Oregon

Berkeley Point Capital Provides $250.5M Loan for Acquisition of Multifamily Portfolio in Western Region

by Kristin Harlow April 7, 2017

WASHINGTON, OREGON, COLORADO AND ARIZONA — Berkeley Point Capital has provided a $250.5 million loan for the acquisition of a multifamily portfolio located in the western United States. Starwood Capital Group acquired the portfolio from Holland Partners. Built between 1985 and 2002, the portfolio comprises 2,136 units across 11 properties in Washington, Oregon, Colorado and Arizona. Berkeley Point Capital used Freddie Mac’s Adjustable-Rate Mortgages (ARM) product to provide the 10-year loan. Due to rent levels at the properties, 25 percent of the loan balance qualified as affordable and exempt from Freddie Mac’s production cap. Charlie Haggard and Kevin Mignogna of Berkeley Point Capital arranged the financing. Berkeley Point Capital, based in Bethesda, Md., provides financing for multifamily properties, with a portfolio of $55 billion representing 3,600 loans in 49 states. Greenwich, Conn.-based Starwood Capital Group is a private investment firm with $52 billion of assets under management. —Kristin Hiller

April 7, 2017

Office Oregon Western

American Bank Building in Portland Trades for $53M

by Nellie Day April 6, 2017

PORTLAND, ORE. — ScanlanKemperBard Cos. (SKB) has sold the historic American Bank Building in Portland’s central business district for $53 million. The 15-story creative office building is located at 621 S.W. Morrison St. The American Bank Building was built in 1914.The property was 61 percent leased to tenants like Wells Fargo and The Department of Justice. HFF’s Nick Kucha represented SKB in the transaction. The firm also recapitalized the property with Lionstone Investments, arranging a four-year, floating-rate loan through CIT Bank for the new partnership. The amount of the financing was not disclosed.

April 6, 2017

Industrial Oregon Western

Staples Rents 263,413 SF at Interstate Crossroads Distribution Center in Portland

by Nellie Day March 28, 2017

PORTLAND, ORE. — Staples has leased 263,413 square feet of industrial space at Interstate Crossroads Distribution Center (ICDC) in Portland. The center is situated in the Portland’s Airport Way industrial submarket at 16441 N.E. Cameron Blvd. Interstate Crossroads LLC (a partnership between Specht affiliates and Pacific Coast Capital Partners LLC) developed the warehouse and distribution center in 2015. Specht Properties manages the asset. Staples will use the facility for the warehousing and distribution of consumer goods. Paul Breuer and Jerry Matson of the Portland office of Colliers International represented ICDC.

March 28, 2017

Oregon Retail Western

JLL Negotiates Sale of 821,564 SF Shopping Center in Springfield

by Nellie Day March 20, 2017

SPRINGFIELD, ORE. — JLL has arranged the sale of Shoppes at Gateway, an 821,564-square-foot shopping center in Springfield, for an undisclosed price. Target, Walmart Neighborhood Market, Cabela’s, Kohl’s, Cinemark and Sears anchor the center, which is also home to tenants including Marshalls, Ross Dress for Less, Petco, Ulta Beauty, Hobby Lobby and Ashley Furniture. David Monahan and Geoff Tranchina of JLL represented the seller, Rouse Properties LLC, in the disposition of the property to an affiliate of Balboa Retail Partners.

March 20, 2017

Loans Multifamily Oregon Seniors Housing Western

Lancaster Pollard Arranges $5.3M Fannie Mae Financing for Assisted Living Community Near Portland

by Nellie Day March 20, 2017

MILWAUKIE, ORE. — Lancaster Pollard has arranged a $5.3 million Fannie Mae loan for BPM Senior Living. The loan provides capital for Royalton Place, a 70-unit assisted living and memory care community in the Portland suburb of Milwaukie. BPM purchased Royalton Place in 2005 and adjusted the acuity mix in late 2014. The financing is part of the owner’s plan to replace the existing third-party operator, instead taking over management of the community itself. Matt Lindsay led the transaction for Lancaster Pollard, aided by Doug Harper.

