Feb 16, 2012

Matrix Real Estate

Gildersleeve

Larry Gildersleeve joined Matrix of Seattle to lead development activities. He will focus on securing single- and multi-family listings, alliances and new markets. He co-founded the Excell Group, a residential real estate brokerage, and was managing director of The Ryness Co.'s Washington and Oregon divisions. Matrix specializes in sales and marketing of new single-family, townhouse and condo projects, as well as marketing for new apartments.

ATREG

Seattle-based Advanced Technology Resource Group, an adviser to the semiconductor industry, said it advised Integrated Device Technology in the sale of its semiconductor manufacturing plant in Hillsboro, Ore. Alpha and Omega Semiconductor Limited of Sunnyvale, Calif., bought the wafer fab and related assets. The 25-acre campus includes a 50,000-square-foot cleanroom and space for expansion.

Holliday Fenoglio Fowler

HFF arranged an $85 million refinancing for a 22-property portfolio totaling about 3 million square feet in seven U.S. markets, including Seattle. HFF worked for the borrower, an affiliate of a real estate fund managed by Oaktree Capital Management L.P. and Cohen Asset Management, to secure the five-year, fixed-rate loan through a correspondent life insurance company. HFF will service the loan. The portfolio consists of 20 industrial and two office properties. Tenants include Amazon.com. Paul Brindley and John Crump led the HFF team that put the deal together.

Is Bellevue right for NBA arena?

The Bellevue Downtown Association is holding a 7:30 a.m. breakfast forum Feb. 28 at the Westin Bellevue about efforts to bring professional men's basketball and hockey teams to the Seattle region. Topics will include whether Bellevue might be an attractive location for an arena. The event will feature Brian Robinson of ArenaSolution.org, and Craig Kinzer of Kinzer Real Estate Solutions. Register at bellevuedowntown.org.

Feb 09, 2012

Coast|Sperry Van Ness

Schwarzmiller

Zach Schwarzmiller joined Coast|Sperry Van Ness in Everett as an adviser. He works with buyers and sellers of South Snohomish County apartment properties with fewer than 25 units.

Seattle King County Realtors

Puls

Wolf Puls, a broker at Windermere Real Estate's Yarrow Bay office in Kirkland, was elected 2012 president of the Seattle King County Realtors. The group has more than 5,000 members and is the local board of the National Association of Realtors.

CBRE Capital Markets

Jim Rice and Nick Santangelo of the Portland office of CBRE Capital Markets arranged a $25 million loan to finance acquisition of a 304-unit apartment complex in Kent. The loan was through Freddie Mac's Capital Markets Execution program. The borrower, a joint venture between Holland Partner Group and HPK Multifamily Limited Liability Co., obtained a loan at 80 percent of value/cost, with a 10-year, fixed-rate term at just over 4.2 percent, including two years of interest-only payments. The property sold for $31.5 million and has been renamed Water's Edge.

Marcus & Millichap

Marcus & Millichap Capital Corp. arranged an $8.4 million cash-out refinancing for an unnamed Kent apartment complex. Glenn Gioseffi of Marcus & Millichap's Seattle office, arranged the loan. He said the owners bought the property on a bank contract two years ago. Gioseffi said his office is seeing a number of lender-owned buildings being sold with bank notes. The notes are generally short term and often require the owner to refinance into longer-term debt. The $8.4 million deal is amortized over 30 years with a fixed interest rate of 4.1 percent. The loan-to-value is 70 percent.

Bellevue Towers

The sale of 13 condos last month in Bellevue Towers means that half of the units now have been sold. Three of the condos sold for more than $2 million. Original prices at the 539-unit complex have been reduced by an average of 30 percent, with some prices cut as much as 40 percent. Remaining units include studios and one-bedrooms, with prices starting in the $300,000s. Two-bedroom units are priced in the $600,000s and penthouses start at $2 million.

Reverse mortgage workshops

Learn about reverse mortgages in a free workshop that will presented four times next week in the Tacoma area. Pierce County Community Connections Aging & Disability Resources is the sponsor. A reverse mortgage counselor is among the presenters. The hour-long workshop will be on Monday at 12:10 p.m. at the county annex, 2401 S. 35th St., and at 7 p.m. in the Soundview Building, 3611 S. D St. On Wednesday, it will be presented at 12:10 p.m. at the County City Building, 930 S. Tacoma Ave., and at 7 p.m. at the University Place Library, 3609 Market Place W. More information is available by calling (253) 798-4600 or (800) 562-0332.