Oregon

CBRE Negotiates $124M Sale of One Jefferson Apartments in Lake Oswego, Oregon

by Amy Works October 10, 2022

LAKE OSWEGO, ORE. — CBRE has brokered the sale of One Jefferson, a multifamily community located at 1 Jefferson Parkway in Lake Oswego. A joint venture associated with Security Properties sold the asset to an undisclosed buyer for $124 million. Josh McDonald, Joe Nydahl and Phil Oester of CBRE represented the seller in the deal. Built in 1986, One Jefferson comprises 58 three-story buildings situated on 20.5 acres. The property offers 347 apartments, averaging 1,049 square feet, with floor plans ranging from studio to five-bedroom/five-bath layouts. The previous owners completed renovations in 2019, including the modernization of approximately 86 percent of units with stainless steel appliances, granite countertops, tile backsplashes, vinyl-plank flooring in wet areas and updated fixtures. Community amenities include a year-round pool, spa, dog park, fitness center, picnic areas, outdoor lounge, sundeck and 644 parking spaces.

October 10, 2022

Loans Multifamily Oregon Seniors Housing Western

Ziegler Arranges $42.4M Refinancing for Rose Villa Seniors Housing Property in Portland, Oregon

by Amy Works October 7, 2022

PORTLAND, ORE. — Ziegler has arranged a $42.4 million Cinderella bank placement, as well as a $7 million taxable revolving line of credit, for Rose Villa, a continuing care retirement community in Portland. Situated on 21.5 acres, the community currently features 261 independent living homes, 16 nursing beds and 16 residential care beds. In addition, Rose Villa’s Phase III project adding 41 new independent living homes and a replacement supportive care neighborhood has come online, with move-ins beginning in July 2022. Phase III was fully presold. Truist Bank will provide a 12-year commitment on the financing and a five-year commitment on the taxable revolving line of credit.

October 7, 2022

Development Loans Multifamily Oregon Western

PCCP Provides $67.5M Construction Loan for Sunshine Dairy Apartment Project in Portland

by Amy Works October 6, 2022

PORTLAND, ORE. — PCCP has provided a $67.5 million loan to finance the construction of Sunshine Dairy, a seven-story, podium-style multifamily property located at 801 NE 21st Ave. in Portland. NBP Capital plans to start construction of the 271-unit community in fourth-quarter 2022, with completion scheduled for fourth-quarter 2024. The development will feature one level of controlled-access subterranean parking. Unit interiors will include vinyl plank flooring, quartz countertops, two-tone modern cabinetry, kitchen peninsulas, pendant and recessed lighting, patios on ground-floor units and in-unit washers/dryers. The property will feature 6,000 square feet of community space and 400 square feet of ground-floor retail space. On-site amenities will include a courtyard garden plaza, fitness center, yoga studio, kitchen, fireside lounge, movie room and a work lounge with private working spaces and a coffee bar.

October 6, 2022

Acquisitions Multifamily Oregon Western

Trion Properties Sells Hallwood Apartments in Beaverton, Oregon for $21.5M

by Amy Works October 5, 2022

BEAVERTON, ORE. — Trion Properties has completed the disposition of The Hallwood Apartments, an apartment property in Beaverton, to a private buyer for $21.5 million. Liz Tilbury of Tilbury Ferguson Investment Real Estate represented Trion and the buyer in the deal. Located at 7535 SW Hall Blvd., The Hallwood Apartments features 76 units in a mix of one- and two-bedroom layouts. The property offers washers, dryers, a swimming pool, ample covered parking and an on-site leasing office. Trion implemented a series of property-wide renovations to the asset, which was constructed in 1986.

October 5, 2022

Acquisitions Industrial Oregon Western

Norris & Stevens Brokers $5.5M Sale of Industrial Building in Clackamas, Oregon

by Amy Works October 5, 2022

CLACKAMAS, ORE. — Norris & Stevens has arranged the sale of the 98th & Lawnfield building, an industrial/flex property located at 14200 SE 98th Court in Clackamas. An undisclosed buyer acquired the asset from 14200 SE 98th LLC and BF Lawnfield for $5.5 million. Constructed in 1998, the five-tenant 26,219-square-foot flex facility features abundant parking, five drive-in doors and a 17-foot clear height. Additionally, the building has easy access to Interstate 205, Highway 224 and Highway 212. Greg Nesting and Gabe Schnitzer of Portland-based Norris & Stevens represented the buyer and seller in the deal.

