Trion Properties Acquires Three Multifamily Assets in Metro Portland for $26M

ALOHA, BEAVERTON AND TIGARD, ORE. — Trion Properties has acquired a three-property multifamily portfolio in metro Portland for a total consideration of $26 million. NBP Capital sold the portfolio, which offers a total of 162 apartments. The transaction included Aster Parc Townhomes in Aloha; Parker Apartments in Beaverton, and York Apartments in Tigard. Located at 18745 Farmington Road, Aster Parc features 62 units in a mix of townhome and garden-style flats ranging from studio to …

Shorenstein Properties Sells 209,000 SF River Forum Office Campus in Portland

PORTLAND, ORE. — Shorenstein Properties has disposed of River Forum, a two-building office asset located in Portland. Clarity Real Estate acquired the campus for an undisclosed price. Situated along the South Waterfront, River Forum features 209,000 square feet of Class A office space. At the time of sale, the property was 90 percent leased to a diverse tenant base. Charles Safley, Paige Morgan and Trevor Kafoury of CBRE represented the seller in the

Hunt Real Estate Capital Provides $11.8M Refinancing for Albany Meadows Apartments in Oregon

ALBANY, ORE. — Hunt Real Estate Capital has provided an $11.8 million Fannie Mae DUS conventional multifamily loan to refinance Albany Meadows Apartments in Albany, approximately 70 miles south of Portland. The borrower is KRBO Oregon Properties, backed by Paul A. Kerley as key principal. The loan features a 12-year term with four years of interest-only payments followed by a 30-year amortization schedule. Additionally, yield maintenance will apply during the first 138 months. Developed …

Clarity Real Estate Receives $18.2M in Refinancing for Creative Office Asset in Portland

PORTLAND, ORE. — Canada-based Clarity Real Estate and its affiliated private equity fund received an $18.2 million bridge loan for the refinancing of 1500, a five-story creative office building located at 1500 NE Irving St. in Portland. Originally built in 1965, the 73,274-square-foot building was fully renovated into creative office space this year. The repositioned property features 10-foot windows, exposed ceilings, polished concrete floors and full-floor availability on the second …

C.E. John Co. Divests of The George Besaw Building in Portland for $23.6M

PORTLAND, ORE. — Vancouver, Wash.-based developer C.E. John Co. has completed the sale of The George Besaw, a multifamily and retail property located at 2323 NW Savier St. in Portland. An undisclosed buyer acquired the asset for $23.6 million. Located in Northwest Portland’s Alphabet District, The George Besaw features 51 apartment residences above three floors of retail space. Current retail tenants include Pine State Biscuits, Life of Pie, Moberi and The Barbers. The building was …

Gerding Edlen Buys 272,079 SF Power + Light Office Building in Portland for $131.5M

PORTLAND, ORE. — An affiliate of Gerding Edlen has acquired the Power + Light Building, an office property located in the central business district of Portland. An affiliate of Beacon Capital Partners sold the asset for $131.5 million. Located at 920 SW Sixth Ave., the 272,079-square-foot property was repositioned in 2018 to appeal to tenants seeking creative office space in a walkable location. The recent $9.4 million repositioning included an overhaul of the building lobby and the …

Crystal Investment Property Arranges Sale of 47-Room Marigold Hotel in Pendleton, Oregon

PENDLETON, ORE. — Crystal Investment Property has brokered the sale of The Marigold Hotel in Pendleton. The two-story property sold for an undisclosed price. Completely updated in 2018, the 47-key hotel features more than $560,000 in capital improvements and a mix of guestrooms. The Marigold Hotel also features close proximity to downtown restaurants and highway access, a designated parking garage, owner’s quarters and an on-site commercial kitchen. Joseph Kennedy of Crystal …

SSSHT Opens Memory Care Expansion at Community in Portland

PORTLAND, ORE. — Strategic Student & Senior Housing Trust Inc. (SSSHT), a public, non-traded REIT sponsored by SmartStop Asset Management, has completed a freestanding memory care expansion in Portland. The project extends the offerings at Courtyard at Mt. Tabor, which already offered independent living and assisted living. The expansion adds a 16,000-square-foot building and 23 units. The 7.1-acre community now offers 309 total units. Known as The Pavilion, the memory care project …

Marcus & Millichap Arranges $1.4M Sale of 10,500 SF Office Building in Portland, Oregon

PORTLAND, ORE. — Marcus & Millichap has brokered the sale of MLK Office, an office property located in Portland. An undisclosed buyer acquired the asset for $1.4 million. Located at 2627 NE Martin Luther King Jr. Blvd., the building features 10,500 square feet of office space. Joseph P. Blatner and Scott Logan of Marcus & Millichap’s Portland office represented the undisclosed seller in the

Lancaster Pollard Arranges $15.2M Refinancing for Two Seniors Housing Communities in Oregon

MEDFORD, ORE. — Lancaster Pollard, a division of ORIX Real Estate Capital, recently arranged a $15.2 million HUD loan for Sapphire Health Services. The transaction will refinance the loans used to acquire Ridgeview Assisted Living and West Wind Enhanced Care, and provide additional funds to make repairs to the properties. Both assets are located in Medford, in the southwest portion of Oregon near the California border. Jason Dopoulos led the transaction for Lancaster

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