TIGARD, ORE. — Los Angeles-based Watt Cos. has purchased Sygnii, a multifamily property located at 13285 SW Hawks Beard St. in Tigard, a suburb of Portland. Vancouver, Wash.-based Holland Partner Group sold the property for $75.2 million. Built in 2017, the property features 240 units in a mix of one-, two- and three-bedroom layouts. The property offers parking for 409 vehicles in 74 garages, 99 carport stalls and 236 surface spaces. Mark Washington, David Young and Corey Marx of JLL represented the seller, which developed the property.
ROSEBURG, ORE. — Norris, Beggs & Simpson Financial Services (NBS Financial) has secured $2 million in financing for Newton Creek Center, a retail property located in Roseburg. Ken Griggs, Paddy Ryan and Bryant Bushnell of NBS Financial arranged the fixed-rate, non-recourse funding for the undisclosed borrower. A correspondent life company of NBS Financial provided the funding. The perm loan financing was structured with a 15-year term and a 25-year amortization, with rate reset options every five years. Built in 2004, Newton Creek Center is a two-building, 13,717-square-foot retail property. At the time of financing, the property was 100 percent occupied. Tenants include Batteries Plus Bulbs and Edward Jones.
HILLSBORO, ORE. — The Wolff Co. has broken ground for Revel Amberglen, an independent living seniors housing community within Hillsboro’s mixed-use Amberglen Business Park. Slated to open in 2020, the five-story property will feature 143 studio, one- and two-bedroom residences, a full-service salon and spa, an indoor saltwater pool, a fitness studio and multiple restaurants. The new property joins Wolff Co.’s portfolio of 19 seniors housing communities currently open or under construction.
REDMOND, ORE. — Redmond Development Ventures has completed the $1.5 million sale of a retail building in Redmond. Located at 3113 S. Highway 97, the property features 11,076 square feet of retail space. Robert Raimondi and Russell Huntamer of Compass Commercial Real Estate Services represented the seller in the deal. The name of the buyer was not released.
BEND, ORE. — Compass Commercial Real Estate Services has arranged the sale of Deschutes Business Center, an office property located at 20332-20370 Empire Ave. in Bend. An undisclosed buyer acquired the property for $6.1 million. Situated on 5.7 acres, the 54,508-square-foot property was built in 1981 and consists of 39 suites spread across five buildings. At the time of sale, the property was 95 percent leased. Robert Raimondi, Russell Huntamer and John Keba of Compass Commercial Asset & Property Management represented the seller, while Gardner Williams, Peter May and Dan Kemp of Compass Commercial Real Estate Services represented the buyer in the deal. Additionally, Paul Weaver, also of Compass Commercial, assisted in representing both parties in the transaction.
PORTLAND, ORE. — A joint venture between Unico Properties, a subsidiary of Unico Investment Group, and American Realty Advisors has purchased MODA Tower, a skyline office tower in Portland’s central business district, for an undisclosed price. Located at 601 SW Second Ave., the 24-story building features 398,412 square feet of Class A office space. At the time of sale, the property was 90 percent leased. The building features an on-site daycare facility, gourmet coffee and food service, bike storage, direct access to the MAX light rail transit system, exterior terraces and unobstructed views of Mt. Hood and the Willamette River. Jason Flynn of Eastdil Secured represented the undisclosed seller in the deal.
PORTLAND, ORE. — CBRE has brokered the sale of Airport Way Corporate Park, an industrial park located at 12021 NE Airport Way, 12067 and 12055 NE Glenn Widing in Portland. An undisclosed buyer acquired the property from Airport Way LLC for $22.2 million. Constructed between 1992 and 2008, the 140,693-square-foot property comprises three buildings featuring full sprinkler systems, dock-high and grade-level loading, abundant parking, above-standard parking and high visibility from Airport Way. At the time of sale, the park was 95 percent leased to 15 tenants. Cara Nolan of CBRE’s Portland office and Barbara Emmons of CBRE National Partners represented the seller in the deal.
GRESHAM, ORE. — Portland, Ore.-based Harsch Investment Properties has purchased Gresham Station Shopping Center in Gresham, a suburb of Portland, for $64.5 million. Situated on 26 acres, the property features 342,000 square feet of retail space. Tenants include Bed, Bath & Beyond, Cost Plus World Market, Old Navy, Best Buy, ULTA Beauty and 43 other retailers. Additionally, the property is located close to major freeways and Tri-Met Blue Line Max stops, as well as an adjacent Trimet Park and Ride service for neighborhood commuters. Nicolas Bicardo of Newmark Knight Frank’s San Francisco office represented the undisclosed seller in the transaction. Harsch Investments Properties currently operates 18 shopping centers.
PORTLAND, ORE. — KeyBank Real Estate Capital has arranged a $63.2 million Freddie Mac first mortgage loan for the acquisition of Courtyard at Mt. Tabor, a seniors housing community in Portland. The borrower and buyer is Strategic Student & Senior Housing Trust, a non-traded REIT sponsored by SmartStop Asset Management. Built between 1992 and 2009, the community is comprised of two three-story buildings on 7 acres of land. The property features 201 independent living units, 73 assisted living units and 12 memory care units. The borrower plans to expand the community to include an additional 23 memory care units. Charlie Shoop of KeyBank’s Commercial Mortgage Group secured the non-recourse, fixed-rate financing with a 10-year term, four-year interest-only period and 30-year amortization schedule.
TEMPE, ARIZ., AND CORVALLIS, ORE. — Providence, R.I.-based Gilbane Development Co. has announced the launch of two new developments in Arizona and Oregon as part of five recently announced projects across the United States. The five properties total over 3,500 beds, with project costs valued at more than $400 million. In Tempe, Ariz., Gilbane is developing Alor, a three-building, purpose-built student housing and market-rate/workforce housing property. Situated 1,000 feet from Arizona State University’s Tempe campus, the property will feature 946 student beds and 64 units of market-rate/workforce apartments, as well as 12,000 square feet of retail space and a structured parking garage. On-site amenities will include a rooftop swimming pool; courtyard swimming pool; 25,000-square-foot rooftop amenity deck and sky lounge; 6,000-square-foot open-air fitness center with cardio, full weights and a fitness/yoga center; outdoor courtyards with fire pits and cabanas; spa; central clubhouse; 24-hour study lounges; game rooms; and a computer lab. Adjacent to the southeast corner of Oregon State University’s campus in Corvallis, Ore., Gilbane’s Sierra will feature 228 student housing units, a heated pool, clubhouse, fitness center, game room, group study rooms, structured parking, garage and three courtyards. Additionally, the property is located a few blocks from downtown Corvallis. …