Oregon Commerce Parks Industrial PortfolioPortland Oregon

Project Type:
Acquisition - Industrial
This portfolio consists of four industrial properties located in Portland, Oregon.  
  • Clackamas is a four building multi-tenant property (280,000 SF) constructed. The property is well located fronting SR224 just east of an I-205.
  • McLoughlin is a four building multi-tenant property (348,000 SF). The property is located in Portland’s southeast industrial market.
  • Milwaukie is a five building multi-tenant property (407,000 SF). The property is conveniently located within one mile of an I-205 interchange.
  • Wilsonville is a three building multi-tenant property (126,000 SF). The property sits adjacent to Interstate 5, with an interchange immediately to the north.

SLS Hotel Los Angeles, California

Project Type:
Mezzanine Loan

This Beverly Hills hotel was built in 1990 and has operated as a Le Meridien hotel since 1999.  The property was closed in the summer of 2007 to be completely remodeled and re-branded as the flagship SLS Hotel.  The 297-key hotel is a new brand of modern-style, entertainment-rich, boutique hotels operated by Starwood under the Starwood Luxury Collection.  The Beverly Hills SLS is a unique and rich guest experience including top design, a destination lobby bar along with several restaurants, a new spa, fitness center and a roof top pool.

Wonder Bread PropertySeattle, Washington

Project Type:
Urban Infill Land Acquisition

Two full city blocks were acquired from the owners and former operators of a Wonder Bread Bakery facility.  One of the blocks was simultaneously sold to neighboring Pratt Fine Arts Center for future expansion purposes.  In preparation for sale or development, Washington Holdings evaluated the development potential of the remaining block for adaptive reuse of existing structures for office/studio/gallery uses, for partial redevelopment as an approximately 180-unit condominium, for full redevelopment as an approximately 270-unit apartment complex, or for some combination of these uses.

Park PlaceSeattle, Washington

Project Type:
Acquisition - Class A-/B+ High-Rise Office Building Asset & Property Management

Acquired by Washington Holdings in 2009, Park Place is a LEED Platinum Certified, 21-story office tower located in downtown Seattle.  The property was built in 1970 and features a newly renovated lobby, efficient floor plates, modernized elevators, secured on-site parking, views of Mt. Rainier and meticulously landscaped grounds in a park-like setting.  Park Place benefits from a high-profile location along the I-5 corridor, which offers convenient ingress/egress to tenants and visitors alike.

St. Regis Monarch Beach Resort & SpaDana Point, California

Project Type:
Acquisition

Acquired by Washington Holdings in 2010, the 400-key St. Regis is a world-class destination and Southern California’s only coastal resort that offers the combination of an on-site, 18-hole championship golf course, a destination spa and an exclusive beach club.  The Resort offers a unique and highly attractive coastal setting with desirable golf and Pacific Ocean views.  In addition, the St. Regis has been awarded Forbes Travel Guide 5-star Award, AAA’s 5-Diamond rating and is one of the ‘Top 25 Hotel Spas in the world’ by Travel & Leisure Magazine.

UBS Bonds

Project Type:
Commercial Mortgage Backed Security

Washington Holdings owns investment grade bonds in the UBS 2007-FL1 securitization.  The pooled assets are secured by mortgages that are senior to $1.5 billion of other debt as well as $1.4 billion of equity.  The 27 properties that secure the mortgages are diversified geographically as well as amongst property type with office, multi-family and hospitality all represented.

CNL Whitehall Global 30 Hotel PortfolioVarious

Project Type:
Mezzanine Loan

This 30 hotel portfolio features such brands as the Sheraton, Hampton Inn and Holiday Inn Express.   Within the portfolio are 9-full service and 21-limited service hotels totaling approximately 4,300 keys.  The hotels are located predominantly in the Southwest and Midwest and most heavily weighted in California, Florida and Illinois.  The properties were built between 1965 and 1999 with an average in-service of 1988.

The Civic CondominiumsPortland, Oregon

Project Type:
Mezzanine Construction Loan

This LEED-certified mixed-use project is next to PGE Park at the intersection of three prominent Portland neighborhoods: CBD, Pearl District and Northwest neighborhoods.  The 16-story condominium tower houses 261 residential units and approximately 34,000 sf of retails space.  Also affiliated with this project is a 398-space parking garage and a 140-unit affordable rental housing tower with unrelated funding.

