The 108,500-square-foot building on 4.67 acres is currently 89% occupied by a single tenant on a short-term lease at a below-market rental rate.

The resort property, located less than 85 miles from Seattle, sits on the crest of the Cascade Range within two national forests—the Mt. Baker-Snoqualmie National Forest on the west side and the Wenatchee National Forest on the east.

Maxx Properties plans to undertake what it terms will be a comprehensive modernization program including improvements to the clubhouse, all common areas and full unit renovations.

McCormick, a long-time industrial real estate specialist based out of Irvine, CA, most recently served as SVP – national accounts for real estate development and investment firm Rockefeller Group International.

The new organizational structure will replace the existing operations that manage CBRE's services business within its existing geographic businesses—Americas, EMEA and APAC. That structure will remain in effect for the remainder of 2018.

Since 2015, the Fogelman-Thackeray partnership has acquired seven multifamily communities totaling more than 1,800 units, with an aggregate value of more than $220 million.

The brand-new property at 6850 Weber Blvd. in North Charleston is net leased to FedEx Ground for 15 years and totals 265,318 square feet.

As part of the deal, State Street affiliates and MetLife affiliates will co-lend each loan.