PORTLAND, ORE. — JLL Income Property Trust has purchased the 324-unit Jory Trail at the Grove apartment complex in Portland for $75 million. The Class A community is situated along Interstate 5 in the submarket of Wilsonville. Jory Trail is situated near major employers like Xerox, Mentor Graphics, Rockwell Collins and Tyco. The acquisition is in line with JLL’s strategy to invest in high-quality apartment assets in strong-performing areas that boast a combination of top incomes and..
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..
BEAVERTON, ORE. — Co-developers MorningStar Senior Living and Confluent Senior Living have broken ground on MorningStar of Beaverton, a 104-unit assisted living and memory care community in the Portland suburb of Beaverton. The community is scheduled for completion in September 2018, with an information center opening onsite early in the year. Situated on 5.25 acres, the 97,653-square-foot development will offer 66 suites for assisted living and 38 suites for memory care. This will be..
PORTLAND, ORE. — LaSalle Investment Management has purchased Pearl West, a 155,465-rentable-square-foot office tower in Portland, for an undisclosed sum. The Class A tower is situated in the Pearl District within a quarter mile of more than 2,200 apartment units, 1.5 million square feet of office space and 1 million square feet of retail space. The mid-rise creative office tower was built in 2016. It is currently 89 percent leased to tenants like Wacom, Zoom+, Regus and Howard S...
VANCOUVER, WASH. — Subway is rolling out its new Subway Fresh Forward design. Currently, 12 pilot locations are now open, including two in the Pacific Northwest and one in California. FRCH Design Worldwide designed the space using a new color palette inspired by fresh vegetables. Highlights include: • Self-order kiosks in select locations, digital menu boards and Apple and Samsung Pay options. • Fresh vegetable display with whole tomatoes, green peppers, onions and cucumbers..
PORTLAND, ORE. — Kimco Realty Corp. (NYSE: KIM) has acquired Jantzen Beach Center, a 746,000-square-foot open-air shopping center in Portland, for $131.8 million. The property is located at in northern Portland near the Oregon-Washington border. Jantzen Beach Center was 96 percent occupied at the time of sale. Notable tenants include Home Depot, Target, TJ Maxx, HomeGoods, Ross Dress for Less, Burlington, Petco, Best Buy, DSW and Michaels. Jantzen Beach Center was built in 1972. It..
DEPOE BAY, ORE. — An unnamed buyer has acquired the 57-room Quality Inn and Clarion Surfrider Resort in Depoe Bay for $6.2 million. The hotel is located at 3115 NW Highway 101, southwest of Portland. It was built in 1996. The full-service, beachfront hotel has ocean-view rooms and amenities including a spa, fitness center, and free Wi-Fi. Brian Resendez of Bluestone and Hockley represented both the buyer and the seller in this transaction.
EUGENE, ORE. — Walker & Dunlop has arranged $43.5 million in financing for the 263-unit Tennyson at Crescent Village in Eugene. The newly constructed, Class A multifamily community is located at 2850 Shadow View Drive. Crescent Village is Eugene’s first master-planned urban neighborhood. The Tennyson contains 35 buildings with units ranging from one- to three-bedrooms. Amenities include a clubhouse with a brew station and fitness center with on-demand classes, racquetball courts, a..
PORTLAND, ORE. — Core Spaces has broken ground on The Collective on 4th, a 569-bed multifamily community located near Portland State University in Portland. The property will target students, as well as young professionals, families and empty nesters. The development is set to include studio, micro-, one- and two-bedroom units alongside two- and three-bedroom townhomes. Outdoor amenities will include bocce ball courts, fire pits, barbecues, private terraces and a fourth-floor terrace with..
PORTLAND, Ore. — Senior Living Investment Brokerage has arranged the sale of Tabor Crest Memory Care, a 27-unit memory care community in Portland. The price was not disclosed. Tabor Crest was built in 2004 and expanded in 2008. Totaling 11,335 square feet on a 21,700-square-foot infill plot, the beds could potentially be expanded from 30 to 38. The buyer was an affiliate of Granite Investment Group. The new owner has leased the property to Avalon Health Care Group. This is the..