Jul 21, 2016
Van Ness Feldman hired Josh Krebs as an associate in the real estate practice group, handling transactional matters for purchasers, sellers, developers, landlords, tenants and lenders. He negotiates purchase and sale agreements, leases, and other agreements, and counsels clients on residential and commercial property.
CREW is holding its First Annual South Sound Wine Tasting on Thursday, July 28, from 5 to 7 p.m. at Tacoma Yacht Club, 5401 N. Waterfront Dr. in Tacoma. Members cost $25 and non-members are $35. Walk-ins (member or non-member) are $40. Information is available from email@example.com, www.crewseattle.org or by calling (206) 417-5580.
The real estate investment company Kennedy Wilson said it purchased a 430-unit property in Auburn for $81 million. The company invested $19 million and secured a 10-year loan of $62.6 million through Freddie Mac at a fixed-rate of 3.63 percent to acquire Belara at Lakeland. It was built in 2006 on a 40-acre site in Lakeland Hills, a master-planned community, with a clubhouse, fitness center, outdoor pool and playground. The firm has an office in Seattle and is based in Beverly Hills, California.
A section of Eastlake Avenue between Denny Way and Court Place has been re-named for Bill Hobson, the former executive director of DESC who died earlier this year. Hobson was the driving force behind 1811 Eastlake, an innovative project that houses 75 men and women with chronic alcohol addiction. It was controversial initially but has become a national model and has won multiple awards. The building has a new address: 1811 Bill Hobson Way. DESC provides permanent supportive housing to more than 1,200 tenants.
Urban Land Institute's Young Leaders Group Cascadia Regional Conference starts Friday in Vancouver with experts from across the region addressing current issues in development, urban design, planning and finance. The keynote speaker is Mark Gilbreath, founder and CEO of LiquidSpace and there will be a panel discussion about 21st Century Cascadia with Gabriel Grant, principal at Spectrum Development Solutions, on the panel. Tours include Vancouver's central business district, densification in the Cambie Corridor and a look at retrofitting suburbia with transit oriented development. The agenda and registration is at britishcolumbia.uli.org.
Jul 14, 2016
24 Hour Fitness in Portland’s Pearl District
CBRE Capital Markets' Debt & Structured Finance team secured $21.2 million in non-recourse financing for two retail/gym properties in Oregon: 24 Hour Fitness in Portland's Pearl District and 24 Hour Fitness in suburban Tualatin. Financing was arranged for an entity owned and controlled by Metro Commercial Realty. The loan term is 15 years and the interest rate is 3.64 percent.
Union Street Corporate Real Estate hired Nate White as a broker in Seattle. He has nine years of commercial real estate experience. Union Street was founded in 2015 by Derek Hermsen to represent office tenants.
Seattle City Council confirmed the appointment of Dr. Paula Houston and David Moseley to at-large positions on Seattle Housing Authority's seven-member board of commissioners. Houston is CEO of Sound Generations in Seattle and was executive director for Meredith Mathews East Madison YMCA. Moseley was assistant secretary to the Washington State Department of Transportation Ferries Division.
Denver-based HREC Investment Advisors said it arranged the sale of the 148-room Best Western Agate Beach Resort in Newport, Oregon, to an affiliate of Vesta Hospitality, which owns and operates U.S. resorts and hotels. Mike Armstrong and Mike Cahill represented the private seller. Armstrong said Vesta plans a multi-million-dollar upgrade for the hotel, which is on Highway 101 west of Portland and Eugene.