Oregon

SLIB Negotiates $8.5M Sale of Seniors Housing Community in Portland

by Amy Works March 8, 2019

PORTLAND, ORE. — Senior Living Investment Brokerage has arranged the sale of RN Villa Care Center, a 38-unit residential care facility in Portland. Residential care is a form of seniors housing that utilizes a smaller, more home-like atmosphere. The 22,165-square-foot community sits on a one-acre plot. A local operator sold the community to a Southern California-based private equity firm for $8.5 million, or $233,000 per unit. The seller plans to use the proceeds to invest in other real estate assets. The seller was seeking to expand its Pacific Northwest portfolio. Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.

March 8, 2019

Acquisitions California Illinois Industrial Kentucky Nevada Oregon Pennsylvania Washington Western

Colony Capital Acquires National Industrial Real Estate Portfolio for $1.2B

by Amy Works March 6, 2019

DALLAS — Affiliates of Dallas-based Colony Capital have purchased a national portfolio of 54 light and bulk industrial buildings for $1.2 billion. The value-add portfolio is located across 10 U.S. markets, totaling 11.9 million square feet, and is 71 percent leased. A portion (48) of the buildings are last-mile light industrial assets and were acquired through Colony’s existing light industrial platform. The remaining six buildings are bulk industrial and were purchased through a newly formed joint venture, in which Colony Capital has 51 percent interest and a third-party institutional investor has 49 percent interest. Located in Northern and Southern California, Washington, Oregon, Nevada, Illinois and Pennsylvania, the light industrial portfolio totaling 7.7 million square feet and was 73 percent leased at the time of sale. The bulk portfolio totals 4.2 million square feet, with an average of 700,000 square feet per building, and was 67 percent leased to blue chip, international companies. CBRE National Partners represented the undisclosed seller in the deal.

March 6, 2019

Acquisitions Hospitality Oregon Western

Crystal Investment Property Directs Sale 69-Key Howard Johnson in Oregon

by Amy Works February 25, 2019

SALEM, ORE. — Crystal Investment Property has arranged the sale of Howard Johnson by Wyndham Salem, located at 2250 Mission St. SE in Salem. Terms of the sale were not released. The interior-corridor hotel features 69 guest rooms and a one-bedroom/one-bath owner’s quarters unit. On-site amenities include an outdoor pool, breakfast area, exercise room, guest laundry facilities, truck/bus/RV parking and a business center. Joseph Kennedy of Crystal Investment Property handled the transaction for undisclosed seller and buyer.

February 25, 2019

Acquisitions Industrial Oregon Western

Compass Commercial Arranges $3.8M Sale of Industrial Building in Oregon

by Amy Works February 20, 2019

REDMOND, ORE. — Compass Commercial Real Estate Services has arranged the sale of an industrial property located at 875 N.E. Kingwood Ave. in Redmond. Redmond Premium Properties sold the asset to an undisclosed buyer for $3.8 million. Situated on 4.5 acres, the property features 25,115 square feet of industrial space. Russell Huntamer and Dan Kemp of Compass Commercial Real Estate Services represented the seller in the deal.

February 20, 2019

Arizona Loans Multifamily Oregon Seniors Housing Walker & Dunlop Western

Walker & Dunlop Provides $39.3M in Financing for Seniors Housing Properties in Arizona, Oregon

by Amy Works February 15, 2019

MESA, ARIZ., AND SPRINGFIELD, ORE. — Walker & Dunlop has funded $39.3 million in financing for two seniors housing properties in Arizona and Oregon. Kevin Giusti, Michael Davis and Jeff Ringwald of Walker & Dunlop led the origination team for the transactions. The Walker & Dunlop team structured a $25.8 million Fannie Mae loan backed by The Summit at Sunland Springs, located at 2415 S. Signal Butte Road in Mesa. Owned Ahlstrom Investments and managed by Avista Senior Living, the facility offers assisted living and memory care units. Prior to the property’s full stabilization, Walker & Dunlop secured a 10-year, fixed-rate loan while recapitalizing the property owner’s equity. The team also arranged a $13.5 million refinance through Freddie Mac for The Rawlin at Riverbend Memory Care. The Freddie Mac loan enabled the sponsor, Onelife Investments, to recapitalize 100 percent of its equity while providing a 15-year, fixed-rate loan. The dedicated memory care facility is located at 3491 Game Farm Road in Springfield.

