Oct 18, 2018
Back in June, Laconia Development and Chinese partner Vanke announced that the 41-story Spire, now under construction at 600 Wall St., would be condos, not apartments. Realogics Sotheby's International Realty is marketing the 347 units, and the companies now report that the first open house this month yielded 114 reservations worth $125 million. Realogics' Dean Jones said about a third of the condos were reserved quickly “with strong demand at all property types and price points.” He estimates that 25 percent of the pre-sold units were priced at over $1 million. Prices run from about $500,000 to $3.5 million. The sales center will open Oct. 27 at 2218 Fifth Ave. in Belltown.
CBRE has promoted Kim Berg to managing director of asset services for Seattle and Portland. She'll oversee about 48.7 million square feet in all categories. The 17-year industry veteran will remain in the Seattle office, where she recently specialized in the Eastside and Seattle central business district.
Newmark Knight Frank has added seven people to its Seattle valuation and advisory practice. Reporting to team leader Stan E. Wolf will be Nancy Dawn, Dane Armbruster, Joe Dracobly, Chris Mealy, Darnell Ford, Austin Johnson and Devon Preiser. Many of them came from Cushman & Wakefield. Down in Portland, NKF has added Ryan S. Prusse, Jennifer Tillema, John Boyle and Louis Knox to its V&A team.
New York-based lender, investor and advisor Greystone has added Jennifer Cherney to its Northwest team. She makes the move from JP Morgan Chase. Greystone says she's negotiated and closed more than 400 transactions valued in excess of $6 billion, mostly in the multifamily sector. Greystone is active in health care and multifamily finance, with platforms including Fannie Mae, Freddie Mac, CMBS and FHA.
Oct 11, 2018
Windermere Real Estate has formed a new partnership with Seattle-based West Coast Commercial Realty, which is run by the mother/daughter team of Carol Pugh and Tiffini Connell, and specializes in retail leasing. Windermere is mainly a residential broker in Seattle, but president OB Jacobi said it wants to expand further into commercial. Pugh was once a Windermere broker. Since 2004, WCCR brokers have completed transactions on nearly 10 million square feet of retail space statewide.
Direct lender iBorrow said it has arranged a $10.52 million loan for the owners of an unnamed industrial/office building in Arlington. The 244,590-square-foot building is now 84 percent leased. Tenants include an airplane parts supplier. The owners intend to upgrade the property. Based in Los Angeles, iBorrow has a local office in Ballard. CEO Brian Good said, “We are bullish on these types of properties throughout the country.”