REBusinessOnline

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 …

ScanlanKemperBard, WHI Real Estate Partners Sell 43,151 SF Office Building in Portland

PORTLAND, ORE. — ScanlanKemperBard and WHI Real Estate Partners have completed the sale of 5550 Macadam, an office building located in Portland. The name of the buyer and acquisition price were not released.Renovated in 2019, the three-story, 43,151-square-foot building features updated common areas, locker rooms and restrooms; a modern, light-filled lobby; and lush landscaping. The property offers 14,000-square-foot floor plates and was 89 percent leased at the time of sale.Buzz …

Dwight Capital Provides $33M HUD Financing for Multifamily Portfolio in Oregon

SALEM AND CORVALLIS, ORE. — Dwight Capital has closed $33 million in HUD financing for a portfolio of five market-rate apartment complexes in Oregon.Totaling 557 units across 26 acres, the portfolio includes Brighton Park Apartments, Salem Parkway Apartments and West Salem Apartments in Salem and Crystal Lake Apartments and The Riviera in Corvallis.The five loans qualified as green/energy-efficient housing and benefitted from a reduction in mortgage insurance premium, according to …

Wolff Co. Acquires 158-Unit Northpointe Multifamily Community in Portland

PORTLAND, ORE. — An affiliate of The Wolff Co. has purchased Northpointe, an apartment property located at 1314 N. Skidmore St. in Portland. A partnership between Fore Property Co. and Principal Real Estate Investors sold the asset for an undisclosed price.Completed in 2019, Northpointe features 106,568 square feet of residential space and 3,748 square feet of commercial space. The 158-unit property offers a mix of studio, one- and two-bedroom floor plans with quartz countertops, in-home …

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