Western

Buchanan Street Partners Sells 160-Unit Ascent in Cottonwood Apartments Near Salt Lake City

by Amy Works October 12, 2020

COTTONWOOD HEIGHTS, UTAH — Buchanan Street Partners has completed the sale of Ascent in Cottonwood, a multifamily property located at 1151 E. 6720 S in Cottonwood Heights. Warmington Properties acquired the community for an undisclosed price. Built in 1996, the property features 160 apartments, a swimming pool with poolside pergola, outside television, bocce ball court and dog park. Danny Shin, Brock Zylstra, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the transaction.

October 12, 2020

Data Centers Development Industrial Oregon Western

Stack Infrastructure Breaks Ground on 28-Acre Data Center Campus in Hillsboro, Oregon

by Amy Works October 12, 2020

HILLSBORO, ORE. — Denver-based Stack Infrastructure has broken ground on POR03, its newest data center campus in Hillsboro. Located at 4735 NE Starr Blvd., the 28-acre campus will feature a 180,000-square-foot facility offering 24 megawatts (MW), slated for delivery in third-quarter 2021. The new data center is located less than a quarter mile from a new 34.5 kilovolt (kV) substation, with power supplied by Portland General Electric. It is located on the Wave Business Hillsboro Data Center Ring, which offers high-count fiber connectivity and transpacific subsea cable access. The planned four-building campus will offer a total capacity of 84 MW at complete build out. Stack currently operates to other data center facilities in the Hillsboro region with a total of 28.8 MW that includes 3 MW of immediately available capacity, along with a neighboring build-to-suit campus with 12 MW of potential capacity. At full build out, Stack’s capacity in Hillsboro will total more than 125 MW.

October 12, 2020

Acquisitions Colorado Net Lease Retail Western

Taylor Street Brokers $7.8M Acquisition of Animal Clinic in Parker, Colorado

by Amy Works October 12, 2020

PARKER, COLO. — Taylor Street Advisors has arranged the purchase of Animal Emergency & Specialty Center, located at 17701 Cottonwood Drive in Parker. Woodridge Apartment Holdings acquired the single-tenant property from Veterinary Property Management for $7.8 million. Compassion-First Pet Hospitals occupies the 19,338-square-foot building with more than 10 years remaining on its triple-net lease. The building sits on a 69,696-square-foot lot. Jake Baratz and Boston Chauthani of Taylor Street Advisors represented the buyer, while Andrew Evans of Mathews Real Estate Investment Services represented the seller in the deal.

October 12, 2020

Acquisitions California Industrial Western

Dovetail Furniture Acquires Industrial Warehouse Property in Los Angeles for $7.2M

by Amy Works October 12, 2020

LOS ANGELES — Dovetail Furniture & Designs has purchased a warehouse asset located at 14150 S. Figueroa St. in Los Angeles. AJ Wholesale sold the asset for $7.2 million. With its corporate headquarters located next door at 14000 S. Figueroa St., Dovetail plans to use the 41,723-square-foot building for warehouse and distribution space. The company sells handmade furniture, accessories and textiles from around the world. Matthew Stringfellow, Courtney Bell and Tyler Rollema of The Klabin Company/CORFAC International represented the buyer, while the seller was self-represented in the transaction.

October 12, 2020

Loans Mixed-Use Multifamily Oregon Seniors Housing Western

Pacific Western Bank Provides $60M Construction Financing for Student Housing Development Near University of Oregon

by Amy Works October 9, 2020

EUGENE, ORE. — Pacific Western Bank has provided $60 million in construction financing for Union on Broadway, a mixed-use student housing development located at 476 E. Broadway St. near the University of Oregon in Eugene. Charles Halladay, Jordan Angel, Chris Ross, Teddy Leatherman, Stewart Hayes and Taylor Gimian of JLL worked on behalf of the borrowers, Greystar and Star America, to secure the loan. The 338,130-square-foot community will offer 608 beds in fully furnished units with bed-to-bath parity. Shared amenities will include ground floor retail space, a fitness center, study lounges on every floor, courtyards, conference rooms, activity and game rooms and an outdoor rooftop with a pool, fire pits and grills. A timeline for the development was not announced.

