Oct 27, 2011

CBRE

Photo courtesy of CBRE [enlarge]

Capco Plaza has 157 apartments and a QFC.

Capco Plaza in West Seattle has closed a $38 million long-term fixed rate loan. David Stinebaugh of CBRE's Capital Markets Debt & Equity Finance arranged financing on behalf of the owners, Capelouto Development Co. and Allstate Life Insurance Co. The 8-story complex has 157 apartments and 62,800 square feet of retail anchored by QFC. It opened in 2010 and is at 4100 S.W. Alaska St. Capco is in a city's program that exempts it from some property taxes in exchange for keeping 20 percent of the units at affordable rates. Hewitt designed the project that Chinn Construction built.

Capital-E and Appraisal Institute

A new report outlines ways to finance $150 billion a year in energy efficiency projects that could yield double-digit financial returns. Capital-E, with support from real estate groups including the Appraisal Institute and 10 large banks, wrote the report called “Energy Efficiency Financing: Models and Strategies.” It says that within 10 years investment at this level would save U.S. businesses and households $200 billion annually and create more than 1 million new full-time jobs. The report that is at http://tiny.cc/i2yvq.

NAIOP meeting in Lacey

NAIOP will host its first Thurston County breakfast Nov. 3 at 7:30 a.m. at 8100 Freedom Lane in Lacey. Scott Spence, Lacey's new city manager, will talk about his vision for the city. Register by emailing jillanne@naiopwa.org.

Commercial Realtors Education Day

The Washington State Commercial Association of Realtors will hold Education Day Nov. 3 at the Bellevue Hilton Hotel, 300 112th Ave. S.E. The daylong event starts at 8:15 a.m. Continuing education credits are available. Information is at wscar.com or by calling 1 (800) 275-2522.

Free webinar on ‘greening' buildings

There will be a free, 50-minute webinar at 1 p.m. Nov. 3 on how to make commercial buildings more energy efficient. The webinar will focus on “retro-commissioning” buildings. Energy management company SCIenergy is presenting the Sustainable Industries webinar. Register at http://tiny.cc/jhxub.

Starbucks exec at CREW meeting

Brenda Godfrey, vice president of global store development for Starbucks, will speak at the Nov. 10 lunch of Commercial Real Estate Women at the Washington Athletic Club in Seattle. She'll talk about renovating stores, testing new store concepts and adapting stores to different cultures. Register at crewseattle.org.

Oct 20, 2011

HRG is now Bellwether

Housing Resources Group changed its name to Bellwether Housing. Officials say the new name better reflects the nonprofit's role as an affordable housing developer. Bellwether means something that influences or sets trends. Bellwether Executive Director Sarah Rick Lewontin said, “We recognize that it's time for us to raise awareness of what we do in the community.” Bellwether manages 29 buildings with 1,800 apartments in Seattle, providing housing for 3,000 people.

Hendricks & Partners

Hendricks & Partners' Kenny Dudunakis and Marty Leith brokered the sale of the 23-unit Clar-Ann Apartments at 2001 Eastlake Ave. E. The 1957 property sold for $2.97 million. Hendricks & Partners negotiated for the seller, a limited liability company managed by Phyllis Pulisevich of Seattle. Records list the buyer as an LLC affiliated with Gramor of Seattle.

HREC and Rochdale

HREC Investment Advisors and Rochdale Capital Advisors have created Hotel Debt Trader, with Real Capital Markets as the technology partner. At the website hoteldebttrader.com users can work with people from HREC and Rochdale to sell loans by marketing them through a “reverse inquiry” to a limited number of buyers.

Matrix Real Estate

Matrix Real Estate is conducting its annual survey of the Seattle-area real estate market. The anonymous survey for renters and homeowners takes about five minutes to complete. The survey is at http://tiny.cc/873qz.

Washington Realtors

The Washington Association of Realtors, the Washington State Office of the Attorney General and others have produced a video that explains homeowners' rights under the new state Foreclosure Fairness Act. Under the law, homeowners facing foreclosure may have the right to meet with their lender and demand mediation to attempt a modification of their loan. The three-part video is at http://WArealtor.vidmeup.com. More than 10,000 Washington state homes were in foreclosure during the first half of 2011 and another 76,400 homeowners are “seriously delinquent” on their mortgages.

Night of the Stars

NAIOP's Night of the Stars awards gala is at 6 p.m. Nov. 4 in the Bellevue Hyatt Regency. Winners of a dozen awards, from Developer of the Year to Commercial Interior of the Year, will be announced. Developer of the Year nominees are Harbor Properties, Vulcan Real Estate and Teutsch Partners. Deal of the Year nominees are Seventh & Madison/Polyclinic, the Columbia Pacific industrial portfolio, and the third phase of the UW Medicine Research complex. Register at naiopwa.org.

Urban Land Institute's Emerging Trends

Charles DiRocco of PricewaterhouseCoopers will be keynote speaker at the Urban Land Institute's 2012 Emerging Trends breakfast program at 7:30 a.m. Nov. 9 in the Sheraton Seattle. There will be a presentation on the Emerging Trends publication and a panel discussion moderated by Judy Runstad of Foster Pepper. Panelists are Brian Fritz of AvalonBay Communities, Jim Gallagher of Cornerstone Real Estate in San Francisco and Douglas Howe of Touchstone Corp. Register at seattle.uli.org or by calling 1 (800) 321-5011.