Friday, July 17, 2026
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955-Overland-Ct-San-Dimas-CA
AcquisitionsCaliforniaOfficeWestern

Taiwan-based HCT Logistics Co. Buys 87,210 SF Office Asset in Southern California for $19.9M

by Amy Works

SAN DIMAS, CALIF. — HCT Logistics Co., a Taiwan-based logistics and investment company, has purchased an office building located at 955 Overland Court in San Dimas. 955 Overland Venture LLC sold the asset for $19.9 million. Totaling 87,210 square feet, the two-story property was fully leased at the time of sale. Current tenants include the County of Los Angeles, United Nurses of California and Med-Legal. Mark Shaffer, Anthony DeLorenzo, Gary Stache, Doug Mack, Mark Perry and Carlene O’Neil of CBRE represented the seller in the all-cash transaction.

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IndustrialLoansOfficeOregonWestern

Ready Capital Funds $13.8M Loan for Flex Property in Portland, Oregon

by Amy Works

PORTLAND, ORE. — Ready Capital has provided a $13.8 million loan for the acquisition, repositioning and lease-up of a flex property located in Portland’s Central East Side submarket. The undisclosed sponsor plans to use loan proceeds to convert the current industrial buildings into modern creative office spaces. The transformation will include connecting the building via a modernized tenant entry and common area, complemented by a new elevator system. Additionally, the repositioning will include rooftop access, improved common areas, updated exteriors and additional parking. Upon completion, the asset will offer approximately 57,000 square feet of office space. Ready Capital’s National Bridge Originations Team closed the non-recourse, interest-only, floating-rate loan. The financing features a 36-month term with two extension options and flexible prepayment, while including a facility to provide future funding for capital expenditures, tenant leasing costs and an interest reserve.

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Alma-Elliot-Square-Chandler-AZ
AcquisitionsArizonaRetailWestern

Newmark Knight Frank Brokers $9.6M Sale of Alma Elliot Square Shopping Center in Metro Phoenix

by Amy Works

CHANDLER, ARIZ. — Newmark Knight Frank has negotiated the sale of Alma Elliot Square, a shopping center in Chandler. TriGate Capital sold the asset to Orange County, Calif.-based Investment Concepts for $9.6 million. At the time of sale, the 62,164-square-foot asset was 62 percent leased to a mix of national and regional tenants, including Starbucks Coffee, O’Reilly Auto Parts, AT&T, Great Clips and Pizza Hut. Fry’s Food and Drug and IHOP also shadow-anchor the property. CJ Osbrink, David Guido, Joe Doucett, Joseph Hoye and Ryan Moroney of Newmark Knight Frank represented the seller in the deal.

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The-Grove-at-Orenco-Station-Hillsboro-OR
LoansMultifamilyOregonWestern

KeyBank Arranges $50M Acquisition Financing for 264-Unit Apartment Complex in Oregon

by Amy Works

HILLSBORO, ORE. — KeyBank Real Estate Capital has secured $50 million in Fannie Mae financing for San Francisco-based Jackson Square Properties for the acquisition of The Grove at Orenco Station, a 264-unit multifamily property located 6710 NE Vinings Way in Hillsboro. Built in 1998 and renovated in 2014, the apartment complex comprises 12 three-story apartment buildings, a single-story clubhouse and a leasing office building. The property recently underwent a $3.2 million renovation that started in 2015 and was completed in 2018. Paul Angle of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged the financing for the acquisition.

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Hilton-San-Diego-Resort-Spa-San-Diego-CA
CaliforniaDevelopmentHospitalityWestern

Noble House Completes $21M Renovation at Hilton San Diego Resort & Spa

by Amy Works

SAN DIEGO — Noble House Hotels and Resorts, a hotel ownership and management group, has completed a $21 million renovation of the Hilton San Diego Resort & Spa, located at 1775 E. Mission Bay Drive in San Diego. Overlooking Mission Bay, the resort features 357 rooms and suites, an American cuisine restaurant, poolside lounge, waterfront dining, fitness center and full-service spa. The comprehensive renovation encompassed all guestrooms, the hotel’s conference center, executive board rooms, common areas and lobbies. Additionally, the hotel features new paint, flooring, lighting, finishes, wall treatments, technology and furniture. JLL’s Project and Development Services group managed the renovation on behalf of Pebblebrook Hotel Trust, the property owner.

