CBRE Places $32.5M in Financing for Seattle South Lake Union Office Building

SEATTLE — CBRE, on behalf of Swift Real Estate Partners, has placed $32.5 million in financing for 425 Pontius, an office building located in Seattle’s South Lake Union neighborhood. The borrower acquired the property in March 2022.Swift Real Estate Partners will use the financing for the acquisition and renovation of the four-story, 75,000-square-foot office building. The property features four stories of office space, surface parking and two levels of underground parking. The building …

May 24, 2022Loans, Office, Washington, Western

MJW Investments Buys 56-Unit Apartment Building in Vancouver, Washington

VANCOUVER, WASH. — Los Angeles-based MJW Investments has acquired Avenue 66, a multifamily community in Vancouver, in an off-market transaction. The seller and sales price were not released.Built in 2016, the garden-style property features 56 apartments in a mix of one- and two-bedroom floor plans. The average unit size is 840 square feet. MJW Investments plans to make light improvements to unit interiors, clubhouse and other common areas.Affinity Property Management will oversee …

May 24, 2022Acquisitions, Multifamily, Washington, Western

EverWest Real Estate Investors Buys MUIR Apartments in Seattle for $54.5M

SEATTLE — Denver-based EverWest Real Estate Investors has purchased MUIR Apartments, a mixed-use multifamily property in downtown Seattle, for $54.5 million.Dylan Simon, Winslow Lee and Jerrid Anderson of the Simon and Anderson Team of Kidder Mathews’ Seattle office represented the undisclosed seller and sourced the buyer in the deal.Completed in 2019, MUIR Apartments features 130 apartments and a rooftop deck. The property takes its name from Camp Muir, a refuge on the ascent to …

May 19, 2022Acquisitions, Multifamily, Washington, Western

Barings, Schnitzer West Sell Madison Centre Office Tower in Seattle for $730M

SEATTLE — Barings and Schnitzer West LLC have sold Madison Centre, a 37-story office tower in downtown Seattle, for $730 million. The buyer was Boston Properties Inc. (NYSE: BXP).Completed in September 2017 and currently 93 percent leased, Madison Centre spans 760,971 rentable square feet and features 480 parking stalls. Amenities include a rooftop terrace, great room, conference center, boardroom, library and a fitness center operated by the Washington Athletic Club. Certified LEED …

May 18, 2022Acquisitions, Office, Top Stories, Washington, Western

Gantry Secures $130M Loan for Six-Property Trojan Storage Portfolio on the West Coast

CALIFORNIA, OREGON AND WASHINGTON — Gantry has arranged $130 million in permanent financing for a six-property, Trojan Storage-owned self-storage portfolio spread across California, Oregon and Washington. Totaling 600,000 square feet, the portfolio includes three newly completed, pre-stabilized facilities and three recently acquired facilities.Andy Bratt and Amit Tyagi of Gantry secured the financing for Trojan Storage. The loan features a 10-year term at a fixed rate and a significant …

May 17, 2022California, Industrial, Loans, Oregon, Self-Storage, Washington, Western

Lytle Enterprises Receives $15M in Financing for Seniors Housing Property in Everett, Washington

EVERETT, WASH. — Greystone has arranged $15 million in financing for Washington Oakes, a 152-unit seniors housing property in Everett, a northern suburb of Seattle.Tyler Armstrong of Greystone originated the transaction on behalf of Lytle Enterprises LLC.Washington Oakes features studio, one-, two- and three-bedroom units and offers independent living and assisted living services. Leisure Care LLC is the operator.A life insurance company provided the nonrecourse, fixed-rate loan, …

May 17, 2022Loans, Multifamily, Seniors Housing, Washington, Western

Crescit Capital Strategies Arranges $21.8M Acquisition Loan for 220,000 SF Retail Property in Marysville, Washington

MARYSVILLE, WASH. — Crescit Capital Strategies has closed a $21.8 million fixed-rate bridge loan for the acquisition of a shopping center located in Marysville. A private seller sold the asset to a private buyer for an undisclosed price.Crescit originated the four-year loan with a one-year extension option. The lender was not disclosed.The grocery-anchored property features 220,000 square feet of retail

May 17, 2022Loans, Retail, Washington, Western

JLL Arranges $60M in Construction Financing for Gridline Apartments in Seattle

SEATTLE — JLL Capital Markets has arranged $60 million in construction financing for Gridline Apartments, a multifamily property currently under construction in Seattle. SRM Development and its partners are the borrowers. An affiliate of an international real estate investment company provided the funds.Kaden Eichmeier and Steve Petrie of JLL Capital Markets arranged the financing for the borrower.Located at 1421 Harvard Ave., Gridline Apartments will feature 178

May 16, 2022Development, Loans, Multifamily, Washington, Western

Colliers Negotiates Sales of Two Industrial Properties Near Spokane Totaling $62M

CHENEY AND SPOKANE, WASH. — Colliers has brokered the sales of two industrial buildings for a total consideration of $62 million. Bill Condon and Matt McGregor of Colliers oversaw the two separate transactions.In the first deal, Bridge Investment Group acquired a 306,000-square-foot building located at 9212 W. Hallet Road in Cheney for $40.4 million. The Class A industrial facility was fully leased to a long-term, high-credit tenant at the time of sale.In the second deal, Dogwood …

May 13, 2022Acquisitions, Industrial, Washington, Western

IPA Brokers Sale of Bentley House Apartments in Issaquah, Washington

ISSAQUAH, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Bentley House, an apartment building in Issaquah. Terms of the transaction were not released.Built in 2009, apartments at Bentley House feature hardwood floors, stainless steel appliances, fireplaces and air conditioning. Community amenities include a rooftop deck, resident clubhouse, business center and fitness center.Philip Assouad and Giovani Napoli of IPA …

May 9, 2022Acquisitions, Multifamily, Washington, Western