Oregon

Non-Traded REIT Acquires 286-Unit Seniors Housing Community in Portland for $92M

by Amy Works September 10, 2018

PORTLAND, ORE. — Strategic Student & Senior Housing Trust Inc. (SSSHT) has acquired Courtyard at Mt. Tabor, a seniors housing community in Portland, for $92 million. The property offers 286 units of independent living, assisted living and memory care. The new owners will execute an existing plan to add 23 additional memory care units, with groundbreaking scheduled for fall 2018. The buyer is a non-traded REIT sponsored by SmartStop Asset Management. Located on 7.1 acres in the Mt. Tabor submarket of Portland, the property was constructed in 1999 and renovated in 2009. The community was 94 percent occupied at the time of sale. Integral Senior Living, which has operated the asset since 2011, will stay on as manager under the new ownership. SSSHT now owns a portfolio of four seniors housing communities and two student housing communities acquired for an aggregate price of approximately $275 million.

September 10, 2018

Acquisitions Multifamily Oregon Seniors Housing Washington Western

JCH Negotiates $16.5M Sale of 152-Unit Seniors Housing Portfolio in Pacific Northwest

by Amy Works August 20, 2018

WASHINGTON AND OREGON — JCH Senior Housing Investment Brokerage has arranged the sale of four assisted living and memory care communities in Washington and Oregon. The existing operator matched the top offer of $16.5 million for the properties and will now take over ownership from the industry veterans selling the communities. The portfolio totals 152 units. The specific names and locations of the assets were not disclosed. Jim Hazzard and Nick Stahler were the lead advisors on the transaction.

August 20, 2018

Acquisitions Multifamily Oregon Western

Waterton Sells 202-Unit Apartment Community in Portland for $66M

by Amy Works August 8, 2018

PORTLAND, ORE. — Waterton has completed the sale of Axcess 15, an apartment property located at 1500 NE 15th Ave. in the Lloyd District of Portland. MG Properties Group acquired the property for $66 million. Ira Virden and Carrie Kahn of HFF represented the seller in the deal. Charles Halladay, Scott Gilson and Rick Salinas, also of HFF, arranged financing through Freddie Mac’s CME Program for the buyer. The four- and five-story property features 202 units in a mix of one- and two-bedroom layouts, averaging 851 square feet, with open layouts, breakfast bars, in-unit washers and dryers, and balconies or patios. Additionally, the community features 18,000 square feet of ground-floor retail space. On-site amenities include a 24-hour fitness center, business center, resident lounge, landscaped courtyards and controlled access parking.

August 8, 2018

Acquisitions Mixed-Use Multifamily Office Oregon Retail Western

Greystar Acquires Mixed-Use Property in Portland’s West End

by Amy Works July 31, 2018

PORTLAND, ORE. — Greystar Real Estate Partners, on behalf of its real estate funds, has purchased Indigo at Twelve West, a mixed-use property located at 430 SW 13th Ave. in Portland. The price was not disclosed Situated in the city’s West End submarket, the property features 273 residential apartments, 86,000 square feet of creative office space and a 10,000-square-foot retail component. The office and retail components are fully leased. Completed to LEED Platinum standards in 2009, the property features all-glass façade with floor-to-ceiling windows, 10-foot to 12-foot ceilings, gas appliances and city views.

July 31, 2018

Acquisitions Multifamily Oregon Western

Trion Properties Purchases Multifamily Community Near Portland for $10.5M

by Amy Works July 26, 2018

ALOHA, ORE. — Trion Properties has acquired Springbrook Gardens, a multifamily property located at 6300 SW 188th Court in Aloha, a suburb of Portland. A private seller sold the property for $10.5 million in an off-market transaction. Built in 1971, the property features 84 apartments in a mix of one- and two-bedroom floorplans spread across 21 four-plex buildings. Trion Properties plans to complete strategic value-add renovations to the asset, including upgrades to kitchen cabinetry and appliances, unit flooring, bathroom cabinetry and countertops, as well as renovations to exterior landscaping and outdoor amenities. Liz Tilbury and Ben Murphy of Tilbury Ferguson Investment Real Estate represented the buyer and seller in the deal. Continental Partners arranged a $5.4 million acquisition loan for the borrower.

July 26, 2018

Acquisitions Industrial Oregon Western

Ederer Properties II Sells 77,960 SF Warehouse in Portland for $8M

by Amy Works July 26, 2018

PORTLAND, ORE. — Ederer Properties II has completed the sale of a warehouse property located at 5825 NE Skyport Way in Portland. Adler Realty Investments acquired the single-tenant asset for $8 million. Situated on 6.2 acres, the 77,960-square-foot warehouse includes 7,000 square feet of office space. At the time of sale, the property was fully occupied. Scott Murphy, Zach Francis and Karla Hansen of Kidder Mathews represented both parties in the transaction.

July 26, 2018

Acquisitions Office Oregon Western

Compass Commercial Arranges Sale of Office Building in Bend, Oregon

by Amy Works July 20, 2018

BEND, ORE. — Compass Commercial has brokered the sale of an office building located on 0.4 acres at 40 NW Greenwood Ave. in Bend. Howard Friedman, Jay Lyons and Grant Schultz of Compass Commercial Real Estate Services represented the undisclosed buyer and undisclosed seller in deal. The transaction was valued at $1.6 million.

July 20, 2018

Loans Multifamily Oregon Western

NKF Capital Markets Arranges $75.5M Refinancing for Multifamily Complex in Portland

by Amy Works July 19, 2018

PORTLAND, ORE. — NKF Capital Markets has arranged a $75.5 million loan to refinance The Douglas, a multifamily property located at 2083 SW River Drive along the Willamette River in Portland. ACORE Capital provided the financing for the borrowers, NBP Capital and Berggruen Holdings. Jordan Roeschlaub, Dustin Stolly, Chris Kramer and Nick Scribani of NKF Capital Markets arranged the financing. The property features 290 apartment units and 17,000 square feet of retail space, occupied by a spa, sports bar, property management services and restaurants. The property also features townhome-style units with private garages, backyard space and large unit sizes.

July 19, 2018

Acquisitions Multifamily Oregon Western

Security Properties Buys 228-Unit Multifamily Community in Oregon for $45.5M

by Amy Works July 19, 2018

BEND, ORE. — Security Properties and a university endowment have purchased Seasons at Farmington, a multifamily community located in Bend’s Old Farm District. An undisclosed seller sold the property for $45.5 million. The property features 228 apartments in a mix of one- and two-bedroom layouts, swimming pool, clubhouse with lounging areas and a fitness center, dog park, and outdoor fire pit. This transaction is Security Properties’ first acquisition in Bend. Security Properties Residential, an affiliate of the buyer, will manage the community.

July 19, 2018

Loans Multifamily Oregon Student Housing Western

Cardinal Group Purchases 244-Bed Student Housing Community Near University of Oregon

by Amy Works July 12, 2018

EUGENE, ORE. —Cardinal Group has acquired Arena District, a 244-bed student housing community located near the University of Oregon in Eugene. The property offers two- and four-bedroom units. Shared amenities include a fitness center; hot tub; private study room; study area and internet café; multimedia lounge; clubroom with gaming and pool table; and outdoor courtyard with grilling station. HFF arranged an undisclosed amount of acquisition financing for the transaction. The HFF team, which included Pat Burger, secured the floating-rate loan through Freddie Mac’s CME Program. HFF will also service the securitized loan.

July 12, 2018

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