REBusinessOnline

NBS Financial Secures $5M in Financing for Mixed-Use Asset in Seattle

SEATTLE — Norris, Beggs & Simpson Financial Services (NBS Financial) has arranged $5 million in financing for Wallingford Center in Seattle. The borrower is Wallingford Center LLP. Mike Wood and Colin Ceithaml of NBS Financial secured the non-recourse, fixed-rate loan. Riversource LLC, a life company correspondent of NBS Financial, provided the capital. Originally constructed as a school, the 28,377-square-foot mixed-use asset features retail space on the first two floors and 24 …

Avenue 55 to Develop 212,516 SF Industrial Project in South Seattle

SEATTLE — Seattle-based Avenue 55 is developing Track 6, a multi-story industrial space located in the SoDo submarket of Seattle. Situated on 2.4 acres, Track 6 will include a four-story, 212,516-square-foot building with dock-high and grade-level loading into forklift freight elevators, 54,000-square-foot floor plates, a ground-floor with 24-foor clear heights and 108 surface parking stalls. Construction is slated to begin later this year with delivery scheduled for fourth-quarter …

Cadence Real Estate Sells Sunset Villa Apartment Building in Seattle for $5.4M

SEATTLE — Cadence Real Estate has completed the disposition of Sunset Villa, an apartment building located at 3736 24th Ave. in Seattle’s Ballard neighborhood. Marysville Apartments LLC acquired the property for $5.4 million, or $320,588 per unit. Built in 1963, the four-story Sunset Villa features 12 one-bedroom and five two-bedroom units. The seller recently completed a significant renovation to both the common areas and individual units of the building. Renovations included …

Colony Capital Acquires National Industrial Real Estate Portfolio for $1.2B

DALLAS — Affiliates of Dallas-based Colony Capital have purchased a national portfolio of 54 light and bulk industrial buildings for $1.2 billion. The value-add portfolio is located across 10 U.S. markets, totaling 11.9 million square feet, and is 71 percent leased. A portion (48) of the buildings are last-mile light industrial assets and were acquired through Colony’s existing light industrial platform. The remaining six buildings are bulk industrial and were purchased through a …

Goldman Sachs Buys 372-Unit Bailey Farm Apartments in Metro Seattle

BOTHELL, WASH. — Goldman Sachs Asset Management Private Real Estate has purchased Bailey Farm Apartments in Bothell, a suburb of Seattle. Terms of the transaction were not disclosed. Built in 2013, Bailey Farm Apartments features 372 units with nine-foot ceilings, direct-access garages, quartz countertops, vinyl plank flooring and stainless steel appliances. This transaction is the buyer’s 24th multifamily investment. The company currently owns approximately 6,450 multifamily …

3650 REIT Arranges $78M Loan to Complete Tacoma Marriott Convention Center Hotel

TACOMA, WASH. — 3650 REIT has facilitated a $78 million construction loan for Yareton Investment. The borrower plans to use the loan to complete the development of a full-service Marriott hotel in Tacoma. Now 30 percent complete, the 22-story hotel will feature 304 guest rooms, 9,000 square feet of event space, a 10,000-square-foot ballroom and direct connection to the Greater Tacoma Convention Center. With this loan, Yareton Investment is able to advance the development of the …

Park Row LLC Acquires 239,607 SF Industrial Park Near Seattle for $47.2M

WOODINVILLE, WASH. — Locally based Park Row LLC has purchased The Park at Woodinville, a Class A industrial park located at 14103 NE 200th St. in Woodinville, a suburb approximately 20 miles northwest of Seattle. Newport Beach, Calif.-based KBS sold the property for $47.2 million, or $197 per square foot, in an off-market transaction. Todd Gauthier and Jason Bloom of Kidder Mathews represented the buyer in the deal. The five-building, 239,607-square-foot industrial park features a …

Starboard Realty Advisors Acquires 56-Unit Madison View Apartments in Seattle

SEATTLE — Starboard Realty Advisors has purchased Madison View Apartments, a multifamily property located near the Capitol Hill neighborhood of Seattle, for an undisclosed price. Originally built in 1912 and renovated in 2018, the building features 56 units, including eight micro-units, with modern finishes, a community courtyard with fire pit and balconies with views of Lake Washington in select units. The renovations includes stainless steel appliances, quartz countertops, new …

The Hotel Group Opens 142-Room Sound Hotel Seattle Belltown

SEATTLE — The Hotel Group has opened The Sound Hotel Seattle Belltown, A Tapestry Collection by Hilton. Situated at 2120 Fourth Ave. in Seattle’s Belltown neighborhood, the hotel features 142 guest rooms; views of the downtown Seattle skyline and Puget Sound; ground-level restaurant Currant Bistro with adjacent grab-and-go coffee bar; and meetings and special event space. Tapestry Collection by Hilton offers a boutique-style hotel with the backing of Hilton’s size and brand. This is …

Newmark Knight Frank Arranges Sale of 174,546 SF Canyon Pointe Office Campus in Washington

BOTHELL, WASH. — Newmark Knight Frank (NKF) has arranged the sale of Canyon Pointe, a single-tenant office campus located at 22309 and 22213 30th Drive SE in Bothell. Terms of the transaction were not released. T-Mobile occupies the 174,546-square-foot Class A office campus under a long-term lease agreement. Built in 2007 on 9.8 acres, the property includes two three-story buildings with private third-floor balconies, abundant on-site parking, 30,000-square-foot floorplates and an outdoor …

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