REBusinessOnline

Faris Lee Brokers $7.3 Million Sale of Single-Tenant Grocery Property in Baker City, Oregon

BAKER CITY, ORE. — Faris Lee Investments has arranged the $7.3 million sale of a single-tenant, 48,239-square-foot retail property in Baker City. Albertsons, the tenant, has approximately 15 years remaining on its absolute triple-net lease.Chris DePierro, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the Orange County-based seller in the transaction. The buyer was not disclosed.The Albertsons grocery store is located adjacent to Interstate 84. Other national …

Talonvest Negotiates $16M Loan for Two Self-Storage Facilities in Oregon, Washington

PORTLAND, ORE., AND VANCOUVER, WASH. — Talonvest Capital has arranged a $16 million loan for Get Space. The life insurance company-backed, 10-year loan is secured by two self-storage facilities in Portland and Vancouver. The loan provided the borrower permanent financing prior to economic stabilization at the properties.The properties offer a total of 122,000 rentable square feet and 1,257 storage units in a mix of climate-controlled and non-climate-controlled units. The Vancouver …

Norris & Stevens Negotiates $2.4M Sale of Redevelopment Opportunity Space in Portland

PORTLAND, ORE. — Norris & Stevens has arranged the sale of a retail space located at 2251 NE Glisan in Portland. Colton-based First Church of Christ, Scientist, Portland acquired the property from Taoist Tai Chi Society of The United States of America Inc. for $2.4 million.Originally built as a warehouse in 1946, the 4,000-square-foot property has undergone extensive renovations and features a full commercial kitchen and hood, refinished wooden beams, ADA-compliant bathrooms and ample …

MG Properties Group Buys New 324-Unit Multifamily Community Near Portland

HILLSBORO, ORE. — MG Properties Group has expanded its Portland-area multifamily portfolio with the purchase of Zera at Reed’s Crossing, an apartment property in Hillsboro. North America Sekisui House and Holland Partner Group sold the asset for an undisclosed price.Built in 2021, Zera at Reed’s Crossing features 324 garden-style apartments. The community is approximately 10 minutes from two of the area’s largest employers: Nike and Intel.MG Properties Group acquired 13 …

Greystone Communities Plans $124.2M Expansion at Friendsview Seniors Housing Project in Newberg, Oregon

NEWBERG, ORE. — Greystone Communities plans to break ground July 8 on an expansion project at Friendsview, a continuing care retirement community (CCRC) in the Portland suburb of Newberg. Yamhill County Hospital Authority issued $124.2 million in bond financing, underwritten by Ziegler, for the project.The community was founded in 1961 and boasts affordable CCRC living, with average monthly fees of $2,500. The expansion will bring new amenities to current residents across three new …

Alliant Credit Union Provides $13M Loan for Mixed-Use Building in Portland, Oregon

PORTLAND, ORE. — Alliant Credit Union has provided a $13 million permanent loan with $9.5 million in initial funding to refinance debt on a mixed-use building in Portland. The name of the borrower was not released.The financing included a cash-out of equity and an earn-out provision structured as a reimbursement based on the borrower’s capital improvement budget. Additionally, the loan structure ensures the loan-to-value ratio for the property will remain below 65 percent.Built in …

Cardinal Group, TPG Real Estate Acquire Four-Property Student Housing Portfolio Near University of Oregon

EUGENE, ORE. — A joint venture between Cardinal Group Investments and TPG Real Estate Partners (TREP) has acquired The Element Portfolio, a four-property student housing portfolio serving students attending the University of Oregon in Eugene.The 383-bed portfolio is located within walking distance of campus. The new ownership plans to enhance the portfolio through in-unit renovations, furnishing units at three communities and amenity space enhancements. Unit upgrades will include updated …

Ethos Development Breaks Ground on 166-Unit brookLAND Apartment Community in Southeast Portland

PORTLAND, ORE. — Portland-based Ethos Development has broken ground on brookLAND, a multifamily property located in the Brooklyn neighborhood of southeast Portland.The five-story, 128,000-square-foot development will feature 166 apartments and a tea shop integrated into the building’s common space. Units will be available in a variety of floor plans, including five three-bedroom units and two studios affordable to residents earning 60 percent of area median income. Additionally, the …

Exeter Property Group Buys 329,474 SF Industrial Campus Near Portland

TUALATIN, ORE. — Pennsylvania-based Exeter Property Group has purchased an industrial property located at 19855 SW 124th Ave. in Tualatin. Meriwether Tualatin LLC sold the asset for an undisclosed price.Nortek Air Handling Solutions fully occupies the 329,474-square-foot campus, which includes three warehouse/manufacturing buildings on 25.1 acres.Paige Morgan of CBRE represented the seller in transaction. The seller is a private partnership that includes principals of Meriwether …

Norris & Stevens Brokers $2.4M Sale of Griffith Park Office Building in Beaverton, Oregon

BEAVERTON, ORE. — Norris & Stevens has arranged the sale of Griffith Park Office Building, a multi-tenant office property located at 5075 SW Griffith Drive in Beaverton. 5075 SW Griffith LLC acquired the asset from an undisclosed seller for $2.4 million.Constructed in 1979 and renovated in 1991, the two-story property features 20,474 square feet of office space with private offices, conference rooms, open office space and breakrooms.Todd VanDomelen, Duane Link and Doug Carter of …

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