Washington

Lincoln Property Co. Opens Port of Vancouver Office, Retail Development in Southern Washington

by Kristin Harlow September 25, 2024

VANCOUVER, WASH. — Lincoln Property Co. (LPC) has opened Port of Vancouver USA Terminal 1, an office and retail development in southern Washington. The two-building complex is located in the city’s waterfront district and features 366,000 square feet of Class A office space, 12,000 square feet of ground-floor retail space and commercial amenities. The office component of the project will house the new global headquarters for ZoomInfo, an artificial intelligence platform provider based in Vancouver. Four years ago, the Port of Vancouver USA selected LPC to develop the site on port land along the Columbia River in one of two master-planned communities that are transforming the waterfront into a live-work-play neighborhood. The waterfront district is situated in the city’s urban core with convenient access to highways, public transit and Portland, Ore. The Terminal 1 development features 10- and nine-story buildings, a rooftop deck and 10,000 square feet of landscaped green spaces and outdoor seating that will be open to the public. Parking will be available on nights and weekends. The development team is also targeting LEED Gold certification. The 10-acre site is already home to an AC Hotel by Marriott, green open spaces, walking trails and bike paths. A public …

September 25, 2024

Acquisitions Multifamily Oregon Washington Western

Northmarq Brokers $14.3M Sale of Three-Property Manufactured Housing Portfolio in Pacific Northwest

by Amy Works September 24, 2024

ROSEBURG, ORE., AND WOODLAND, WASH. — Northmarq has brokered the sale of a three-property manufactured housing portfolio in Oregon and Washington for $14.3 million. Jeff Benson and Sam Neumark of Northmarq represented the undisclosed seller and buyer on both transactions. Vancouver, Canada-based Harmony Communities acquired Western Star Mobile Home Community, a property at 101 Lad Lane in Roseburg that features 117 pads and 46 storage units. The asset was developed in 1973. Hurst and Son LLC purchased the 96-space Woodland properties — Oaks Mobile at 38308 Lakeshore Drive and Woodlands Mobile Home Community (MHC) at 3910 NW Pacific Highway. Woodlands MHC offers a clubhouse, library and waterfront along the Lewis River.

September 24, 2024

Loans Multifamily Washington Western

Washington Holdings Obtains $43.5M Loan for Refinancing of Multifamily Community in Redmond, Washington

by Amy Works September 23, 2024

REDMOND, WASH. — Washington Holdings has received $43.5 million in refinancing for The Carter on the Park, a six-story apartment property in downtown Redmond. Bruce Ganong and Seth Heikkila of JLL Capital Markets Debt Advisory arranged the loan through PGIM Real Estate on behalf of the borrower. Located at 7508 159th Place NE, The Carter on the Park offers 180 one- and two-bedroom apartments with keyless entry, high-end finishes, stainless steel appliances, fiber internet, high-quality LTV hardwood-like flooring and private patios. Community amenities include a fitness center, rooftop deck, tech bar, two-story bike storage facility, coworking spaces and an interior courtyard with fire pits, grilling stations and ping pong. The 216,220-square-foot property was built in 2016.

September 23, 2024

Acquisitions Life Sciences Washington Western

Alexandria Real Estate Equities Sells Life Sciences Facility in Seattle to Fred Hutch Cancer Center for $150M

by Amy Works September 17, 2024

SEATTLE — Alexandria Real Estate Equities, through an affiliate, has completed the sale of 1165 Eastlake Avenue East in Seattle’s Lake Union submarket to long-standing tenant Fred Hutch Cancer Center for $150 million. Alexandria developed and delivered the 100,086-square-foot, single-tenant, Class A life sciences building in 2021. Proceeds from the disposition of 1165 Eastlake will be reinvested into Alexandria’s leased development and redevelopment pipeline, which consists of research-and-development centers for top life sciences companies, including Bristol Myers Squibb and Novo Nordisk. As part of the transaction, Alexandria, through an affiliate, entered into a strategic joint venture partnership with Fred Hutch for nearby 1201 and 1208 Eastlake Avenue East, aggregating 206,031 rentable square feet, through a transfer of partial interests from the prior joint venture partner to Fred Hutch. Alexandria’s ownership interest in each 1201 and 1208 Eastlake remains unchanged at 30 percent. Fred Hutch executed early renewals at both properties, including a 15-year lease extension at 1201 Eastlake, where it occupies the entire building. These two life sciences facilities support the cancer center in its efforts to translate cancer and infectious disease discoveries into treatments and cures.

