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| LA Fitness Riverside, 3437 Arlington Avenue, Riverside, CA |
LOS ANGELES, CA – HFF announced today that it has closed the
sale of LA Fitness Riverside, a newly-expanded, 49,661-square-foot
fitness center in Riverside, California.
 |
| Bryan Ley |
HFF marketed the site on behalf of the seller, Westminster
Arlington LLC, wholly-owned by Westminster Fund V LP. The property was purchased for $13.88 million by Cole Credit
Property Trust IV, Inc.
The
asset is located at 3437 Arlington Avenue with prominent frontage along
Highway 91 adjacent to Tava Center, a multi-tenant retail property. Completed in 2010 and expanded in 2013, the
property is adjacent to an available, undeveloped retail pad that is entitled
for up to 15,000 square feet.
The
HFF team representing the seller was led by managing director Bryan Ley
and director John Crump.
 |
| John Crump |
The
Westminster Funds are real estate investment partnerships for private investors
and their foundations. Founded in 1996,
The Westminster Funds currently comprise eight commercial income-property
investment funds and two CCRC funds for development and operation of CCRCs.
The 10 funds total
more than $600 million of equity capitalization and own about $1 billion of
property assets throughout the United States.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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