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Oregon

395-SW-Bluff-St-Bend-OR
AcquisitionsLoansOfficeOregonWestern

Ethos Commercial Arranges $6.1M Acquisition Loan for Multi-Tenant Office Building in Bend, Oregon

by Amy Works

BEND, ORE. — Ethos Commercial has secured $6.1 million in acquisition financing for Bluff Street Office, a multi-tenant office located at 395 SW Bluff St. in Bend’s Old Mill District. Built in 2003, the 29,000-square-foot building features three suites, storage and surface parking. At the time of financing, the property was fully occupied with long-term leases. Danny Natsch and Matt Illias of Ethos Commercial Advisors sourced the 70 percent loan-to-value, 10-year fixed-rate loan in the mid 5 percent range through a regional credit union for the undisclosed borrower.

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AcquisitionsMultifamilyOregonWestern

Compass Commercial Brokers Sale of Multifamily Complex in Redmond, Oregon

by Amy Works

REDMOND, ORE. — Compass Commercial Real Estate Services has arranged the sale of a multifamily property located at 2002 SW Canyon Drive in Redmond. HLM Inc. sold the asset to Toney Properties LLC for $4.3 million. Situated on 1.4 acres, the 29,600-square-foot property offers 20 townhome-style apartments. Dan Kemp of Compass Commercial Real Estate Services and Adam Bledsoe of TOK Commercial represented the seller. Kemp also represented the buyer in the deal.  

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ColoradoLoansMultifamilyOregonWestern

BWE Arranges $260M Loan for Refinancing of National Multifamily Portfolio

by Kristin Harlow

DENVER AND BEAVERTON, ORE. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a national portfolio of six multifamily properties totaling roughly 1,500 units. Two of the properties — Hartley Flats and Studio LoHi — are located in Denver, and a third, Victory Flats, is located in Beaverton, Ore. The other properties in the portfolio are in Austin and Charlotte. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the time of the loan closing. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed.

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14798-SE-Parkland-Dr-Happy-Valley-OR
AcquisitionsMultifamilyOregonWestern

Cobalt Sells 180-Unit Sonder Fields Apartment Complex in Happy Valley, Oregon

by Amy Works

HAPPY VALLEY, ORE. — Cobalt has completed the disposition of Sonder Fields, a multifamily property located at 14798 SE Parkland Drive in Happy Valley. An undisclosed buyer acquired the asset for $58.2 million. Built in 2023, Sonder Fields offers 180 one-, two- and three-bedroom apartments with stainless steel appliances, Shaker cabinets, luxury vinyl plank flooring, Calcutta quartz countertops, deep basin kitchen sinks, under cabinet lighting, large kitchen islands, nine-foot ceilings and LATCH keyless entry. Onsite amenities include a 24-hour fitness center, dog park, clubhouse lounge, saltwater pool, hot tub, barbecue picnic areas and private coworking spaces. Ira Virden, Carrie Kahn and Frank Solorzano of JLL Capital Market’s Investment and Sales Advisory team represented the seller in the transaction.

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Division-Apts-Portland-OR
LoansMultifamilyOregonWestern

Ethos Commercial Advisors Arranges $8.5M in Refinancing for Multifamily Property in Portland

by Amy Works

PORTLAND, ORE. — Ethos Commercial Advisors, on behalf of Lombard Equities, has secured $8.5 million in refinancing for Division Apartments in Portland. Totaling 59 units, the property is an assemblage of three separately platted buildings that are immediate adjacent to each other and managed as a single property. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors arranged the interest-only CMBS loan with a five-year term at 70 percent loan-to-value ratio.

