EVERETT, WA–Marcus & Millichap has sold of Shoreside Village, a 119-unit multifamily community located on Beverly Lake in Everett, WA. The $15.35-million sales price equates to just under $129,000 per unit. “Professionally managed and well-maintained over the past decade, the property provides new ownership with both a turn-key asset and one that offers opportunities to enhance value,” says Rich Walker, vice president investments in Marcus & Millichap's Seattle office. “Rental competition in the immediate neighborhood is relatively low as there are only two other conventional market-rate apartment communities on Beverly Lake.”

REDMOND, WA—MainStreet Property Group LLC has opened The Carter on The Park, a new six-story apartment community in the heart of downtown Redmond. Named after renowned local Redmond artist and wood carver Dudley Carter, MainStreet Property Group's new building is located at 7508 159^th Place NE across from Dudley Carter Park, adjacent to the Sammamish River Trail and a 4.6-acre preserved urban forest, and within walking distance to downtown Redmond retail shops and restaurants. The Carter features 180-apartment homes including ground floor live/work units.

Below is GlobeSt.com's bi-weekly update on the middle markets throughout the North West region. Here's a look at the latest news, announcements and deals that you may have missed from areas including: Alaska, Washington, Oregon, Idaho, and Northern California.

NEWS & NOTABLES

SEATTLE—JLL significantly bolstered its agency leasing capabilities in Seattle with the acquisition of Urbis Partners, a highly regarded woman-owned commercial real estate company. The acquisition is consistent with the firm's overall growth strategy to become a leading real estate services provider in Seattle and will complement the March 2016 acquisition of Washington Partners' Seattle office. Effective immediately, Urbis Partners owners and Principals Lisa Stewart and Cleita Harvey, along with Principal Jim Allison, are joining JLL as Managing Directors. However, Stewart's additional leadership responsibilities will include oversight of the Puget Sound agency leasing group, which is comprised of 11 professionals.

DEALTRACKER

GRESHAM, OR—Stephen Whitehead, managing director of NorthMarq Capital's Dallas-based regional office, arranged the $48 million refinance of Lumina Apartments, a 440-unit multifamily property located at 2700 Powell Street in Gresham, OR. The transaction was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through the Fannie Mae's Green Rewards platform. The subject, constructed in 1990, was able to qualify for the Green Rewards through the borrower's commitment to installing low-flow toilets over the next 12 months in order to achieve 20% water consumption savings and escrowing for these improvements.

PORTLAND, OR—American Realty Advisors along with its joint-venture partner, Unico Properties LLC, a real estate investment and operating company, has acquired Congress Center, a 23-story high-rise office tower in Portland. The property is strategically located along the primary mass-transit corridor in the heart of Portland's central business district.

EVERETT, WA–Marcus & Millichap has sold of Shoreside Village, a 119-unit multifamily community located on Beverly Lake in Everett, WA. The $15.35-million sales price equates to just under $129,000 per unit. “Professionally managed and well-maintained over the past decade, the property provides new ownership with both a turn-key asset and one that offers opportunities to enhance value,” says Rich Walker, vice president investments in Marcus & Millichap's Seattle office. “Rental competition in the immediate neighborhood is relatively low as there are only two other conventional market-rate apartment communities on Beverly Lake.”

REDMOND, WA—MainStreet Property Group LLC has opened The Carter on The Park, a new six-story apartment community in the heart of downtown Redmond. Named after renowned local Redmond artist and wood carver Dudley Carter, MainStreet Property Group's new building is located at 7508 159^th Place NE across from Dudley Carter Park, adjacent to the Sammamish River Trail and a 4.6-acre preserved urban forest, and within walking distance to downtown Redmond retail shops and restaurants. The Carter features 180-apartment homes including ground floor live/work units.