is 100 percent leased to three national tenants and one local. Stan Johnson’s Gill Warner represented the retail developer in its sale of the property to a 1031-exchange private investor.