REACH Community Development’s $3.9M Purchase of the Bronaugh Apartments Preserves 51 Units of Downtown Affordable Housing
REACH Community Development has paid $3.9 million for the 51-unit Bronaugh Apartments, a Section 8 affordable housing property at 1434 SW Morrison Street in downtown Portland. NAI Norris, Beggs & Simpson Vice President Robert Black represented REACH and the seller, Bronaugh Investors Oregon. More >
NAI Global Affiliates in Seattle and Vancouver, Wash., Broker Sale of 94,000 SF Kent Business Center
Killian Pacific, a commercial real estate development and investment company based in Vancouver, Wash., has purchased Kent Business Center, a 93,999 sf flex/industrial property in Kent, Wash., an area south of Seattle. More >
Earlier this summer, NAI Global announced that it has entered into an agreement with AuctionPoint to provide NAI agents with access to an online auction tool that empowers brokers to auction commercial properties online, under their name and brand. AuctionPoint realizes that the local broker is the key player in bringing together buyers and sellers, and is the first online auction platform built specifically for brokers. More >
Some good news on the Portland metro area investment front this week, just as sunny summer weather finally hit.
Retail Opportunity Investments Corp, a New York real estate investor, is buying five Portland metro area shopping centers for about $90 million. It closed on Vancouver Market Center for $11.19 million, and is under contract for Cascade Summit Shopping Center, Heritage Market Center, Happy Valley Town Center, and Oregon City Point.
Phillips Edison & Co. also purchased Johnson Creek Shopping Center, a 106,709 sf center in Clackamas, for an undisclosed price.
And Behringer Harvard Holdings purchased the 188-unit Tupelo Alley Apartments on N. Mississippi in Portland for $38.75 million in the largest multifamily transaction so far this year.
NAI Norris, Beggs & Simpson Vice President Denis O’Neill and Vice President Steve Dodds represented Spears Real Estate, LLC in the $8.275 million purchase of Quad 205 Business Park, a 108,625 square foot landscaped business park in Vancouver, Wash. NAI NBS also took over building leasing and management in the trade. More >