REBusinessOnline

Horizon Realty Advisors Buys 179-Unit Student Housing Property Near the University of Oregon

EUGENE, ORE. — Horizon Realty Advisors has purchased Chase Crossing, a 179-unit student housing community located near the University of Oregon campus in Eugene. The company purchased the asset from Chase Crossing LLC for an undisclosed price. The property offers studio and one-bedroom units. Phil Oester, Joe Nydahl and Josh McDonald of CBRE brokered the transaction on behalf of the seller. Benjamin Roelke, also with CBRE, arranged $19.1 million in long-term financing on behalf of …

Trammell Crow, PREI Complete 504,528 SF Spec Industrial Facility in Metro Portland

GRESHAM, ORE. — A joint venture between Trammell Crow Co. and Principal Real Estate Investors (PREI) has completed Glisan Corporate Park, a 504,528-square-foot spec industrial facility in Gresham. The project sits on a 28.5-acre site at 23440 to 23800 N.E. Glisan St., roughly 16 miles east of downtown Portland. The three buildings are available for sale or lease. They range from 139,727 square feet to 200,701 square feet and feature 30- to 32-foot clear heights, ample auto parking and …

Union Investment Acquires The Porter Hotel in Downtown Portland for $148.8M

PORTLAND, ORE. — Union Investment Real Estate GmbH has acquired The Porter, a 294-room boutique hotel in downtown Portland, for $148.8 million. The 16-story hotel is located at 1355 SW 2nd Ave. in the city’s Central Business District. The asset is part of the Curio Collection by Hilton brand. Syracuse, N.Y.-based Widewaters Hotels is the hotel’s developer, vendor and operator. Union Investment purchased the property from Widewaters via its open-ended real estate fund Unilmmo: Global. …

Wolff Plans 140-Unit Independent Living Community Near Portland

HILLSBORO, ORE. — The Wolff Company has announced plans for Revel AmberGlen, a 140-unit independent living community in the Portland suburb of Hillsboro. Wolff plans to break ground later this year for a planned completion in 2020. The four-story property will be located in the Tualatin Valley on the west side of Portland. Revel AmberGlen is the 12th senior living community that The Wolff Company has developed since 2016. The company plans to invest $300 million to $400 million annually …

Capital Pacific Arranges Sales of Two Shopping Centers Near Portland for $44M

WOOD VILLAGE AND MCMINNVILLE, ORE. — Capital Pacific has arranged the sales of two shopping centers in the Portland area: Wood Village Town Center in Wood Village, located 15 miles east of Portland, and McMinnville Plaza in McMinnville, 37 miles southwest of Portland. Wood Village Retail I LLC acquired the 139,831-square-foot Wood Village Town Center for $26.6 million. Wood Village GARP LLC sold the asset, which is home to Kohl’s. Fred Meyer and Lowe’s shadow-anchor the …

Bridge Housing Breaks Ground on 203-Unit Affordable Housing Project in Portland

PORTLAND, ORE. — Developer Bridge Housing has broken ground on the first phase of RiverPlace Parcel 3, a 203-unit affordable housing project in Portland. Bridge Housing will deliver 90 apartments reserved for households earning less than 30 percent of the area’s median family income (MFI); 10 units dedicated to homeless veterans utilizing the Veteran Affairs Supportive Housing (VASH) program; and the balance going toward families earning 60 percent of MFI. Property amenities include a …

Avamere Assumes Management of Five Assisted Living Communities in Pacific Northwest

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 …

MG Properties Group Purchases 340-Unit Apartment Community in Oregon for $97.5M

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

Lancaster Pollard Negotiates $8.8M Refinancing for 48-Bed Memory Care Community in Woodburn, Oregon

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 …

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