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
SAN FRANCISCO—Julie Purnell has joined CBRE Hotels as managing director. Based in the firm's San Francisco office, Purnell will bolster the firm's advisory practice in the Northwest and Mountain regions. A widely recognized and accomplished industry veteran, Purnell has more than 25 years of experience in strategic planning, business development, acquisition and disposition due diligence, development, and asset management in the hotel sector. She will work closely with Chris Kraus, managing director and northwest and mountain advisory practice leader, CBRE Hotels.
DEALTRACKER
SEATTLE—Berkadia recently revealed the $60.7-million sale of Carroll's Creek Landing, a multifamily property in the Seattle suburb of Marysville, WA. Senior managing director Kenny Dudunakis and directors David Sorensen and Ben Johnson of Berkadia's Seattle office represented the seller, Maryland-based Gateway Trident LLC. The buyer was JRK Property Holdings. Built in 2002, Carroll's Creek Landing is located at 18111 25th Ave., affording convenient access to several nearby shopping centers. The property features two-, three- and four-bedroom apartments with dishwashers, patios and walk-in closets. Residents can also enjoy several community amenities, including a welcome center, a basketball half-court, a clubhouse with a fireside lounge and a barbeque and picnic area.
PORTLAND—CBRE Capital Markets has arranged the $56 million sale of Witham Hill Oaks Apartments, a 50-building apartment community in Corvallis, OR. Phil Oester, Joe Nydahl and Josh McDonald of CBRE Capital Markets' Multifamily team in the Pacific Northwest represented the seller, Witham Hill Oaks Apartments LLC. The largest apartment community in Corvallis, Witham Hill Oaks spans 24.5 acres and consists of 420 units, which were built in three phases in 1968 (220 single level units), 1977 (168 units) and 1998 (32 units). The property offers residents a mix of one-, two- and three-bedroom units with modern appliances and finishes. The community also includes a fitness center, clubhouse, basketball court, children's playgrounds, pool, spa, laundry facilities and covered parking.
PORTLAND—Holliday Fenoglio Fowler LP has closed the sale of Pearl West, a newly developed, 155,465-rentable-square-foot class A office tower in Portland, OR. HFF marketed the property on behalf of the seller, Walter C. Bowen's BPM Real Estate Investments LLC, and procured the buyer, LaSalle Investment Management. Completed in 2016, Pearl West is a LEED Gold-certified, mid-rise office tower that blends creative office suites with high-street retail. The property features 17,800-square-foot typical floorplates, parking for 150 vehicles, storage for 87 bicycles and tenant shower and locker facilities. Currently, 89% leased, Pearl West is home to tenants, including Wacom, Zoom+, Regus and Howard S. Wright.
PORTLAND—Holliday Fenoglio Fowler has recently closed the $28.5 million sale of Sixth at Yamill, a 109,725-square-foot, creative office building in Portland, OR. HFF marketed the property on behalf of the seller, Swift Real Estate Partners. KBSRA Sixth at Yam, LLC, a joint venture between True North and KBS, purchased the asset in an off-market transaction.
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
SAN FRANCISCO—Julie Purnell has joined CBRE Hotels as managing director. Based in the firm's San Francisco office, Purnell will bolster the firm's advisory practice in the Northwest and Mountain regions. A widely recognized and accomplished industry veteran, Purnell has more than 25 years of experience in strategic planning, business development, acquisition and disposition due diligence, development, and asset management in the hotel sector. She will work closely with Chris Kraus, managing director and northwest and mountain advisory practice leader, CBRE Hotels.
DEALTRACKER
SEATTLE—Berkadia recently revealed the $60.7-million sale of Carroll's Creek Landing, a multifamily property in the Seattle suburb of Marysville, WA. Senior managing director Kenny Dudunakis and directors David Sorensen and Ben Johnson of Berkadia's Seattle office represented the seller, Maryland-based Gateway Trident LLC. The buyer was JRK Property Holdings. Built in 2002, Carroll's Creek Landing is located at 18111 25th Ave., affording convenient access to several nearby shopping centers. The property features two-, three- and four-bedroom apartments with dishwashers, patios and walk-in closets. Residents can also enjoy several community amenities, including a welcome center, a basketball half-court, a clubhouse with a fireside lounge and a barbeque and picnic area.
PORTLAND—CBRE Capital Markets has arranged the $56 million sale of Witham Hill Oaks Apartments, a 50-building apartment community in Corvallis, OR. Phil Oester, Joe Nydahl and Josh McDonald of CBRE Capital Markets' Multifamily team in the Pacific Northwest represented the seller, Witham Hill Oaks Apartments LLC. The largest apartment community in Corvallis, Witham Hill Oaks spans 24.5 acres and consists of 420 units, which were built in three phases in 1968 (220 single level units), 1977 (168 units) and 1998 (32 units). The property offers residents a mix of one-, two- and three-bedroom units with modern appliances and finishes. The community also includes a fitness center, clubhouse, basketball court, children's playgrounds, pool, spa, laundry facilities and covered parking.
PORTLAND—Holliday Fenoglio Fowler LP has closed the sale of Pearl West, a newly developed, 155,465-rentable-square-foot class A office tower in Portland, OR. HFF marketed the property on behalf of the seller, Walter C. Bowen's BPM Real Estate Investments LLC, and procured the buyer, LaSalle Investment Management. Completed in 2016, Pearl West is a LEED Gold-certified, mid-rise office tower that blends creative office suites with high-street retail. The property features 17,800-square-foot typical floorplates, parking for 150 vehicles, storage for 87 bicycles and tenant shower and locker facilities. Currently, 89% leased, Pearl West is home to tenants, including Wacom, Zoom+, Regus and Howard S. Wright.
PORTLAND—Holliday Fenoglio Fowler has recently closed the $28.5 million sale of Sixth at Yamill, a 109,725-square-foot, creative office building in Portland, OR. HFF marketed the property on behalf of the seller, Swift Real Estate Partners. KBSRA Sixth at Yam, LLC, a joint venture between True North and KBS, purchased the asset in an off-market transaction.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
