SAN FRANCISCO-Capri Capital closes three loans totaling $19.5 million for a portfolio of multifamily properties located in the cities of Modesto, Turlock and Vacaville, and Berkshire Mortgage Finance provides two loans totaling $22 million for a 410-unit complex in Sunnyvale and a 171-unit complex in Rohnert Park.
PORTLAND-Under a proposed deal for which the approval of Congress is being sought, United Parcel Service would swap 18 of 51 acres it controls at Southshore Corporate Park for 13.3 acres adjacent its Swan Island property that houses the U.S. Navy & Marine Corps Reserve Center.
SEATTLE-Metzler North America acquires the office and retail portions of the 20-story class A building in Downtown Seattle on behalf of Hamburg, Germany-based Deutsche Immobilien Fonds AG, the real estate arm of German fund manager Union Investment Group.
PORTLAND-Childpeace Montessori signs a five-year lease for Bridgetown Phase II, a 39,000-sf building in Northwest Portland most recently occupied by 800.com, which went AWOL this time last year.
DURHAM, NC-The Los Angeles-based 1031 Investment sponsor acquires the 235,979-sf First Union Plaza at the entrance to Duke University on behalf of itself and 15 1031 investors.
OLYMPIA, WA-The 12,622-sf building has been leased by Group Health since it was developed in 1988. Sun Life Financial acquired the building that same year. With Group Health's 15-year lease term expiring this month, Sun Life has sold to Sea Mar Community Health Centers for $2.1 million.
SAN FRANCISCO-Virtual Premise, a real estate software maker that has made a name for itself in the corporate sector, will take ASI's popular Lotus Notes-based applications for the commercial real estate market and convert them into a Web-based product.
TUMWATER, WA-Friday was the final day of a 60-day period wherein Miller Brewing said it would try to sell the brewery without outside assistance. The Milwaukee-based company is expected this week to select a single potential buyer to continue negotiations with or hire a brokerage firm to market the property.
PORTLAND-The PDC is looking for proposals that would turn the property into a mixed-use residential-over-retail development. Preliminary drawings show a four-story structure with roughly 75 apartment units.
HONG KONG-According to a recent report on the market, tenants are increasingly opting for lease restructuring to secure longer-term business accommodation in order to capitalize on the current attractive rentals and packages. A major side benefit should be a less volatile office market, according to the report.
