Jul 17, 2014

CBRE brokers $229M apartment sale

Photo courtesy of CBRE [enlarge]

Carriages at Fairwood Downs

CBRE Capital Markets represented Berkshire Property Advisors in a $229 million sale of three apartment complexes with 1,514 units in Washington and Colorado to TruAmerica Multifamily. The sale includes Carriages at Fairwood Downs, a 400-unit complex in Renton that TruAmerica bought for $61.8 million in June.

Kevin Geiger and Malcolm McComb of CBRE Capital Markets represented Berkshire. Dan Woodward, David Potarf and Matt Barnett of CBRE's Denver office assisted in the Colorado transactions. Jon Hallgrimson, Eli Hanacek and Frank Bosl of CBRE's Seattle office worked on the Renton transaction. Brian Eisendrath of CBRE's Los Angeles office arranged $168 million in financing for TruAmerica.

TruAmerica is a joint venture between Robert E. Hart, former president of Kennedy Wilson Multifamily Management Group, and The Guardian Life Insurance Co. of America. It plans to spend up to $30 million renovating the apartments, which were built in the 1970s and 1980s.

CREW offers leadership series

Commercial Real Estate Women Seattle & Sound is gearing up for its second CREW leadership series. There will be eight monthly sessions between September and April, focusing on topics such as communications, networking, making a pitch, management versus leadership, teambuilding and developing a brand. Registration deadline is July 31. For more information, or to register, visit: http://bit.ly/1jPXvO8

KBS gets new tenants for Plaza Buildings

KBS Strategic Opportunity REIT said it has signed several tenants for about 18,500 square feet in the Plaza Buildings, a complex in downtown Bellevue with 490,000 square feet in two buildings. Trevor Youngren of Cushman & Wakefield represented Pointmarc in a 10,736-square-foot lease; Justin Johnson of CBRE represented Applause in a 3,215-square-foot lease and Tailored Mail in a 2,261-square-foot lease; and Bob Hentges of Advisors NW represented Alten in a 2,226-square-foot lease. Tim Owens, Scotta Ashcraft and Tom Bohman of CBRE represented KBS. The Newport Beach, California, firm bought the Plaza Buildings this year for $186.5 million.

Jul 10, 2014

NBS promotes Johnson

Johnson

NBS Financial Services named Austin Johnson associate finance officer. Johnson came to NBS Financial in 2013, after working as an investment analyst intern at Trammell Crow Co.'s Seattle office and a research analyst at Colliers International in Bellevue. NBS Financial Services is the financing arm of NAI Norris, Beggs & Simpson, a Portland-based commercial real estate company.

NAIOP event July 16 on TODs

The Washington chapter of NAIOP's July 16 breakfast meeting will focus on transit-oriented development in Seattle. The panel begins at 7:45 a.m. at the Four Seasons. John Hempelmann of Cairncross & Hempelmann will facilitate the discussion by Rachel Smith of Sound Transit, former Seattle City Council Member Richard Conlin, Jill Sherman of Gerding Edlen, David Hewitt of Hewitt Architects and Clyde Holland of Holland Partner Group. For more information, or to register, visit: http://bit.ly/1svx6ER

ULI Cascadia Conference in Portland

The Urban Land Institute Northwest Cascadia Regional Conference is in Portland July 18 and 19. The event is organized by ULI's Young Leaders Group and will have panel discussions on financing, affordability, and tours of projects that combine jobs, housing and transit. Dan Miller, co-founder of real estate crowdfunding site Fundrise, is the keynote speaker. The online registration deadline is July 17. For more information or to register visit: http://on.uli.org/1kCGzFo

Glossip is VP at Madison Marquette

Madison Marquette Retail Services promoted Tory Glossip to vice president of property management in Seattle. Glossip will oversee management of 1.5 million square feet of retail in the state, including sites in Seattle, Bellevue, Issaquah, Lynnwood and Lake Forest Park. Glossip has been with Madison Marquette since 2007 and has more than 15 years of experience managing housing, office and retail. Before coming to Madison Marquette, Glossip was a property manager at Alliance Residential. Madison Marquette does development, leasing and property management, with 10 offices across the country including West Coast locations in Seattle, San Francisco, Los Angeles and Del Mar, California.