California Center is a six-building, 1 million-square-foot office campus in Pleasanton, Calif.

PLEASANTON, CALIF. -- Swift Realty has acquired California Center, a 1 million-square-foot office campus in Pleasanton. The campus was acquired for approximately $155 million, according to the San Francisco Business Times. The six-building property is located at 4400 Rosewood Drive in the Hacienda Business Park. 

California Center features a state-of-the-art conference center, 600-seat cafeteria and fitness center. It also contains an 8.4-acre site that is fully entitled for 305 residential units. 

JLL's Rob Hielscher, Michel Seifer and Aaron Herter brokered the transaction. The seller was RREEF.

"The sale of California Center allowed the seller to take advantage of a very attractive capital markets environment, while Swift Real Estate Partners was able to obtain a Class A office property in a tightening market at a significant discount to replacement cost," says Hielscher. "California Center's premier location and near-term upside potential led to a very competitive bidding process."

Township, an apartment complex in Redwood City, features amenities that include a fitness center, whirlpool spa, business center and outdoor kitchen.

REDWOOD CITY, CALIF. -- Institutional Property Advisors (IPA) has brokered the sale of Township, a 132-unit multifamily complex in the San Francisco suburb of Redwood City, for $83 million. 

Completed earlier this year, the community includes one-, two- and three-bedroom apartments averaging 914 square feet, plus amenities such as a fitness center, whirlpool spa, business center and outdoor kitchen. 

Located at 333 Main St., the property is in proximity to the major thoroughfares of Veteran's Boulevard and U.S. Route 101, as well as major area employers Oracle Corp., Electronic Arts, Shutterfly, Rocket Fuel, Stanford University, Facebook, Sony Computer Entertainment America LLC and Gilead Sciences. 

Stanford Jones, Philip Saglimbeni, Salvatore Saglimbeni of IPA, a division of Marcus & Millichap, represented the seller, a joint venture between Sares Regis Group and J.P. Morgan Asset Management. 

"Apartment operations remain very healthy in Redwood City and throughout San Mateo County," says Jones. "Since reaching a cyclical peak in 2009, vacancy has declined at a healthy clip, decreasing 160 basis points. Redwood City currently demonstrates tremendous market fundamentals with approximately 9 percent year-over-year market rent growth and an average occupancy of 96.1 percent reported as of the fourth quarter of 2013."

D.R. Horton purchased, among other parcels, 178 lots at Mission Estates in Jurupa Valley, outlined in red.

FONTANA, CALIF. -- D.R. Horton has acquired 622 lots in three separate residential developments throughout the Inland Empire for $62 million. The deal contains a total of 246 finished lots, including 178 lots at Mission Estates in Jurupa Valley and 68 lots at Rosena Ranch in the Lytle Creek area of San Bernardino County. It also includes 376 lots that are fully entitled but undeveloped at Bella Strada in Fontana. 

"We acquired these properties several years ago when the land market in the Inland Empire was at a low point," says Steve Cameron, president of Foremost Communities, the seller. "At this point, Foremost has added all the value we can through modified entitlements and cleaned-up development issues. We've seen significant market lift and have sold these properties to achieve our business plan objectives." 

Starwood Capital Group Global acted as Foremost's financial partner on two of the transactions. Foremost has nearly 7,800 lots across Southern California under ownership or management. 

"We have a great portfolio of residential land and we continue to seek further investment opportunities in Southern California to add to our holdings," says Cameron. "As our properties become ready for homebuilders and market conditions continue to improve, we plan to periodically bring additional lots to the market." 

Province West and Land Advisors represented Foremost in the transaction. Tom Dallape and Norm Scheel of The Hoffman Company also assisted on this transaction.

Merchants Exchange Building was one of the only trophy buildings to survive the 1906 earthquake in San Francisco.

SAN FRANCISCO -- NorthMarq Capital has arranged $61 million in financing for the Merchants Exchange Building, a 241,961-square-foot office building in San Francisco. The building is located at 465 California St. 

Merchants Exchange Building was built in 1903. It is one of the only trophy buildings to survive the 1906 earthquake in San Francisco. 

Jeffrey Weidell and Andrew Slaton of NorthMarq Capital's San Francisco regional office arranged the loan. Weidell and Slaton had initially arranged about $47.5 million in financing before advancing an additional $13.5 million. The advance will mature in 11 years, along with the existing debt. 

"For this unique and historically significant asset, we were able to work with one of our correspondent life company lenders to negotiate additional funding on top of the existing loan," says Weidell. "The sponsor, Clint Reilly Cos., is a skilled operator that has invested greatly in maintaining and modernizing the building - and it shows. Moreover, this trophy office building, located in the heart of the San Francisco Financial District, has performed well with rising demand for office space."

Grimm climbs ranks to become COO of Cannery Row Co.

MONTEREY, CALIF. -- William "Bill" Grimm has been promoted to chief operating officer of the Cannery Row Co., a commercial development firm in the Monterey Peninsula area. 

Grimm previously served as executive vice president of real estate leasing and acquisitions. 

He joined the company in 2001 from Gloria Jean's Coffees where he was an officer and the vice president of global development. 

The Cannery Row Co. also operates in northern California.