October 9, 2020

Colorado Development Multifamily Student Housing Western

University of Colorado Denver Tops Out 555-Bed Residence Hall

by Amy Works October 9, 2020

DENVER — The University of Colorado Denver has celebrated the topping out of its City Heights Residence Hall and Learning Commons development. The 182,000-square-foot residence hall — which will be the university’s first on-campus student housing complex — will offer 555 beds upon completion. The seven-story project is designed for first-year students and will feature two wings of residential units, a central campus dining hall on the ground floor and a 30,000-square-foot student services center. Named “The Learning Commons,” the student services center will also offer academic support and tutoring, faculty development programs and an expanded space to support online education. The development is scheduled for completion in August 2021 and is pursuing a LEED Gold certification. The project is being delivered by a design-build team that includes general contractor JE Dunn and Stantec. Stantec is providing architecture, landscape architecture, interior design, lighting and sustainability services on the development.

October 9, 2020

California Development Loans Office Western

JLL Secures $48.7M in Construction Financing for Creative Office Project in Los Angeles

by Amy Works October 9, 2020

LOS ANGELES — JLL Capital Markets has arranged $48.7 million in construction financing for Exposition 3, a creative office property located in Los Angeles’ West Adams submarket. Paul Brindley, Jeff Sause and Spencer Richley of JLL secured the three-year, floating-rate loan through HIG Realty Partners on behalf of the borrower, The Luzzatto Co. Slated for delivery in 2022, Exposition 3 is fully preleased on a long-term basis to an undisclosed company for use as its new headquarters. The property previously served as an industrial property, and Luzzatto is renovating the asset into a two-building, 94,082-square-foot creative office space.

October 9, 2020

Acquisitions California Multifamily Western

JCM Partners Sells Camden Parc Apartments in Vacaville, California for $58M

by Amy Works October 9, 2020

VACAVILLE, CALIF. — JCM Partners has sold Camden Parc Apartments, a multifamily property located on Aegean Way in Vacaville. Camden Parc Residential LLC acquired the community from JCM for $58 million, or $250,000 per unit. Situated on 15 acres, Camden Parc Apartments features 232 apartments in a mix of one-, two- and three-bedroom layouts spread across 24 two-story buildings. JCM completed interior and exterior renovations to Camden Parc in 2019. Steven Nelson and Dusty Haeling of Marcus & Millichap represented the seller and procured the buyer in the deal.

October 9, 2020

California Loans Office Western

PSRS Arranges $7.1M in Refinancing for Office Park in Westlake Village, California

by Amy Works October 9, 2020

WESTLAKE VILLAGE, CALIF. — PSRS has arranged $7.1 million in refinancing for Promenade Office Park, a multi-tenant office building located in Westlake Village. The building features 74,000 square feet of office space. Grady Seldin of PSRS secured the financing through a life insurance company for the undisclosed borrower.

October 9, 2020

Development Multifamily Student Housing Washington Western

Greystar to Break Ground on $145M Student Housing Community Near University of Washington

by Amy Works October 8, 2020

SEATTLE — Greystar is set to break ground on Lakeview Student Residences, a $145 million student housing community located in Seattle’s U District near the University of Washington. The Charleston, S.C.-based developer recently purchased a five-parcel assemblage of existing apartment buildings located at NE 42nd St. and 12th Ave. NE for the development for $17 million. Dan Chhan, Tim McKay and Sam Wayne of Colliers International represented Greystar and the undisclosed seller in the transaction. “This is a core location with high-rise zoning, just three blocks from the University of Washington and one block from the new light rail station opening in 2021,” says Wayne. “Despite some current headwinds facing student housing due to COVID-19, this area is poised for outsized future growth as institutional investors develop new residential and office towers and the University of Washington continues its expansion.” The 21-story, 226-unit community is slated for completion in fall 2022. Lakeview’s amenities are set to include a rock-climbing wall and rooftop decks with designated study areas and entertainment space. Charles Halladay, Jordan Angel, Chris Ross, Teddy Leatherman, Stewart Hayes and Taylor Gimian of JLL worked on behalf of the developer to secure construction financing for the project through Pacific …

October 8, 2020

Newer Posts

Older Posts