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• Downtown Seattle Development Parcel Trades for $17.5 Mil
8/25/22
A 0.61-acre site in downtown Seattle’s Belltown neighborhood was acquired by an unnamed buyer for $17.5 mil. The 26.6k sf parcel, located at 2700 1st Ave, is zoned for residential development up to 267 units.
The zoning allo...
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• Norpoint Communities Refinances Four Age-Restricted Res Properties in the Puget Sound Region
8/24/22
Norpoint Communities has landed $71.45 mil in separate permanent financings to refinance four 55-Plus age-restricted, active adult multifamily properties in the Puget Sound region. The financing was arranged by Gantry.
The p...
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• SecureSpace Self Storage Buys 11-Property Portfolio Totaling 6,550 Units
8/22/22
In a national self-storage buy, SecureSpace Self Storage acquired an 11-property, best-in-class self-storage portfolio totaling 6,550 units in three high-performing real estate markets: the San Francisco Bay Area; Portland, O...
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• Private Investor Exchanges into $45 Mil Seattle Area Retail Buy
8/18/22
Lynnwood Crossroads, a 103.1k sf, dominant grocery-anchored shopping center in the Seattle suburb of Lynnwood, WA, traded in a $45 mil ($436/sf) deal. The buyer was Sakioka Farms, a privately held, high-net-worth family offi...
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• Portland Res Community Lands $75 Mil Refi
8/17/22
Heirloom, a 286-unit, Class A garden-style multifamily community located at 7900 SE Luther Rd in Portland, has been refinanced with a new senior loan provided by PCCP LLC for $75.5 mil. Developed by NBP Capital, the newly del...
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• Greystar Completes Trio of Housing Projects in Seattle
8/16/22
Greystar has completed three urban rental residences totaling 838 units centrally located in the city of Seattle. The projects first began construction between 2019 and 2020, striving to ease the local market’s housing demand...
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• MIG Real Estate Buys 104-Unit WA Community for $53 Mil
8/11/22
MIG Real Estate LLC has purchased the 104-unit Cedar Rim Apartments in Newcastle, WA for $52.9 mil, or $509k/unit. MIG is planning to enhance the exterior and common areas of the property.
Cedar Rim is located at 7920 110th ...
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• Four-Building Distribution Project in the Seattle Area to Get Underway
8/11/22
Construction is about to get underway on four brand-new warehouse/distribution buildings that will bring over 2.3 msf of Class A supply to the Greater Seattle area. The project, FRED310, is being developed by a joint venture ...
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• Security Properties Picks Up 168-Unit OR Multifamily Property for $49.5 Mil
8/10/22
Seattle-based Security Properties has acquired Sienna Pointe Apartments, a 168-unit multifamily community in Bend, OR, for $49.5 mil ($295k/unit). The acquisition was financed with a loan for $31.4 mil.
Built in 1991, the ga...
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• Pulte Homes Buys Four-Acre Res Development Site in Bellevue, WA
8/10/22
Pulte Homes of Washington Inc purchased a 4.11-acre, transit-oriented development site located in the heart of the BelRed Corridor in Bellevue, WA for $26.05 mil. The property, located at 1723 127th Avenue NE, was sold by Umb...
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• Construction Underway on 246-Unit Sustainably-Designed Res Community in Washington
8/05/22
Construction on Ninebark, a 246-unit sustainably designed apartment home community nestled between Camas and Washougal, WA, in Clark County is underway. The project is a development of Killian Pacific.
The design and constru...
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• LBA Logistics Acquires 590k sf Distribution Complex in Portland
8/04/22
LBA Logistics purchased Marine Drive Distribution Center, a 590.1k sf, four-building distribution center in Portland. The property was sold by Clarion Partners.
Marine Drive Distribution Center is comprised of one single-ten...
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• Vesta Hospitality Pays $58 mil for Fee Simple and Leasehold Interests in Oregon Resort Property
8/03/22
In a notable hospitality buy out of the Pacific Northwest, Vancouver, WA-based Vesta Hospitality acquired the fee simple and leasehold interests in the Surfsand Resort, an irreplaceable and iconic beachfront resort located in...
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• MIG Real Estate Picks Up 104 Res Units in Washington
8/01/22
MIG Real Estate has purchased Cedar Rim, a 104-unit apartment community in Newcastle, WA. Although we don’t have the sales price, we can tell you that the deal was financed with a loan for $23.6 mil.
Located at 7920 110th Av...
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• Two Multifamily Properties in Seattle’s University District Generate a Combined Price of $33 Mil
7/27/22
Campus Apartments and University Manor, two apartment buildings totaling 119 units in Seattle’s highly desirable University District, sold for a price tag of $33 mil ($277.3k/unit) in an off-market transaction.
Campus Apartm...
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• Seattle Mixed-Use Development Secures Joint Venture Equity and $196 Mil in Construction Money
7/26/22
A development partnership made up of Touchstone, a Seattle developer, and Portman Holdings of Atlanta, has obtained joint venture equity and $196.2 mil in construction financing for Chapter Buildings I and II in Seattle. The ...
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• Lift Partners Acquires Two Industrial Buildings in Kent, WA for $106 Mil
7/25/22
Lift Partners acquired two industrial buildings totaling 382k sf in Kent, WA for $106.1 mil ($278/sf) in an off-market deal. The warehousing facilities were sold by Holman Logistics.
As part of the deal, Holman will execute ...
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• RISE Properties Trust and Tokyu Land US Corporation Pick Up 252-Unit Seattle Res Property
7/21/22
In a recent Seattle multifamily buy, RISE Properties Trust and Tokyu Land US Corporation have purchased Park South Apartments, a 252-unit complex in the city’s South Park neighborhood. The price was not given out.
Located at...
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• Redmond, WA Dev Parcel Goes for $35 Mil
7/19/22
A 100k sf land parcel in downtown Redmond, WA was sold in a deal worth $35 mil. The rectangular parcel, located at 16135 NE 85th St, near the geographic center of downtown Redmond, is fully entitled for development into 425 r...
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• Commercial Financing Briefs
7/14/22
GANTRY - Mark Ritchie, Mike Wood and Alex Saunders with Gantry secured a $35.45 mil, fixed-rate, permanent loan to refinance a single tenant, five-story, 200k sf office building located at 1601 Lind Ave SW in the Seattle subu...
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