Oct 30, 2025

A bit more about that Runberg-Mio deal

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HB Management developed the 40-unit Mio apartments back in 2016, before Roosevelt Station opened nearby. Weinstein A+U designed the four-story project, which was built by Constantine Builders. This month came a partial change in ownership at 1319 N.E. 65th St., which was incorrectly reported by others. Via an LLC, HB sold a 50% stake in the project — not the entire building — to Selkirk Ridge LLC, in a deal the county recorded at just under $6.2 million. Selkirk Ridge is an investment vehicle for the Runberg family, separate from Runberg Architecture Group, which is of course led by Brian Runberg. Brokering both sides of the deal were Tanner Fogle and Will Douglas at Paragon Real Estate Advisors. Public records indicate a loan from JPMorgan Chase. Excluding the retail, the deal was worth about $310,000 per unit.

Northmarq

Vara

Northmarq announced last week that it has hired a five-member sales team from Marcus & Millichap. The squad is led by RJ Vara, and also includes Matt Herman, John Marks, Mike Babicz, Jack Hinchcliffe and McKinnon Smith. Their focus will be primarily on the office and industrial sectors. Northmarq's Sean Tufts said in a statement, “We're excited to welcome RJ and his team as we continue to build a best-in-class investment sales platform nationwide.” Vara added, “Northmarq's privately held structure and national platform give us the freedom to focus entirely on clients, and the leadership is committed our success.”

Gantry delivers $6M refi for Bothell retail

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On the north end of Bothell, next to a Fred Meyer, is the six-building Canyon Park Commons, at 21105-21129 Bothell Everett Hwy. There, Gantry recently announced, it has arranged a $6 million refinancing package to the original owner and developer of the retail complex, Business Property Development LLC, which is also based in Bothell. Minnesota Life Insurance was the lender, per Snohomish County records. Developed during the past dozen-plus years, six buildings have 31,000 square feet, and they're fully leased to tenants including Verizon, Red Robin, Panera Bread, Chipotle and KeyBank. Gantry's Stefan Malmlund, Peter Welsh, and Claire Jones led the effort. The fixed-rate note has a five-year term. Malmlund said in a statement, “The subject property has experienced strong historical operating history and was identified as a perfect candidate to secure a conservative loan for the sponsor's business plan.”

Oct 23, 2025

Get ready for Emerging Trends!

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If you haven't already registered, here's a reminder. The annual Emerging Trends confab, hosted by ULI Northwest, takes place on Nov. 19. Among the speakers will be Mike Wilkerson of ECONorthwest, Mark Katz from JLL and Jaime Zadra of PGIM Real Estate. This year's venue is the Fairmont Olympic Hotel, with the start time at 2:30 p.m. Details and registration: northwest.uli.org

Avatar Financial Group

Tarte

Commercial real estate lender Avatar Financial Group has added to its ranks with the recent hiring of Jim Tarte, that firm announced this week. The CPA and industry veteran makes the move from the SaaS platform. Avatar's TR Hazelrigg IV said in a statement, “Jim's financial leadership is grounded in both precision and perspective. He brings a proven ability to navigate complex capital environments, support strategic growth, and build the kind of financial infrastructure that inspires investor confidence.”

Broderick Group

Cantrell

Broderick Group recently announced its hiring of Tim Cantrell as an associate broker, to be based in Bellevue. He's a recent UW grad, and Broderick says of the fresh talent, “Tim completed two commercial real estate internships, gaining hands-on experience in market analysis and transaction management. His background has equipped him with a strong foundation in navigating complex leasing scenarios and delivering data-driven insights.”