BEAVERTON, ORE. — A joint venture between Vista Investment Group and Acre Valley Real Estate Capital has purchased Nimbus Oaks, a 171,828-square-foot flex/business park in Beaverton, for an undisclosed sum. The park is located at 9000-9560 S.W. Nimbus Ave. in the 217 Corridor submarket. Notable tenants at Nimbus Oaks include XO Communications, Opus Agency, Kingcom and the Northwest Regional Education Service District. The asset was built between 1984 and 1985. Andrew Kirsh of Sklar..
AUSTIN, TEXAS — American Campus Communities Inc. (NYSE: ACC) has acquired a portfolio of seven student housing properties totaling 3,776 beds across the Western and Midwestern United States for approximately $590.6 million. Affiliates of Milwaukee-based development firm and Core Spaces and Chicago-based DRW Real Estate Investments LLC sold the assets. All of the properties are associated with major universities, with enrollment averaging about 35,000 undergraduate and graduate students at..
PORTLAND, ORE. — NBP Capital has acquired a two-building office portfolio in Portland for $32.2 million. The acquisition includes Blagen Block, a four-story creative office building, and New Market Theater, a six-story office building. Blagen Block was built in 1888. It is fully leased to Airbnb. New Market Theater was built in 1872 and 1875. It is home to Portland’s long-standing Saturday Market. Swift Real Estate Partners acquired both buildings from Beardsley Building Development..
PORTLAND, ORE. — A joint venture between Security Properties Development Co. and Beijing Jade Investment Group has purchased the PepsiCo Distribution Center in Portland for an undisclosed sum. The center is located between NE 25th and NE 27th avenues, and NE Holladay Street and NE Sandy Boulevard. The JV plans to redevelop the five-acre urban property under the City of Portland’s “Large Site Master Plan” designation, offering market-rate and affordable housing, office, retail and..
SALEM, ORE. — A joint venture between PCCP and Capstone Partners has announced plans to develop Mill Creek Logistics Center, a 1 million-square-foot distribution facility in Salem. The facility is situated in the Mill Creek Corporate Center, a 548-acre master-planned industrial park. The JV acquired the land in late August from the State of Oregon – Department of Administrative Services. Development has commenced on the 62-acre parcel with completion anticipated in July 2018. Notable..
PORTLAND ORE. — CareTrust REIT Inc. (NASDAQ: CTRE) has agreed to acquire 13 skilled nursing facilities in three separate transactions for a total purchase price of $97 million. The properties are located in Idaho, Texas, Oregon and Washington. In the first transaction, CareTrust has acquired three skilled nursing facilities in Idaho as part of a staged, seven-facility portfolio transaction. When completed, the full portfolio price will be $65.5 million, which CareTrust funded with cash on..
PORTLAND, ORE. — Bentall Kennedy has purchased the Oregon Clinic Gateway Medical Office Building in Portland for an undisclosed sum. The 101,299-square-foot building is located at 1111 N.E. 99th Ave. It was built in 2006. The facility is fully leased as medical offices, day surgery, on-site diagnostic imaging and laboratory centers. This is the firm’s first medical office building investment in Portland.
CORVALLIS, ORE. — An unnamed buyer has acquired the 420-unit Witham Hill Oaks Apartments in Corvallis for $56 million. The community is located at 4275 N.W. Clubhouse Place. The 50-building property was built in three phases in 1968, 1977 and 1998. Witham Hill contains one- to three-bedroom units, with amenities like a fitness center, clubhouse, basketball court, children’s playgrounds, pool, spa, laundry facilities and covered parking. It’s situated less than two miles from the..
PORTLAND, ORE. — Granite Investment Group has acquired Tabor Crest, a two-property memory care company in East Portland, for an undisclosed price. One of the facilities was completed in 2016 and was leased up in six months. The second was acquired by the sellers in 2004 and underwent improvements to the facility and operations. Avalon Health Care Group will operate the 60-unit portfolio. Congressional Bank provided a bridge loan as part of the transaction. Housing and Healthcare..
GRESHAM, ORE. — Capital One has provided a $12 million fixed-rate HUD 232/223(f) loan to refinance Regency Gresham, a 128-bed skilled nursing facility in the Portland suburb of Gresham. Regency Gresham was built in 1960 and expanded in 1976. The owners recently converted four-person rooms and semi-private rooms to private ones. The sponsors will use proceeds of the loan to extend their renovation program to other areas of the facility, modernize the building’s infrastructure, improve..