Apr 02, 2015

JLL adds new industrial team VP

Jones Lang LaSalle hired David Cahill to help lead the growing industrial team. Cahill will be a vice president in Bellevue, joining veterans Les Boudwin and Scott Carter. Cahill comes from CBRE, where he was Rookie of the Year in 2010. Cahill has represented tenants and landlords, and he has experience in sales. JLL said it is adding Cahill because the industrial market is strong. Demand is high, vacancies continue to drop and rents are rising.

NAIOP forecast: Is the sky the limit?

A panel of brokers will make predictions about the future of Seattle's booming real estate market at a NAIOP forecast meeting called “Is the sky the Limit?” starting at 7:30 a.m. April 15 at Four Seasons Seattle. How long will this boom will last and what happens next? Patrick Callahan, CEO of Urban Renaissance Group and Touchstone, will moderate the panel, which includes Parker Ferguson of Flinn Ferguson, Maria Royer of Real Retail, Steve Schwartz of Jones Lang LaSalle and Matt Wood of Kidder Mathews. For more information, or to register for the event, visit: https://naiopwa.memberclicks.net/breakfast-meetings

HDC luncheon April 30

Housing Development Consortium will hold its seventh annual Celebration Luncheon April 30 at the Washington State Convention Center. Eugene Robinson, a long-time columnist for The Washington Post, will talk about diversity and equity in the United States. For more information, or to register, visit: http://bit.ly/1NJQXuY

Mar 26, 2015

NBS gets financing for The Douglas

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Mike Wood and Austin Johnson of NBS Financial Services arranged $18 million in permanent financing for The Douglas, 81 units of student housing with 259 beds at 1223 E. Cherry St. near Seattle University. NBS represented the lender, Nationwide Insurance. NBS Financial is part of NAI Norris, Beggs & Simpson, a real estate company in Portland.

Metzler promotes Franceschina, Paddock

Paddock

Franceschina

Metzler Real Estate promoted Steven A. Franceschina to chief operating officer and Matthew Paddock to senior managing director. Franceschina will oversee Metzler's $3 billion in U.S. real estate assets. Paddock will work on West Coast acquisitions, and oversee the U.S. real estate fund. Metzler is a real estate investment company based in Seattle. It is the North American affiliate of B. Metzler seel. Sohn & Co., the oldest private bank in Germany.

McAvoy hires 2

Beaumont

Ahrens

McAvoy Real Estate, a Seattle-based condo sales company, hired Larry Ahrens and Chanell Williams-Beaumont to work on the sales team for Luma, a 24-story, 168-unit condo on First Hill. Lowe Enterprises and Swedish pension fund Alecta are the developers. The building is under construction, and sales are expected to begin in April. Ahrens worked at TeamBuilder KW and represented MainVue Homes. Ahrens worked at Schnitzer West, Windermere OnSite and Miller Condominium Marketing. Williams-Beaumont worked at Coldwell Banker Bain, Marcus & Millichap Real Estate Investment Services in Encino, California, and Realogics Sotheby's International Realty in Seattle.

Red Lion opens Eugene hotel

Spokane-based Red Lion Hotels Corp. has converted a hotel at 599 E. Broadway in Eugene, Oregon, to Red Lion Inn & Suites. Red Lion will upgrade rooms and the gym. AA Hotel Management Co. will manage the property. Red Lions officials say they plan to grow to 100 hotels in 100 weeks. The company has 56 hotels, 38 of which are franchised.

Berkadia does deals in Tacoma, Portland

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corp., negotiated apartment sales in Tacoma and Portland. Kenny Dudunakis of the Seattle office and Jim Jensen of the Tacoma office negotiated the sale of Eagles Landing Apartments, a 230-unit property in Tacoma, for $18.5 million, or $80,435 per unit. Goodman Real Estate was the buyer. Phil Oester and Joe Nydahl of the Portland office negotiated the sale of Westover Tower Apartments in Portland's popular Alphabet District. The 70-unit building was 95 percent leased when the sale closed last month. No price was given.