Aug 18, 2011

Mackay Restaurants

Mackay Restaurants Group promoted Molly Schachter to communication coordinator for El Gaucho properties in Bellevue, Seattle, Tacoma and Portland; Waterfront Seafood Grill; and the Inn at El Gaucho. Schachter joined the company in June of 2010 as an intern in the private dining department before being hired as private dining sales associate.

Bellevue Rotary Club

Alan Fulp, executive vice president and chief lending officer with Core Business Bank, is president of the Bellevue Rotary Club. He has been programs chair, membership chair and president-elect, and plans to focus on attracting younger members.

Association of Washington Business

The Association of Washington Business gave Ron Bueing its Bruhn Award. Bueing is the chair of AWB's Tax and Fiscal Policy Committee. He has been with Deloitte Tax for 20 years. The award recognizes board members who improve AWB and the state's business climate.

Washington State Bar Association

The Washington State Bar Association said Nancy Isserlis of Spokane has been elected treasurer for 2011-12. Isserlis works at the law firm of Winston & Cashatt, where her practice focuses on bankruptcy and commercial law issues.

KeyBank

KeyBank will open Aug. 29 at 7830 N.E. Bothell Way in Kenmore. The 3,900-square-foot branch will be Key's 164th in Washington. From 2009 to 2012, the bank plans to build 20 branches and remodel more than half of its Seattle area branches.

Columbia Hospitality

Seattle-based Columbia Hospitality has a new management and operational agreement with Knob Hill Inn in Ketchum, Idaho. A group of investors with ties to Idaho are buying the inn, which has been on the market for more than two years. Investors include John Oppenheimer, CEO of Columbia Hospitality; Fred Crosetto, CEO of Ammex Corp. in Kent; Dwayne Clark, chairman and CEO of Aegis Living of Redmond; and Robert Cimino, CEO of Plaza Provision Co. of San Juan, Puerto Rico. The inn has 26 rooms and suites.

Legacy Partners and Mesa West

Mesa West Capital has funded a loan to recapitalize an office portfolio that includes the Seattle Post-Intelligencer Building, and Buildings C and E in Quadrant Willows Corporate Center in Redmond. Legacy Fund II, a $457.9 million discretionary co-mingled investment fund of Legacy Partners and Brookfield Asset Management, received $90 million from Mesa West to recapitalize a six-property portfolio. The new non-recourse loan and additional capital provided by Brookfield, was used to purchase debt back at a discount and put new debt in place to stabilize the properties. The assets were acquired by Legacy Fund II in 2007, and have a occupancy rate of 70 percent. Mesa West Principal Steve Fried originated the financing.

Marcus & Millichap

George Miller of Marcus & Millichap in Seattle represented the King County Housing Authority in its $3.56 million acquisition of Island Crest Apartments, a 30-unit property at 3030 81st Place S.E. on Mercer Island. Records list the seller as an LLC managed by Pui Au of Mercer Island. Rich Walker of Marcus & Millichap represented K & O Investment Co. LLC in the $1.65 million acquisition of the 24-unit Colony Park at 2028 W. Meeker St., Kent. Records list Donald and Helen Owens of Mercer Island as LLC managers.

Coast Sperry Van Ness

Sperry Van Ness International, the national real estate firm affiliated with Coast|Sperry Van Ness of Everett, awarded Coast Senior Adviser Josh Jansen the Partner's Circle Award, the company's highest sales award.

Berkadia Commercial Mortgage

Louis Weisman of Berkadia in Seattle originated an $8.75 million, 80 percent loan-to-value loan for the 60-unit Olympic Square Townhomes in Gig Harbor. The 4.8-acre property has 5,380 square feet of retail. The loan has a 10-year term with 30-year amortization and was financed through Freddie Mac's Capital Markets Execution program.

Grubb & Ellis

Grubb & Ellis sold Daymark Realty Advisors to a joint venture controlled by Sovereign Capital Management Group and Infinity Urban Century, and now has exited the tenant-in-common business. Grubb & Ellis has been considering selling the entire brokerage firm, and the Daymark sale was considered a condition of this. Earlier this year, Grubb & Ellis said it was looking into a possible sale or merger. Grubb has a Seattle office.