Property Type

JRK Property Holdings Buys Two-Property Multifamily Portfolio in Fresno for $98.7M

by Nellie Day November 10, 2017

FRESNO, CALIF. — JRK Property Holdings has purchased a 614-unit apartment portfolio in Fresno for $98.7 million. The portfolio includes the 218-unit Crown Point and the 200-unit Cascades. Both properties are situated within the Dominion neighborhood. Each property features a mix of one- and two-bedroom floor plans with wood-burning fireplaces, and units come with either garages or covered parking. Mark Leary and Nate Oleson of ARA Newmark represented the seller, Demmon Partners, in this transaction.

November 10, 2017

Colorado Loans Multifamily Western

Grandbridge Provides $44M Permanent Loan for Crowne at Timberline Apartments in Fort Collins

by Nellie Day November 10, 2017

FORT COLLINS, COLO. — Grandbridge Real Estate Capital has provided $44 million in first-mortgage financing for the 310-unit Crowne at Timberline apartments in Fort Collins. The Class A community is located at 2001 Rosen Drive. Crowne at Timberline offers a view of the Rockies Mountains Front Range. Amenities include a media room, exercise room, business center, swimming pool, waterscape area, and outdoor lounge area with fire pit and TVs. The 10-year, permanent, fixed-rate loan features a 30-year amortization schedule with an initial period of interest-only payments. Proceeds from the loan will be used to pay off the construction loan. The property opened in late 2016. William Silsbee originated the transaction for an undisclosed repeat customer.

November 10, 2017

Office Oregon Western

National Financial Realty Sells Wells Fargo Bank Office Building in Oregon for $39.7M

by Nellie Day November 10, 2017

HILLSBORO, ORE. — National Financial Realty (NFR) has sold the 211,863-square-foot Wells Fargo Bank office building in Hillsboro for $39.7 million. The building is located at 18700 N.W. Walker Road. The buyer was not named. The transaction represents the final sale and investment exit of a 3.6 million-square-foot portfolio that contained 41 office and retail buildings in nine states. NFR originally purchased the Hillsboro property in 2010. In March 2013, the firm acquired a 40-building, 3.3 million-square-foot portfolio with 90 percent of the buildings leased to Wells Fargo. NFR and its capital partners invested several million dollars in capital improvements throughout the portfolio.

November 10, 2017

California Office Western

C.W. Driver Breaks Ground on Newport Harbor Medical Plaza in Newport Beach

by Nellie Day November 10, 2017

NEWPORT BEACH, CALIF. — C.W. Driver has broken ground on Newport Harbor Medical Plaza, a 26,500-square-foot medical facility in Newport Beach. The Class A facility will be located at 330 Old Newport Blvd. It is situated near Hoag Memorial Presbyterian Hospital Newport Beach. The facility is scheduled for completion in fall 2018. Office spaces will range from 2,000 square feet to 16,500 square feet. The property will offer second-floor patio deck amenities, two levels of below-grade parking and gurney-accessible elevators. Shaoulian Properties is developing Newport Harbor Medical Plaza, which Bundy-Finkel Architects is designing.

November 10, 2017

Arizona Hospitality Western

Hilton Opens Dual-Branded Hotel Property in Tempe

by Nellie Day November 10, 2017

TEMPE, ARIZ. — Hilton has opened the new dual-branded Hilton Garden Inn Phoenix-Tempe ASU Research Park and Home2 Suites by Hilton Phoenix-Tempe ASU Research Park in Tempe. These hotels will add 228 new rooms to the Arizona State University area. Developer RB-WW Tempe LLC owns the properties, which Widewaters Tempe Hotel Management Company LLC manages. The hotels are situated across the street from the 320-acre ASU Research Park, which serves as the headquarters for GoDaddy and Shutterfly, among others. The hotel has two distinct lobbies and will share access to an outdoor pool, fire pit and barbeque grill area, and fitness center.

November 10, 2017