Springbrook 188 Distribution CenterKent, Washington

Project Type:
Tilt-up concrete multi-tenant industrial facility with adjacent cold storage and freezer buildings
  • 19-acre site
  • 369,000 leasable square feet
  • 305,000 SF warehouse space
  • 15,000 SF mezzanine office
  • 47,000 SF cold storage/freezer
Purchased at a significant discount to replacement cost, this former Associated Grocers warehouse was successfully repositioned for multi-tenancy including a 215,000 SF lease to Starbucks. A cosmetic renovation that included selective demolition, strategic façade and site enhancements, and new mechanical systems was completed within budget and on time.

Southcenter Corporate SquareTukwila, Washington

Project Type:
Eleven Class B+ Two-story Office Buildings within a Redeveloped Office Park
Washington Holdings acquired the property as a completely vacant office park consisting of twelve two-story garden-style buildings, located one block south of the Southcenter Regional Shopping Center. One building and a vacant parcel were immediately sold and the remainder of the project was redeveloped. Renovation included re-siding all building exteriors, installing new roofs and new HVAC units, enhancing lobbies, adding new building identification and updating all landscaping and site improvements within the extensive 16-acre office park campus.

Skye Landing Sammamish, Washington

Project Type:
Condominium Development Attached Residential
In a joint venture with a local homebuilder, the team developed and sold 86 townhouse units within the Klahanie community. The efficient site plan includes a combination of 78 traditional townhomes and eight ‘carriage-house’ units, achieving an overall density of 11 dwelling units per usable acre.

Portland Marinas Portland, Oregon

Project Type:
Second Mortgage
This portfolio consists of approximately 1700 slips in the Tomahawk Bay, Jantzen Bay and Hayden Bay Marinas Crossings on Hayden Island on the Columbia River, and the Riverplace marina located on the Willamette River in downtown Portland along with various land and commercial property holdings.

The Pearl at PineSeattle, Washington

Project Type:
Development
This property was acquired by Washington Holdings in February 2006 and entitled as an infill high-end condo project. The site is situated with easy access to I-5, near a future light rail stop, and the Convention Center Transit Station. It is located within the Pike/Pine neighborhood of Capitol Hill and is in close proximity to Downtown Seattle.

Park I-84 IndustrialGresham, Oregon

Project Type:
Acquisition – Class B Industrial Park
This property was acquired in January 2007 and is a general purpose light industrial property as a functional warehouse asset with significant upside potential for repositioning or redevelopment over time. The four separate but contiguous buildings on the site were built between 1959 and 1992 for the Firestone Corporation. The site is located adjacent to I-84 with excellent freeway visibility and access to the freeway.

One WilshireLos Angeles, California

Project Type:
Mezzanine Loan
One Wilshire, totaling approximately 656,000 rsf, is considered the premier telecommunications hub connecting the U.S. and the Pacific Rim and is branded with the telecom industry as the single most important point of connectivity in the Western United States.

One Main PlacePortland, Oregon

Project Type:
Class A High-rise Office Building
One Main Place was built in 1980 as a Class A high-rise office building and acquired in 1999. Well-located at an entrance to Portland’s Central Business District, it affords excellent access and visibility. An extensive updating program was completed including a comprehensive lobby renovation, replacement of the fire alarm system, restroom upgrades, and exterior cleaning.

Montague ParkSan Jose, California

Project Type:
Mezzanine Loan Acquisition & Restructure
Washington Holdings acquired a mezzanine loan from an institutional lender and then negotiated a modification of the loan to assist the owner of this property achieve certain medium term objectives. Totaling 417,000 rsf, Montague Park is a 5-building campus strategically located in one of the most desirable parts of the “Golden Triangle”.

Technology Corners at Moffett ParkSunnyvale, California

Project Type:
Second Mortgage
Technology Corners at Moffett Park is a Class “A” five building, 715,998 square foot office complex located on 26.5 acres in the heart of the Silicon Valley. Technology Corners is comprised of four 175,082 square foot office buildings (four stories) and a 15,000 square foot fitness facility (two stories) set along a highly landscaped central plaza. 

