CBRE Arranges $40M Sale of 178-Unit MF in Downtown Portland
CBRE announced the sale of 10th @ Hoyt, a 178-unit multifamily community with approximately 13,461 square feet of ground-floor retail space located at 925 NW Hoyt St. in Portland, Oregon, for $40.4 million.
CBRE’s Josh McDonald and Joe Nydahl represented both the seller, Rise Properties, and the buyer, a California-based family office, in the transaction. Built in 2004, the property consists of apartment homes across a six-story mid-rise building in the heart of Portland’s Pearl District. The community features a mix of studio, one-bedroom, and two-bedroom floor plans.
“We are proud to have closed 10th @ Hoyt, and the interest it drew shows real investor confidence in Downtown Portland,” said Josh McDonald, executive vice president at CBRE. “The Pearl District remains one of the most vibrant and sought-after neighborhoods in the Pacific Northwest, and it was a pleasure to guide both parties through a successful transaction on a high-quality asset.”
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Hines Acquires Bishop Arts Multifamily Portfolio, Retail
JLL Capital Markets arranged the sale of the Bishop Arts retail and multifamily portfolio, a collection of four Class A multifamily properties and 40,747 square feet of premier retail along North Bishop Ave. in Dallas. The Bishop Arts District is anchored by independent restaurants, local bars and retail. JLL represented the seller and developer, Exxir, owned...
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Chicago-Based Pearlmark Closes on Senior Mortgage Loan for North Carolina MF
Chicago-based Pearlmark closed on a $19.9 million debt investment to finance the acquisition of The Bridges of Cabarrus, a garden-style multifamily community comprising 144 units across seven three-story buildings in Kannapolis, North Carolina. The investment was originated and structured on behalf of Pearlmark Realty Senior Mortgage Partners I, L.P. The property was acquired by ESJ...
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Hillpointe Building 358-Unit Reno Rental Community
Hillpointe acquired a 32.5-acre site at 18610 Wedge Parkway in South Reno, on which it will build a 358-home rental community called Pointe Grand Cape at Southport. Pointe Grand Cape at Southport will feature 268 two-bedroom, two-bathroom apartments across 12 residential buildings, along with 90 built-to-rent three-bedroom, two-and-a-half-bathroom townhomes, each with an attached two-car garage....
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout