REBusinessOnline

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 …

Berkadia Arranges $82.4M in Financing for Seniors Housing Community in Portland

PORTLAND, ORE. — Berkadia Seniors Housing & Healthcare has arranged $82.4 million in financing for Touchmark in the West Hills, a seniors housing community in Portland.The borrower is Oregon-based Touchmark. Further details on the property and the use of the financing were not disclosed.Chris Cain and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured the financing through Freddie Mac. The seven-year loan has a 53 percent loan-to-value

Berkadia Secures $50.2M HUD Refinancing for Seniors Housing Community in Portland, Oregon

PORTLAND, ORE. — Berkadia Seniors Housing & Healthcare has arranged a $50.2 million HUD 232/223(a)(7) refinancing for a 253-unit independent living, assisted living and memory care community in Portland.“Historically, the property has maintained an occupancy percentage in the low 90s and ended 2020 with an occupancy of 88 percent, showing impressive resilience throughout the pandemic,” says Ed Williams of Berkadia, who led the refinancing.“The HUD refinance will allow the …

Tower Capital Arranges $15.6M Acquisition, Rehab Loan for Multifamily Property in Metro Portland

TUALATIN, ORE. — Tower Capital has arranged a $15.6 million acquisition and rehabilitation loan for an apartment community located in Tualatin, a suburb of Portland. The undisclosed borrower acquired the property in an off-market transaction.The asset features 74 units in a mix of one-, two- and three-bedroom floor plans with outdoor balconies or patios. The borrower plans to implement a capital improvement program to upgrade the remaining 66 partially renovated units. Interior …

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