Nov 20, 2014
Erin Christensen Ishizaki, an associate principal at Mithun in Seattle, is on Urban Land Magazine's list of “40 Under 40,” the best young land use professionals worldwide. The list was selected by members of the Urban Land Institute from more than 400 nominations. Christensen Ishizaki is an expert in ecodistrict planning and focuses on integrating public health and sustainability in urban planning.
Mike Wood and Austin Johnson of NBS Financial Services arranged $5.6 million in refinancing for Opus Seaway Commerce Center, a 99,222-square-foot manufacturing building in Everett. Rainier Properties bought the building in 2011, and is the borrower. It is now 100 percent leased, with the newest tenant, Giddens Industries, set to move in January. The loan closed in 32 days, Wood said, because Rainier Properties had an existing loan set to mature soon. NBS Financial is part of NAI Norris, Beggs & Simpson, a commercial real estate company in Portland.
Equity Commonwealth tapped CBRE to manage two buildings in downtown Bellevue: The Expedia Building at 333 108th Ave. N.E. and Bellevue Corporate Plaza at 600 108th Ave. N.E. Kim Berg Jones and Beth Halvorsen of the Bellevue office will lead the team for both properties. CBRE is managing 145 Equity Commonwealth properties in 30 states and the District of Columbia. Worldwide, CBRE and its affiliates manage more than 3.5 billion square feet of commercial properties and corporate facilities.
Three Seattle apartment properties owned by TIAA-CREF — Aspira, Circa Green Lake and Prescott Wallingford — were among 17 existing apartment buildings to get Energy Star ratings from the EPA. Previously, only new construction could get the ratings. TIAA-CREF said its sustainability programs have saved more than $75 million since 2007. Energy Star-certified buildings use an average of 35 percent less energy and are responsible for 35 percent fewer CO2 emissions than typical buildings.
Commercial Real Estate Women Seattle & Sound's December luncheon will focus on the federal EB-5 program, which allows people to obtain green cards and a path to American citizenship if they invest at least $500,000 in qualifying real estate projects. The luncheon begins at 11:30 a.m. Dec. 11 at Washington Athletic Club. The moderator will be Dan Shin of Phillips Burgess, and panelists will include Aaron Beeson of Access the USA, Stew Stone of Tri-Cities Investment District EB-5 Regional Center and Jessica Yu of the Seattle law firm Stokes Lawrence. Information and registration are at www.crewseattle.org/
Jeff Stuart of Berkadia's Seattle office arranged $19 million in financing through Freddie Mac for Affordable Housing Associates to buy Tualatin Meadows, a 240-unit affordable housing complex at 18755 S.W. 90th Ave in Tualatin, Oregon. Tualatin Meadows was built in 2000 using low income housing tax credits, and was 98 percent occupied at the time of the sale. The 11-acre complex is about 13 miles southwest of Portland, and has a gym, pool, clubhouse and playground. Berkadia is a joint venture between Berkshire Hathaway and Leucadia National Corp. that works on real estate financing, sales and research.
Nov 13, 2014
Northshore Townhomes sold for $22 million.
Dennis Williams and Brian Esquivel of NorthMarq Capital's San Francisco office arranged $12.5 million in acquisition financing for Northshore Townhomes, an 86-unit apartment complex in Kenmore.
JB Matteson Inc. of San Mateo, California, bought the complex in September from Grosvenor Americas USA Inc. for $22.1 million.
It was originally developed as condos by Mastro Properties in 2009 and later converted to rental units.
Grosvenor bought the complex for $15.8 million in 2010 from a bank that seized the property from Mastro.
Lydia Bennett and Gary Hunter recently graduated from the Certified Commercial Investment Member Leadership Development Academy at the CCIM Institute. Bennett owns CRE West Coast, a consulting and instruction firm, and is a partner at Saratoga Commercial Real Estate. Hunter is a managing broker with Westlake Associates who specializes in court-ordered receiverships, debt restructuring and loan negotiations with banks and other lenders. CCIM Institute says there are 10,000 people worldwide with the CCIM designation.
Jones Lang LaSalle hired retail brokers Anne Marie Koehler and Erika Koehler from CBRE in the retail division. The Koehlers will be vice presidents in the Seattle office, working with Mike Horner and Ryan Jones to expand the retail division in the Puget Sound region. The Koehlers have more than 25 years of experience representing landlords and tenants. JLL says it has more than 800 retail experts in the Americas and is the largest third-party retail property manager in the U.S., with more than 67 million square feet in 350 centers.
Capitol Hill Arts District launches this weekend. Capitol Hill Housing will celebrate the new district at 11 a.m. Nov. 15 at Hugo House, 1634 11th Ave. The district is the first designated under the city's new Arts & Culture Districts program. Speakers at the event include Seattle City Councilmember Nick Licata, Office of Arts & Culture Director Randy Engstrom, Capitol Hill Housing Foundation Director Michael Seiwerath, and artist Amanda Manitach. The program is designed to preserve arts and cultural activities in neighborhoods like Capitol Hill that are undergoing rapid change.