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Seattle Development Site Goes for $13 Mil 12/14/21 A two-parcel, 22k sf development site in Seattle’s University District sold for $13 mil. Formerly home to a Walgreens and its parking lot, the two-parcel site located at 1205 NE 50th Street and 4751 Brooklyn Street benefits f...
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RISE Properties Trust Spends $75 Mil on Portland Apartment Community 12/13/21 Canada-based RISE Properties Trust paid $75 mil for 10th @ Hoyt, a 178-unit ($421.3k/unit) multifamily community in Portland’s Pearl District. The property was sold by San Francisco Bay Area-based Prometheus Real Estate Group...
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MG Properties Group Closes on $54 Mil OR Apartment Acquisition 12/02/21 MG Properties Group purchased Maddox Apartments, a 210-unit multifamily property in the Bridgeton neighborhood of North Portland, for $54 mil ($257k/unit). The acquisition, consisting of two newly combined and rebranded commu...
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New Res Development in Seattle Lands $42 Mil Refi Loan 12/02/21 Plus Capital Partners LLC has obtained a $42.63 mil refi loan on Shoresmith Apartments, a new, 113-unit res development in Seattle. The project, located at 1170 Republican St, also includes 1.3k sf of ground floor retail spac...
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Seattle Apartment Building Trades for $7.3 Mil 12/01/21 The Marco, a 25-unit apartment building in the Roosevelt submarket of North Seattle, was acquired by a local syndication group for $7.28 mil ($291.2k/unit). The Marco is located at 9100 Roosevelt Way NE, in close proximity to...
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Realterm Buys New 274k sf Industrial Asset in Tacoma, WA 11/30/21 Tacoma Gateway II, a new, 274k sf industrial development in Tacoma, WA, was acquired by Realterm. The property was sold by a partnership between Panattoni Development Company and a private real estate fund advised by Crow Hol...
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Seattle Apartment Community Sells for $120 Mil 11/29/21 Panorama House, a 179-unit apartment community in Seattle, sold for $120 mil ($670.4k/unit). The property was 99% leased at the time of sale.
Located at 1100 University St, Panorama House is an 18-story community offering a...
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Recently Completed Portland Mixed-Use Project Lands $100 Mil Refi 11/18/21 The Green Cities Company and American Realty Advisors have secured $100 mil in first mortgage debt to refinance 5 MLK, a recently completed mixed-use development in Portland, OR. The new loan was provided by Mesa West Capital...
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Bellevue, WA Office Asset Fetches $400/sf 11/12/21 Bellevue Terrace, a 72.2k sf, Class A office building in Bellevue, WA, traded hands for $29.4 mil, or $406/sf. The property, located at 3633 136th Place SE, was sold by Swift Real Estate Partners.
Bellevue Terrace is a three...
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Guardian Real Estate Services to Develop 234-Unit Res Project Outside of Portland 11/12/21 A Guardian Real Estate Services affiliate will develop Monroe Apartments, a 234-unit apartment community located five miles south of downtown Portland in Milwaukie, OR. The Class A, multifamily project will be situated on 7....
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DHIJ Management Acquires OR Apartment Property in $44 Mil Deal 11/09/21 DHIJ Management acquired Misty Ridge, a 103-unit, garden-style multi-housing community in Happy Valley, OR, in the Portland MSA, for $44 mil ($427.2k/unit).
Misty Ridge comprises one-, two- and three-bedroom units averaging...
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Carmel Partners Buys 101-Unit Res Property in San Jose 11/08/21 A Carmel Partners affiliate purchased One38 Apartments, a 101-unit apartment community adjacent to the San Jose Convention Center. Built in 2019, the property sits on 1.5 acres at 138 Balbach St in the city’s downtown. The ac...
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MIG Real Estate Buys 238-Unit Apartment Property in Seattle 11/04/21 MIG Real Estate bought Solara, a 238-unit multifamily community in North Seattle, in an $84 mil transaction that works out to $353k/unit. The asset was sold by Sares Regis Multifamily Funds, a multifamily value-add investment...
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Commercial Financing Briefs 11/02/21 CBRE - Bill Chiles, Scott Peterson and Morgon Fraser of CBRE’s debt and structured finance arranged a $47.6 mil loan for the construction of Geo Queen Anne, a 168-unit multifamily community in Seattle, on behalf of the owner ...
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SPI Hospitality Buys Washington Hotel Portfolio for $88 Mil 11/02/21 A five-property, 596-room, extended-stay hotel portfolio in the state of Washington was acquired by SPI Hospitality LLC, out of Dallas, for $88 mil ($147.7k/room). The five Woodspring Suites properties are in Redmond, Tukwil...
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Glencrest Group Spends Over $23 Mil on 112 Res Units in the Vancouver Area of Washington 10/28/21 Glencrest Group acquired two value-add, garden-style multi-housing communities totaling 112 units in the Vancouver suburb of Battle Ground, WA. The assets were sold by a private investor for $23.15 mil, or $206.7k/unit.
The...
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Invesco and Lincoln Property Group Buy New Seattle Office Building 10/26/21 Invesco and Lincoln Property Group have acquired Cascadian, a newly constructed, 211k sf project in the Eastlake Corridor of Seattle’s South Lake Union area. The nine-story office building was delivered to market in August 20...
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Two-Property Hotel Portfolio in the Pacific Northwest Trades 10/25/21 A two-hotel portfolio located in Portland, OR and Vancouver, WA traded hands. The portfolio totals 209 keys and consists of the Homewood Suites Vancouver-Portland in Vancouver, Washington (104 keys) and the Homewood Suites Po...
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Multifamily Community in Spokane Valley, WA Purchased by Next Wave Investors 10/20/21 Park Place Apartments, a 65-unit community in the Spokane submarket of Spokane Valley, WA, was acquired by Next Wave Investors in an off-market transaction. The price was not given out.
Built in 1977, Park Place is located a...
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FPA Multifamily Buys 98-Unit OR Res Community for $30 Mil 10/19/21 FPA Multifamily acquired Hidden Village, a 98-unit, garden-style multi-housing community in West Linn, OR, for $30.25 mil ($308.7k/unit). The property was sold by Guardian Real Estate Services LLC.
Hidden Village comprises ...
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