HILLSBORO, OR-Mike Kalberer of Kalberer Co. picks up six acres near the intersection of Northwest Jacobson Road and Shute Road for $2.80 per sf, or about 35% less than the revised asking price of $4.25 per sf.
TACOMA, WA-The 12-story, 104-unit complex north of Downtown on Stadium Way will include a mix of one- to four-bedroom units ranging in price from about $250,000 to $1.2 million for penthouse units with 360 degree views.
SAN FRANCISCO-The Related Cos. of New York closes a $129-million Fannie Mae variable rate bond credit transaction for its high-rise luxury apartment property here.
NEUILLY-SUR-SEINE-On behalf of two of its public non-traded REITs, the New York-based company acquires five office and industrial properties that are net leased to the locally based Thales Group SA, one of the largest military contractors in the world.
OAKLAND, CA-A joint venture of Lennar Communities and San Francisco-based condominium specialist Emerald Fund pay about $326,000 per unit for the Essex on Lake Merritt, a luxury apartment tower here with 270 units that will be flipped as condominiums.
LAS VEGAS-Tiforb Development Corp., a high-rise developer based in Florida pays $27 million for the former Algiers Hotel and Casino here, which it plans to develop into a high-rise luxury condominium complex named Krystle Sands.
RENTON, WA-The Boeing Corp. has agreed to extend its lease of the 130,700-sf Two Renton Place building by 30 months. The term will start when its current lease expires next May.
HILLSBORO, OR-Publicly traded Bedford Property Investors of Lafayette, CA pays $9.8 million for a 78,000-sf headquarters building here that is net leased to a single tenant.
KIRKLAND, WA-A pair of Seattle residents who acquired the 92-unit Arbors at Park Place six years ago for $89,000 per unit sold the development for $118,478 per unit to a locally based group that will convert the garden-style property to condominiums.
SACRAMENTO-According to the most recent survey conducted by the California Mortgage Bankers Association, all but one third of 1% of the California commercial real estate loans serviced by 18 mortgage banking firms were either current or only one payment delinquent.