SALEM, ORE. — Investors Capital Group has completed the disposition of Fruitland Meadow, an apartment property located at 5192 Caplinger Road SE in Salem, to a private buyer for $32 million. Situated on 8.1 acres, Fruitland Meadows offers 168 studio, one-, two- and three-bedroom apartments. Josh McDonald and Joe Nydahl CBRE represented the seller in the transaction.
PORTLAND, ORE. — Ostling Group has completed the $22.3 million sale of Riverside Industrial Park, a two-building industrial park in Portland. Brett Hartzell, Charles Safely and Chris Reeves of CBRE National Partners, along with Eleanor Aschoff of CBRE, represented the seller in the deal. The name of the buyer was not released. Located at 13422-13444 and 13609-13625 N.E. Jarrett St., the two buildings offer a total of 129,142 square feet. The buildings feature 20-foot to 24-foot clear heights, truck access, 28 dock-high doors and 16 grade-level doors. At the time of sale, the asset was 29 percent occupied by eight tenants in logistics, constriction supply, retail and manufacturing/fabrication industries.
GRESHAM, ORE. — USA Properties Fund and Northwest Housing Alternatives have completed Terracina Vista, an affordable housing community in Gresham, approximately 10 miles from downtown Portland. Located at 16503 E. Burnside St., Terracina Vista offers 92 one-, two- and three-bedroom apartments for residents earning less than 60 percent of the area median income. Apartments feature energy-efficient appliances and lighting and low-flow faucets, showers and toilets. Community amenities include a community room, computer workstations, indoor bike storage, elevators and laundry facilities. Funding for Terracina Vista was made possible by a private-public partnership with the City of Gresham, Oregon Housing and Community Services and Oregon Metro as subsidy lenders. WNC & Associates is the tax credit investor on the $43 million development. Capital One was the construction lender, with Citi Community Capital as the permanent lender.
HILLSBORO, ORE. — Trammell Crow Co. (TCC) and joint venture partners Mar-Gulf Management and MDI Capital, the international subsidiaries of Kuwait Financial Centre, have broken ground on VanRose Technology Center, a speculative logistics building in Hillsboro, approximately 20 miles west of Portland. Slated for delivery by July 2026, VanRose Technology Center will offer 303,969 square feet of cross-dock logistics space. Situated on 16 acres at 2625 N.E. Huffman Road, VanRose Technology Center will feature a clear height of 36 feet, 234 automobile stalls, 64 dock doors, four drive-ins and 33 trailer stalls. VanRose Technology Center can be demised to fit up to four tenants. Project partners include Mackenzie Inc. as architect, Perlo Construction as general contractor and Citizens Bank as lender. Macadam Forbes is marketing the property for sale or lease.
EUGENE, ORE. — Senior living brokerage firm The Zett Group has arranged the $18.5 million sale of a community located in Eugene. Built in 1979, the property — Churchill Estates — comprises 241 independent living, assisted living and memory care units. A joint venture acquired the community from the sellers, Ron and Joyce Knutson.
CANBY, ORE. — Trammell Crow Co. (TCC) and Affinius Capital have broken ground on Sequoia Logistics Center, a Class A speculative logistics facility in Canby, approximately 20 miles south of Portland. Slated for completion by January 2027, the 778,720-square-foot Sequoia Logistics Center will feature 4,000 amps of power capacity, 143 loading docks, 224 trailer spaces and 798 auto parking spaces. Project partners include Mackenzie as architect and Perlo Construction as general contractor. Teams from KBC Advisors in Seattle and Kidder Mathews in Portland, Ore., are marketing the project for lease.
MEDFORD, ORE. — Bear Creek Partners I LLC has completed the disposition of Bear Creek Plaza, a shopping center in Medford. Bear Creek CV LLC acquired the asset for $25.2 million. Built in 1977 on nearly 17 acres, Bear Creek Plaza offers 189,670 square feet of retail space. Current tenants include Bi-Mart, Dollar Tree, Crunch Fitness, McDonald’s, Wendy’s, Carl’s Jr., First Interstate Bank, OneMain Financial, Metro PCS, Papa Murphy’s and Sally Beauty Supply. Clayton Brown and Ruthanne Loar of Marcus & Millichap represented the seller and procured the buyer in the deal. David Tabata of Marcus & Millichap served as broker of record in Oregon.
PORTLAND, ORE. — Portland-based multifamily owner-operator Guardian has acquired a portfolio of 15 multifamily properties totaling 3,050 units in Oregon and New Mexico for $497 million. The deal represents the company’s largest transaction and one of the larger deals in the United States year-to-date, according to Guardian. Each property in the portfolio was built after 2000 using Low Income Housing Tax Credits (LIHTC) but after the end of the program’s 15-year compliance period, thus the properties were at risk of market-rate conversion. Guardian will voluntarily convert a portion of the portfolio’s units to income-restricted housing that is reserved for renters earning 60 percent or less of the area median income (AMI). The seller was not released. “This transaction represents a pivotal moment for Guardian as we advance our mission to preserve and expand quality affordable housing,” says Tom Brenneke, president of Guardian. The company purchased the portfolio in two tranches. The first was with capital partner AEW for two Portland-area communities spanning 310 units. The second phase comprised the other 13 properties, which span 2,740 units in the metro areas of Portland and Albuquerque, N.M. Guardian partnered with National Equity Fund (NEF) and JPMorgan Chase on the second tranche. “Partnering …
SANDY, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mount Hood Senior Living, a vacant 44-unit assisted living and memory care community located in Sandy, roughly 30 miles southeast of Portland. Totaling 26,000 square feet, the property was updated in 2022. A local operator acquired the community, which it plans to reopen. Jason Punzel, Vince Viverito, Brad Goodsell, Jake Anderson and Taylor Graham of SLIB brokered the transaction.
BREA, CALIF. — Integrated Senior Foundation, a nonprofit senior living provider, has received $79.3 million in tax-exempt, floating-rate financing for the acquisition of three properties located in Oregon and Montana. The communities include Magnolia Gardens in Cottage Grove, Ore.; Wiley Creek in Sweet Home, Ore.; and The Lodge in Great Falls, Mont. Together, the properties total 287 units, with 23 independent living, 190 assisted living and 74 memory care units. Magnolia Gardens features 101 units with a full continuum of care. Wiley Creek comprises 108 units, including independent living, assisted living and memory care residences. The Lodge totals 78 assisted living units. JLL secured the financing on behalf of Brea, Calif.-based Integrated Senior Foundation.
