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Feb 02, 2023
JLL announced its recent hiring of Rajeev Thakur, who joins the location strategy group as senior managing director. He makes the move from BeyondHQ, and had a prior stint at Newmark. Joe Smurdon runs the location group, and said in a statement, “We are excited to add Rajeev to our vibrant team. His industry knowledge and unique background provide an unparalleled.” Said Thakur, “I look forward to working with the professionals at JLL and continuing to deliver outstanding outcomes.”
Following a $4.6 million land deal this week at 2123 18th Ave. S. on Beacon Hill, StoryBuilt is planning a 44-unit townhouse project it calls Sumie. It'll replace one house on a full block on the north end of the hill. The developer and builder hopes to break ground this summer, with completion in 2025. The firm's Patrick Cobb said in a statement, “We believe this is a great site because of the big east-facing views, the walkability to light rail, shops and restaurants, and the shared community spaces. Beacon Hill is a vibrant urban neighborhood with excellent parks and access to downtown Seattle.” Units will range from one- to three-bedroom townhouses, with prices likely to start in the low $500,000s, then range up to $1 million or so. The developer is meanwhile nearing a master use permit on its 197-unit Josephine in Columbia City.
Our state chapter of NAIOP has a new executive director: Mary Eversole. She makes the move from Pierce County Medical Society. She said in a statement, “I am thrilled about this opportunity to help grow and develop our state. I look forward to working closely with
the board of directors and strengthening our relationship with the community.”
Marcus & Millichap Capital said it recently arranged a $4.1 million bridge loan for the unnamed buyer of the Powerhouse Villas duplex portfolio in Yakima. The five-year-old complex has 24 units. M&M's Tammy Linden secured the funding, and its Zachary Howe brokered the deal from three separate sellers. (The aggregate purchase price wasn't disclosed.) Linden said in a statement, “The bridge financing we arranged provides them time to reposition the asset.” The note comes with a 10% interest rate, with a 12-month period of interest-only payments.
This month's NAIOP breakfast meeting, come Feb. 15, will focus on senior living. On hand to discuss that market will be a panel including Steve Knipp, Noelle Cooper of Lane Powell, Walter Zisette of Providence and Brian Palmore of Aegis Living. (The latter's Aegis Laurelhurst, pictured, has topped out near that neighborhood.) The event begins at 8 a.m. at the Grand Hyatt Seattle. Details and registration: naiopwa.org.
In a global alliance, Berkadia and Knight Frank recently announced a new relationship. The former is mainly a broker, and the latter mainly a consultant. Berkadia CEO Justin Wheeler said in a statement, “Berkadia's depth of industry knowledge and experience will flow seamlessly with Knight Frank's vast global network and valuation expertise to shift our transaction life cycle into high gear.” Knight Frank's William Beardmore-Gray added, “Together, we have created an alliance focused on our clients' needs, providing strategic advice and delivering a range of best-in-class capital markets solutions.” The deal, not a merger, will span 558 offices worldwide, with over 22,750 professionals in their ranks.
Washington Trust Bank added Kevin Bedlington to its commercial banking team in the north Puget Sound region as vice president and relationship manager. Bedlington brings over 22 years of experience in the financial industry, having worked in commercial lending at other western Washington financial institutions since 2001. Bedlington attended Washington State University, where he earned a bachelor's degree in agricultural economics. He also holds an MBA in finance from Hawaii Pacific University. He is involved with numerous community and professional organizations including the American Bankers Association, Lighthouse Mission Ministries Foundation and Risk Management Association. Washington Trust Bank is an independently owned full-service commercial bank, serving the Northwest region since 1902. Headquartered in Spokane, Washington Trust Bank currently has over 40 branches and offices in Washington, Idaho and Oregon.
The Seattle City Council and Mayor Bruce Harrell have proclaimed 2023 to be the Year of Community Gardening in honor of the P-Patch Community Gardening Program's 50th anniversary. The P-Patch Community Gardening Program, managed by the Seattle Department of Neighborhoods, is the largest municipally managed community gardening program west of New York. Community gardeners grow food, flowers, and herbs on 15 acres of land across the city of Seattle and provide stewardship for an additional 35 acres. All P-Patch gardens are open to the public to enjoy and are utilized as restorative spaces, learning and idea incubators, and venues for community gatherings.
Vancouver-based ZoomInfo, a global provider of modern go-to-market software, data, and intelligence, appointed Ali Dasdan as chief technology officer and Dave Justice as chief revenue officer. Dasdan joins ZoomInfo from Atlassian, where he was the head of engineering for work management. Dasdan will oversee the company's innovation and development efforts, including leading the product-led growth organization focused on bringing the ZoomInfo platform to more users. Nir Keren, ZoomInfo's chief technology officer since 2015, will be leaving the organization. Justice, who will join ZoomInfo on Feb. 6, served as chief revenue officer of PagerDuty for the past three years. He previously held senior sales positions at Salesforce and Cisco.