Live Oak Funds $15M Construction Loan for Seniors Housing Community in Fairbanks, Alaska

FAIRBANKS, ALASKA — Live Oak Bank has provided a $15 million construction loan for owner-operator Frontier Partners LLC to support the development of a 68-unit assisted living community in Fairbanks.The community will consist of 50,680 square feet and will be situated on 7.8 acres.The debt was structured into two loans utilizing the SBA 504 program. The interim construction loan will be held by Live Oak Bank in the amount of $10.2 million, and the second bridge loan prior to the 504 …

September 30, 2021Alaska, Development, Loans, Multifamily, Seniors Housing, Western

Greystone Provides $22.5M Refinancing for Assisted Living Facility in Anchorage, Alaska

ANCHORAGE, ALASKA — Greystone has provided a $22.5 million bridge loan to refinance Aspen Creek Senior Living, an assisted living facility in Anchorage. Stella Plotkin of Greystone originated the loan on behalf of the borrower, Spring Creek Holdings.The floating-rate, interest-only bridge financing features a 24-month term with two six-month extension options, with the intention to transition to permanent HUD-insured financing. The financing retires the existing loan from the property’s …

August 18, 2021Alaska, Loans, Multifamily, Seniors Housing, Western

SLIB Negotiates $32.5M Sale of Seniors Housing Community in Anchorage, Alaska

ANCHORAGE, ALASKA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 116-unit assisted living and memory care community in Anchorage.The community opened in December 2019. The 82,813-square-foot facility sits on 2.7 acres of land, with an adjacent 2.7-acre plot available for purchase.The community’s developer sold the asset to a national REIT for $32.5 million.The new owner will use a third-party operator. The REIT also is considering a joint-venture …

May 10, 2021Acquisitions, Alaska, Multifamily, Seniors Housing, Western

Institutional Property Advisors Brokers Sale of 28-Property Fred Meyer Portfolio in Pacific Northwest

LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale-leaseback of a 28-property portfolio of net-leased Fred Meyer stores in the West. While the price was not disclosed, Marcus & Millichap’s research department claims that the sale is the largest retail transaction since the beginning of the COVID-19 pandemic. Fred Meyer is a wholly owned subsidiary of Kroger (NYSE: KR) and features a superstore-style format. Benderson …

May 6, 2021Acquisitions, Alaska, Idaho, Net Lease, Oregon, Retail, Top Stories, Washington, Western

Alaska Cargo & Cold Storage to Develop 700,000 SF Climate-Controlled Warehouse at Anchorage International Airport

ANCHORAGE, ALASKA — Alaska Cargo and Cold Storage (ACCS) and the State of Alaska have executed a 55-year ground lease agreement at Ted Stevens Anchorage International Airport (ANC) for the development of a climate-controlled warehouse facility at the airport.Located on Great Circle Route, the 700,000-square-foot facility will offer 32.5 million cubic feet of capacity, providing the airport, which is the world’s sixth-busiest cargo airport, with a critical piece of infrastructure. ANC is …

February 4, 2021Alaska, Development, Industrial, Western

Perkins&Will Designs $30M Renovation of KeyBank Plaza Office Building in Downtown Anchorage

ANCHORAGE, ALASKA — Perkins&Will, a global architecture firm, in partnership with an Alaska-based developer, has designed the $30 million modernization and expansion of 601 W. 5th Avenue, formerly the KeyBank Plaza Building located in downtown Anchorage.Originally constructed in 1972 by Alaska Mutual Savings Bank, the nine-story property required extensive structural repairs as a result of the region’s 7.1 magnitude earthquake in November 2018. In addition to seismic reinforcements, …

January 27, 2021Alaska, Development, Office, Western

Columbia Sussex Buys 348-Room Hotel Portfolio in Anchorage

ANCHORAGE — Columbia Sussex has purchased three hotel properties, totaling 348 rooms, in Anchorage. Blackstone Group sold the assets for an undisclosed sum.The hotels are the 125-room Hilton Garden Inn at 4555 Union Square Drive; the 101-room Hampton Inn at 4301 Credit Union Drive; and the 122-room Homewood Suites at 101 W. 48th Ave. The properties were built in 2001, 1997 and 2003, respectively.Each property features an indoor pool, fitness center with hot tub, 24-hour business …

October 15, 2019Acquisitions, Alaska, Hospitality, Western

Columbia Sussex Completes Renovations at Hilton Anchorage in Alaska

ANCHORAGE — Columbia Sussex has completed a multi-million-dollar renovation at Hilton Anchorage, located at 500 W. Third Ave. in downtown Anchorage. The project included upgrades to the lobby, dining establishments, guest rooms, fitness center and conference spaces.The renovated guestrooms include work stations with desk-level electrical outlets and high-speed internet access, The Bed by Hilton bedding systems, Hilton alarm clock radios with MP3 Player plug-ins, Cuisinart …

June 13, 2019Alaska, Development, Hospitality, Western

KeyBank Provides $12.7M Financing for Mixed-Use Property in Anchorage, Alaska

ANCHORAGE, ALASKA — KeyBank Community Development Lending & Investment (CDLI) has provided Cook Inlet Housing Authority (CIHA) with $12.7 million in financing. The package includes $6.9 million in combined construction-to-permanent loan financing for the development of Elizabeth Place Apartments in downtown Anchorage, along with $5.8 million in Low Income Housing Tax Credit (LITHC) equity.The mixed-use property will feature 2,680 square feet of ground-floor commercial space, 38 units …

November 13, 2018Alaska, Loans, Mixed-Use, Multifamily, Retail, Western

Hunt Mortgage Provides $5.4M Refinancing for Two Multifamily Properties in Anchorage

ANCHORAGE, ALASKA — Hunt Mortgage Group has provided two Fannie Mae Small Balance Loans totaling $5.4 million for two multifamily properties in Anchorage.The borrower is a limited liability company backed by key principal Elaine Baker, owner of Elaine S. Baker & Associates, a design and furnishing company.The transactions included:A $2.8 million loan for the acquisition of Horizon West Apartments, a 29-unit apartment property located at 540 L St. Constructed in 1971, the …

June 6, 2018Alaska, Loans, Multifamily, Western

Live Oak Funds $15M Construction Loan for Seniors Housing Community in Fairbanks, Alaska

Greystone Provides $22.5M Refinancing for Assisted Living Facility in Anchorage, Alaska

SLIB Negotiates $32.5M Sale of Seniors Housing Community in Anchorage, Alaska

Institutional Property Advisors Brokers Sale of 28-Property Fred Meyer Portfolio in Pacific Northwest

Alaska Cargo & Cold Storage to Develop 700,000 SF Climate-Controlled Warehouse at Anchorage International Airport

Perkins&Will Designs $30M Renovation of KeyBank Plaza Office Building in Downtown Anchorage

Columbia Sussex Buys 348-Room Hotel Portfolio in Anchorage

Columbia Sussex Completes Renovations at Hilton Anchorage in Alaska

KeyBank Provides $12.7M Financing for Mixed-Use Property in Anchorage, Alaska

Hunt Mortgage Provides $5.4M Refinancing for Two Multifamily Properties in Anchorage

Recent Features

First-Time Real Estate Fundraisers Must Consider Key Factors

Yardi Matrix: Student Housing Leasing Surpasses Pre-Pandemic Levels, Outlook Bright for 2022

How to Make the Most of Your Inflation Hedge

InterFace Panel Names What’s Hot for Social Media Marketing in the Student Housing Sector

Florida, Texas Dominate U-Haul’s Top 25 Growth Cities of 2021

Recent Coronavirus News

Read the Digital Editions