Western

Life Sciences Innovation Districts Danvers quote

Part 2: How to Promote Collaboration, Efficiency in Life Sciences Innovation Districts Via Design

by Sarah Daniels May 31, 2023

In the biotech and pharmaceutical sectors, life sciences innovation districts have become hubs not only for research and development but also for cooperation and inspiration between cohorts. These districts, often called innovation districts, collect together companies, research institutions, supporting entities, housing and more. Innovation districts necessitate meticulous planning and design strategies to promote scientific inquiry and efficiency. “Municipalities, schools, corporations and organizations that have close ties to their state are piloting life sciences innovation district development, allowing them to group otherwise separated uses — work, recreation, living areas and more — together. When you pair these institutions and include innovative site and building programming in a single location, you move beyond disconnected projects and amenities to a united innovation district that can magnify benefits across organizations,” explains Dan Danvers, a landscape architect project manager with Bohler, a land development consulting and site design company. This article is the design-focused component of our two-part series on life sciences innovation districts. If you would like to read about the planning component of these complex developments, please read our first article here. Moving Life Sciences Innovation Districts Forward Innovation districts must keep pace with evolving technologies and research. Life sciences industries are continually progressing, …

May 31, 2023

Development Loans Multifamily Seniors Housing Utah Western

Joint Venture Receives $160M C-PACE Financing for Summit Vista CCRC in Taylorsville

by Jeff Shaw May 30, 2023

TAYLORSVILLE, UTAH — D.A. Davidson’s Special District Group, in partnership with Petros PACE Finance, has arranged $160 million in Commercial Property Assessed Clean Energy (C-PACE) financing for Summit Vista, Utah’s first life plan retirement community. Representing the largest C-PACE deal in history, according to the arrangers, the proceeds will be dedicated toward ongoing construction with a focus on enhancing the development’s energy efficiency, renewable energy and water efficiency. Owned in partnership with Gardner Group, Wasatch Group and Solamere Capital, Summit Vista offers a full continuum of care, including independent living, assisted living, memory care and comprehensive skilled nursing in conjunction with its affiliated healthcare campus. Upon full build-out, the community will feature nearly 1,600 units. Approximately 13 miles south of downtown Salt Lake City, Summit Vista is nestled in the fast-growing region of Taylorsville. It is centrally located near major transportation corridors, enabling connectivity to surrounding neighborhoods. C-PACE is a financing mechanism that allows property owners and developers to fund up to 100 percent of building retrofits and new construction to improve a building’s energy efficiency, renewable energy and water efficiency.

May 30, 2023

Affordable Housing Development Hawaii Multifamily Western

Waikoloa Vacation Rentals Plans 229-Unit Affordable Housing Community in Hawaii

by Jeff Shaw May 30, 2023

WAIKOLOA, HAWAII — Waikoloa Vacation Rentals has released plans for Ho’omalu at Waikoloa Beach Resort, a 229-unit affordable community in Waikoloa, located on the western portion of the “big island” of Hawaii. Ho’omalu at Waikoloa Beach will offer one-, two- and three-bedroom floor plans, as well as amenities such as a day care, pool, fitness center, barbeque area and community center. The community will be available to households earning between 30 and 100 percent of the area median income. The project is listed on the county of Hawaii’s website as being currently under development, and Waikoloa Vacation Rentals plans to break ground before the end of 2024.

May 30, 2023

Loans Multifamily Oregon Seniors Housing Western

CBRE Arranges $58M Refinancing for Two Seniors Housing Communities in Oregon

by Jeff Shaw May 30, 2023

LAKE OSWEGO AND WILSONVILLE, ORE. — CBRE National Senior Housing has arranged a $58 million refinancing for The Springs at Carman Oaks and The Springs at Wilsonville on behalf of The Springs Living (TSL). Nestled in the northwestern corner of Clackamas County, The Springs at Carman Oaks is situated in the affluent suburb of Lake Owego, while The Springs at Wilsonville is located in Wilsonville, approximately 17 miles south of downtown Portland. The communities combined offer 294 independent living, assisted living and memory care units. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing arranged the financing. The three-year loan features two years of interest-only payments. A syndication of two regional banks provided the capital. This financing represents the second time that CBRE has refinanced the portfolio over the past three years. TSL is headquartered in McMinnville and owns and operates 19 senior living communities across Oregon and Montana, with one additional community under construction.

