| Legacy Partners Completes New Res Project in Downtown Redmond, WA
The Triangle, a six-story, 195-unit apartment community in downtown Redmond, WA, has officially opened to the public. The residential project, a development of Legacy Parters, is located at 16450 Redmond Way.
Situated on a t...
| Decron Properties Enters Pacific Northwest Multifamily Market with 558-Unit Acquisition
In one of the largest multifamily transactions in Seattle this year, Decron Properties has acquired Avana 522, a 558-unit multifamily property in Bothell, WA, for $173 mil ($310k/unit). The transaction marks the Los Angeles-...
| Commercial Real Estate Financing Briefs
HFF - Greg Brown and AJ Manas with HFF arranged $26.65 mil in refinancing of a 19-property, 245-bed student housing portfolio near the campus of The University of Southern California (USC) in Los Angeles. The portfolio is loc...
| PCCP LLC and SteelWave Pickup Seattle-Area Biz Campus
A joint venture between PCCP LLC and SteelWave has acquired Canyon Park Business Center, a 17-building, 632.6k sf property in Bothell, a city situated on Seattle’s Eastside. The property is 99% occupied and consists of 13 Cla...
| Security Properties Pays $84 Mil for OR Res Community
Arbor Creek, a 440-unit, garden-style apartment community in Beaverton, OR, sold for $84.3 mil, or $191.6k/unit. The property, situated on 22 acres at 3280 SW 170th Ave, was acquired by Security Properties.
Arbor Creek is a...
| Sterling Realty Organization Buys 100k sf WA Office Building
Bellevue-based Sterling Realty Organization purchased Redmond Technology Center, a 101.7k sf, Class A office building in Redmond, WA. The five-story property, located at 18300 Redmond Way, was sold by Transwestern Investment ...
| SENTRE Buys 64k sf Mixed-Use Asset in Southeast Portland
SENTRE has acquired a 64k sf residential and retail mixed-use property in Portland’s Southeast neighborhood for $28.75 mil, or $250k per unit (93 total units), net of retail. The firm plans to invest $1 mil in contemporary in...
| Black Creek Group Finishing Up on 1.3 msf of Industrial Developments in the Seattle Area
Denver-based Black Creek Group has two new industrial development projects in the Seattle-area submarket of Tacoma/Fife submarket. The projects, one of which was just completed while the other is underway, are comprised of th...
| Talon Private Capital Spends $14.5 Mil on Seattle Industrial Asset
A 75k sf, single-tenant industrial building in Seattle was purchased for $14.5 mil ($193/sf) by Talon Private Capital, a locally owned company that specializes in the investment and management of commercial real estate. The p...
| Fields Holdings Secures $64 Mil Loan for Construction of WA Student Housing Project
Fields Holdings LLC has obtained $64 mil in construction financing for “The M,” a luxury 24-story off-campus student housing development near the University of Washington (UW) in Seattle. The loan was arranged by Quantum Capi...
| WA Community Center Trades in $38 Mil Transaction
Triangle Center, a 260.6k sf community center in Longview, WA, was acquired by a private investor for $38.3 mil, or $147/sf. The asset was sold by Highlands REIT, a Chicago-based investment trust.
Built in 2004, Triangle Cen...
| Portland Office Market Benefitting from Strong Economic Fundamentals
Strong economic fundamentals, such as near historical low unemployment rates, continue to drive development of the fast growing Portland office market, according to the latest research from real estate services firm Kidder Ma...
| Seattle Retail Property Trades for $19 Mil as a Development Opportunity
A 53.4k sf building in Seattle’s retail central business district has sold for $19 mil, or $356/sf. The property, located at 1518 Fifth Ave, is currently occupied partially by Banana Republic in addition to a vacant former ho...
| Seattle Multifamily Property Trades in $97 Mil Transaction
A venture between RISE Properties Trust (“RISE”) a Canadian-based real estate trust, and Tokyu Land US Corporation (“Tokyu”), a vertically-integrated real estate development and investment company, has purchased Alaire Apartm...
| Portland Industrial Campus Sells for Over $22 Mil
Airport Way Corporate Park, a 140.7k sf, Class A industrial park in Portland, OR, sold for $22.25 mil ($158/sf). Constructed in 1992-2008, the property features full sprinkler systems, dock high and grade level loading, abund...
| American Realty Advisors and Unico Properties LLC Buy Portland Office Building
A joint venture between American Realty Advisors and Unico Properties LLC has acquired MODA Tower, a 398.4k sf office tower in downtown Portland, OR. The price was not disclosed.
The Class A property, centrally located at 60...
| Brickman Real Estate Spends $35 Mil on Two Historic Office Buildings in Seattle
The Broderick Building and MiKen Building, two historic Seattle office buildings totaling 86.3k sf, have sold for $35.05 mil ($406/sf). The buyer was Brickman Real Estate, a New York-based real estate investor and operator wi...
| Lytle Enterprises Spends $15.7 Mil on WA Commercial Property
Lytle Enterprises has acquired GE Healthcare Building, a 53.6k sf, two-story office and technology production facility in Issaquah, WA, for $15.7 mil ($293/sf). The property, located at 1040 12th Avenue NW, was sold by Redsto...
| Pinnacle International Spends $145 Mil for Bellevue Central Business District Gateway Development Site
Canada-based Pinnacle International paid $145 mil for the Bellevue Central Business District Gateway Development Site, an 11.13-acre land parcel for development of a trophy, mixed-use project in Bellevue, WA. The site is a cr...
| Local Investment Entity Buys 75-Unit Portland Apartment Complex
The Wilmore, a five-story apartment building that houses 75 units in Portland’s North Williams neighborhood, was acquired by MSL Vancouver Oregon Investments. Built in 2016, the complex contains 50.7k sf of residential living...