Nov 17, 2011

NEEA and Unico Properties

Photo courtesy of Unico Properties [enlarge]

Some office space in Portland’s Commonwealth Building is LEED platinum certified.

Offices occupied by the Northwest Energy Efficiency Alliance in the historic Commonwealth Building in Portland have been certified LEED platinum. Lighting systems use 53 percent less energy and plumbing systems use 44 percent less water than traditional office space. Unico Properties of Seattle owns the building and worked with the tenant on certification. Also on the team: Brightworks, Ditroen Inc., Colliers International, Convia Inc., Green Building Services, Herman Miller, Lloyd Johnson Consulting, Luma Lighting, Pacific Office Furnishings, Russell Construction, SmithCFI, Steelcase and WGS Interiors. Pietro Belluschi designed the Commonwealth, which was built in 1948. It was a green pioneer, with a double-glazed window system and heat pumps for heating and cooling.

Marcus & Millichap

Glenn Gioseffi of Marcus & Millichap in Seattle arranged a $7.1 million purchase loan for a 75-unit garden-style apartment property in Renton. He had to do it in 35 days because the property was scheduled to be auctioned by a lender. The state also held a second lien on the property. Marcus & Millichap got foreign tax and bank statements on behalf of the buyers. The nonrecourse loan is for 30 years with 30-year amortization, a fixed 4.65 percent interest rate and 75 percent loan-to-value.

Escala

The team marketing condos at Escala in downtown Seattle say more than 51 percent of the units have been sold so it has received full FannieMae approval, which will reduce down payments from 30 percent to 5 percent. It also increases lending options and access to lower interest rates. Rennie Marketing Systems is marketing the 269-unit project, and TeamBuilder John L. Scott is handling sales. Lexas Cos. and RREEF Global Opportunity Fund own the 30-story tower.

Hendricks & Partners

Robert DiPietrae of Hendricks & Partners graduated from the Jay W. Levine Leadership Development Academy, a program established by Certified Commercial Investment Members. DiPietrae and 13 other CCIMs from across the country participated in academy activities throughout the year. DiPietrae specializes in low-income multifamily investment sales.

Realogics Sotheby's

Carleen Gosney is a new broker at the Bainbridge Island office of Realogics Sotheby's International Realty.

CBA Commercial Real Estate Insights

The Commercial Brokers' Association's 15th annual Commercial Real Estate Insights breakfast is at 7 a.m. Dec. 2 at the Grand Hyatt in Seattle. Speakers are Blake Eagle, founder of National Council of Real Estate Investment Fiduciaries; green development expert Jerry Yudelson; and Washington state attorney general and gubernatorial candidate Rob McKenna. Register at commercialmls.com. The DJC is a breakfast sponsor.