Western Real Estate Business

MAY 2018

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/978056

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Page 34 of 66

C A L I F O R N I A 32 • May 2018 • Western Real Estate Business www.REBusinessOnline.com PA C I F I C N O R T H W E S T CURIO COLLECTION BY HILTON INTRODUCES 297-ROOM HOTEL PORTLAND, ORE. — Curio Collec- tion by Hilton has opened The Porter, a 297-room hotel in Portland. The new property is located at 1355 SW 2nd Ave. Amenities include a library, heat- ed indoor pool, sauna room, steam room, meditation spa, locker rooms and 24-hour fitness center. Each guest room offers complimentary Wi-Fi, imperial bath products, a mini bar stocked with local products, and a se- lection of coffee and tea. Union Invest- ment owns the property, which Wide- waters Group manages. HODGES WARD ELLIOT NEGOTIATES $87 MILLION SALE OF 234-BED HOTEL IN BELLEVUE BELLEVUE, WASH. — Hodges Ward Elliott has arranged the sale of AC Hotel Seattle Bellevue/Downtown, a hotel located at 208 106th Place NE in downtown Bellevue. Ishin Aju Hotel Bellevue LLC acquired the hotel from WPPI Bellevue AC LLC for $87 mil- lion. The seven-story property, which opened in August 2017, features 234 rooms, two levels of underground parking, 1,487 square feet of meeting space, the AC Lounge, the AC Kitch- en, the AC Store, the AC Library and a fitness center. Mark Elliott, John Son- nier, Michael DiPrima and Rick Rush of Hodges Ward Elliott represented the seller in the transaction. COHEN FINANCIAL ARRANGES $11.9 MILLION REFINANCING FOR TWO RETAIL CENTERS VANCOUVER, WASH. — Cohen Fi- nancial, a division of SunTrust Bank, has arranged two loans totaling $11.9 million for the refinancing of two retail centers located in Vancouver. Peter Norrie of Cohen Financial ar- ranged a $4.7 million loan for Salmon Creek Center and a $7.2 million loan for 164th Plaza through Alaska USA Federal Credit Union. The five-year loans feature 25-year amortization schedules and an option to extend for another five years. RESTORATION HARDWARE OPENS 46,000 SF HOME FURNISHINGS GALLERY PORTLAND, ORE. — Restora- tion Hardware (RH) has opened a 46,000-square-foot location in Port- land's historic Alphabet District. The four-story building features installa- tions of home furnishings in a galley setting, with entire floors dedicated to RH Interiors, RH Modern and RH Outdoor. RH Portland also includes professional design services in a stu- dio environment. Design elements include a 40-foot skylight, 21 crystal helix chandeliers and a landscaped rooftop park with panoramic views of downtown Portland. ESI NEGOTIATES $50.5 MILLION SALE OF SENIORS HOUSING COMMUNITY NEAR SEATTLE EVERETT, WASH. — Evans Senior In- vestments (ESI) has arranged the sale of Garden Court Retirement Commu- nity, a 148-unit independent living and assisted living property in Everett. A national private equity firm acquired the property from an independent owner-operator for $50.5 million, or approximately $341,000 per unit. Built in 2002, Garden Court Retirement Community is located 13 miles north of Seattle between the downtown ar- eas of Everett and Lynwood. At the time of sale the community averaged 95 percent occupancy. The buyer will bring Artēgan on as operator. Every time SIORs walk into a room, their reputation precedes them. Experienced, knowledgeable, and focused, SIORs represent the absolute best in commercial real estate. Access the world's most elite network and open the door to game- changing opportunities. SIOR . Your next big win is just four letters away. HERE COMES JANET. www.SIOR.com SEND YOUR NEWS TO western@ francemediainc.com

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