SEATTLE — Kennedy Wilson (KW) has purchased four multifamily properties in the Pacific Northwest. The portfolio contains a total of 996 units. Prices were not disclosed. The transaction includes the 210-unit Latitude in Happy Valley, Ore., and the 264-unit Heatherwood in Gresham, Ore. It also includes two multifamily assets in the greater Seattle and Portland areas containing a total of 522 units. KW purchased the assets through a 1031 exchange. The firm recently sold the 615-unit..
ISSAQUAH, WASH. — Kennedy Wilson (KW) has purchased the 343-unit Atlas apartment complex in the Seattle suburb of Issaquah for $135 million. The community is located at 1036 7th Ave. NW. Atlas features a mix of studio, one- and two-bedroom units ranging from 513 square feet to 1,239 square feet across five mid-rise buildings. The brand-new community includes a fitness center and exercise studio, co-working pods, lounge areas, fire pit, and large outdoor courtyard with seating and barbecue..
SEATTLE — Greenbridge Investment Partners has completed the renovation of Georgetown Squared (G2), a five-story office building in the Georgetown neighborhood of Seattle. The building is located at 5601 Sixth Ave. South. G2 is currently 76 percent occupied. Notable tenants include Iridio Studios, Builders Capital, Andersen Construction, Archbright, Darigold, Girl Scouts of Western Washington, Leukemia & Lymphoma Society and Netfortris. The American Lung Association will soon move into..
SEATTLE — Colliers International has arranged the sale of Prexy Apartments, a 70-bed student housing community located near the University of Washington in Seattle’s University District. The property offers studio, one- and two-bedroom units. Shared amenities include a rooftop lounge and smartphone application-controlled thermostats, locks and lighting. Dylan Simon, Jerrid Anderson and Dorothy Jackman of Colliers International represented the seller, Daly Partners, in the disposition of..
SEATTLE — Harborview Capital Partners has arranged five loans totaling $14.7 million for a 127-unit multifamily portfolio in Seattle. The Freddie Mac loans provided cash-out to the borrower and feature interest rates below 4 percent. Harborview’s Jeffrey Fuchs closed the loans.
LACEY, WASH. — Dermody Properties has purchased Meridian Campus Corporate Park, a 777,579-square-foot industrial park in the Seattle submarket of Lacey, for an undisclosed sum. The park is located at 9107, 9127 and 9225 Polaris Lane. Meridian Campus Corporate Park contains three Class A buildings that feature 30-foot clear heights. The acquisition also includes 18 acres of land where Dermody plans to develop a new distribution building. The new facility will contain 318,028 square feet..
FULLERTON, CALIF., AND VANCOUVER, WASH. — Retail Opportunity Investment Corp. (ROIC) has acquired two shopping centers on the West Coast for a total of $96.5 million. The purchase includes Fullerton Crossroads, a 221,636-square-foot, grocery-anchored community center in Fullerton, and Riverstone Marketplace, a 108,323-square-foot, grocery-anchored shopping center in Vancouver. Fullerton Crossroads was built in 1971 at 3200–3362 E. Yorba Linda Blvd. It was renovated in 1996 and 2005. The..
KIRKLAND, WASH. — Capital Pacific has arranged the $9.1 million sale of Totem Lake Center, a 7,600-square-foot shopping center in Kirkland, 11 miles northeast of Seattle. Capital Pacific arranged the transaction on behalf of the seller, Madison Development Group, and the buyer, a private family trust. Completed this year, Totem Lake Center is fully leased to MultiCare and Mattress Firm.
GIG HARBOR, WASH. — Emerald Communities has opened Heron’s Key, an 18-acre continuing care retirement community (CCRC) in the Seattle suburb of Gig Harbor. Development costs were estimated at $145 million. Ziegler provided bond financing for the project and construction began in June 2016. The community offers a total of 275 units: 184 independent living apartments, 10 independent living cottage homes, 36 assisted living apartments and 45 private skilled nursing beds. Independent..
Berkeley Point Capital Provides $9.3M HUD Refinancing for 63-Unit Seniors Housing Community Near Seattle
TACOMA, WASH. — Berkeley Point Capital has provided a $9.3 million FHA 232/223(f) refinancing for Spring Ridge Assisted Living & Memory Care, a 63-unit seniors housing community in the Seattle suburb of Tacoma. The loan replaces the existing debt on the property, which was for the acquisition, renovation and expansion of the property. Tom White led the transaction out of Berkeley Point’s Bethesda, Md., office. The loan features a 3.45 percent interest rate and an 80 percent..