Feb 23, 2017
Homewood Suites in Richland
Newmark arranged financing for an $11.7 million loan facility for a new Homewood Suites in Richland. Newmark's Demetri Koston (in Spokane) and Skip Slavin (in Seattle) put the deal together, assisted by Michael Heagerty of Newmark's main office in San Francisco. The loan carries a 10-year fixed rate with a 25-year amortization period. The 115-room hotel was completed in 2015, and serves business travelers and tourists.
Kidder Mathews has acquired Alden Management Group of Costa Mesa, California, in its second major deal this month. Terms weren't disclosed. Alden manages office, industrial and retail properties. The firm will merge into Kidder's Irvine office and take the Kidder name. In a statement, Alden founder Andrew Zimbaldi said, “We've had a handful of firms interested in acquiring our company, but Kidder Mathews impressed us as having the most complete scope of services to benefit our clients and the most attractive environment and platform for our employees.” Zimbaldi will become senior vice president. Kidder CEO Jeff Lyon said this is “a great opportunity for both firms to grow.” Kidder also merged with Los Angeles-based Heger Industrial, which specializes in the industrial market. Kidder now manages over 45 million square feet, with a staff of over 650 in 20 West Coast offices.
Newmark Grubb Knight Frank hired Mike Schreck to help launch its Bellevue office. NGKF is a global real estate company with 400 offices in established and emerging markets on six continents. Schreck leaves Colliers to become executive managing director at NGKF. He has over two decades of experience with clients including Talon Private Capital, Hines, TIAA, and Embarcadero Capital Partners. Schreck has leased or sold over 21 million square feet. NGKF's Chuck Seufferlein said, “We are thrilled to have him establish our Bellevue market coverage.”
Tacoma Urban League and city of Tacoma are presenting a free workshop called “Let's Build Wealth: A Real Estate Workshop.” In a statement, the city's Community and Economic Development Director Ricard Noguera said, “Tacoma's housing market is sizzling right now. Whether you're looking into real estate as a profession, or one of many revenue streams, you won't want to miss this exciting, non-traditional workshop.” It takes place at Tacoma Urban League, 2550 S. Yakima Ave., at 9 a.m. Wendesday, March 25. RSVP to email@example.com or (253) 591-5142.
NAIOP said Zillow economist Skylar Olsen will give a presentation on residential real estate at its March 15 breakfast meeting. Topics include pricing trends for sales and rentals, apartment development in the CBD, changing demographics and how national politics could affect the local market. The event starts at 7 a.m. at Four Season Seattle (99 Union St.). NAIOP will also have a St. Patrick's Day mixer and networking event at Kell's (1916 Post Alley) at 4:30 p.m. Thursday, March 9. Registration and details for both events: naiopwa.org.
Feb 16, 2017
JLL announced the hiring of Ray Allen as a managing director in the Seattle office. Previously with Marcus & Millichap, Allen will specialize in debt financing for JLL. JLL's David Young said Allen's financing experience helps position the firm as a market leader in the Pacific Northwest. JLL said analyst Valerie Weatherly and associate Drew Heitstuman have joined the firm's capital markets division.
Kim Gray has been promoted from director to VP of human resources at Coldwell Banker Bain|Seal. She joined CBBS in 2011. She is responsible for 31 branches in Washington and Oregon, as well as Rainier Title and Escrow Professionals.
Northwest Multiple Listing Service has elected a new chairman and two new board members. Coldwell Banker Bain's John Deely is chairman. He is based in Pierce County and has almost 30 years of experience in the field. New to the 15-member board are Jason Wall, a broker and owner of Seattle's Lake & Company Real Estate; and Robert Wasser, from Seattle-based Prospera Real Estate. NWMLS has a membership of nearly 2,100 offices and over 25,000 individual brokers. It publishes sales reports and statistics.
The Seattle chapter of AIA will hold an urban design forum next week on HALA and the so-called “grand bargain” that seeks to create affordable housing in exchange for allowing taller buildings. Speakers will be Rick Mohler of Mohler + Ghillino Architects and Marty Kooistra, executive director of the Housing Development Consortium. The event starts at 5:30 p.m. Wednesday, Feb. 22 at the Center for Architecture & Design, 1010 Western Ave. RSVP for the free event at aiaseattle.org.
The national real estate advisory group Meyers Research has announced a new local hire at the vice president level. Analyst Deanna Sihon moves over from Land Advisors, bringing 16 years of experience in the field. She'll be based in Seattle while reporting to Meyers' Beverly Hills headquarters. Meyers is part of the publicly traded real estate investor Kennedy Wilson.