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Cedar-Sinai-Park-Portland-OR
AcquisitionsMultifamilyOregonSeniors HousingWestern

Cedar Sinai Park Sells 246-Unit Seniors Housing Campus in Portland

by Amy Works

PORTLAND, ORE. — Nonprofit Cedar Sinai Park has sold its namesake seniors housing campus totaling 246 units in southwest Portland. Situated within four miles of downtown Portland, the Cedar Sinai Park campus comprises Rose Schnitzer Manor, a 154-unit assisted living community; Robison Jewish Health Center, a 44-bed skilled nursing facility; and the Harold Schnitzer Center for Living, a 48-bed skilled nursing facility. Built in 2016, the Harold Schnitzer Center for Living also offers adult daycare services. Rose Schnitzer Manor was constructed in 1998 and 2002, and Robison Jewish Health Center — which is currently vacant — was built in 1956 and renovated in 2017. The property is located within three miles of two short-term, acute-care hospitals. Michael Segal, Dan Mahoney and Daniel Waldhorn of Blueprint represented Cedar Sinai Park in the sale. The seller plans to use sale proceeds to establish a new foundation to continue to serve the Portland Jewish community. An Illinois-based private investor with an Oregon-based operating partner acquired the campus for an undisclosed price. 

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Northwest-Coporate-Park-Building-11-Portland-OR
AcquisitionsIndustrialOregonWashingtonWestern

EQT Exeter Buys Three-Building Pacific Northwest Industrial Portfolio for $49.9M

by Amy Works

KENT, WASH. AND PORTLAND, ORE. — EQT Exeter has acquired a three-building, 312,604-square-foot industrial portfolio in Kent and Portland from an institutional investor for $49.9 million. The portfolio consists of Kent 36 & 39, a 63,500-square-foot distribution building and a 42,022-square-foot small-bay industrial building in Kent, as well as Northwest Corporate Park Building 11, a 207,082-square-foot distribution building in Portland. Brett Hartzell, Paige Morgan, Andrew Stark, Stuart Skaug and Cara Nolan of CBRE represented the undisclosed seller in the transaction.

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2025-2035-NE-Cornelius-Pass-Rd-Hillsboro-OR
LoansOfficeOregonWestern

Gantry Secures $9.5M Acquisition Loan for Office Campus in Hillsboro, Oregon

by Amy Works

HILLSBORO, ORE. — Gantry has secured a $9.5 million loan for the acquisition of a mid-rise office campus in Hillsboro, a suburb of Portland. The borrower, a Los Angeles-based private investor, acquired the asset for $17 million. Situated on 17.7 acres, the campus features two five-story buildings offering a total of 226,000 square feet. The office campus is located at 2025 and 2035 N.E. Cornelius Pass Road. Mark Ritchie and Keegan Bridges of Gantry secured the fixed-rate, interest-only loan through one of the firm’s correspondent insurance company lenders.

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600-NW-Farris-Rd-Gresham-OR
AcquisitionsOfficeOregonWestern

VW Holdings Closes Sale of 4,030 SF Office Building in Gresham, Oregon

by Amy Works

GRESHAM, ORE. — VW Holdings has completed the sale of an office building and adjacent 0.4-acre land site at 600 N.W. Farris Road in Gresham, about 16 miles east of Portland. Lewis & Clark Montessori Charter School acquired the asset for $1.7 million. Constructed in 1978 and renovated in 2003, the 4,030-square-foot, single-story property is ADA-accessible and includes 26 parking spots. Tim Budelman of Portland-based Norris & Stevens represented the seller, while Anne Hecht of Cushman & Wakefield represented the buyer in the deal.

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4004-Kruse-Way-Pl-Lake-Oswego-OR
AcquisitionsDevelopmentHealthcareOfficeOregonWestern

Joint Venture Buys 59,865 SF Office Building Near Portland, Plans Outpatient Healthcare Conversion

by Amy Works

LAKE OSWEGO, ORE. — A joint venture between Evergreen Medical Properties and Bain Capital’s real estate team has acquired 4004 Kruse Way Place, an office building in Lake Oswego, from San Francisco-based Shorenstein Properties for an undisclosed price. The joint venture plans to convert the three-story, 59,865-square-foot building, which is currently operating as traditional office space, into an outpatient healthcare facility. At the time of sale, asset was 74 percent occupied with Providence Health & Services as the anchor tenant. Evan Kovac of JLL Capital Markets National Medical Properties and Buzz Ellis of JLL Pacific Northwest Advisory represented the seller and procured the buyer in the transaction.

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