Deals
* CT Realty Corp. of Newport Beach acquired three apartment complexes in San Dimas from Newport Beach-based Pacific Gulf Properties for $24 million. The properties include the 102-unit Villas at Bonita at 433-477 E. Bonita Ave., the 156-unit Villas at San Dimas Canyon at 325 S. San Dimas Canyon Road, and the 30-unit Villas at 940 N. San Dimas Ave. CT Realty’s Ray Polverini said the company will spend more than $3 million to renovate and modernize the properties. CT Realty was represented in-house by Dan Naddor. The seller was represented by Sean Deasy of CB Richard Ellis.
* Seattle-based Washington Mutual Bank signed a 10-year, $10.4-million lease for 47,088 square feet of “flex” office space at 17861 Von Karman Ave. in Airport Corporate Center in Irvine to expand its regional headquarters. Gary Allen and Dave Kinney of Grubb & Ellis represented the landlord, Met-Rx USA of Boca Raton, Fla. John Arlotti of Arlotti & Associates represented the tenant.
* Signal Hill LLC, a Torrance-based private investment group, purchased the 108,863-square-foot Town Center Office Park at 2501-2525 Cherry Ave. in Signal Hill for $9.6 million from Winship Properties of San Francisco. Kevin Shannon of Grubb & Ellis and Bob Alperin and Robert Geary of Matlow-Kennedy represented the buyer and the seller.
* DTS Properties, a Beverly Hills-based investment group, bought the 59-unit Cloverdale Court Apartments at 340 S. Cloverdale Ave. in Los Angeles for $8 million from Cloverdale Properties Ltd. Alex Nicol III of Beitler Commercial Realty Services represented the buyer and the seller.
* Telmar Network Technology signed a 10-year, $7.7-million lease for 70,722 square feet of industrial and office space at 15776 Laguna Canyon Road in Irvine. F. Ronald Rader of Klabin Co. and John Griffin of Voit Commercial Real Estate represented the tenant. The landlord, Irvine Co., represented itself.
* Garden Grove Housing Corp. of Newport Beach bought the 80-unit Olive Tree Apartments at 13902-13940 Taft St. in Garden Grove for $7.3 million from Olive Tree Apartments of Irvine. Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate Group and Gary Tolfa of Investment Property Group represented the buyer and the seller.
