Sep 11, 2014

NBS works on Market Square deal

Mike Wood and Austin Johnson of NBS Financial Services secured $7.4 million in acquisition financing for Market Square, a building at 1415 Western Ave.

A limited liability company that shares a Seattle address with Stream Real Estate and is managed by Stream managing member Tim Cavanaugh bought the six-story, 44,100-square-foot office building last month for $12.4 million.

The seller was an entity related to Goodman Real Estate and a Texas company called 9520 Westminster Glen Avenue LLC.

The structure was built in 1908 and was recently renovated.

NBS Financial is the financing arm of NAI Norris, Beggs & Simpson, a commercial real estate company in Portland.

Redfin expands to Tucson

Seattle-based Redfin has expanded its home buying and selling services to Tucson. Sara Fischer leads the Tucson team as the local Redfin market manager. Fischer started her career as a real estate agent 19 years ago in San Diego. In Tucson Fischer will be responsible for building a team of local agents. Redfin says it was “founded and run by technologists,” and uses online and mobile tools to give customers up-to-date information about the for-sale market.

‘Easements In Washington' Oct. 30

The Seminar Group is holding its third annual Easements in Washington conference Oct. 30 at the Washington State Convention Center. The all-day session will cover new types of easements being sought by government, special valuation issues, and how to protect clients and preserve property rights. Michael A. Nesteroff of Lane Powell and Kinnon W. Williams of Inslee Best Doezie & Ryder are the program co-chairs. For more information, or to register, visit: http://bit.ly/1pNclAM

Sep 04, 2014

Gaming company takes Redmond space

Photo courtesy of CBRE [enlarge]

West Willows Technology Center in Redmond

CBRE helped HighBrook Investment Management and Scanlan Kemper Bard Cos. land a videogame company at West Willows Technology Center in Redmond.

CBRE did not name the company but said it has been looking for space in downtown Bellevue but decided to take 25,000 square feet in Redmond.

PlayNetwork, a customer service company that has been there since 1999, renewed its lease.

The complex is now 87 percent leased. Renovation is under way including work on HVAC, infrastructure, landscaping, exteriors and new outdoor collaboration areas.

RE/MAX opens Bellevue office

Hu

A new RE/MAX franchise is opening at 15015 Main St. in Bellevue. RE/MAX Pacific Realty will have three associates initially and add three more soon. Former software developer Shelly Hu, a broker who specializes in luxury homes and foreign buyers, owns the office. Hu has a partnership with a Chinese real estate advertising site called Fang.com. The office will serve Bellevue, Seattle, Kirkland, Medina, Redmond and Yarrow Point.

Wesley Homes celebrates 70th years

Wesley Homes Retirement Communities and Home Health Services will celebrate its 70th anniversary at an open house Sunday in Des Moines. The company was originally a blueberry farm called Wesley Gardens. It later became Wesley Homes, and now has locations in Des Moines and Auburn, and a home care service. Later this month Wesley Homes will start construction on a new rehabilitation center on its Auburn campus. It has land in Puyallup and Renton where it could build more facilities. Wesley Homes is affiliated with the Pacific Northwest Annual Conference of the United Methodist Church.

Kennedy Wilson buys Tabula Rasa

Kennedy Wilson bought Tabula Rasa, a 118-unit apartment building in Tumwater, for $20.8 million. Kennedy Wilson invested $8 million in equity and got a seven-year, $13.5 million loan from Freddie Mac. Kennedy Wilson has spent $266 million on six apartment complexes in this region, totaling 1,905 units. Kennedy Wilson's multifamily portfolio is 19,500 units, with about 5,000 in the Pacific Northwest.

Pelluer, Hutchins join new Colliers group

Pelluer

Hutchins

Colliers International hired Kim Hutchins and Steve Pelluer as part of a plan to start a nonprofit, religious and educational advisory group. Hutchins and Pelluer ran their own brokerage called Church Property Advisors, which specialized in advising churches, private schools and nonprofit organizations on real estate matters. In their 12 years together, Hutchins and Pelluer have amassed a client list that includes Mars Hill Church, The City Church, Grace Seattle Church, Bear Creek School and Children's Institute for Learning Differences.