March 20, 2017

Multifamily Oregon Seniors Housing Western

NHI Acquires 102-Unit Assisted Living Community in Portland for $26.2M

by Nellie Day March 17, 2017

PORTLAND, ORE. — National Health Investors Inc. (NYSE: NHI) has acquired a 102-unit assisted living and memory care community in Portland for $26.2 million. The seller was Prestige Senior Living, which will continue to operate the property. The name of the community was not disclosed. The facility was added to the existing Prestige master lease with NHI that includes three skilled nursing facilities and one assisted living facility. The lease has a remaining term of 12 years. NHI funded the acquisition using its revolving credit facility. Based in Tennessee, NHI is a publicly traded REIT focused on sale-leaseback, joint-venture, mortgage and mezzanine financing of seniors housing and medical investments.

March 17, 2017

Office Oregon Western

Moovel Relocates Headquarters to Old Town Portland

by Nellie Day March 13, 2017

PORTLAND, ORE. — Moovel has relocated its North American headquarters from downtown Portland to the Historic Overland Building in Old Town. The mobility solutions provider has leased 17,176 square feet within the building, located at 213 N.W. 4th Ave. The property was originally built as a warehouse in 1889. CBRE’s Ajay Malhotra and Kristin Hammond represented Moovel. The landlord is Urban Development Partners.

March 13, 2017

Loans Office Oregon Western

LPC Realty Advisors Receives $98.5M Loan for Acquisition of Pacwest Center in Portland

by Nellie Day March 8, 2017

PORTLAND, ORE. — LPC Realty Advisors has received a $98.5 million acquisition loan for the 30-story Pacwest Center in Portland. The 525,000-square-foot office tower is located at 1211 SW 5th Ave. LPC intends to significantly renovate the tower by modernizing the common spaces, the main lobby and shared amenities. PacWest Center is 76 percent leased to tenants like Merrill Lynch, Markowitz Herbold, Schwabe, Key Bank of Oregon and Perkins & Co. HFF’s Tom Wilson and Erica Christensen arranged the five-year, fixed-rate acquisition loan. A national insurance company provided the capital. LPC worked on behalf of a pension fund client. HFF also handled the property’s $170 million sale on behalf of the sellers, Ashforth Co. and an institutional investor.

March 8, 2017

Loans Multifamily Oregon Seniors Housing Western

CBRE Arranges $72.5M Acquisition Financing for Five-Property Seniors Housing Portfolio in Pacific Northwest

by Nellie Day February 27, 2017

SALEM, ORE. — CBRE has arranged $72.5 million in financing for the acquisition of The Bonaventure Portfolio, five independent living and assisted living communities throughout the states of Washington and Oregon. NorthStar Healthcare Income, a non-traded REIT, acquired the portfolio, which totals 453 units. Based in Salem, Ore., Bonaventure is a family of companies that develops and operates seniors housing properties in the West. The company operates 24 properties in three states. Aron Will and Matthew Whitlock, both of CBRE National Senior Housing, arranged the 10-year, fixed-rate loan with 24 months interest-only payments through its Fannie Mae DUS Multifamily loan origination program.

February 27, 2017

Oregon Retail Western

NAI Elliott Negotiates $16.3 Million Sale of Martinazzi Square in Tualatin

by Nellie Day February 27, 2017

TUALATIN, ORE. — NAI Elliott has arranged the $16.3 million sale of Martinazzi Square, a 51,060-square-foot shopping center located in Tualatin. Joe Sandahl of NAI represented the seller, Martinazzi Square LLC, in the disposition of the property to CH Retail/Acquisitions LLC. The property is home to tenants including Starbucks Coffee, Nothing Bundt Cakes and H&R Block.

February 27, 2017

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