Jul 26, 2018

NorthMarq does $32M refi deal

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Sawyer Trail Apartments

NorthMarq Capital said Bob Spiro secured $32.3 million in refinancing for the 234-unit Sawyer Trail Apartments in the Pierce County town of Frederickson. Financing was through NorthMarq's Fannie Mae DUS program (delegated underwriting and servicing). The owner wasn't named. Tarragon is expanding the complex, adding about 162 units.

Gramor signs lease in Vancouver

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The Waterfront Vancouver

Boutique law firm McKean Smith has signed a lease at Gramor Development's The Waterfront Vancouver complex in Vancouver, Washington. The firm took 3,600 square feet on the fifth floor of the 70,000-square foot Murdock Building, now under construction. Colliers brokered the deal. Terms were not announced. The 32-acre, $1.5 billion project will have 3,300 residential units, 250,000 square feet of retail/commercial space and 1.25 million square feet of Class A offices. A hotel is also planned. Gramor is based in Tualatin, Oregon, and acquired most of the site in 2008 with unnamed partners. Construction began in 2015.

Avenue 55 hires Holcomb

Holcomb

Seattle developer Avenue 55 has hired Spencer Holcomb, an intern with the company who recently graduated from Gonzaga University. Avenue 55 is redeveloping the Ness Cranes property in Ballard to create West Woodland Business Center. It's also planning an industrial building on Compton Lumber's site in the Duwamish area.

Oakpointe names Ten Trails builders

Oakpointe Communities is developing 2,200 acres near Black Diamond for Ten Trails. The subdivisions will be built by Rudd Development, Ichijo Technological Homes, Conner Homes and Lennar. Model homes are open for viewing. Ten Trails could total 6,000 homes by 2030, along with one million square feet of commercial space. Phase I, with about 350 homes, is now underway.

Phytelligence

Todd Raasch joined Seattle-based agricultural biotech company Phytelligence as executive vice president of global sales. Raasch has more than 20 years of sales experience in food and consumer packaged goods, most recently as vice president of North American sales at Cooke Aquaculture's True North Seafood.

Fall Line Capital

San Mateo, California-based Fall Line Capital hired Lindy Widner as regional operations head in Kennewick, where she is focusing on land acquisitions and client relations in Washington, Oregon and Idaho. Widner was senior client relationship manager at Rabo AgriFinance in Richland. Fall Line is a private equity investment fund focusing on improving U.S. farmland through hands-on land management.

F5 Networks

Seattle-based tech company F5 Networks appointed Michel Combes to its board. Combes is CEO of Sprint, and has 30 years of experience in telecom and tech.

Darigold

Seattle-based Darigold is creating an overseas sales, service and distribution network to strengthen international business for Northwest dairies. Darigold has opened offices in Mexico City, Singapore and Shanghai, and will open more soon. Darigold is the marketing and processing subsidiary of Northwest Dairy Association, which is owned by nearly 500 dairy farms.