Boston Data Center PortfolioBoston, Massachusetts/San Francisco, California

Project Type:
Second Mortgage Origination
The Portfolio is comprised of two well-located and highly improved data center / telecommunications properties known as One Summer Street and 466 Townsend. One Summer Street is an 8-story retail and master planned data center and telecommunications facility in downtown Boston. Totaling 793,418 SF, the property is recognized as the most important facility of its kind north of New York City. 466 Townsend is a 3-story, 115,000 SF data center and telecommunications facility in San Francisco’s South of Market Area (SOMA).

Market Post TowerSan Jose, California

Project Type:
Preferred Equity Investment
Market Post Tower is a major business landmark in the San Jose region. The building is considered one of the premier communications hubs in the Western United States and is home to Verizon’s MAE West. MAE facilities are carrier-neutral PoP’s where customers can interconnect to exchange internet traffic.

Lenora SquareSeattle, Washington

Project Type:
Historic Office Building Renovation
Lenora Square is a historic, art deco reinforced concrete building constructed in 1928. The 112,000 rsf, 7-story building features a prominent brick facade, high ceilings, large windows and an ornate neo-Victorian lobby. Washington Holdings acquired the building at substantially below replacement cost, initiated a comprehensive renovation program to bring it up to Class A office standard, and sold the project to a local investor in 2000.

Kyo-Ya Hotel PortfolioHonolulu, Hawaii/Maui, Hawaii San/Francisco, California/Orlando, Florida

Project Type:
Mezzanine Loan
The 7-hotel portfolio includes four oceanfront hotels, three of which are located on Waikiki including the Sheraton Moana Surfrider, The Royal Hawaiian and the Sheraton Waikiki with the Sheraton Maui located on the Pacific Ocean in Ka’anapali, Maui. Also included in the portfolio are the Sheraton Princess Kaiulani located across the street from Waikiki Beach, the Hyatt Grand Cypress Resort located in Orlando, FL and the historic Palace Hotel located near the financial district in San Francisco, CA.

8801 East Marginal Way Seattle, Washington

Project Type:
Industrial/Ground Lease/Future Development Site
Washington Holdings acquired this multi-building industrial/manufacturing facility, which sits on 24.38 acres of land. The property was then leased on a long-term ground lease to IAAI, a publicly traded service provider to the auto insurance industry. The project is located across the street from Boeing Field, the second most active airport in the region, and approximately 1 mile south of the Port of Seattle.

Harbor StepsSeattle, Washington

Project Type:
Mezzanine Recapitalization
The complex encompasses 734 apartment units, over 80,000 SF of office and retail space, a 25-room boutique hotel, and extensive parking facilities. The project was built around the Harbor Steps, a pedestrian only park/plaza; this public space connects downtown and the waterfront and it is a central link for the Harbor Steps buildings as well as the adjacent Pike Place Market and Pioneer Square historic district.

Four Seasons Hotel & ResidencesSeattle, Washington

Project Type:
Senior & Subordinate Construction Loan
The Four Seasons is a 21-story luxury hotel & residential tower. The hotel, situated on the first 10 floors of the tower offers 147 guest rooms in addition to extensive meeting facilities & a world-class spa. There are 36 luxury condominiums above the hotel. The property is located in the heart of Downtown Seattle within walking distance to Pike Place Market and the Seattle Art Museum.

FAA BuildingRenton, Washington

Project Type:
The FAA Building totals approximately 180,000 rsf and is located at the north end of the Kent Valley in Renton, Washington, with access and visibility off Interstate 405 and Highway 167. It was 100% leased by the U.S. General Services Administration for the Federal Aviation Administration.

Marriott Washington D.C.Washington D.C.

Project Type:
Mortgage Loan Participation
The Washington Marriott is a 9-story, 473-key full service hotel that was originally built in 1981. Guests can enjoy a business center, swimming pool and fitness center. The property is located in the West End neighborhood of DC, within walking distance of the historical Georgetown and Foggy Bottom neighborhoods.

Centerpointe I & IIFairfax, Virginia

Project Type:
Junior Mezzanine Loan
Located in Fairfax, Virginia, one of Washington D.C.’s most desirable sub-markets, Centerpointe is situated less than 10 miles from Dulles International Airport and with easy access to DC via I-66. Built in 1987 and 1989, the two 11-story towers provide landscaped common areas and efficient 19,000 square foot floor plates for its tenants. The property is located adjacent to the Fair Oaks Shopping Center.

