Oregon

Wiley-Creek-Brea-CA

BREA, CALIF. — Integrated Senior Foundation, a nonprofit senior living provider, has received $79.3 million in tax-exempt, floating-rate financing for the acquisition of three properties located in Oregon and Montana.  The communities include Magnolia Gardens in Cottage Grove, Ore.; Wiley Creek in Sweet Home, Ore.; and The Lodge in Great Falls, Mont. Together, the properties total 287 units, with 23 independent living, 190 assisted living and 74 memory care units. Magnolia Gardens features 101 units with a full continuum of care. Wiley Creek comprises 108 units, including independent living, assisted living and memory care residences. The Lodge totals 78 assisted living units.  JLL secured the financing on behalf of Brea, Calif.-based Integrated Senior Foundation.

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Union-Corvallis-OR

CORVALLIS, ORE. — TSB Realty has arranged the sale of The Union Corvallis, a 221-bed student housing community located near the Oregon State University campus in Corvallis. Delivered in 2013, the property offers 68 units in a mix of one-, two- and four-bedroom configurations. Shared amenities include a clubhouse with pool and ping pong tables, an outdoor sundeck and grilling area, a resident lounge with a television, study lounge with private study spaces, a computer station and library area. Cardinal Group Cos. acquired the property for an undisclosed price. The seller was not released.

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19909-SE-Stark-St-Portland-OR

PORTLAND, ORE. — Norris & Stevens has arranged the sale of a 16-room residential care facility located at 19909 SE Stark St. in Portland. The Pribeagu family sold the asset to an undisclosed buyer for $5.3 million. Constructed in 2003 and zoned for 34 beds, the 13,414-square-foot facility comprises two buildings on 1.4 acres. All 16 rooms are fully furnished and ADA compliant with private bathrooms and individual temperature control. Facility amenities include a full kitchen, three laundry rooms, an intercom system, office spaces, a large community room, two storage sheds and approximately 3,000 square feet of garage space. David Chatfield of Portland-based Norris & Stevens represented the seller, while Lindsay Murphy of Apex Real Estate Partners represented the buyer in the deal.

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LINCOLN CITY, ORE. — The Capital Services Group of Global Real Estate Advisors (GREA) has secured a $4 million loan for the refinancing of a garden-style apartment complex in Lincoln City, located on Oregon’s coast. The 44,250-square-foot property offers 48 apartments. Matt Swerdlow, Matthew Dzbanek and Anthony Priest of GREA Capital Services arranged the transaction. Adam Smith of GREA provided local advisory services for the deal. The loan featured a 10-year term, 30-year amortization schedule and no prepayment penalty.

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11125-SE-21st-Ave-Milwaukie-OR

MILWAUKIE, ORE. — CBRE has arranged the sale of Axletree Apartments, a multifamily complex located at 11125 SE 21st Ave. in Milwaukie. A private seller sold the asset to an undisclosed buyer for $28 million. Built in 2019, Axletree Apartments features 110 studio, one- and two-bedroom units with in-unit washers/dryers and stainless steel appliances. Josh McDonald and Joe Nydahl of CBRE represented the seller in the deal.

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9700-SW-Capitol-Hwy-Portland-OR

PORTLAND, ORE. — Norris & Stevens has arranged the acquisition of Capitol Park, an office property located at 9700 S.W. Capitol Highway in Portland. 9700 SW Capitol LLC purchased the building from an undisclosed seller for $5.7 million. Constructed in 1983 and renovated in 1993, the two-story, 29,000-square-foot building features a recently remodeled lobby and bathrooms, a new roof and an outdoor dining area for tenants. Raymond Duchek and Thomas McDowell of Portland-based Norris & Stevens represented the buyer, while Steve Bowers and Sean McCarthy of Kidder Mathews represented the seller in the deal.

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Summerlinn-Apts-West-Linn-OR

WEST LINN, ORE. — CBRE has arranged the sale of Summerlinn Apartments, a multifamily property in West Linn. A private buyer acquired the asset from Reliant Group for $33.6 million. Situated on 6 acres at 400 Springtree Lane, Summerlinn Apartments features 94 one-, two- and three-bedroom units. Community amenities include a gated entrance, landscaped grounds, a sports court, play area and a remodeled clubhouse with a pool, hot tub and an outdoor entertainment space. Josh McDonald, Joe Nydahl and Matt Dodd of CBRE represented the seller in the deal.

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Ansley-Murrayhill-Tigard-OR

TIGARD, ORE., AND BELLEVUE, WASH. — Palo Alto, Calif.-based Pacific Urban Investors has purchased two apartment communities in Oregon and Washington. Terms of the transactions were not released. The company acquired Meadow Creek, a 304-unit multifamily in Tigard, that has been renamed Ansley Murrayhill. Built in 1985, the two-story, garden-style property features 608 parking spaces, a clubhouse, fitness center, game room, swimming pool, spa, racquetball court and a dog park. Pacific Urban Investors also purchased Edgewood Park, a 195-unit property in Bellevue, that has been renamed Alder Bellevue. The low-density, garden-style community offers 372 parking spaces, two swimming pools, a fitness center and ample green space.

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3757-SE-Clay-St-Portland-OR

PORTLAND, ORE. — Structure Redevelopment LLC has completed the disposition of Clay Street Apartments, a 7,357-square-foot multifamily property in Portland, to an undisclosed buyer for $3.1 million. Constructed in 2023, Clay Street Apartments features one studio unit, 12 one-bedroom/one-bath units and two two-bedroom/two-bath units with modern fixtures and appliances, luxury vinyl plank flooring, in-unit washers/dryers and air conditioning vent ports. The community is located at 3757 SE Clay St. Jake Holman of Portland-based Norris & Stevens represented the seller, while the buyers were self-represented in the transaction.

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Ackerly-Sherwood-OR

SHERWOOD, ORE. — BMO Healthcare’s Real Estate Finance group has provided a $41 million loan for the acquisition of The Ackerly at Sherwood, a senior living community located in Sherwood, roughly 15 miles southwest of Portland. A joint venture between an institutional investor and Merrill Gardens is the borrower. Merrill Gardens will manage and operate the property. The Ackerly at Sherwood totals 130 units with independent living, assisted living and memory care residences. Based in Seattle, Merrill Gardens manages more than 60 seniors housing communities across 20 states. 

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