REBusinessOnline

Menashe Properties Sells Creeksides at Centerpoint Office Campus Near Seattle for $39M

KENT, WASH. — Menashe Properties has completed the disposition of Creeksides at Centerpoint, an office campus located in Kent. An undisclosed buyer acquired the asset for $39 million. The three-building campus features 218,650 square feet of office space. At the time of sale, the asset was 97.6 percent leased to a diverse roster of local, regional, national and government tenants, including Blue Nile and the State of Washington. Logan Greer and Kevin Freels of JLL Capital Markets, along …

CBRE Arranges $160M in Financing for 40-Story Apartment Building in Seattle

SEATTLE — CBRE has secured a $160 million permanent loan for McKenzie Seattle, a 40-story for-rent residential property located at 2202 Eighth Ave. in Seattle. Completed in August 2018, the elliptical tower features 450 apartments in a mix of studio, one-, two- and three-bedroom penthouse layouts and 379 parking spaces. On-site amenities include a fitness center on the 39th floor, a common area with deck on the 40th floor, a private spa retreat and a 24/7 tenant concierge. Wild Ginger, a …

Concord Pacific Buys Multifamily Development Site in Seattle for $72M

SEATTLE — Concord Pacific, a Canadian residential developer, has acquired a multifamily development site located at 1901 Minor Ave. in Seattle for $72 million. Situated within Seattle’s Denny Triangle neighborhood, the site has master-use permit approval for two high-rise residential towers over a large podium. This acquisition is Concord’s second commitment to building vertical neighborhoods in Seattle. Ross Klinger and Tim Foster of Kidder Mathews represented the buyer in the …

BKM Capital Partners Buys 133,595 SF Industrial Portfolio in Metro Seattle for $14.7M

FEDERAL WAY, WASH. — BKM Capital Partners has purchased Federal Way Industrial Portfolio, a two-property portfolio in Federal Way. A private investor sold the eight-building portfolio for $14.7 million in an off-market transaction. Totaling 133,595 square feet, the properties are located at 34004-34016 Ninth Ave. South, 33623-33799 Ninth Ave. South and 801-815 S. 336th St. At the time of sale, the multi-tenant asset was 75 percent occupied. BKM plans to invest $3 million in capital …

Newmark Knight Frank Negotiates $55.2M Sale of Office Campus in Bellevue, Washington

BELLEVUE, WASH. — Newmark Knight Frank has arranged the sale of Corporate Campus East III, an office complex in Bellevue. TA Realty sold the property to a joint venture between Steelwave and Ares Management for $55.2 million. Situated on 11.7 acres at 3001, 3005, 3009 and 3015 112th Ave NE, the four-building campus features 154,765 square feet of office space. Built in the mid-1980s, the asset underwent a major renovation in 2015. At the time of sale, the property was 90 percent occupied. …

Aegis Living Opens 104,000 SF Seniors Housing Community Near Seattle

MERCER ISLAND, WASH. — Aegis Living has opened its newest seniors housing community, located on Mercer Island, between Seattle proper and the developer’s headquarters in Bellevue. Inspired by a Lake Placid ski lodge, the 104,000-square-foot building features 89 units of assisted living and memory care. The community offers a mix of studio, one-bedroom and two-bedroom options, with 16 apartments dedicated to memory care. Aegis Living is the developer, owner and operator. Compass …

Madison Marquette, GFH Financial Acquire Six-Property Senior Living Portfolio for Over $180M

CALIFORNIA, WASHINGTON AND MICHIGAN — Madison Marquette and GFH Financial Group have acquired a portfolio of six private-pay senior living communities in California, Washington and Michigan. Although a specific purchase price was not provided, GFH described the deal as “exceeding $180 million in value.” The properties include: Chateau at River’s Edge and Chateau on Capitol Ave in Sacramento, Calif.; Callaway Gardens in Kennewick, Wash.; Summer Wood in Moses Lake, Wash.; Pine Ridge in …

Newmark Knight Frank Brokers $305M Sale of 901 Fifth Office Tower in Seattle

SEATTLE — Newmark Knight Frank (NFK) has brokered the $305 million sale of 901 Fifth Office Tower, a 41-story, 541,190-square-foot property at the corner of Fifth Avenue and Madison Street in downtown Seattle. NKF’s Kevin Shannon, Nick Kucha, Michael Moll, Rob Hannan and Ken White represented the seller, a partnership of Schnitzer West and Investcorp, in the transaction. HFF represented the buyer, Vanbarton Group. 901 Fifth Office Tower encompasses nearly a full city block and is 100 …

Loja Real Estate Acquires Pair of Western Shopping Centers for $34.4M

LITTLETON, COLO., AND WOODINVILLE, WASH. — Loja Real Estate has acquired two shopping centers in Colorado and Washington for a combined $34.4 million. Loja purchased Village West in the Denver suburb of Littleton for $19.4 million. TJ Maxx anchors the property. Palmer Capital represented the unnamed seller in the transaction. Loja bought Woodgate Center in the Seattle-area city of Woodinville for $15 million. Capital Pacific represented the unnamed seller in the …

Alliance Residential to Develop Assisted Living Community Near Seattle

BELLEVUE, WASH. — Alliance Residential Co. is entering into the Bellevue market with a new construction senior living community to open in 2021. The property, Holden of Bellevue, will be a 136-unit assisted living and memory care facility located at 112th Ave. NE in Bellevue’s Highlands community. Architecture firm Ankrom Moisan designed the mid-rise building, and Alliance Pacific Northwest Builders was the general …

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