Regions West | Seattle/Portland
Financing in Place for Portland Industrial Property's Transformation
July 18, 2008

An historic Portland warehouse building is on track to evolve into a mixed-use property now that HomeStreet Capital has provided ConoverBond Development with $10 million in financing for the project. Developed in 1923, the vacant General Automotive Building occupies a spot near a new light rail line in the city's Pearl District. While referred to as a single building, the property actually consists of a two-story structure and a three-story structure that will be linked together in the redevelopment process. The finished product will consist of a single five-story structure encompassing 37,000 square feet of office space and 7,500 square feet of ground-level retail space. Fortis Construction Inc. is onboard as contractor and SERA Architects Inc. is behind the design of the project, which will adhere to standards necessary to achieve LEED Silver certification.

 
Recent Seattle/Portland Headlines
JV Secures $30M in Financing for Seattle Apartment Property
Aug. 22, 2008
CREA/Legacy Federal Way L.L.C., a joint venture involving Legacy Partners and Cornerstone Real Estate Advisors, has closed on a $30 million first mortgage for Campus Grove Apartments in Seattle.
Beaulieu bldg First Industrial Continues to Expand in Metro Seattle
Aug. 14, 2008
Having entered the Seattle market only last year, Chicago-based First Industrial Realty Trust has grown its presence there steadily, its most recent transaction being the just-announced acquisition of a three-building distribution portfolio in the Kent Valley. The Class A buildings total 233,000 square feet and are 100 percent leased.
$27M Financing Deal in Place for Seattle Shopping Center
Aug. 01, 2008
The 306,000-square-foot Northgate North Shopping Center on Northgate Highway in Seattle has just been refinanced to the tune of $26.7 million.