Dec 08, 2016

NorthMarq Capital

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Bridges at Northcreek

The Denver office of NorthMarq said David Link and Brian Fisher arranged $93 million in acquisition financing for the 524-unit Bridges at Northcreek in Bothell, which sold in October for $145 million. Kidder Mathews' Giovanni Napoli and Philip Assouad brokered the sale on behalf of seller Grosvenor Americas, and Denver-based Griffis Residential was the buyer. In a statement, Link said, “The financing was arranged for the borrower, a long-term client of the Denver office, through NorthMarq Capital's Fannie Mae program. The loan was a 10-year full term interest-only transaction.” NorthMarq said it is the largest privately held commercial real estate financial intermediary in the U.S., with a loan portfolio of over $47 billion.

SEPA & NEPA Seminar

It's time for Law Seminars International's 14th annual SEPA & NEPA Seminar, which will be held Friday, Jan. 13 at Washington State Convention Center. The program chairs are Rodney L. Brown of Cascadia Law Group and Richard L. Settle of Foster Pepper. Environmental and land-use topics will include greenhouse gases and climate change, all-terrain vehicles in the Methow Valley, and housing affordability. Registration and info: lawseminars.com or (206) 567-4490.

Dec 01, 2016

ULI Northwest

Urban Land Institute has announced the details for its annual holiday social (for ULI sponsors only), which will be held from 4:30-6:30 Tuesday, Dec. 13 on the top floor of the 40-story Premiere on Pine at 1525 Ninth Ave. Fabulous views and holiday cocktails will be served. RSVP at northwest@uli.org or (206) 224-4500.

McAvoy Real Estate

A week after reporting that Luma condominiums on First Hill had only two of 168 units remaining, McAvoy and co-listing agent Red Propeller said those last two units have sold. Luma was developed by Lowe Enterprises of Los Angeles, with the Swedish pension fund Alecta as a financial partner. It was completed in September. Weber Thompson was the architect and Lease Crutcher Lewis was the contractor. The entire sales process took 18 months, said McAvoy.

Bosa Development

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Bosa has announced a name for the 21-story condominium it plans in Bellevue at the southeast corner of Bellevue Way Northeast and Northeast Second Street: One88. Three levels of underground parking are planned, with the residential tower set on a podium of four or five stories. Bosa says One88 will have about 143 units as well as penthouses, and 21,000 square feet of retail/commercial space. Vancouver-based Amanat Architect is designing it, with interiors by Hirsch Bedner Associates. A start date in 2017 is planned. Bosa bought the 52,000-square-foot site in 2015 for $22.8 million. Meanwhile, Bosa's two condominium towers in Belltown — the 707-unit Insignia — are over 90 percent sold.