July 28, 2010
OAKDALE MULTIFAMILY PROPERTY SELLS FOR $2.65 MILLION
OAKDALE, CALIF. — Carlsbad, Calif.-based Chelsea Investment Corp. has acquired Oak Ridge, a multifamily property located at 10 Willowwood Dr. in Oakdale. The 41-unit apartment community sold for $2.65 million. The seller was Oakdale Company, a California General Partnership of Sacramento, Calif. Steven Nelson and Al Inouye of Hendricks & Partners' Sacramento office brokered the transaction.
THREE-PROPERTY RETAIL PORTFOLIO TRADES FOR $29.14 MILLION
SAN DIEGO — San Diego-based Westcore Properties has completed the disposition of retail movie theatre properties to Knoxville, Tenn.-based Regal Entertainment Group for $29.14 million. The assets include UA Berkeley, a seven-stadium, 21,895-square-foot movie theatre located at 227 Hattuck Ave. in Berkeley, Calif.; UA Haggerty, a 14-stadium, 57,822-square-foot movie theatre at 3033 Springvale Drive in Walled Lake, Mich.; and Snowden Square, a 14-stadium, 58,250-square-foot theatre located at 9161 Commerce Centre in Columbia, Md. Westcore Properties originally acquired the properties in 2003.
17-UNIT MULTIFAMILY PROPERTY FETCHES $1.7 MILLION IN PORTLAND
PORTLAND, ORE. — San Francisco-based Playa Properties has purchased a 17-unit multifamily community in Portland. Located at 600-610 SE Cesar Chavez Blvd., the property sold for $1.7 million with a cap rate of 6.75 percent. The property was constructed in 1943. The seller was Paradise 39 Grape. Grayson Pounder of Hendricks & Partners' Portland office negotiated the transaction on behalf of the buyer.