February 15, 2019

Acquisitions Multifamily Oregon Seniors Housing Western

Cushman & Wakefield Brokers Sale of Two-Property Seniors Housing Portfolio in Portland

by Amy Works February 13, 2019

PORTLAND, ORE. — Cushman & Wakefield National Senior Housing Capital Markets, exclusively advising seller Focus Healthcare Partners LLC, has arranged the sale of a portfolio of two seniors housing assets in Portland. The portfolio included Vancouver Pointe Senior Village, a 127-unit independent living community, and Hawthorne Gardens, a 58-unit assisted living and memory care community in the Sunnyside/Hawthorne neighborhood. A private equity investor acquired the properties for an undisclosed price. Artegan, the current operator, will continue to manage the communities. Vancouver Pointe Senior Village was originally built in 2006 and recently underwent renovations to the common areas totaling nearly $1 million. Hawthorne Gardens was built in 2007 featuring 36 assisted living units and a 22-unit memory care wing. The community also underwent a recent capital improvement program to complete a memory care conversion and a general upgrade of the community.

February 13, 2019

Acquisitions Multifamily Oregon Seniors Housing Western

Marcus & Millichap Arranges Sale of Memory Care Community in Oregon City for $4.9M

by Amy Works February 12, 2019

OREGON CITY, ORE. — Marcus & Millichap has arranged the sale of Oregon City Memory Care, a 31-unit memory care facility in Oregon City, just south of Portland. The facility was vacant at the time of sale and owned by a Seattle-based bank. A private investor acquired the asset for $4.9 million. The previous borrower lacked the working capital to make it through lease-up. The buyer plans to expand several of the units to allow for double occupancy as well as make accessibility improvements to the property. Tony Cassie and Sam Thompson, seniors housing investment specialists located in Marcus & Millichap’s Portland Office, represented the seller in the transaction.

February 12, 2019

Acquisitions Multifamily Oregon Western

Marcus & Millichap Brokers $19.2M Sale of Seven-Property Apartment Portfolio in Portland

by Amy Works January 29, 2019

PORTLAND, ORE. — Marcus & Millichap has arranged the sale of the Ashley Portfolio, a seven-property multifamily portfolio in Portland. An undisclosed buyer acquired the assets for $19.2 million. Built between 1904 and 1943, the portfolio includes six properties located in Northwest Portland and one in Northeast Portland. The properties range from a 39-unit building sold for $7 million to a five-unit building sold for $1 million. Whitney Rhoades, Elizabeth Davis and Danalee Corso of Marcus & Millichap’s Portland office represented the undisclosed seller.

January 29, 2019

Acquisitions Development Industrial Oregon Western

Bridge Development Partners Buys 35-Acre Parcel in Portland, Plans Two Industrial Properties

by Amy Works January 21, 2019

PORTLAND, ORE. — Bridge Development Partners has entered the Portland market with the acquisition of a 35-acre land parcel, located at 775 NE Columbia Blvd., for an undisclosed price. The company plans to construct Bridge Point I-5 – Portland, a two-building industrial park. The property will feature an approximately 425,000-squre-foot building and an approximately 225,000-square-foot facility. The 425,000-square-foot facility will feature 36-foot clear heights with 100 trailer stalls, ideally for distribution-oriented tenants in the 150,000-square-foot to 425,000-square-foot range. The second building will feature 32-foot clear heights and 36 trailer stalls, tailored to distribution, manufacturing and industrial tenants with small needs for space — as little as 20,000 square feet. Bridge expects to deliver the project in late 2020. Tom Talbot, Zach Francis and Karla Hansen of Kidder Mathews represented the buyer, while Brian Mitchell of Macadam Forbes represented the seller, Hanson Pipe, in the transaction.

January 21, 2019

Acquisitions Multifamily Office Oregon Western

CBRE Negotiates $10M Sale of Former YWCA Building in Portland

by Amy Works January 15, 2019

PORTLAND, ORE. — CBRE has brokered the sale of a residential and office building located in Portland’s Cultural District. W.H.J. Holdings LLC sold the property to Harsch Investment Properties for $10 million. Located at 1111 SW 10th Ave., the five-story, 66,074-square-foot building is currently occupied by Morrison Child and Family Services, a nonprofit that provides specialized services to children who have experienced trauma or adversity. Built in 1958 and renovated in 2002, the former YWCA building currently features on-site parking, a full gym, pool and cafeteria. Trevor Kafoury of CBRE represented the seller in the deal.

January 15, 2019

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