Feb 09, 2017

Mission Capital Advisors

Ray

Hotel Deca in the University District was sold last month for $44.6 million by LaSalle Hotel Properties to AJ Capital Partners. The hotel will be renovated and rebranded as the Graduate Seattle. National firm Mission Capital Advisors said that it secured $100 million in debt financing to acquire and convert both the Deca and a Minneapolis hotel to the Graduate brand. In a statement, MCA's Jordan Ray said, “People like the concept of an amenitized hotel that has a fun local vibe and is situated on or near a campus. The [Graduate] brand is already becoming a household name.” AJ Capital will renovate the 158-room Deca over the winter of 2017-2018, including converting the penthouse suites to a rooftop bar. The hotel opened in 1931 as the Edmond Meany Hotel.

Ryan Companies

Jordan

Phoenix-based Ryan Companies has hired Bret Jordan, a veteran broker from Colliers, to lead the new office it is opening in Seattle. Ryan is a national real estate company with 1,300 employees in 13 offices, and is active in all sectors of the market. Jordan has 27 years of experience in real estate, the last eight at Colliers. Ryan regional president Rick Collins said in a statement, “Bret's experience in real estate brokerage, development and investment, along with his strong reputation and relationships in the greater Seattle community, create an opportunity for growth of our Northwest region.”

Colliers

Colliers promoted Derek Heed to managing director of its Bellevue office. He has been with the firm since 1995, involved in leasing about five million square feet and over $250 million in sales. Colliers said last year Heed completed 70 transactions. He will work closely with partner Gregg Riva in the Bellevue office.

NAIOP

NAIOP's Feb. 15 breakfast will tackle the subject of capital markets, asking “Are we headed for a correction?” Panelists will be David Young of Jones Lang LaSalle, Dean Rostovsky of Clarion Partners, James Payne of U.S. Bank and Tom Pehl of CBRE, looking at rising debt costs, peaking property cycles, interest rates and President Trump's economic policies. The event starts at 7 a.m. at Four Seasons Seattle. Info and registration are at naiopwa.org. NAIOP Washington was just named chapter of the year by the national organization.

Feb 02, 2017

Washington State CCIM

Armanious

The state Certified Commercial Investment Member chapter has elected new officers and directors. The president is Michael Armanious of KW Commercial in Tacoma. Joining him are board members Derek Doke of Barclays Realty & Management, Christopher Bornhoft of Windermere Real Estate and Chad Gleason of SVN/Raven.

Redfin

Bateman

The Seattle-based online brokerage firm is entering the mortgage business with Redfin Mortgage, and intends to begin issuing loans in the first half of the year. Initial markets will be Austin, Dallas, Houston and San Antonio. Redfin said its ultimate aim is an all-digital approach that integrates lending with its brokerage and title businesses. CEO Glenn Kelman said, “We'll track every aspect of the closing in a single system used by mortgage advisers, real estate agents, title experts and the customer, so everyone works together on an on-time closing.” Redfin Mortgage's Dallas office will be led by Jason Bateman, formerly with BBVA Compass.

CREW

Commercial Real Estate Women Seattle & Sound's February luncheon topic is retrofitting historic buildings for new uses, and the speakers will look at several recent and planned projects. The event starts at 11:30 a.m. Thursday, Feb. 9 in the Motif hotel ballroom (1415 Fifth Ave.). Speakers are Courtney Ryan of Urban Villages Inc., Geralyn Vannoy of Vulcan Real Estate, and Kelly Robertson and Andy Clinch, both from Perkins + Will. Urban Villages is retrofitting three marquee buildings on a block in Pioneer Square: The Manufacturer's Building at 419 Occidental Ave., Westland Building at 100 S. King St., and the former Schoenfeld Furniture building at 115 S. Jackson St. Vulcan's projects that will be discussed are the Allen Institute and the Troy Block. Registration and info at: crewss.memberclicks.net.

Realogics Sotheby's International Realty

RSIR will sponsor a second issue of the Mandarin-language real estate magazine Seattle Luxury Living. Tiger Oak Media, which publishes Seattle Magazine, will again partner in the venture. In a statement, RSIR president Dean Jones said, “The premier edition in 2016 was so successful, we ran an encore edition in September distributing 30,000 copies in print and more than 70,000 digital editions via Wechat download. The Seattle area is the fastest-growing market among mainland Chinese seeking education, investment and immigration opportunities in North America.” The magazine will be distributed at SeaTac, hotels and other locations, and the digital edition will be on Wechat. Since Vancouver imposed a 15 percent tax on foreign buyers last year, Jones said inquiries about Seattle on the real estate portal Juwai.com are up 66 percent.