Lake City Apartments

Real estate briefly: Buchanan Street buys multifamily unit in Salt Lake City for $31.7 million

Buchanan Street Partners in Newport Beach has acquired a 160-unit multifamily property in the Salt Lake City community of Cottonwood Heights from RK Properties for $31.75 million. Buchanan Street plans to upgrade the unit interiors, building exteriors, and common areas followed by a rebranding campaign to reposition the project in the market. On-site amenities include a swimming pool and spa, clubhouse and fitness center.

BKM Capital Partners in Newport Beach has acquired Expo Centre, a 122,253 square-foot multitenant industrial business park near in downtown Sacramento for $10 million. The center is 81 percent leased, according to the firm. BKM will implement capital improvements to reposition the property. The firm acquired the property from a private syndication managed by Sperry Equities. Palmer Capital represented the seller in the transaction.

The Yorba Linda Church of Christ has sold its 18,000-square-feet special-use building at 4382 Eureka Avenue in Yorba Linda for $4.9 million to a private buyer. Allen C. Buchanan and Joshua Harper of Lee & Associates in Orange and Thomas Smith of NAI represented the seller. John Vardo of Keller Williams represented the buyer. The building sits on 3.88 acres of land and includes an auditorium, two kitchens, library, nursery, offices, classrooms, workshops, and large special events hall.

CBRE has closed the sale of a 20-unit apartment complex for $4.25 million in Anaheim. Dan Blackwell of CBRE represented the seller, a local investor, in the deal. The buyer, a private investor, was represented by The Mogharebi Group. The two-story building at 1521 East Canfield Lane was built in 1969 and includes 20 units and 15,058 square feet.

Newmark Knight Frank has completed a 10-year lease with Chuze Fitness in Anaheim on behalf of the owner. The lease price was not disclosed. Chuze, at 121 N. Beach Blvd., is underway on its interior build-out and plans to open its door later this month. NKF Senior Managing Director Mark Baziak and Associate Geoff Foley represented the landlord, Auburndale Properties. Chad Iafrate of Cushman & Wakefield represented the tenant. Chuze will be located next to Walmart as part of a two-tenant, 120,000-square-foot building. The space is in a former Food for Less.

Irvine-based SetSchedule, a real estate software company that connects real estate agents with homeowners, has launched a mobile app. The predictive learning interface is available on the SetSchedule desktop platform. Agents can download it to iOS and Android devices.

People in real estate

Derek Landry has joined JLL Capital Markets in Irvine as an executive vice president. As a senior member of JLL’s Capital Markets platform, he will be focused on office investment sales in Southern California. Landry brings over 20 years of commercial real estate experience primarily as a principal, with roles in portfolio and asset management, acquisitions, capital raising, finance and dispositions.

Roy Fussell has returned to Coldwell Banker Residential Brokerage as an affiliate agent in its Mission Viejo office. He has more than 27 years of real estate experience. Previously Fussell was an agent with Realty One Group for two years.

Jeff Lazerson’s weekly radio show is on hiatus this week.

The contributing columnist for the Orange County Register and the Southern California News Group hosts the weekly “Mortgage Grader” radio show on KLAA 830AM, otherwise known as the Angels radio station.

In the hour-long show, Lazerson interviews real estate experts and discuss financing options for house hunters, investors and more.

The show runs from 10-11 a.m. on Sundays.

If you have a question for Lazerson’s radio show, keep this dial-in number handy: 714-283-0830.

The California Real Estate Inspection Association (CREIA) will host its 42nd annual conference April 25-29 at the Westin South Coast Plaza. The conference will feature, among other things, a presentation on California’s new pool safety barrier law, which went into effect Jan. 1. The law requires new or remodeled pools and spas to have two of seven child protective safety barriers. For more information on the conference, go to creia.org/2018-annual-conference.

The real estate briefs are compiled by contributing writer Karen Levin and edited by Business Editor Samantha Gowen. Submit items to sgowen@scng.com. High-resolution images also can be submitted. Allow at least one week for publication. Items are edited for length and clarity.

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