Top 10 Commercial Real Estate Deals of 2011

Article excerpt

Byline: The Register-Guard

1. $18.6 million: Wilsonville-based senior housing company Avamere sold the Riverpark nursing home on Goodpasture Island Road to Nationwide Health Properties, which merged in February with Ventas, a Chicago-based real estate investment trust.

2. $8.3 million: Avamere also sold Eugene Rehab & Specialty Care, 2360 Chambers St., to Nationwide, which became Ventas.

3. $7.8 million: Oregon assisted living developer Farmington Centers Inc., sold Farmington Square Residential & Memory Care in Eugene to Maryland-based Lord Baltimore Group. Lord Baltimore Group has a $2 billion portfolio with assets in venture capital, timberland and real estate.

4. $7.5 million: A limited liability company including developer Dean Pickett sold "The Commons on Alder" project in south Eugene. The four story, 20-unit student apartment originally was planned as a seven story building, which riled neighbors and led to a smaller project.

The buyer is a Sisters-based limited liability company managed by Dutch investor Willem Willemstein, founder of European petroleum wholesaler Petroplus. Willemstein holds Bend investments, including a stake in the Tetherow Golf Club.

5. $7 million: Eugene-based Good Neighbor Care Centers, an assisted living business, sold its Good Neighbor Care Eugene, 2630 Lone Oak Way, to Living Care Senior Housing Development of Seattle.

6. $6.55 million: A Lake Oswego trust sold the River's Edge Townhomes on the south bank of the Willamette River at Maurie Jacobs Park to a limited liability company Oy Vavoy, whose owners are Robert Meyers, a Eugene property manager; Neil Schifberg, a Eugene investor; and Peter Zackery, as manager of a trust.

7. $5.97 million: Eugene developer Arlie & Co., which successfully emerged from a Chapter 11 reorganization, sold the Westlane Shopping Center in Veneta to developer John Hammer.

8. $5.97 million: Avamere sold its Junction City Rehabilitation facility to Nationwide, which became Ventas.

9. $4.55 million: Berkeley, Calif., company Meyer Crest Ltd. sold the Best Western Grand Manor Inn, one block east of Gateway, to investors Jasvir and Paramjit Dhaliwal of Olympia.

10.$4.1 million: Lone Rock Timber sold 1,668 acres - near Camp Creek Road northeast of Springfield - to a timber investment management organization set up by Lone Rock Timber Investments of Portland. TIMOs allow institutional investors, such as retirement funds, to buy into timberlands. Investors in the Lone Rock TIMO can be individuals, small endowments, trusts and family offices, but the minimum to start is $100,000, according to Lone Rock.

11. $3.67 million: Rosboro wood products company in Springfield sold 1,430 acres of timberland west of Junction City to a Giustina family partnership, including L.M. and A.J. Giustina.

12. $3.5 million: Springfield V, a limited liability company managed by Mark McDonald, sold the land and buildings housing Mattress Mania and the Castle Megastore on Gateway to a limited liability company called GATEWAY 4 INVESTORS, whose members are real estate broker Tim Campbell, cabinet makers Brent and Lori Lanz as trustees; and commercial developers William and Barbara Sokol as trustees.

13. $3.2 million: Eugene's McIntyre Construction sold its building at 1500 Westec Drive near the old Hynix plant to a limited liability company called Burley Buildings, which is managed by Michael Coughlin, owner of Burley, the bike trailer manufacturer. Coughlin also owns the Citizens Building downtown.

14. $2.8 million: The Portland-based Coburg Properties I Inc. …