GRESHAM, ORE. — Trion Properties has completed the disposition of Edison Apartments, a multifamily community located at 1833 6th St. in Gresham, the largest suburb of Portland. An undisclosed buyer acquired the property for $19.5 million.Completed in 2020, Edison Apartments features 64 units with in-unit washers/dryers, stainless steel appliances, granite countertops, air conditioning, modern wooden blinds, large windows and storage units. Community amenities include onsite parking, a …
BROOKINGS, GOLD BEACH AND SHERIDAN, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of four properties in Oregon: two properties in Brookings, one in Gold Beach and another in Sheridan.The combined communities consist of 169 units and 190 beds. Brookings is a city in Curry County, located on the coast. Gold Beach is located 30 miles north of Brookings on the coast. Sheridan is located approximately 50 miles southwest of Portland.These facilities combined total …
BETHESDA, MD. AND COSTA MESA, CALIF. — Bethesda-based retail real estate owner First Washington Realty (FWR) has purchased Donahue Schriber Realty Group Inc., a shopping center owner based in Costa Mesa. An affiliate of FWR acquired the private retail REIT and its portfolio of grocery-anchored, open-air centers from institutional investors advised by J.P. Morgan Global Alternatives.The transaction adds 47 shopping centers, as well as one DSRG-owned office property, for a combined 6 …
PORTLAND, ORE. — JLL Capital Markets has secured $95.2 million in construction financing and joint venture equity for the development of Slabtown Square, a multifamily project in Portland. The borrower is Guardian Real Estate Services.Casey Davidson and Charlie Watson of JLL Capital Markets arranged the four-year, floating-rate construction loan through a large money center bank, while Ira Virden and Mark Erland of JLL’s equity placement team secured the joint venture equity through an …
MEDFORD AND EUGENE, ORE., AND BUTTE AND BILLINGS, MONT. — Harrison Street has completed the disposition of five senior housing properties valued at $193.5 million to The Springs Living. The properties were held across several of Harrison Street’s U.S Opportunity Funds and related co-investment vehicles.The portfolio consists of 622 independent living, assisted living and memory care units in Medford, Eugene, Butte and Billings. As of December 2021, the properties had an average …
SALEM, ORE. — Ziegler has arranged $58.4 million in bond financing for Capital Manor, a continuing care retirement community (CCRC) in Salem.Capital Manor features 302 independent living units and 83 residential care beds with an additional 34 memory care beds. Life Care Services has operated the community since 2010.The financing will refund bonds from 2012 while funding a renovation project that will include a new façade and refreshed common areas.“It has been exciting to see …
HILLSBORO, ORE. — Northbrook, Ill.-based Pine Tree, in partnership with a U.S. state pension fund, has purchased Sunset Esplanade, a neighborhood retail center in Hillsboro, for $65.9 million.Target, Safeway, Ross Dress for Less, Petco and Starbucks Coffee are tenants at the 269,710-square-foot shopping center, which is located along SE Tualatin Valley Highway.Faris Lee Investments brokered the transaction. The name of the seller was not
OREGON AND MONTANA — LTC Properties Inc. (NYSE: LTC) has originated a $25 million mezzanine loan for the recapitalization of a five-property seniors housing portfolio.The loan has a term of five years and two months, with two one-year extension options. It bears interest at 8 percent, with an internal rate of return of 11 percent.Located in Oregon and Montana, The Springs Living operates the five communities, which include independent living, assisted living and memory care and total …
SALEM, ORE. — Brinkman Real Estate has purchased Willow Tree Place Apartments, a multifamily community in Salem, for an undisclosed price. The transaction is Brinkman’s first acquisition in the Oregon multifamily market.Built in 2021, Willow Tree Place features 96 two- and three-bedroom garden-style apartments with Class A interior finishes.Brady O’Donnell, Jeff Halsey, Alex Scott and Jill Haug of CBRE Capital Markets’ Debt & Structured Finance group in Denver arranged a …
BEAVERTON, ORE. — Greystone has provided a $97.2 million HUD 223(f) loan to refinance Deveraux Glen Apartments in Beaverton. Melvin Mark Capital Group brought the opportunity to Greystone for the borrower, Peterkort Residential I.Constructed in 2007, Deveraux Glen Apartments features 34 detached and semi-detached townhouse walk-up buildings consisting of one-, two-, three- and four-bedroom units.The fixed-rate loan carries a 35-year term and amortization, with a 65 percent …
