EUGENE, ORE. — Green Leaf Riverwalk has acquired the 272-unit Riverwalk Apartments in Eugene for $43.1 million. The community is located at 470 Alexander Loop. BPM Real Estate Group developed Riverwalk Apartments. The complex was completed in 2015 and fully leased by 2016. The seller, Alexander Loop LLC, is owned by a partnership managed by Walter C. Bowen. HFO Investment Real Estate executed the transaction.
PORTLAND, ORE. — Commercial Income Advisors Inc. has arranged the $4.4 million sale of a single-tenant, triple-net-leased 7-Eleven located in Portland. John Halvorson of Commercial Income Advisors represented the Orange County-based buyer in the transaction, and arranged $1.3 million worth of acquisition financing for the purchase. The property was acquired through a 1031 exchange.
EUGENE, ORE. — Stephen Whitehead of NorthMarq Capital has arranged a $9.8 million refinancing of K14 Campus Flats, a 145-bed student housing property located near the University of Oregon. The development is located at 1414 Kincaid St. in Eugene. The transaction was structured with a 10-year term with two years interest-only payments, followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program.
HILLSBORO, ORE. — Majestic Realty Co. has broken ground on a 303,000-square-foot spec industrial warehouse in Hillsboro. The project will be situated at the southeast quadrant of Highway 26 and Brookwood Parkway, 18 miles west of Portland. It is scheduled for completion in the third quarter of 2016. The new development will be the third building at the Majestic Brookwood Business Park. It will neighbor a 200,000-square-foot ViaWest data center, which opened its first phase in September 2015, as well as a 65,000-square-foot Top Golf entertainment complex scheduled to open this June.
BEAVERTON, ORE. — Pacific Urban Residential has purchased the 137-unit Spyglass Hill apartment complex in Beaverton for $25.3 million. The community is located at 14305 S.W. Sexton Mountain Drive, just 11 miles southwest of downtown Portland. Spyglass Hill is 97.9 percent leased. It is situated near Nike and Intel. HFF’s Ira Virden represented the seller, Hamilton Zanze, in this transaction.
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.
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.
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.
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.
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.
