Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/566807
C A L I F O R N I A 20 • September 2015 • Western Real Estate Business www.REBusinessOnline.com PA C I F I C N O R T H W E S T HAMILTON ZANZE & CO. BUYS LAKESIDE LANDING IN TACOMA TACOMA, WASH. — Hamilton Zan- ze & Co. has purchased the 450-unit Lakeside Landing in Tacoma for an undisclosed sum. The community is located at 1414 South Mildred Street, near Washington State Route 16. Lakeside Landing was built in 1969. It features one- and two-bedroom units. The property was 95 percent oc- cupied at the time of sale. The sale was executed by Kenny Dudunakis and Jim Jensen of Berka- dia. The seller was not named. NIKE LEASES SPACE AT AMBERGLEN BUSINESS CENTER IN BEAVERTON BEAVERTON, ORE. —Nike has leased 105,005 square feet at the AmberGlen Business Center campus in Beaverton. The 217-acre business campus is just 20 minutes from Downtown Portland. Nike was represented by Bradford Fletcher of Newmark Grubb Knight Frank. The landlord, AmberGlen Of- fce Corporation, was represented by Chris Johnson, MaryKay West and Brandon Frank of NAI Norris, Beggs & Simpson. TRUAMERICA BUYS PACIFIC NORTHWEST MULTIFAMILY PORTFOLIO FOR $115 MILLION PORTLAND, ORE. — TruAmerica and its institutional partners DVO Real Estate and RCG Longview have acquired a fve-property portfolio in the Pacifc Northwest known as FPA Multifamily for $115 million. The transaction includes the 76-unit Lighthouse and the 177-unit Village at Lake Meridian in Kent, Wash., as well as the 210-unit Park at Tualatin in the Portland suburb of Tualatin. TruA- merica closed on the 126-unit Haven at Charbonneau in Wilsonville, Ore., and the 329-unit Somerset apartments in Kent this past June. The company plans to invest $8 mil- lion in interior-unit and common-area improvements throughout the port- folio. Renovations will include new kitchen appliances, cabinets, coun- tertops, lighting and hardware. Com- mon-area upgrades will enhance the renter experience with scenic land- scaping, fresh pool furniture, a dog park and an outdoor kitchen. TruAmerica's acquisition team was led by Noah Hochman. ZIEGLER CLOSES $145 MILLION IN BOND FINANCING FOR CCRC IN WASHINGTON GIG HARBOR, WASH. — Ziegler, a specialty investment bank, has closed $145 million in bond fnancing for Heron's Key, a nonproft continuing care retirement community (CCRC) currently in development in Gig Har- bor. Located on approximately 18 acres, Phase I of Heron's Key's development will include 194 independent living units, 36 assisted living units, and 45 skilled nursing units. The site, zoning and design allow for a future Phase II construction of an additional 88 independent living units and 32 memory care assisted liv- ing units. ZENITH CAPITAL, VILLAGE CONCEPTS PLAN 100-UNIT COMMUNITY IN SEATTLE SEATTLE — Zenith Capital and Vil- lage Concepts have announced joint plans for The Linden Village Assisted Living Community, a new 100-unit assisted living and memory care com- munity in North Seattle. Linden Village will ofer 79 units of assisted living housing in studio, one- and two-bedroom confgurations. There will also be 21 units available in the memory care wing. Development cost was not disclosed. Seattle-based Zenith Capital is over- seeing development and fnancing for Linden Village. Village Concepts, a se- niors housing developer and operator based in nearby Federal Way, Wash., will operate the community. AEGIS BREAKS GROUND ON SENIORS HOUSING COMMUNITY AND CULTURAL CENTER NEWCASTLE, WASH. — Seniors housing developer Aegis Living has broken ground on Aegis Gardens in Newcastle near Seattle, marking the Pacifc Northwest's frst senior living community for Chinese-Americans. Situated on a 7.5-acre waterfront site with access to Lake Boren, the resort-style, 110-home community is slated to open in 2017. When com- pleted, Aegis Gardens' activity center will host civic activities and cultural exhibitions. The center will also pro- vide daycare services to promote mul- tigenerational engagement. According to Nielson, 92,000 Chi- nese-Americans live within a 25-mile radius of the Newcastle location. Aegis Gardens' community pro- gramming will include celebrations of Chinese holidays, traditional cuisine representing major regions of China, mahjong, calligraphy, cribbage, Tai Chi classes, a central Zen garden and a tearoom. Staf fuent in Cantonese, Mandarin and English will provide 24-hour care. The development site in Newcastle, a block from the Bellevue city line, is culturally relevant for Chinese-Amer- icans because immigrants from China mined coal there in the late 1800s, contributing to Seattle's rise to promi- nence. AMERICAN REALTY ADVISORS ACQUIRES AMAZON- OCCUPIED BUILDING IN SEATTLE SEATTLE — American Realty Advi- sors has purchased a 317,000-square- foot mixed-use building in Seattle's South Lake Union neighborhood for a reported $215 million. The 12-story high rise is located at 2201 Westlake. The property is occupied by ofce and retail tenants, including Amazon and global health company PATH. Amazon currently occupies more than half of the property. The retail space is occupied by Bang & Olufsen, West Elm, Einstein Bagels and Ann Sacks Tile & Stone. American is acquiring all of the building's ofce and retail compo- nents. The property also includes the 135-unit Enso condominiums. The seller was Vulcan Real Estate. The transaction was executed by CBRE's Kevin Shannon. MCLELLAN ESTATE COMPANY BUYS WILSONVILLE CORPORATE CENTER IN OREGON WILSONVILLE, ORE. — McLellan Estate Company has purchased a 76,000-square-foot industrial project in Wilsonville for an undisclosed sum. The project is located at 27929 SW 95th Ave. The two contiguous buildings are situated on about four acres of land at the northwest corner of Boeckman Road & SW 95th Avenue. It is cur- rently 85 percent occupied by Amcor Packaging, Nitroheat LLC and Pack Edge Development. Scott Finney and Nick Chessar of Norris & Stevens rep- resented both McLellan and the seller, Rippey Investments, in this transac- tion. Norris & Stevens will continue to handle both the leasing and facilities management for the project. The property is occupied by offce and retail tenants, including Amazon and global health company PATH. in fo@iconbuilders.com 310-450-5661 x 101 Call us for feasibility review and scope development at no cost. Are Projects in Your Portfolio Approaching Year 15? 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