Jun 23, 2016
HomeStreet Bank Commercial Real Estate said it has provided a $66.13 million loan for Spruce Apartments in West Seattle. The developer is Madison Development Group. Financing was arranged by HomeStreet Bank Vice President Katie Plett. The 216-unit complex has 42,000 square feet of retail and opened in 2015. HomeStreet Bank arranged a 10-year, fixed-rate Fannie Mae DUS permanent loan to refinance Spruce Apartments and LA Fitness.
The U.S. Department of Housing and Urban Development awarded $411,356 to Washington State Housing Finance Commission to help people with housing and prevent foreclosures. The award is up 67 percent from the $245,522 in housing counseling funds the commission was awarded last year. The commission partners with nonprofits to deliver services including counseling on purchasing, mortgage delinquency/defaults and reverse-equity mortgages as well as seminars on homebuying and foreclosure prevention.
Oregon Opportunity Network in Portland is putting on a public forum about Portland's inclusionary housing policy on Thursday, Sept. 1, starting at noon in the First Unitarian Church's Buchan Room at 1226 S.W. Salmon St. Information is available at (503) 223-4041 or at www.oregonon.org. The speaker will be Dan Saltzman. The group said in a press release that by early September the SB 1533 should be nearly complete. The forum will let people learn more and provide feedback. The policy would allow local jurisdictions to enact a limited form of mandatory inclusionary zoning in private developments.
Blake Carbonatto, vice president of Rush Capital, said Rush recently closed refinancing for Olympic Retail in Gig Harbor with a 10-year fixed-rate loan from a portfolio lender. Rush Capital said it has closed almost $100 million in financing over the last eight months. The Rush Companies design, develop, build and manage residential and commercial projects in the Puget Sound region, with plans to grow along the Pacific Coast.
Jun 16, 2016
Seco Development has promoted two employees. Greg Krape has gone from development manager to president. Derek Janke has been promoted from construction manager to vice president of construction operations. Janke will supervise project teams, plan current and future projects, and be responsible for soliciting contractors and professional service proposals. Seco's current projects include a waterfront hotel and office space at Southport in Renton.
NAI Puget Sound Properties of Bellevue promoted three new partners, bring the total to 19. Dave Douglas, managing broker of NAI's Tacoma office and formerly a senior vice president, joined the firm in 2014 with experience at CBRE, GVA Kidder Mathews and Norris, Beggs & Simpson. He focuses on industrial markets in South King, Pierce, Thurston and Lewis counties. Itzik Mizrahi, formerly a vice president, joined NAI in 2010 and focuses on retail including gas stations and hotels. Wyk Parker, formerly a senior vice president, joined NAI in 2011 after working at Pacific Real Estate Partners, Trammell Crow and Colliers. He specializes in sales and leasing.
SVN/Raven hired Suria Elbietar as a corporate real estate advisor on industrial and office property. She spent 11 years as a property manager and worked with Starbucks on everything from site selection to store openings of 400 to 700 stores per year. She has trained real estate teams in Asia, South America, Europe and the Middle East. Andrew Hunter was also hired as a corporate real estate advisor to focus on office leasing and investment. He worked at Boeing in the capital infrastructure group as a risk management specialist. SVN is a brokerage and leasing company focused on the Seattle metro area. It is affiliated with offices throughout the United States and abroad.
Jun 09, 2016
HFF facilitated the sale of 114 Pike St., which houses Hard Rock Cafe. Urban Visions sold the 92-year-old structure to KLM Equities for $20.75 million. Gerry Rohm, Nicholas Kucha, Nick Kassab and Danny Reddin led the HFF sales team.
Kidder Mathews added Nancy Jameson as a property manager in South Seattle. Jameson will mange 1.2 million square feet of industrial and office space. She has more than nine years of experience, and she has managed eight industrial properties totaling more than 1 million square feet; 11 office properties totaling 1.8 million square feet; and three portfolios totaling more than 2 million square feet. Kidder Mathews has more than 550 employees and 14 offices in Washington, Oregon, California, Nevada and Arizona.
Renters Warehouse, a property management company that helps people rent out their houses, expanded into Seattle last year and now manages about 50 local properties. The Bloomington, Minnesota-based company said its goal is to manage 4,000 houses here by 2019. It will use Seattle as a launch point for a West Coast expansion, with Portland and Spokane as the next likely markets. Since the end of 2014, Renters Warehouse has grown from 15 offices in nine states to 32 offices in 17 states. It manages almost 15,000 houses.
Point B Inc. named David Derr principal in charge of property development, with a focus on health care. Derr has more than 40 years of experience in health care development in the U.S., Europe and the Middle East. Point B is based in Seattle and does development, management consulting and venture investment.