Dec 03, 2020
Lee & Associates recently announced that veteran broker Ted Wood had joined the firm. He makes the move from Capstone Commercial Real Estate Advisors. He'll continue to specialize in the multifamily market, also with an emphasis on Snohomish County. The 20-year industry veteran began his career at Cushman & Wakefield in Los Angeles.
Avenue 55 announced the August hiring of Nicholas Yawman as a new development associate. He'll focus on industrial and mixed-use projects. His prior experience was in underwriting and due diligence for a commercial mortgage-backed securities (CMBS) firm.
Nov 19, 2020
Savills announced a recent addition to its Seattle team. Eric Lonergan and Brian Kelly are joining the firm as executive managing directors; they made the jump from Washington Partners, after 20 years with that firm. Richard Schuham of Savills said in a statement, “Eric and Brian have sterling reputations and will not only bring exceptional client service skills but also a proven track record of building and maintaining a positive and productive culture.” They're bringing along associates Justin Johnson, Colton Teglovic and Trixie Tubb. The team is known for commercial tenant advisory services, with past clients including T-Mobile, Wells Fargo, Brooks Sports and Expedia. Said Lonergan, “Joining Savills enables us to provide our clients with a wider range of relevant consulting resources, access to innovative technologies and thought leadership and a global reach.”
Berkadia recently announce the move from CBRE of six top performers: Jay Timpani, Mitchell Belcher, Steven Chattin, Chad Blenz, Robert Doxsee and Michael Manolides. The first four bring ample experience in investment sales, while the latter two specialize in mortgage banking. Berkadia's Keith Misner said in a statement, “Seattle and the Northwest remain among the most dynamic and robust multifamily markets in the country. This is how we'll continue to expand our footprint, particularly with clients looking for private capital opportunities, where Jay, Mitchell and Steven truly excel.”
Urban Renaissance Group announced the retirement of chief investment officer John Bliss, who'll be succeeded in that role by Matthew Simo. The changeover will take place in January. Company CEO Patrick Callahan said in a statement, “John's leadership has been critical to URG's growth and current position in the marketplace. He has played a major role in URG's success.” During his 11 years with the firm, Bliss helped with deals including 2014 acquisition of Touchstone. He'll remain on the board of URG. Simo's been with the firm since 2006, when it was founded. He said, “I look forward to deepening our capital relationships and furthering URG's track record of making strategic investments that positively benefit the company and communities we invest in.”
Local firm Thayer Manca Residential has secured a little over $26 million in refinancing for its Circ Apartments in Albuquerque, the firm announced. The 10-year Freddie Mac loan caries a fixed rate of 285%, with full-term, interest-only debt service. TMR acquired the 264-unit property two years ago for an undisclosed amount. Previously called Ventana Canyon, the Circ has undergone $4.1 million in renovations. Joe Manca said in a statement, “The New Mexico market continues to show great economic strength. We are excited to continuing providing inspired workforce housing for this dynamic community.” TMR also recently acquired the 200-unit Ottavo Apartments and the 280-unit Mirabella Heights.
Weingarten Realty Investors of Houston recently announced that it has secured new tenant Pacific Dental Services for its Queen Anne Marketplace in the Uptown neighborhood. Terms were not announced. The practice opened in its new 2,388-square-foot space this week, replacing a prior medical clinic. PDS is based in California, and led by Stephen Thorne; it now has about 800 offices in 23 states. The local lease was negotiated by Weingarten's Andy Armstrong and, on the tenant side, David Merisko of Mattis Partners. The popular Lower Queen Anne shopping complex is anchored by Bartell and Metropolitan Market.
The Washington Multifamily Association said that was recently honored by the National Apartment Association for its efforts in member engagement. In its NAA nomination packet, the WMFHA cited efforts last year including “easy ways for members to use their voice for advocacy efforts, roadshows to bring information directly to associates on the front lines of our industry, a member orientation program, and a new Leadership Lyceum program aimed at building up future leaders of our industry.” Membership grew by nearly 19,000 units and 132 member organizations during 2019. Facebook likes were also up 26% year-over-year.
Puget Sound Business Journal has named Kidder Mathews' Bill Frame as one of its “Power 100.” This summer he transitioned from president and COO to chief executive officer. The industry veteran has been with KM for 28 years. The Power 100 spans all industries, and its honorees also include Satya Nadella, Bill Gates, Jeff Bezos, Erik Nordstrom and Howard Schultz.