Apr 26, 2012

WSU School of Hospitality

Washington State University's School of Hospitality Business Management is working with four Seattle companies — Emeritus Senior Living, Leisure Care/One Eighty, Aegis Living, and Merrill Gardens — to bring executives to Pullman to teach students about running retirement communities. The class also includes field trips to Seattle, mentorships and scholarships. More information is at youtube.com/watch?v=rvoncmoocbw.

Fairplay Financial

Kirkland-based Fairplay Financial acquired Sound Mortgage, a privately held mortgage bank in Federal Way with business in Washington, Oregon, California and Hawaii. Sound Mortgage will keep its name and staff, and provide take-out financing for investors who acquire properties at foreclosure auctions with bridge loans. Sound Mortgage last year funded 738 loans totaling $180 million. Fairplay said this is part of its plan to move into new markets.

John L. Scott, BDR Homes

BDR Homes is a new client of TeamBuilder John L. Scott. BDR's is building Allegro, 41 townhouses near the Columbia City light rail station. The sales center opened earlier this month. BDR is the developer and contractor, and Weber Thompson is the architect.

Newmark Realty Capital

Newmark Realty Capital arranged permanent financing of $91 million on a portfolio of 13 retail properties in the Seattle area for a private investor. Public records list the investor as Panos Properties of Seattle. The 500,000-square-foot portfolio includes four grocery-anchored centers and neighborhood retail. Michael Taylor, Dan Lowen and Patrick Taylor in Newmark's Seattle office arranged the financing through Principal Real Estate Investors.

NBS Financial Services

NBS Finance Officer Jeff Henderson arranged $16 million for the PPE Building, a 93,500-square-foot office property in Tumwater. He also arranged a $10.3 million loan for the I-5 Technology Center, a 98,850-square-foot office building in Federal Way. Henderson said most lenders that NBS represents are looking to increase investments in the Northwest.

NWMLS

The Northwest Multiple Listing Service unveiled its first mobile application that lets brokers navigate the MLS system software using iPad, iPhone and Android devices. The NWMLS expects to add BlackBerries soon. Members can search listings using GPS or different search fields, and can connect to mapping, navigation and email. A “spotter” feature shows previewing information on nearby listings. The app was developed with feedback from brokers. MLS officials say they're researching other apps.

CREW meeting on Sodo

There will be a discussion about the future of the Sodo area at the May 10 CREW lunch at the Washington Athletic Club in Seattle. Greg Smith of Urban Visions, Henry Liebman of American Life and Jim Reinhardsen of Heartland are the speakers. Register at crewseattle.org.

Apr 19, 2012

Marcus & Millichap

Marcus & Millichap Real Estate Investment Services named Joel Deis sales manager in Seattle. A member of the University of Washington 2001 Rose Bowl team, he worked for an office tenant representation company in San Francisco and a Seattle developer. He joins fellow Sales Manager Hamid Panahi, who began working here earlier this year. The Seattle office has two sales managers because the firm sees potential for growth here. Deis and Panahi report to Justin White, vice president in charge of the Pacific Northwest region. White wants to double the size of the Seattle staff.

DeLisle wins ICSC award

Jim DeLisle, director of graduate studies at the University of Washington's Runstad Center for Real Estate Studies, won an International Council of Shopping Centers' Research Award. He became active with ICSC in 2000, working on a research task force, editing the Journal of Shopping Center Research and presenting at conferences. He received the ICSC Trustees Distinguished Service Award in 2008.

The Andover Co.

Industrial broker Maryann Yanni joined The Andover Co. She was with Colliers International.

A10 Capital

A10 Capital has completed a $100 million bond offering and closed an equity investment deal with an affiliate of HIG Capital, a global private equity investment company. HIG's investment gives A10 up to $100 million of additional equity capital. Boise-based A10 is a nationwide lender that makes loans in Seattle, specializing in small- to middle-market mini-perm commercial mortgage loans. A10 focuses on $1 million to $10 million loans, and will finance unstabilized properties on a non-recourse basis. Moelis & Co. was A10's adviser and placement agent on the equity deal.

All Property Management

Seattle-based All Property Management has exclusive listing agreements with Condo.com and Rentlist.com. The alliances provide investors and property owners with access to its database of more than 2,000 property managers across the country. All Property CEO Reggie Brown, a former Microsoft executive, said the need for property managers is growing as investors buy single-family units as rentals. Walk Score and All Star Directories founder Mike Mathieu, also a former Microsoft executive, bought All Property Management in 2010.

Coworking LLC and 2020 Engineering

2020 Engineering and Coworking LLC said they have opened the first coworking space in Bellingham. The space is called The Pond and is in the Wellspring Building at 814 Dupont St. It has six stations with a desk and file cabinet. The $225 monthly fee includes utilities, conference room and kitchen, and some services such as printing. Jesse and Mark Buehrer own 2020, and Renata B. Kowalczyk is a cofounder of Coworking LLC. Mark Buehrer designed desks for The Pond and they were built by Hammer Time Carpentry. Preparing the space cost less than $2,000, and setting up wireless networks cost less than $1,000.

New CCIM website

The Washington State Chapter of CCIM launched a new website at CCIMWA.com. It was designed and developed by Applied Imagination Media, and has a blog for members to contribute news, ideas and opinions. CCIM stands for Certified Commercial Investment Member.

Realtor Nationwide Open House

Several hundred homes in King County will be part of the April 28-29 Realtor Nationwide Open House. Active listings in the county are down 34 percent from a year ago. The goal of the Seattle King County Realtors is to double or triple the number of open houses on a typical weekend. The Washington Association of Realtors estimates 7,000 homes will be open for tours.