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LoansMultifamilyUtahWestern

Rockworth Cos. Receives Construction Financing for 214-Unit MillPond Apartments in Utah

by Amy Works

AMERICAN FORK, UTAH — Rockworth Cos. has received an undisclosed amount of construction financing for development of The MillPond Apartments, a multifamily property located in American Fork, a suburb 30 miles south of Salt Lake City. JLL, led by Mike White, arranged the high-stacked, three-year, limited-recourse construction loan for the borrower. Located at 80 N. 1020 West, the $44 million project will feature a 214-unit apartment community comprising 11 three-story buildings with wood-frame construction. Averaging 906 square feet, the one-, two- and three-bedroom units will feature patios or balconies, in-unit washers/dryers, nine-foot ceilings, oversized bathtubs, high-quality cabinetry and luxury wood-style flooring. Community amenities will include a clubhouse with a fitness center, business center, changing rooms, outdoor heated swimming pool with a sun deck, Whirlpool spa, fire pit, barbecue/picnic area, dog park and bike repair facility.

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Bridge-Point-Sumner-South-Sumner-WA
DevelopmentIndustrialWashingtonWestern

Bridge Development Partners Buys Land Site in Metro Seattle for Industrial Development

by Amy Works

SUMNER, WASH. — Bridge Development Partners has purchased a 3.8-acre land site at 3113 142nd Ave. East in Sumner, a suburb of Seattle, for an undisclosed price. The company plans to develop Bridge Point Sumner South, an industrial building, on the site. Slated for delivery in third-quarter 2020, Bridge Point Sumner South will feature 82,591 square feet of space, divisible down to 30,000 square feet; LED interior and exterior wall pack lighting; ESFR fire protection; 32-foot clear ceiling heights; two drive-in doors; 14 exterior docks; a 125-foot truck court; and parking for 63 cars. Thad Mallory, Taylor Huff, Cam Warren and Blake Bentz of Newmark Knight Frank brokered the deal for Bridge and will serve as leasing agents for the project.

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Hilton-Garden-Inn-Redmond-WA
AcquisitionsDevelopmentHospitalityWashingtonWestern

The Hotel Group to Manage Hilton Garden Inn Redmond Under Construction in Washington

by Amy Works

REDMOND, WASH. — The Hotel Group has added the Hilton Garden Inn Redmond, a hotel currently under construction in Redmond, to its management portfolio. Slated to open in first-quarter 2020, the hotel will be the company’s seventh Hilton-branded hotel in the Pacific Northwest. The six-story property will feature 177 guestrooms with Hilton Garden Inn’s signature bedding, in-room hospitality centers with Keurig Coffee and miniature refrigerators, guest laundry and complementary Wi-Fi. The hotel also features more than 2,400 square feet of flexible meeting space including outdoor areas, as well as Fork + Spoke, an on-site restaurant.

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DevelopmentMixed-UseTop StoriesWashingtonWestern

Alexandria Real Estate Equities to Develop 800,000 SF Mixed-Use Technology Campus in Seattle

by Kristin Harlow

SEATTLE — The City of Seattle has selected Alexandria Real Estate Equities Inc. (NYSE: ARE) to develop an approximately 800,000-square-foot mixed-use campus known as the Mercer Mega Block. The life sciences and technology-driven project will be built on the last large, undeveloped site — nearly three acres ­— in Seattle’s Lake Union submarket. Alexandria won the bid for the project by agreeing to pay $143.5 million for the land and to address homelessness, according to the Puget Sound Business Journal. The Seattle City Council approved the development plan on Monday night. The newspaper reports that total project costs could reach $305 million. Plans call for two 13-story office and laboratory towers as well as a 30,000-square-foot community center. Alexandria also intends to develop on-site affordable housing, a farm-to-table restaurant, ground-floor retail space and a pedestrian-only walkway on 8th Avenue surrounded by public spaces with outdoor seating. “We envision our Mercer Mega Block development as a mission-critical campus that can drive the cross-pollination of life science and technology, spur world-class innovations to improve the human condition and significantly enhance the surrounding neighborhood,” says Joel Marcus, executive chairman and founder of Alexandria. The company also says it has strong confidence in the …

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Legacy-Bungalows-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

ReNUE Properties Acquires 200-Unit Legacy Bungalows Multifamily Property in Phoenix for $26.1M

by Amy Works

PHOENIX — ReNUE Properties has purchased Legacy Bungalows, a multifamily asset located in Phoenix. Legacy Partners sold the community for $26.1 million, or $130,500 per unit. Completed in 2002, Legacy Bungalows features 200 apartments in a mix of one-, two- and three-bedroom layouts with at least nine-foot ceilings and an average unit size of 852 square feet. The property is situated on 6.4 acres and less than two miles from Chase Field and Talking Stick Resort Arena. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

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