Capstone DexterSeattle, Washington

Project Type:
Refinancing & Redevelopment Senior Loan
Washington Holdings’ investment allowed the sponsor to recapitalize the project in a manner that favorably allows for redevelopment. The property is comprised of two office/R&D buildings totaling 38,600 rsf. Located between Seattle’s Queen Anne and South Lake Union neighborhoods, this project consists of three land parcels totaling over 85,000 square feet.

6300 Merrill Creek Parkway Everett, Washington

Project Type:
Industrial/Flex
Merrill Creek Center is a 179,000 sf industrial/flex facility that can accommodate manufacturing, lab, assembly, warehouse and office requirements from 18,000 square feet and up. The property provides parking for 660 cars and has excellent truck staging and loading. It is located less than a mile from Boeing’s 747, 777 and 7E7 manufacturing center and Paine Field international airport with easy access to I-5, I-405 and SR 526.

Black DiamondBlack Diamond, Washington

Project Type:
Residential Land Development
Washington Holdings acquired this 395-acre raw land asset in the summer of 2006 with intentions to develop a master planned community with approximately 1,200 homes. Black Diamond is approximately 25 miles southwest of Seattle; located in the foothills of the Cascade Mountains, this community offers access to both Puget Sound employment centers and recreational opportunities at Mt. Rainier National Park, Crystal Mountain ski area and beyond.

6500 Merrill Creek ParkwayEverett, Washington

Project Type:
Industrial/Flex
The project was built in 1996 and was purchased by Washington Holdings in October 2006. 6500 Merrill Creek Parkway has 87,000 sf of manufacturing/distribution space and 24,000 sf of office space. It is located close to Merrill Creek Center, another Washington Holdings portfolio property, and is attractive to tenants affiliated with Boeing’s nearby 747, 777, and 787 manufacturing activities.

1616 EastlakeSeattle, Washington

Project Type:
1616 Eastlake was designed to accommodate both biosciences and office users. The building totals 164,000 rsf and features large open floor plates, state of the art mechanical and electrical systems, large floor loading capacity, sweeping lake views and a landscaped plaza. The building’s 2 ½ levels of below-grade parking will house more than 300 vehicles with easy access from two adjoining streets.

1500 NW Irving & Lloyd Plaza Portland, Oregon Portland, Oregon

Project Type:
Acquisition – Class B Office Buildings
Acquired by Washington Holdings in August 2007, this five building portfolio is located across the Willamette River from Portland’s CBD in the popular Lloyd District. 1500 NW Irving is a 5-story building on 1.78 acres and is located directly across the street from Lloyd Plaza, four one-story buildings on 5.16 acres. All of the buildings were built in 1963-64 for the Bonneville Power Administration. Both parcels are favorably zoned as CXd, Portland’s high-density urban mixed use zoning.

5th & BellSeattle, Washington

Project Type:
First Mortgage Bridge Loan
Fifth and Bell is a 197,000 rsf, Class A office building in downtown Seattle. Washington Holdings originated a bridge loan secured by a first mortgage, permitting the developer to exercise a “buy-sell” option with their financial partner.

Two Union SquareSeattle, Washington

Project Type:
Class “A” High-Rise Office Building Asset & Property Management
Located in the heart of downtown Seattle, Two Union Square, built in 1989, is a LEED Certified, 56-story Class A office building totaling over 1.1 million rsf. Two Union Square shares, with One Union Square, all of the complex’s amenities including the 1,100-stall parking garage, an outdoor courtyard, three levels of urban retail plaza and an underground pedestrian concourse that connects with the Fifth Avenue Theater and Rainier Square. The Washington Holdings team manages Two Union Square and it is a dynamic center of the region’s business and financial community

One Union SquareSeattle, Washington

Project Type:
Class “A” High-Rise Office Building Asset & Property Management
Located in the heart of downtown Seattle, One Union Square, built in 1981, is a LEED Certified, 38-story Class A office building totaling 657,000 rsf. One Union Square shares, with Two Union Square, all of the complex’s amenities including the 1,100-stall parking garage, an outdoor courtyard, three levels of urban retail plaza and an underground pedestrian concourse that connects with the Fifth Avenue Theater and Rainier Square. The Washington Holdings team manages One Union Square and it is a dynamic center of the region’s business and financial community.

The AtriumSeattle, Washington

Project Type:
Office Development
The asset consists of 1.66 acres of land. Washington Holdings expects to develop a four-story bioscience/office building containing approximately 180,000 square feet and 200 parking stalls. The project is located on the southeast shore of Lake Union in Seattle, just north of the Fred Hutch Cancer Research Center, UW Medicine’s South Lake Union campus and Amazon.com’s world headquarters.