October 5, 2022

Acquisitions Industrial Loans Oregon Western

Gantry Arranges $6.5M Acquisition Loan for Industrial/Flex Buildings Near Portland

by Amy Works September 30, 2022

LAKE OSWEGO AND TUALATIN, ORE. — Gantry has arranged $6.5 million in permanent financing for the acquisition of two cross-collateralized industrial/flex industrial assets near Portland. The properties include a 14,600-square-foot flex industrial building on Willow Lane in Lake Oswego, and Teton Business Center, a two-building, 45,000-square-foot industrial park in Tualatin. Adam Parker, Paddy Ryan and Bryant Bushnell of Gantry secured the financing on behalf of a longstanding borrower client, a family office partnership. Gantry secured the 20-year loan through one of its correspondent life companies. The financing features an interest rate below 5 percent, which locked at the time of application.

September 30, 2022

Acquisitions Oregon Retail Western

Norris & Stevens Arranges $4.7M Acquisition of Barrows Plaza Shopping Center in Tigard, Oregon

by Amy Works September 29, 2022

TIGARD, ORE. — Norris & Stevens has brokered the sale of Barrows Plaza, a retail center located at 14200 and 14250 SW Barrows Road in Tigard. OPI Aloha LLC & RYL Court LLC acquired the asset for $4.7 million. Constructed in 1998, the 7,999-square-foot shopping center is situated on 1.1 acres. The one-story property has a history of long-term tenancy, with over 50 percent of the space occupied by the same tenants since 1998 and 1999. Todd VanDomelen of Portland-based Norris & Stevens represented the buyer, while Dean Wier of WG Real Estate Investment Services represented the seller, CFH Limited Partnership, in the transaction.

September 29, 2022

Acquisitions Hospitality Oregon Western

Pebblebrook Hotel Trust Sells Historic Kimpton Hotel Vintage Portland to Pacifica Hotels for $32.9M

by Amy Works September 20, 2022

PORTLAND, ORE. — Pebblebrook Hotel Trust has completed the disposition of Kimpton Hotel Vintage Portland, located at 422 SW Broadway in Portland. Aliso Viejo, Calif.-based Pacifica Hotels acquired the property for $32.9 million. Originally constructed in the late 1800s, the European-inspired hotel underwent a multimillion-dollar makeover in 2015 and 2018 that overhauled the lobby, rooms and amenities. Currently, each hotel floor is dedicated to a different Willamette Valley American Viticultural Area and each room is named after a local winery. The hotel features 117 guest rooms, 8,000 square feet of event space, a street-level restaurant and bar called Il Solito and Bacchus Bar, a private wine cellar and a game lounge. Additionally, the hotel’s lobby doubles as a tasting room. Chris Burdett, Matthew Behrens and Aaron Solaimani of CBRE Hotels in the Pacific Northwest represented the seller in the deal.

September 20, 2022

Acquisitions Multifamily Oregon Western

Next Wave Buys 180-Unit, Value-Add Multifamily Community in Gresham, Oregon for $34M

by Amy Works September 20, 2022

GRESHAM, ORE. — Next Wave Investors has acquired The Nash, a 180-unit apartment property located at 224 SE 188th Ave. in Gresham. An undisclosed seller sold the asset for $34 million. Built in 1975, The Nash features 68 one-bedroom units, 104 two-bedroom and eight three-bedroom units, as well as a pool, children’s pool, spa, on-site laundry facilities, playground, clubhouse and fitness center. Next Wave plans to implement a series of in-unit capital improvements, including new appliances, cabinets, doorframes, drawers, countertops, vinyl flooring, contemporary plumbing and lighting fixtures, air conditioning wall units and window coverings. Additionally, the company plans to upgrade the property exterior with refreshed landscaping; refurbished roofing; parking lot resurfacing; renovation of the fitness center, pool, spa and leasing office; and improved on-site security.

September 20, 2022

Development Multifamily Oregon Western

Wood Partners Breaks Ground on 326-Unit Alta Amberglen Multifamily Community Near Portland

by Amy Works September 19, 2022

HILLSBORO, ORE. — Wood Partners has broken ground on Alta Amberglen, an apartment property on 18 acres at the intersection of NE Eckert Drive and Walker Road in Hillsboro. Slated for completion in 2024, Alta Amberglen will feature 326 one-, two- and three-bedroom apartments, as well as townhome options. Each residence will offer kitchens in two color palettes, stainless steel appliances, quartz countertops, tile backsplash, in-unit washers/dryers and wide-plank flooring throughout. Community amenities will include an on-site pocket park, a 10-acre wooded area and natural stream within the property’s 18-acre site, a fitness center with yoga studio, multiple coworking spaces, a game room with golf simulator, a podcast studio and ample room for socializing with fellow residents. Preleasing for Alta Amberglen is scheduled to begin in late 2023. Wood Residential will manage the property.

September 19, 2022

Newer Posts

Older Posts