REBusinessOnline

Crystal Investment Property Arranges Sale of Olympic View Inn in Sequim, Washington

SEQUIM, WASH. — Crystal Investment Property (CIP) has brokered the sale of Olympic View Inn, a hotel located at 830 W. Washington St. in Sequim. The independent mid-scale hotel features 51 guest rooms spread across two exterior corridor buildings on four tax lots with excess land for future development. The hotel offers newly remodeled rooms, a conference room and fitness center. Joseph Kennedy of CIP worked closely with the undisclosed buyer and seller in the deal. The sales price was …

AMWA to Develop 255-Unit Affordable Seniors Housing Community in Arlington, Washington

ARLINGTON, WASH. — AMWA Development Inc. has closed on a construction financing transaction for Cedar Pointe, a 255-unit affordable seniors housing community in Arlington, approximately 45 miles north of Seattle. Located on a four-acre site in the city’s Smokey Point neighborhood, the property will offer 175 one-bedroom units and 80 two-bedroom units, including a one-bedroom manager's unit. All residents must be over the age of 55 and earning 60 percent or less of the area median …

Hunt Real Estate Capital Refinances Three-Property Multifamily Portfolio in Washington

LAKEWOOD AND TACOMA, WASH. — Hunt Real Estate Capital has provided three Freddie Mac Small Balance Loans totaling $11.1 million for a multifamily portfolio in Washington. The company funded two cash-out refinances, which provided liquidity for the acquisition of the third property. The loans have a five-year fixed-rate term, with no interest-only period, amortized over 30 years. The name of the borrower was not released. Hunt Real Estate provided a $6.7 million loan to acquire Springtree …

Hunt Real Estate Capital Funds $6M Refinancing for Village Montrachet Apartments in Burien, Washington

BURIEN, WASH. — Hunt Real Estate Capital has provided a $6 million Freddie Mac Small Balance Loan for the refinancing of Village Montrachet Apartments in Burien. Village Montrachet LLC, an entity backed by an undisclosed sponsor who purchased the property in 2001, is the borrower. The new loan will refinance existing debt and provide the borrower with proceeds to invest in the acquisition of another commercial property. Built in 1988, the property consists of three three-story apartment …

Amazon Selects New York City, Northern Virginia for $5B Second Headquarters, Nashville for Operations Hub

SEATTLE — Amazon (NASDAQ: AMZN) has officially selected New York City and Arlington, Va., as the homes for its second headquarters, confirming reports last week of the e-commerce giant’s decision to split HQ2. Amazon will invest $5 billion and create more than 50,000 jobs across the two new headquarters locations, with more than 25,000 employees in each new headquarters. Both campuses will feature 4 million square feet of new office space, which is expandable up to 8 million square …

Amazon Reportedly Plans to Split HQ2 Evenly Between Two Cities

SEATTLE — Amazon has decided to split its second headquarters (HQ2) location between two cities, instead of creating one HQ2 facility, according a source who spoke to The Wall Street Journal. According a person familiar with the company’s plans, the driving factor behind the new decision to create two equal offices is the ability to recruit the best tech talent from various geographical regions. Additionally, the decision will ease the potential community issues regarding housing and …

Decron Properties Enters Seattle Apartment Market with $173M Acquisition

BOTHELL, WASH. — Decron Properties has purchased Avana 522 Apartments, a multifamily property located at 18101 126th Ave. NE in Bothell, for $173 million. The transaction marks the Los Angeles-based firm’s entry into the Pacific Northwest real estate market. Situated on 56 acres, the 558-unit property was built in 1988 and expanded in 1999. The garden-style community features a mix of one-, two- and three-bedroom units. Community amenities include two outdoor pools, one indoor pool, two …

PCCP, SteelWave Acquire 632,591 SF Multi-Tenant Office/Flex Park in Metro Seattle

BOTHELL, WASH. — A joint venture between PCCP and SteelWave has purchased Canyon Park Business Center, a 17-building office/flex property located in Bothell, an eastern suburb of Seattle. A venture between SteelWave and Colony NorthStar sold the office park for an undisclosed price. Totaling 632,591 square feet, the campus features 13 Class A flex/office buildings, totaling 450,961 square feet, and four Class A life science lab and data center buildings, totaling 181,630 square feet. At …

BMO Harris Provides $16.7M Acquisition Financing for Seniors Housing Community in Bellevue, Washington

BELLEVUE, WASH. — BMO Harris Bank’s Commercial Real Estate Healthcare group has closed $16.7 million in acquisition and renovation financing for Sagebrook, an independent living, assisted living and memory care community in Bellevue. Altum Senior Living operates the community, which is located across Lake Washington from Seattle. The property offers assisted living and memory care. A large strategic investor in the seniors housing industry teamed up with a regional partner to complete …

Terreno Realty Buys Industrial Development in Washington for $12.4M

KENT, WASH. — Terreno Realty Corp. has acquired an industrial property, currently under construction at 8615 S. 192nd St. in Kent, for $12.4 million. The name of the seller was not released. Situated on 12.7 acres, the 220,000-square-foot, rear-load industrial distribution facility is slated for completion by the end of 2019. The property will feature 47 dock-high and two grade-level loading positions, 36-foot clear heights, and parking for 137 cars and 30 trailers. The estimated …

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