September 17, 2024

Industrial Loans Multifamily Office Retail Washington Western

Gantry Secures $34.3M in Loans Across Four Seattle Region Assets

by Amy Works September 17, 2024

SEATTLE — Gantry has secured a total of $34.3 million of loans to refinance four Seattle-area assets owned by different and unaffiliated entities. Each transaction was placed with one of Gantry’s life company correspondent lenders and each structure provided the borrowers with non-recourse, fixed-rate loans. Mike Wood of Gantry represented three of the borrowers. The financings included:

September 17, 2024

Acquisitions Multifamily Washington Western

CBRE Facilitates Sale of 186-Unit CentrePointe Greens Apartment Community in Everett, Washington

by Amy Works September 13, 2024

EVERETT, WASH. — CBRE has arranged the sale of CentrePointe Green, a multifamily property in Everett. Terms of the transaction were not released. Eli Hanacek, Mark Washington and Kyle Yamamoto of CBRE represented the undisclosed seller in the deal. Located about 28 miles north of Seattle at 8600 18th Ave. W, CentrePointe Greens offers 186 one-, two- and three-bedroom apartments averaging 835 square feet in size. Community amenities include a renovated fitness center, clubhouse, an indoor pool and spa, a playground and a dog park. The property was built in 1990.

September 13, 2024

Acquisitions Multifamily Seniors Housing Washington Western

American Healthcare REIT Acquires Four Seniors Housing Communities in Washington State

by Amy Works September 12, 2024

BATTLE GROUND, PORT ORCHARD AND WENATCHEE, WASH. — Cogir Management USA Inc. and American Healthcare REIT (AHR) have expanded their relationship to 14 communities with AHR’s acquisition of four communities in the state of Washington. AHR acquired Mallard Landing in Battle Ground, Orchard Pointe in Port Orchard and Blossom Valley and Blossom Creek in Wenatchee. This portfolio includes a total of 207 assisted living and memory care units. With this acquisition, Cogir now operates communities in Washington, California, Utah and North Carolina for AHR. Cogir also now manages 22 communities in Washington and 84 communities across the United States.

September 12, 2024

Acquisitions Multifamily Washington Western

CBRE Facilitates Sale of 202-Unit Heronfield Apartments in Kirkland, Washington

by Amy Works September 11, 2024

KIRKLAND, WASH. — CBRE has brokered the sale of Heronfield, a multifamily community located at 11105 N.E. 123rd Lane in Kirkland. Terms of the transaction were not released. Eli Hanacek, Mark Washington and Kyle Yamamoto of CBRE represented the undisclosed seller in the transaction. Situated about 16 miles northeast of Seattle, Heronfield offers 202 one-, two- and three-bedroom apartment, averaging 939 square feet in size. The units feature spacious floor plans with large windows, and many of the units have been renovated with new plank flooring, wood burning fireplaces and updated kitchens with quartz countertops. Community amenities include an indoor/outdoor pool, a clubhouse, 24-hour fitness center and playground. Additionally, the asset is adjacent to 28 acres of preserved natural land.

September 11, 2024

Development Loans Multifamily Washington Western

Cushman & Wakefield Arranges $25.3M Construction Loan for Saltese Creek Multifamily Project in Spokane, Washington

by Amy Works September 9, 2024

SPOKANE, WASH. — Cushman & Wakefield has secured $25.3 million in construction financing on behalf of Hawkins and its partners for the development of Saltese Creek, an apartment property in Spokane. Chris Moyer, Paul Roeter and Meredith Donovan of Cushman & Wakefield arranged the financing through Bok Financial on behalf of the borrower. Situated just south of the intersection of S. Tschirley Road and E. 6th Avenue, Saltese Creek will feature 192 one-, two- and three-bedroom apartments spread across six mid-rise, garden-style residential buildings. The community will also offer a 4,128-square-foot clubhouse with a fitness center, dog wash, indoor/outdoor lounge, barbecue areas and a swimming pool.

September 9, 2024

Loans Multifamily Seniors Housing Washington Western

Ziegler Arranges $13.3M Financing for Bayview Retirement Community in Seattle

by Amy Works September 9, 2024

SEATTLE — Ziegler has arranged $13.3 million in bond financing for Bayview Retirement Community in Seattle. The Washington State Housing Finance Commission issued the bonds. Bayview Manor Homes, which owns and operates Bayview Retirement Community, is a Washington nonprofit corporation and 501(c)(3) organization that was established in 1961 to care for the elderly residents of Seattle’s Queen Anne neighborhood and beyond. The community features 133 independent living apartments and 44 assisted living apartments, which includes 10 memory care units. Bayview also operates an intergenerational childcare center located at the community for up to 42 children. The proceeds of the Series 2024 Bonds, together with other available funds of the corporation, will be used to pay or reimburse costs incurred by Bayview in connection with the installation of new exterior windows across the majority of the community, as well as to make improvements to unit balconies, fund predevelopment costs of a future project and undertake routine capital improvements as determined by management.

September 9, 2024

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