| Wood Partners Breaks Ground on 314-Unit Alta Art Tower in Portland, Oregon |
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July 18, 2019 • Issue 903
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Bellwether Enterprise Arranges $126.5M Refinancing for Newly Completed Apartment Complex Near Los Angeles
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Talaria at Burbank, completed in February, includes 241 apartment units and a ground-floor Whole Foods Market.
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BURBANK, CALIF. — Bellwether Enterprise Real Estate Capital LLC has arranged a $126.5 million loan for the refinancing of Talaria at Burbank in Los Angeles County. Completed in February, the apartment community is home to 241 luxury units, a ground-floor Whole Foods Market and subterranean parking.
The four-story property is located at 3401-3425 W. Olive Ave. across the street from NBC, ABC, Warner Bros. and other major film/television studios. The complex features a mix of one-, two- and three-bedroom floor plans as well as two penthouse units. VTBS Architecture designed the project.
Amenities at Talaria at Burbank include a resort-style pool, fitness club, rooftop bar and lounge, business center, bicycle repair shop, electronic vehicle charging stations and 24-hour concierge services. The 42,000-square-foot Whole Foods Market also features a restaurant and pub.
<Read More>
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Investors Capital Group Acquires 289-Unit Multifamily Property Near Tucson, Arizona
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Located in Tucson, Ariz., Domain 3201 features 298 apartments, three swimming pools, spas, poolside cabanas, picnic areas and a full-size tennis court.
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TUCSON, ARIZ. — Investors Capital Group has purchased Domain 3201, a multifamily property located within the Casas Adobes area of Tucson. Aspen Square Management sold the property for $37.7 million.
Situated on more than 12 acres, Domain 3201 features 298 apartments, three resort-style swimming pools, spas, poolside cabanas, picnic areas and a full-size tennis court. The property was constructed between 1985 and 1990. <Read More>
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Six-Person Multifamily Investment Team Joins Kidder Mathews’ Seattle Office
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Dylan Simon (left) and Jerrid Anderson (right) have joined Kidder Mathews' Seattle office as executive vice presidents.
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SEATTLE — The multifamily sales investment team led by Dylan Simon and Jerrid Anderson has joined Kidder Mathews in its downtown Seattle office. The team includes Matt Laird, multifamily investments; Alex Mundy, debt and equity finance; Tyler Blaikie, associate financial analyst; and Cat Chase, marketing specialist. Simon and Anderson have joined Kidder Mathews as executive vice presidents.
The six-person team specializes in the sales of multifamily investment properties and development land in Seattle and the Puget Sound area. Collectively, the team possesses nearly 50 years of commercial real estate industry experience and completed nearly $1 billion in multifamily investment transactions, including the sale of more than 7,000 units, over the past five years.
Prior to joining Kidder Mathews, the team served with Colliers International’s Seattle office.
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Development News & Done Deals
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Wood Partners Breaks Ground on 314-Unit Alta Art Tower in Portland, Oregon
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Alta Art Tower Portland will feature 314 units in a mix of studio, one-, two- and three-bedroom layouts.
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PORTLAND, ORE. — Wood Partners has broken ground on Alta Art Tower, a Class A multifamily property located at 1516 SW Alder St. in Portland.
The high-rise tower will feature 314 units in a mix of studio, one-, two- and three-bedroom floor plans. Units will feature quartz kitchen countertops; stainless steel Energy Star appliances, including gas cooking ranges; vinyl-wood flooring; en-suite master baths with custom-framed mirrors; tile shower surrounds and soaking tubs; walk-in closets; and solar shades.
The community is central to a variety of art, cultural and retail in the Portland neighborhoods of Downtown, Pearl District, West End, Goose Hollow and Alphabet District.
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Mark IV Capital Buys 4,300-Acre Crossroads Commerce Center Development Site Near Reno, Nevada
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FERNLEY, NEV. — Mark IV Capital, in partnership with Heath Rushing of New Nevada Resources, has acquired Crossroads Commerce Center, a 4,300-acre industrial and commercial property located in Fernley, for an undisclosed price. The asset has been rebranded to Victory Logistics District.
Situated 30 miles east of Reno, Nev., Victory Logistics Center will be completed in phases with the first phase including approximately 7.5 million square feet of industrial space. <Read more>
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CBRE Arranges $55.9M Refinancing for HERE Creative Office Campus in Orange County
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HERE features 223,974 square feet of creative office space in Laguna Hills, Calif.
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LAGUNA HILLS, CALIF. — CBRE Capital Markets’ Debt & Structured Finance team in San Diego has arranged a $55.9 million loan for the refinancing of HERE, an office campus in Laguna Hills. Originally built between 1988 and 1989, the five-building property features 223,974 square feet of office space. The borrower is a joint venture between Cigna Investments Management and Cruzan. <Read more>
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Intracorp Purchases Land Parcel for Apartment Development in Southern California
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