Monarch Beach Golf LinksDana Point, California

Project Type:
Golf Course
The Monarch Beach Golf Links is an 18-hole championship golf course designed by master architect, Robert Trent Jones, Jr. The golf course was constructed in 1983 and shares a 172-acre site along the bluffs of the California Riveria with the five star/five diamond St. Regis Monarch Beach Resort & Spa. It is within the city limits of Dana Point, Orange County, California. The Property is one of only a handful of golf courses in California that are built immediately adjacent to the Pacific Ocean. The signature 3rd and 4th holes border and overlook the beautiful beaches at Monarch Bay.

Touchstone Fairview PortfolioSeattle, Washington

Project Type:
Acquisition & Development Loan
The collateral for our loan consists of three prime land parcels located in Seattle, WA. These parcels are (nearly) full city blocks known as the Troy Block, the Cascade Block and the North Edge Block. The Troy and Cascade Blocks are located in the South Lake Union submarket of downtown Seattle and the North Edge Block is located immediately north of Lake Union in the Wallingford submarket of Seattle.

Evergreen Corporate CenterHillsboro, Oregon

Project Type:
Acquisition
Evergreen Corporate Center is a 267,000 rsf, four building, Class A suburban office/flex project located in the Sunset Corridor area of greater metropolitan Portland, Oregon. The project offers above average parking, excellent access via transit and major highways/thoroughfares and vibrant retail and restaurant amenities in the vicinity. The project includes a development parcel totaling approximately 2.33 acres, which has been planned to accommodate up to 120,000 square feet of additional office space.

Hotel 1000Seattle, Washington

Project Type:
Senior & Mezzanine Loans
The collateral for our loan is the Hotel 1000, 120-key full service hotel, built below 10 stories of luxury residential condominiums (47 units). Hotel amenities include 6,200 square feet of meeting space plus a full-service spa, business center, library, fitness center, virtual golf simulator, valet parking, and a 100-seat gourmet restaurant, BOKA Kitchen & Bar. Hotel 1000 has been named among the Top 100 hotels in the world by the Robb Report. In addition, the London Times called the Property the “most intelligent” hotel in the world due its high-tech features.

Barton Creek Resort & SpaAustin, Texas

Project Type:
Mezzanine Loan
Located in Austin, TX, the Barton Creek Resort & Spa encompasses more than 800 acres of scenic Texas Hill Country just 15 minutes west of downtown Austin. The Resort is anchored by a 312-key four star hotel housing a 14,000 sf spa, fitness center, flexible meeting space and is a premier golf destination for travelers as well as local players.

Hawk’s PrairieLacey, Washington

Project Type:
Senior Land Loan
The collateral for our loan is an industrial park containing 4.3 million square feet of land entitled for approximately 2 million square feet of industrial development, located just north of I-5 in Lacey, WA which is located between Tacoma and Olympia. All site improvements are completed and the park is in “ready to build” condition.

Moffett TowersSunnyvale, California

Project Type:
Mezzanine Loan
Moffett Towers is a premier, state-of-the-art, Class-A Office/R&D campus in the Silicon Valley developed by the Jay Paul Company. The development’s two phases total over 1.6 million square feet of space in six distinctive 8-story towers plus a 52,000 sq. ft. amenity building. Our Loan is collateralized by the Phase I portion of Moffett Towers which is comprised of three office towers totaling approximately 950,000 rentable square feet. The Project has received LEED Gold certification reflecting the environmentally responsible and energy efficient design.

Duvall Urban VillageDuvall, Washington

Project Type:
Development
Washington Holdings has teamed with City of Duvall and adjacent property owners to entitle our site for 168 residential units. The project includes a mix of attached and detached housing as well as commercial lots.

121 NW EverettPortland, Oregon

Project Type:
Acquisition – Class A Office Building
Washington Holdings acquired this property in January 2008. The property is located in Portland’s Old Town District, within a few blocks of the Pearl District to the west and the financial core to the south. The 7-story building was built in 2000 and totals approximately 106,000 rsf. It is situated on a full city block (0.87 acres). Tenants enjoy amenities such as bike storage and locker rooms and high quality finishes including a lobby with reclaimed old growth Douglas Fir panels.