May 30, 2023

Acquisitions California NAI Retail Western

NAI Brokers $6.7M Sale of Retail Center in Sylvia Square in Torrance, California

by Jeff Shaw May 30, 2023

TORRANCE, CALIF. — NAI Capital Commercial has brokered the $6.7 million sale of Sylvia Square, a retail strip center located in Torrance. Built in 1974, the property totals 15,234 square feet. Sheri Messerlian and David Shaby of NAI represented the seller, an entity doing business as Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, in the transaction.

May 30, 2023

Leasing Activity Nevada Retail Western

Three New Tenants Sign Leases at Lake Mead Crossing in Henderson, Nevada

by Jeff Shaw May 30, 2023

HENDERSON, NEV. — Three tenants have signed leases at Lake Mead Crossing, a retail center located in Henderson, a suburb of Las Vegas. Starbucks Coffee, Sprouts Farmers Market and Chick-fil-A will join the lineup at the property, which Target anchors. Other tenants at the center include Marshalls, Ulta Beauty, PetSmart, Ross Dress for Less, Hibbett Sports and Big Lots.

May 30, 2023

Colorado Loans Office Western

Crestone Partners Receives $66M Refinancing for Office Complex in Denver

by Jeff Shaw May 26, 2023

DENVER — Crestone Partners has received a $66 million refinancing for a 279,188-square-foot office property in Denver. The asset consists of two interconnected, Class A office towers in Denver’s LoDo submarket. The space is nearly 95 percent leased to 13 tenants. There is also 25,188 square feet of ground-floor retail space and a 467-space parking garage on the first and second floors. JLL’s Bob Flynn, Garth Tait, Dave Meares and Heidi McKernan represented the borrower and operator, Crestone Partners, to secure the five-year, fixed-rate loan through an international correspondent life insurance company.

May 26, 2023

California Development Hospitality Loans Western

JLL Arranges $36.8M Construction Financing for AC Hotel by Marriott in Pasadena, California

by Jeff Shaw May 26, 2023

PASADENA, CALIF. — JLL has arranged $36.8 million in construction financing for a 194-room AC Hotel by Marriott development in Pasadena. The six-story hotel will be situated in the Playhouse District. It will feature a rooftop lounge, Peloton fitness room, event space and AC Lounge. JLL’s Marc Schillinger and Matt Stewart represented the developer, Welcome Group Inc., to secure the three-year loan with two one-year extension options.

May 26, 2023

Acquisitions Arizona Industrial Western

Cohen Asset Management Buys Falcon Park 303 Industrial Asset in Glendale, California for $81.7M

by Jeff Shaw May 26, 2023

GLENDALE, ARIZ. — An affiliate of Cohen Asset Management has purchased Phase I of Falcon Park 303 in Glendale for $81.7 million. The 599,486-square-foot, Class A industrial building was built on a speculative basis in 2022 and is fully leased. It is part of a larger industrial campus totaling 925,504 square feet. The property is located at 15132 West Camelback Road. Will Strong, Kirk Kuller, Micki Strain and Molly Hunt with Cushman & Wakefield’s National Industrial Advisory Group – Mountain West team represented the seller, USCD.

May 26, 2023

Colorado Development Industrial Western

LaPour Partners to Build 359,800 SF Industrial Park in Broomfield, Colorado

by Jeff Shaw May 26, 2023

BROOMFIELD, COLO. — LaPour Partners has received governmental approval to build Arista 36, a 359,800-square-foot, Class A industrial park in Broomfield. The company plans to break ground in September for delivery in early 2025. The three-building project is situated on a nearly 30-acre site in the northwest section of the city. It will feature 48 electric vehicle charging stations; two tenant community gathering spaces with shade elements and plenty of seating; walking and bike trail tie-ins; and enclosed bike racks for bike-to-work capability. Stream Realty Partners’ Tyler Reed, Peter Beugg, Dominic DiOrio and Buzz Miller will handle leasing at the property.

May 26, 2023

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