Oregon

Alliant Credit Union Closes $9M Refinancing for Office Property in Portland

by Amy Works April 27, 2018

PORTLAND, ORE. — Alliant Credit Union has closed a $9 million refinancing for a newly constructed office property located in Portland’s Eastside submarket. The loan replaces the construction financing. The 33,351-square-foot property features energy-efficient construction, which is expected to result in LEED Platinum certification. Prior to the receipt of certificate of occupancy, the property was 95 percent pre-leased. The borrower was not disclosed. Casey Davidson of HFF referred the transaction to Alliant.

April 27, 2018

Acquisitions Office Oregon Western

NKF Capital Markets Brokers Sale of 100,022 SF Office Property in Portland

by Amy Works April 25, 2018

PORTLAND, ORE. — NKF Capital Markets has arranged the sale of the historic Towne Storage, an office property located in Portland’s Central Eastside submarket. CBRE Global Investors acquired the 100,022-square-foot property for an undisclosed price. Autodesk Inc., an investment-grade credit tenant, occupies property. Nick Kucha and James Childress of NKF Capital Markets represented the seller, Westport Capital Partners.

April 25, 2018

Oregon Retail Western

Restoration Hardware Opens 46,000 SF Home Furnishings Gallery in Portland’s Alphabet District

by Nellie Day April 11, 2018

PORTLAND, ORE. — Restoration Hardware (RH) has opened a 46,000-square-foot location in Portland’s historic Alphabet District. The four-story building features installations of home furnishings in a galley setting, with entire floors dedicated to RH Interiors, RH Modern and RH Outdoor. RH Portland also includes professional design services in a studio environment. Design elements include a 40-foot skylight, 21 crystal helix chandeliers and a landscaped rooftop park with panoramic views of downtown Portland.

April 11, 2018

Hospitality Oregon Western

Curio Collection by Hilton Introduces 297-Room Hotel in Portland

by Nellie Day April 9, 2018

PORTLAND, ORE. — Curio Collection by Hilton has opened The Porter, a 297-room hotel in Portland. The new property is located at 1355 SW 2nd Ave. Amenities include a library, heated indoor pool with Jacuzzi, sauna room, steam room, meditation spa, locker rooms and 24-hour fitness center. Each guest room offers complimentary Wi-Fi, imperial bath products, a mini bar stocked with local products, and a complimentary selection of coffee and tea. Union Investment owns the property, which Widewaters Group manages.

April 9, 2018

Office Oregon Western

Montecito Medical Real Estate Buys Office Building in Oregon

by Nellie Day April 4, 2018

SALEM, ORE. — Montecito Medical Real Estate has purchased WVP-The Doctors’ Clinic medical office building in Salem for an undisclosed sum. Constructed between 1996 and 1999, the 34,554-square-foot building is situated 50 miles south of Portland. The property is directly across the street from a large Kaiser Permanente outpatient facility and is strategically located on the corner of Skyline Road and Kuebler Boulevard.

April 4, 2018

Acquisitions Multifamily Oregon Western

Madison Park Financial Acquires 149-Unit Apartment Community in Portland for $55M

by Amy Works March 28, 2018

PORTLAND, ORE. — Madison Park Financial Corp. has purchased Bridgetown Lofts, a mid-rise apartment community located along the Williamette River in Portland’s Pearl District. Portland Guild Loft Partners sold the property for $55 million. The waterfront community features 149 units with modern finishes, including stainless steel appliances, Euro-style cabinetry, quartz countertops and oversized windows with waterfront views. On-site community amenities include a fitness center, community lounge and courtyard with fire pit, gas grills and a putting green. Joe Nydahl, Phil Oester and Josh McDonald of CBRE represented the seller in the transaction. Additionally, Brian Eisendrath with CBRE Capital Markets’ Debt & Structured Finance arranged a seven-year, fixed-rate loan with three years of interest-only payments through Freddie Mac for the buyer.

March 28, 2018

Acquisitions Hospitality Oregon Western

Crystal Investment Property Negotiates Sale of 43-Room Hotel in Newport, Oregon

by Amy Works March 22, 2018

NEWPORT, ORE. — Crystal Investment Property (CIP), a member of Hotel Brokers International, has brokered the sale of the Econo Lodge in Newport. The property features 43 rooms, which have been updated with new granite and tilework throughout. Joseph Kennedy of CIP represented the undisclosed seller and undisclosed buyer in the deal. The acquisition price was not released.

March 22, 2018

Acquisitions Multifamily Oregon Student Housing Western

Horizon Realty Advisors Buys 179-Unit Student Housing Property Near the University of Oregon

by Amy Works March 15, 2018

EUGENE, ORE. — Horizon Realty Advisors has purchased Chase Crossing, a 179-unit student housing community located near the University of Oregon campus in Eugene. The company purchased the asset from Chase Crossing LLC for an undisclosed price. The property offers studio and one-bedroom units. Phil Oester, Joe Nydahl and Josh McDonald of CBRE brokered the transaction on behalf of the seller. Benjamin Roelke, also with CBRE, arranged $19.1 million in long-term financing on behalf of Horizon Realty Advisors for its HRA Opportunity Fund. The 10-year, fixed rate loan provided by CBRE through Freddie Mac featured an index rate lock at loan application and five years of interest-only payments.

March 15, 2018

Industrial Oregon Western

Trammell Crow, PREI Complete 504,528 SF Spec Industrial Facility in Metro Portland

by Nellie Day March 8, 2018

GRESHAM, ORE. — A joint venture between Trammell Crow Co. and Principal Real Estate Investors (PREI) has completed Glisan Corporate Park, a 504,528-square-foot spec industrial facility in Gresham. The project sits on a 28.5-acre site at 23440 to 23800 N.E. Glisan St., roughly 16 miles east of downtown Portland. The three buildings are available for sale or lease. They range from 139,727 square feet to 200,701 square feet and feature 30- to 32-foot clear heights, ample auto parking and trailer storage. Cara Nolan and Stuart Skaug of CBRE Portland are the exclusive listing agents for the facility.

March 8, 2018

Hospitality Oregon Top Stories Western

Union Investment Acquires The Porter Hotel in Downtown Portland for $148.8M

by Nellie Day March 7, 2018

PORTLAND, ORE. — Union Investment Real Estate GmbH has acquired The Porter, a 294-room boutique hotel in downtown Portland, for $148.8 million. The 16-story hotel is located at 1355 SW 2nd Ave. in the city’s Central Business District. The asset is part of the Curio Collection by Hilton brand. Syracuse, N.Y.-based Widewaters Hotels is the hotel’s developer, vendor and operator. Union Investment purchased the property from Widewaters via its open-ended real estate fund Unilmmo: Global. “The Porter is the ideal addition to our U.S. portfolio, which is set to grow at a similar pace going forward as in recent years,” says Andreas Löcher, head of investment management hospitality at Union Investment. The Porter, which opened this past January, features an upmarket restaurant on the ground floor, a coffee bar and a grab-and-go market, as well as a rooftop restaurant and lounge. The hotel also provides about 1,200 square feet of conference space, in addition to a heated indoor pool and a fitness center, which offers individual meditation and yoga rooms. Portland is Union Investment’s sixth targeted hotel location in the U.S. and its second on the West Coast. The Hamburg, Germany-based real estate investment manager acquired the Hilton Garden Inn …

March 7, 2018

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