REBusinessOnline

Overbay Development Co. Sells Wagner Mall, Pinebrook Plaza in Bend, Oregon

BEND, ORE. — Overbay Development Co. has completed the disposition of Wagner Mall and Pinebrook Plaza, two shopping centers located in Bend. Western Pacific Holdings acquired the both assets for an undisclosed price. Located at 1800 NE Third St., Wagner Mall features 108,818 square feet of retail space, including Albertsons, Rite Aid and Aaron’s as tenants. The Wagner Mall sale include the mall, large box spaces and the surrounding pad sites, totaling 9.35 acres. Located at 61155 Highway …

Wood Partners Breaks Ground on 314-Unit Alta Art Tower in Portland, Oregon

PORTLAND, ORE. — Wood Partners has broken ground on Alta Art Tower, a Class A multifamily property located at 1516 SW Alder St. in Portland. The high-rise tower will feature 314 units in a mix of studio, one-, two- and three-bedroom floor plans. Units will feature quartz kitchen countertops; stainless steel Energy Star appliances, including gas cooking ranges; vinyl-wood flooring; en-suite master baths with custom-framed mirrors; tile shower surrounds and soaking tubs; walk-in closets; and …

Hone Investments Sells Walgreens-Occupied Property in Central Oregon for $5.7M

COTTAGE GROVE, ORE. — Hone Investments has completed the disposition of a retail asset located at 1074 E. Main St. in Cottage Grove in Central Oregon. West Plaza LLC bought the property for $5.7 million. Walgreens occupies the 14,820-square-foot retail property with 15 years remaining on its existing long-term lease. Jon Busse and David Kotansky of Colliers International San Diego Region represented the seller, while Jeff Miller of First Commercial Real Estate Services represented the …

George Smith Partners Arranges $460M Construction Loan for Five-Star Portland Hotel

PORTLAND, ORE. — George Smith Partners has secured a $460 million construction loan on behalf of BPM Real Estate Group (BPM) for Block 216, a planned 1.1 million-square-foot mixed-use project in downtown Portland. The project was announced in June. Ritz-Carlton will anchor the 35-story tower, offering the first five-star hotel in the state of Oregon. An affiliate of Mosaic Real Estate Investors funded the four-year loan. George Smith Partners’ Malcolm Davies and Zachary Streit, along with …

Weingarten Realty Sells 97,147 SF Oak Grove Market Shopping Center in Oregon

MILWAUKIE, ORE. — Weingarten Realty has completed the disposition of Oak Grove Market, a four-building shopping center located at 15003-15121 SE McLoughlin Blvd. in Milwaukie. Clackamas Federal Credit Union acquired the 97,147-square-foot asset for an undisclosed price. The buyer plans to occupy the 53,000-square-foot former Safeway space at the property, which was built in 1991 by Gramor Development. Additional tenants include Five Guys, Baxter’s Auto Supply, Bank of America, Panda …

BPM Plans $600M, 35-Story Mixed-Use Tower in Downtown Portland

PORTLAND, ORE. — BPM Real Estate Group has unveiled plans for a 35-story tower in downtown Portland that will feature a mix of condominiums, office space, retail and the Pacific Northwest’s first Ritz-Carlton hotel. Project costs are estimated at $600 million. The tower will be built on the current site of the Alder Street Food Cart Pod, a collection of street food vendors that recently announced it would close at the end of this month. Construction of the project is slated to begin …

Wilshire Quinn Provides $1.1M Refinancing for Retail Property in Oregon

BEAVERTON, ORE. — Wilshire Quinn Capital, through Wilshire Quinn Income Fund, has provided a $1.1 million refinancing for a retail property in Beaverton. The multi-tenant, 6,634-square-foot retail building is situated on a 32,670 square-foot lot. At the time of financing, the property was fully leased and recently appraised for $2.1

Carnegie Capital Arranges $15M Construction Loan for Seniors Housing Community in Oregon

OREGON — Carnegie Capital has arranged $15 million in construction financing for a seniors housing community in Southern Oregon. The property offers assisted living and memory care. The developer previously worked with Carnegie Capital for another community in Redmond. Further details on the asset were not disclosed. JD Stettin of Carnegie Capital sourced and structured the three-year loan with a 5.5 percent interest rate. The financing represents a 75 percent loan-to-value

PCCP Purchases 296,000 SF Park Square Office Complex in Downtown Portland for $96.5M

PORTLAND, ORE. — PCCP has acquired Park Square, a two-building office asset on the south end of the Portland’s central business district, for $96.5 million. The name of the seller was not released. Park Square consists of two buildings connected by a lobby/great room, which includes multiple seating areas, a fireplace/lounge area and a high-end soup and salad bar. The asset was substantially repositioned in 2016, including the renovation of its 8,000-square-foot lobby. The first …

Rockridge Investments Purchases Four-Building Industrial Asset in Oregon for $2.9M

BEND, ORE. — Rockridge Investments LLC has purchased an industrial property located in Bend from an undisclosed seller for $2.9 million. Situated on five acres at 687 S.E. Glenwood Drive, the asset consists of four industrial buildings, totaling 26,746 square feet and encompassing seven tax lots. At the time of purchase, multiple long-term tenants occupied the property. Ron Ross and Terry O’Neil of Compass Commercial represented the buyer in the

Conferences