HILLSBORO, ORE. — MG Properties Group has purchased the 340-unit Thorncroft Farms Apartments in Hillsboro for $97.5 million. The community is located at 2120 N.W. Thorncroft Drive. Thorncroft Farms was built in 1998. It is situated within three miles of the Intel headquarters campus and within four miles of Nike’s headquarters. HFF’s Ira Virden and Carrie Kahn represented the seller, Berkshire Group. CBRE’s Brian Eisendrath and Cameron Chalfant arranged financing.
WILSONVILLE, ORE. — The Avamere Family of Companies, a Wilsonville-based operator, has taken over management of five Colony NorthStar Healthcare Income-owned assisted living communities in Oregon and Washington. The management partnership includes: Avamere at Albany, Albany, Ore. Avamere at Oak Park, Roseburg, Ore. Avamere at Cascadia Village, Bremerton, Wash. Avamere at Wenatchee, Wenatchee, Wash. Avamere at Port Townsend, Port Townsend, Wash. The Avamere Family..
WOODBURN, ORE. — Lancaster Pollard has arranged an $8.8 million HUD refinancing for Heartwood Memory Care Community in Woodburn. The 48-bed community offers exclusively memory care services. The owner sought long-term financing after a successful opening in 2014. The new FHA-insured structure allowed the borrower to refinance senior and mezzanine construction financing into a non-recourse, 35-year, fixed-rate loan. Matt Lindsay and Casey Moore led the transaction for Lancaster..
Contemporary Healthcare Closes $2.8M Loan for Acquisition of Two Assisted Living Communities in Oregon
MEDFORD, ORE. — Contemporary Healthcare Capital has arranged a $2.8 million mezzanine loan to affiliates of Sapphire Health Services. The loan will help finance the acquisition of two assisted living facilities in Medford. Contemporary’s senior lending partner on the transaction was Sunwest Bank of Irvine. The combined loans of approximately $11.8 million were used for the acquisitions of West Wind Enhanced Care, a licensed assisted living facility serving residents afflicted with..
CORVALIS, ORE. — Contemporary Healthcare Capital (CHC) has arranged a $1.2 million mezzanine loan to refinance a 32-unit memory care community in Corvalis, approximately 80 miles south of Portland. The borrower is Benicia Senior Living. Millennium Bank of Chattanooga provided the capital. The combined loans totaling approximately $5.45 million will be used for a bridge-to-HUD loan for Conifer House. The 24,640-square-foot, single-story facility was originally constructed in..
PORTLAND, ORE. — Ready Capital has closed a $7.5 million acquisition loan for a 26,000-square-foot creative office property in Portland. The asset is situated in the Pearl District. The non-recourse, floating-rate bridge loan will fund the acquisition, renovation and stabilization of the asset. Further details were not disclosed.
OREGON — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $13.3 million loan for the construction of an 84-unit assisted living and memory care community in Oregon. Avi Begun of Harborview closed the transaction for the Oregon-based client.
CLACKAMAS, ORE. — McLellan Estate Co. has purchased Clackamas Business Center, a 196,499-square-foot industrial center southeast of Portland in Clackamas for $27.5 million. The center is located at 14863 SW 82nd Ave. Clackamas Business Center was built in 1978. It was 99 percent leased at the time of sale. There are a total of 50 units in the park. Notable tenants include Mattress World, Marion Construction, Portland Fruit LLC, Harmony Kids LLC and Portland Cider Co. Scott Finney and..
PORTLAND, ORE. — A joint venture between Goldman Sachs Asset Management Private Real Estate and HP Investors has acquired a two-property office portfolio in Portland for an undisclosed sum. The properties included in the transaction are Block 90 and 300 Building. The portfolio contains a total of 85,753 square feet. The assets are situated adjacent to one another. They comprise an entire block in the Pearl District and are listed on the National Historic Register. The JV plans to maintain..
PORTLAND, ORE. — Sentre has purchased The Thornton, a 123-unit apartment complex in Portland, for $25.5 million. The community is located at 1953 N.W. Overton St. in the Northwest District. The company will invest $1 million to renovate the common areas and unit interiors. The community will then be rebranded. The Thornton was originally built in 2016. Renovations are slated to begin in January 2018 and finish in fall 2018.