May 05, 2016
Newland Communities hired Steve Yester to manage commercial real estate for Tehaleh, the 4,700-acre master-planned community it is developing in Pierce County. Yester will focus 420 acres that could house as much as 4 million square feet of retail, office, industrial, civic or multifamily space. He will work with developers, brokers and others to bring jobs to Tehaleh, which could have up to 9,700 residences. Yester has 20 years of experience and was chief development officer for Point Ruston, a mixed-use community on Commencement Bay in Tacoma. Newland is based in San Diego and bills itself as the largest private developer of planned communities in the U.S.
The Washington chapter of NAIOP is holding two events this month: one on the Washington State Convention Center expansion and another on the South Sound real estate market. Matt Griffin of Pine Street Group, development manager for the WSCC project, will discuss the project. The event starts at 7 a.m. May 18 at Four Seasons Seattle. The South Sound event is a collaboration with Commercial Real Estate Women Seattle & Sound, and will have a panel moderated by Cathleen Meyer of Deutsche Asset Management. Panelists are: Jim Jensen of Berkadia, Travis Hale of Panattoni, John Bauder of CBRE and Kyle Prosser of First Western Properties. The event begins at 7:30 a.m., May 24 at Pacific Grill & Events Center, 1530 Pacific Ave. in Tacoma.
HFF said it arranged the sale of 1411 Fourth, a historic building in downtown Seattle. An entity related to Mack Real Estate Group sold the 15-story, 123,430-square-foot office building to an entity related to Onni Group for $29.6 million. Nick Kucha and Nick Kassab led HFF’s sales team representing Mack Real Estate Group. Mack will focus on multifamily projects in Seattle, through its affiliate Mack Urban.
Apr 28, 2016
Alison Lorig has joined Bridge Housing as senior vice president of development for the Pacific Northwest. She was president and co-owner of the Seattle-based developer Lorig Associates and Lorig Management Services, the property management division. Lorig oversaw more than $500 million in projects and helped create more than 650 units of affordable housing for local nonprofits. Bridge Housing is a nonprofit developer based in San Francisco that has worked on more than 16,000 units in California and the Northwest.
HFF hired Brian Hanson in Portland as a director focused on multifamily housing and middle market sales in the Pacific Northwest. Hanson last worked at ScanlanKemperBard Cos. as a vice president and also worked at Massey Knakal Realty Services. HFF has 22 U.S. offices and offers debt, equity, investment, advisory and loan services.
Tim Ufkes of Berkadia's Seattle office and Jim Jensen of the Tacoma office negotiated the sale of two Tacoma apartment complexes with 136 units. The combined sale price was $9.3 million, or approximately $68,015 per unit. They are The Vintage, an 84-unit property at 518 S. Seventh St. built in 1929, and Pennington, a 52-unit complex at 702 Martin Luther King Jr. Way built in 1931. The buyer was Orbeth LLC of Seattle, and it plans to renovate units and common areas in both properties.
Commercial Real Estate Women Seattle & Sound's May lunch meeting is titled “Amy & Luly: Two paths to power,” and it begins at 11:30 a.m. May 19 at Washington Athletic Club, 1325 Sixth Ave. Amy Price, president and COO of Bentall Kennedy, and Luly Yang, founder and CEO of Luly Yang Couture, will talk about their careers and how they rose to the top of their respective industries. For more information, or to register, visit: goo.gl/h8dnrE
Apr 21, 2016
Wallace Properties added John Rochford as a vice president focused on office and industrial leasing. Rochford brings 28 years of experience in real estate and technology. He last worked at Coast Sperry Van Ness, and began his real estate career in the Baltimore/Washington, D.C., area in 1988, before moving to Seattle in 1992 and working in the technology industry for 13 years. In 2005, he joined NAI Puget Sound Properties. Wallace Properties is based in Bellevue, and offers brokerage, investment, development and property management services.
Seattle-based HomeStreet Bank promoted Bill Endresen to lead a new division that combines the firm's commercial real estate lending and operations teams. Endresen replaces Randy Daniels, who the bank said left to pursue other interests. Endresen joined HomeStreet in March 2015 as executive vice president of the commercial capital division, which provides loans up to $10 million for multifamily, office, retail and industrial properties. HomeStreet was founded 96 years ago, and offers construction loans, residential and commercial mortgages, as well as banking, insurance and investment services.
Vera Minar is the new chief investment officer of Columbia Pacific Wealth Management, and will oversee strategy for Columbia Pacific Advisors, an affiliated company that is developing projects in Seattle. Minar was a director of Stanford University's endowment, helping grow it from $14 billion to $25 billion. Columbia Pacific Wealth Management and Columbia Pacific Advisors are part of a group of companies. Columbia Pacific Advisors manages more than $1 billion in alternative investment strategies, including real estate. Columbia Pacific Advisors is developing a 24-story senior care community on First Hill and a 16-story apartment tower with a Whole Foods Market on Capitol Hill.
Ron Peterson and Scott Gilson of NorthMarq Capital's Seattle office arranged $19.23 million to refinance Coug Housing Portfolio, a 367-unit student housing property near Washington State University in Pullman. The portfolio includes 13 non-connected parcels near WSU. The refinance allowed the owner to pull three undeveloped parcels out of the portfolio. NorthMarq Capital has 36 offices across the country and a loan portfolio of more than $47 billion.