May 26, 2022

CBRE arranges $32M for SLU reno

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As the DJC first reported in April, Swift Real Estate Partners paid nearly $40 million for a 40-year-old office building in South Lake Union — generally called 425 Pontius. CBRE represented the seller in that deal, and now the broker has announced an additional $32.5 loan for renovations to the exterior lobby, elevators, and common areas. (No architect or contractor have been tipped.) Jeff Henderson secured the loan, working with Mike Walker and Brad Zampa in CBRE's San Francisco office. Bank of the West made the loan. Walker said in a statement, “We were thrilled to partner with Swift Real Estate again, as they add to an already impressive portfolio of well-located office buildings throughout the Pacific Northwest.”

Seyfarth

Sutton

Seim

Seyfarth announced that two attorneys formerly with Summit Law Group have joined the firm. Both have long experience in real estate matters. Courtney Seim is a specialist in eminent domain, easement issues, title disputes and practices environmental law. Ian Sutton focuses mainly on commercial real estate transactions and development. Paul Mattingly leads Seyfarth's real estate department. He said in a statement, “Courtney and Ian are tremendously skilled lawyers with substantial experience in all of the environmental facets of property development. As we continue to see more development projects across the country, their practices will flourish on Seyfarth's premier platform.”

New tenants for Village at Totem Lake

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CenterCal Properties recently named some new tenants coming to its renovated, expanded Village at Totem Lake. Some have been previously announced. The roster now includes Serious Pie (the pizza operation of Tom Douglas), the restaurant hanoon, LaserAway, Purple, Rion Fine Jewelry, Pure Barre, Rudy's and Umigawa Sushi. Ray Chavez manages the 26-acre mixed-use development. He said in a statement, “We are excited to welcome many new businesses. We're now nearly 90% leased, and look forward to welcoming even more guests this summer.”

Panattoni

Goodsell

David Goodsell has been elevated to Seattle development manager at Panattoni, the firm recently announced. The portfolio for the industry veteran will include land procurement, entitlements, leasing and management.