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Ethos Development Breaks Ground on 73-Unit Shift Apartments in Portland

PORTLAND, ORE. — Ethos Development has broken ground for the construction of Shift Apartments, a five-story multifamily property located in Portland’s Overlook neighborhood.The 43,000-square-foot, transit-oriented community will feature 73 apartments in a mix of lofts, one-, two- and three-bedroom layouts affordable to residents earning 60 percent of area median income. Shift will also feature 22 market-rate micro-studios. On-site amenities will include a gym, community room and roof …

Rockbridge Sells Two-Hotel Portfolio in Pacific Northwest Totaling 209 Rooms

PORTLAND, ORE. AND VANCOUVER, WASH. — Rockbridge has completed the disposition of a 209-key, two-hotel portfolio located in Portland and Vancouver. Terms of the transaction were not released.The portfolio consists of the 104-room Homewood Suites Vancouver-Portland in Vancouver and a 105-room Homewood Suites Portland Airport in Portland. Since 2016, the hotels have been undergoing $12.4 million in capital improvements (an average of $59,000 per room). Both properties are unencumbered by …

Guardian Real Estate Sells Hidden Village Apartment Community Near Portland for $30.2M

WEST LINN, ORE. — Guardian Real Estate Services has completed the disposition of Hidden Village, a multifamily property located in West Linn. FPA Multifamily acquired the asset for $30.2 million.Located at 40010 Robin Place, Hidden Village features 98 garden-style apartments in a mix of one- and two-bedroom flats and two-bedroom townhomes averaging 848 square feet. Units include stainless steel appliances, fireplaces, upgraded LED lighting, balcony/patio with storage and vaulted ceilings. …

SPC Acquires Last-Mile Distribution Property in Salem, Oregon for $28.2M

SALEM, ORE. — New Jersey-based SPC LLC has purchased a last-mile industrial property located in Salem from White Plains, N.J.-based Reich Brothers for $28.2 million.The property is a 129,760-square-foot former solar panel plant that Panasonic owned and operated. The company closed operations in September 2017, and Reich Brothers, a facility turn-around specialist, acquired the property in March 2018. In fall 2019, Reich Brothers leased the entire facility to a Fortune 100 e-commerce …

SLIB Negotiates $17M Sale of Two-Property Seniors Housing Portfolio in Oregon

GRANTS PASS AND MEDFORD, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Bridge in Grants Pass and The Orchards in Medford. The properties are approximately 30 miles apart in the southwest corner of the state.The Bridge was constructed in 2001 and offers independent living and assisted living. The Orchards was built in 2000 and offers assisted living. The communities offer a total of 148 units in a combined 103,455 square feet across 3.6 acres of land.A …

SLIB Brokers Sale of 37-Unit Countryside Living Memory Care Community in Canby, Oregon

CANBY, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Countryside Living, a memory care community in Canby, approximately 21 miles south of Portland.The asset features 37 units and 55 beds. The community was originally built in 1959; gutted, remodeled and expanded in 2007; and had its most recent renovations and expansion in 2011. The facility is approximately 21,746 square feet and is situated on approximately 0.78 acres of land.The seller was a local …

Marcus & Millichap Negotiates $9.6M Sale of Macy’s Furniture Gallery-Leased Property in Tigard, Oregon

TIGARD, ORE. — Marcus & Millichap has arranged the sale a retail property located at 9009 SW Hall Blvd. in Tigard. A limited liability company sold the property for $9.6 million.Macy’s Furniture Gallery has occupied the 50,808-square-foot property since 2008, with a triple-net lease extending through 2028.Scott Logan of Marcus & Millichap represented the seller in the deal. The name of the buyer was not

Coast Hospitality Receives $51.1M Refinancing for Benson Hotel Renovations in Portland

PORTLAND, ORE. — Seattle-based Coast Hospitality has received a $51.1 million loan for the refinancing and renovation of Benson Hotel in downtown Portland. Dallas-based Hall Structured Finance closed a first lien bridge loan for the borrower.Originally built in 1912 and expanded in 1959, the 13-story hotel features 287 guest rooms, including 57 suites; two restaurants; a bar/mezzanine lounge; and almost 18,000 square feet of indoor meeting space spanning across 18 different rooms, …

CIP Brokers Sale of 25-Room Ranch Motel in Oakland, Oregon

OAKLAND, ORE. — Crystal Investment Property (CIP) has arranged the sale of Ranch Motel, a motel in Oakland, a tiny city approximately midway between Eugene and Medford. Joseph Kennedy of CIP represented the buyer and seller in the deal. The acquisition price was not released.The exterior corridor motel is located north of Oakland and features 25 A-frame-style rooms and limited service. The property’s updated lobby and cabins feature a mid-century peaked metal

SLIB Arranges $15.5M Sale of HOLI Senior Living Community in Hillsboro, Oregon

HILLSBORO, ORE. — Senior Living Investment Brokerage has negotiated the sale of HOLI Senior Living, a 72-unit assisted living and memory care community in Hillsboro, a suburb of Portland.The community was built in 2019, totaling 39,460 square feet on 2.1 acres.The seller was a local developer and operator, with this being its only seniors housing asset. A private equity firm from Texas bought the property for $15.5 million and installed a Pacific Northwest-based operator.Jason …

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