Oregon

Berkeley Point Capital Closes $3.1M Freddie Mac Loan for Memory Care Community in Oregon

by Nellie Day April 1, 2016

TIGARD, ORE. — Berkeley Point Capital has provided a $3.1 million Freddie Mac supplemental loan to Frontier Management LLC. The money will be used for strategic growth and property improvements at Washington Gardens Memory Care, a 48-unit memory care community in the Portland suburb of Tigard. The community opened in 2011. Frontier Management LLC manages 83 seniors housing properties serving more than 4,000 residents across the United States. The company is based in Portland. Doug Harper, director of seniors housing, and Casey Moore, director, led the Berkeley Point team. Harper operates out of the Columbus, Ohio, office while Harper works from the Boston office.

April 1, 2016

Industrial Oregon Western

Industrial Property in Woodburn Sells for $3.2M

by Nellie Day March 30, 2016

WOODBURN, ORE. — Bradley C. Shepard, Stanley V. Shepard and Growing Investments LLC has purchased a 52,524-square-foot industrial property in Woodburn for $3.2 million. The property is located at 2257 Progress Way. The building is fully leased to Columbia Helicopters. The purchase includes an additional 5.6 acres of industrial-zoned land for future development. Thomas McDowell and Raymond Duchek of Norris & Stevens represented the buyers. Peter Stalick, Steven Klein and Jeff Kiersey of Kidder Mathews represented the seller, Mercer Holdings, in this transaction.

March 30, 2016

Loans Office Oregon Western

George Smith Partners Arranges $19.9M Loan for Under Armour Office Build-to-Suit in Downtown Portland

by Nellie Day March 28, 2016

PORTLAND, ORE. — George Smith Partners has arranged a $19.9 million bridge loan for the construction of a build-to-suit creative office campus in downtown Portland for sportswear supplier Under Armour. The 68,698-square-foot, special-purpose, single-tenant building formerly housed the local YMCA. It will be transformed into a 108,698-square-foot campus environment. Under Armour signed a 15-year lease at the property. The borrower and landlord were not disclosed. Malcolm Davies, Kyle Henrickson and Teddy Stutz of George Smith Partners secured the financing.

March 28, 2016

Multifamily Oregon Western

Park Place Apartments in Eugene Sells for $4.2M

by Nellie Day March 23, 2016

EUGENE, ORE. — Park Place Eugene LLC has purchased the 24-unit Park Place Apartments in Eugene for $4.2 million. The community is located at 877 E. Park St. It is situated less than two miles from the University of Oregon campus.

March 23, 2016

Multifamily Oregon Western

Russellville Commons Apartments in Portland Sells for $57.8M

by Nellie Day March 16, 2016

PORTLAND, ORE. — MG Properties Group (MGPG) has acquired the 283-unit Russellville Commons Apartments in Portland for $57.8 million. The community is located at 10320 S.E. Pine St., within the Gateway District. Russellville was built in 1999. This is MGPG’s seventh acquisition in the past year. MGPG is currently targeting much of the West, including Arizona, California, Colorado, Nevada, Oregon and Washington. Cody Hagerman and Tyler Johnson of HFO Investment Real Estate represented the seller, the Reliant Group, in this transaction. Joe Briganti at PNC Real Estate arranged a 10-year, fixed-rate mortgage for the transaction.

March 16, 2016

Multifamily Oregon Western

Berkshire Group Buys Lower Burnside Lofts in Portland for $18.5M

by Nellie Day February 24, 2016

PORTLAND, ORE. — Berkshire Group has purchased the 63-unit Lower Burnside Lofts in Portland for $18.5 million. The community is located at 60 SE 10th Ave., within the Lower Burnside neighborhood. Lower Burnside Lofts was built last year and began leasing in July 2015. Robert Black of ARA Newmark represented the seller, Urban Asset Advisors, in this transaction.

February 24, 2016

Loans Mixed-Use Oregon Western

TMT Development Receives $130M in Financing for Park Avenue West Mixed-Use Tower in Portland

by Nellie Day February 17, 2016

PORTLAND, ORE. — TMT Development has received $130 million in permanent financing for Park Avenue West, a 391,795-square-foot, mixed-use tower in downtown Portland. The tower is located at SW Park Avenue and SW 9th Avenue. The development is situated one block west of Pioneer Square, directly across from Nordstrom in the city’s Central Business District. The tower sits atop a six-story subgrade parking garage. Park Avenue West will contain 24,233 square feet of first- and second-floor retail; 202 residential units on Floors 3 through 17; and 193,914 square feet of Class A office space on Floors 18 through 30. The office component is 92 percent leased to tenants like Stoel Rives, Washington Trust Bank, Morgan Stanley and Charles Schwab. TMT Development is developing the project. HFF’s Casey Davidson worked on behalf of the firm to secure the 20-year, fixed-rate, non-recourse loan through MetLife. Loan proceeds will be used to pay off an existing construction loan.

February 17, 2016

Multifamily Oregon Seniors Housing Western

Radiant Buys 44-Unit Seniors Housing Community in Oregon for $6M

by Nellie Day February 8, 2016

WOODBURN, ORE. — Radiant Senior Living, a Portland-based seniors housing owner/operator, has purchased Emerald Gardens of Woodburn, a 44-unit assisted living and memory care facility approximately 30 miles south of Portland, for $6 million. Built in 1987, the community was renovated in 2013 to add 12 units of secured memory care. Shep Roylance and James Duffy of JCH Senior Housing Group arranged the transaction. The seller was not disclosed.

February 8, 2016

Hospitality Oregon Western

Edgecliff Motel in Oregon Changes Hands

by Nellie Day January 28, 2016

LINCOLN CITY, ORE. — The 54-room Edgecliff Motel in Lincoln City has sold to an unnamed buyer for $1.6 million. The hotel is located at 3733 Highway 101. It overlooks the Pacific Ocean, and is about one mile south of the Tanger Outlet Mall. The hotel will undergo a $1 million remodel. Joseph P. Kennedy of Crystal Investment Property represented the seller in this transaction.

January 28, 2016

Industrial Oregon Western

Keystone Automotive Industries Leases 230,000 SF in Portland

by Nellie Day January 12, 2016

PORTLAND, ORE. — Keystone Automotive Industries has leased 230,000 square feet at Interstate Crossroads Distribution Center in Portland. The space is located at NE 166th Avenue and NE Cameron Boulevard. The owner, Interstate Crossroads LLP, is a joint venture between real estate finance and investment management firm PCCP LLC and project developer Specht Development. David Ellis and Don Ossey of Capacity Commercial Group/CORFAC International represented the joint venture in the deal.

January 12, 2016

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