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Commercial Real Estate Financing Briefs 2/25/22 JLL - Charles Halladay and Rick Salinas at JLL arranged a $60.3 mil mortgage loan to finance SB Real Estate Partners’ and Marble Partners’ acquisition of Bridge Creek Apartments in Vancouver, WA. The 270-unit multifamily prop...
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Commercial Financing Briefs 2/22/22 CBRE CAPITAL MARKETS - Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance arranged an $80.5 mil loan for the refinancing of 224 Logistics Park, an industrial facility in Milwaukie, OR. The loan was funded th...
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SB Real Estate Partners and Marble Partners Buy 270-Unit WA Res Property 2/15/22 SB Real Estate Partners and Marble Partners acquired Bridge Creek Apartments, a 270-unit multifamily property in Vancouver, WA. The garden-style property is located at 9211 NE 14th Ave, 13 miles north of Portland.
Bridge Cre...
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Kennedy Wilson and Goldman Sachs Asset Management Close $106 Mil Apartment Buy in Seattle 2/03/22 Coppins Well, a 236-unit, high-rise apartment community in Seattle, was acquired by Kennedy Wilson and Goldman Sachs Asset Management for $106.5 mil ($451k/unit), excluding closing costs. Completed in 2012, the 17-story build...
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SB Real Estate Partners Spends $75 Mil on 270-Unit Res Community in the Portland Area 2/03/22 SB Real Estate Partners (“SBREP”) has acquired Bridge Creek Apartments, a 270-unit, garden-style multifamily community in the Portland, OR submarket of Vancouver, WA, for $75 mil ($278k/unit). The property will be rebranded a...
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Cypress Equity Investments Completes Construction of 186-Unit Tacoma Res Community 1/27/22 Cypress Equity Investments (CEI) has completed construction of Hailey, a 186-unit apartment community in the heart of Tacoma. Located at 1210 Tacoma Avenue S at 13th St, Hailey offers a mix of studio, one-bedroom and two-bedr...
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RISE Properties Trust Obtains $55 Mil for Purchase and Renovation of Downtown Portland Apartment Property 1/24/22 RISE Properties Trust has secured a $55 mil senior loan for the acquisition and renovation of 10th & Hoyt, a 178-unit, apartment building with 13.1k sf of ground floor commercial space in Portland. The building is located at ...
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Westcore Purchases OR Industrial Building in $54 Mil Deal 1/24/22 Westcore has acquired Halsey Business Park, a 405k sf industrial facility in the Portland metropolitan area of Gresham, OR for $54.1 mil ($134k/sf). The property was sold by New York-based DRA Advisors.
Just minutes away f...
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Oregon Apartment Community Trades to FPA Multifamily in $47 Mil Deal 1/18/22 Summit at Hyland Park, a 137-unit, value-add, garden-style multi-housing community located in Beaverton, OR, sold for $47 mil, or $343k/unit. FPA Multifamily acquired the asset from DB Capital Management.
Built in 1985, reno...
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MIG Real Estate Buys Seattle Area Res Community and Sells Two Others in Dallas 1/17/22 MIG Real Estate LLC has acquired BluWater, a 152-apartment community in Everett, WA. The deal had a value of over $54 mil ($355.3k/unit).
Located at 11311 19th Ave SE in the north Seattle area, BluWater consists of seven thr...
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On Inc Leases Additional 29k sf of Office Space in Portland 1/13/22 On Inc has agreed to a 28.8k sf expansion lease at Tanner Point in Portland. The running shoe and apparel brand will now occupy 57.4k sf across the fourth and fifth floors of the eight-story Class A office property, which ser...
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Kennedy Wilson Teams Up with Local Developer in Bend, OR in Land Buy for Mixed-Use Project 1/11/22 Kennedy Wilson has entered into a joint venture with Matt Day, owner of Bend-based Hooker Creek Companies, to acquire and develop a vacant 21-acre site in the heart of Bend, OR. The joint venture intends to develop the site i...
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Falling Vacancies and Shrinking Inventories Driving Portland’s Industrial Rental Rates Upward 1/04/22 Portland Industrial CRE Market Update – 4th Qtr. 2021
This report was provided by real estate services firm Kidder Mathews
Market Drivers
• Asking lease rates rose 4.4% year-over-year (YOY) from $0.69/SF NNN in 2020 to $0....
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Multifamily Property in Seattle’s Ballard Neighborhood Trades in $53 Mil Deal 1/04/22 Keelson Ballard, a 106-unit apartment building in Seattle’s Ballard neighborhood, sold for $53.6 mil, or $505.7k per unit. The property, located at 1537 NW 56th St, was sold by Seattle-based FA Johnson Development and Pryde D...
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Jackson Square Properties Buys 216-Unit WA Multifamily Property 12/31/21 San Francisco-based Jackson Square Properties has acquired Ambrose, a 216-unit apartment property in Bremerton, WA. The property was sold by an affiliate of The Wolff Company.
The garden-style property, located at 4520 Bay V...
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Hudson Pacific Properties Closes on $119 Mil Seattle Office Buy 12/27/21 Hudson Pacific Properties Inc has purchased a leasehold interest in 5th & Bell, a 197k sf office building in Seattle, for $119 mil, or $602/sf. The property’s office component, which comprises approximately 192k sf, is fully ...
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Kennedy Wilson Entity Pays $121 Mil for OR Res Community 12/27/21 Kennedy Wilson Fund VI (“Fund VI”), a commingled Western U.S. value-add fund managed by Kennedy Wilson, has acquired Arbor Heights, a 348-unit, garden-style apartment community in Tigard, OR, for $121 mil ($347.7k/unit).
Bu...
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Kamiak Pays $8 Mil for Development Parcel in Seattle 12/21/21 A 22.9k sf land parcel located in north Seattle’s Fremont neighborhood sold to real estate firm Kamiak for $8 mil. The parcel is being considered for future mixed-use multifamily development.
The property is located at 4318...
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Security Properties Buys Newly Constructed WA Res Community from The Wolff Company 12/20/21 Security Properties purchased 207 East, a newly constructed, 288-unit apartment community in Edgewood, WA, from The Wolff Company. The price was not immediately given out.
Built in 2020, 207 East consists of one-, two- and t...
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Principal Real Estate Investors Buys 195k sf OR Industrial Facility 12/15/21 Principal Real Estate Investors has acquired a just-completed, 195.5k sf industrial building in Hillsboro, OR. The facility was developed by Trammell Crow Company (TCC) and is fully leased to Hitachi High-Tech America Inc. Th...
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