Sep 17, 2020
Gantry announced the recent provision of a nearly $5.6 million, 10-year loan to refinance an industrial property in Woodinville. The borrower, an LLC related to Underwood Gartland Development of Bellevue, is the owner of a 71,750-square-foot industrial building at 8415 216th St. S.E. The building is fully leased to Bio-Rad Laboratories, a global leader of life science research and clinical diagnostic products. Gantry's Michael Wood and Colin Ceithaml secured the funding. Wood said in a statement, “State Farm stepped up for a repeat borrower and put forth a great non-recourse quote with a 30-year amortization and lower rate than competitive lenders. It helped that the property is home to an investment grade tenant, because that checks off a big box for lenders seeking to hedge against risk in today's COVID-19 environment.”
Industry veteran Peter Ostrander announced that he's joined the Belltown office of Realogics Sotheby's International Realty (RSIR). Ostrander said in a statement, “For over 35 years I have established a career in real estate through sales, marketing, title insurance, and mortgage origination. I'm thrilled to announce that I've started a new journey as a real estate broker.”
Sep 03, 2020
Lee & Assoc. opened a Seattle office four years ago. Since then, the brokerage has gradually been gaining traction in our market. But on Tuesday, the firm announced its biggest coup to date: Stuart Williams has taken his three-person team from Kinzer Partners and over to Lee. (Williams and his team had previously been at JLL, before joining Kinzer in 2018.) Coming with the industry veteran Williams, one of the region's top brokers, are Adrienne Hunter, Alex Muir and Elizabeth Schalka. Williams said in a statement, “Legitimate and willing buyers are sizing up opportunities to invest in a market that promises to correct once the COVID-19 situation subsides.” Jim Bowles, who leads Lee's Seattle office, said, “When we first opened our office in 2016, we knew that we wanted to focus on all aspects of the commercial real estate brokerage business, including and especially the commercial investment arena.” Williams will lead its Northwest investment division.
Senior housing developer Revel Communities, which is based in Scottsdale but is active in our region, has named two new executives. Ginni Ryan is now senior VP of operations. She makes the move from Milestone Retirement Communities. Industry veteran Danette Opaczewski is now COO and executive VP of resident experience; she was previously with Sydell Group. Revel is a division of Wolff Co., whose Jay Petkunas said in a statement, “Both Danette and Ginni bring the perfect balance of experience to diversify our executive team. We have every confidence they will help us raise the bar in senior living.” Meanwhile, the company expects to open the 146-unit Revel Issaquah this fall (pictured), and another community in Kirkland next year.
Kidder Mathews announced a new director of research, Gary Baragona, who'll work out of its San Francisco office. He makes the move from CBRE. Seattle, where KM is headquartered, will of course be part of his remit. He said in a statement, “I have watched the firm rapidly expand into multiple West Coast markets, including the Bay Area and, more recently, Southern California. After I learned about the firm's extensive investment into their research and data platforms, joining Kidder Mathews became a very compelling choice for me to make.”