Apr 09, 2020
During the last 45 days (as of last week), Burrard Group says it's closed sales for 180 of the 389 pre-sold condominiums at its Nexus tower, at 1808 Minor Ave. in the Denny Triangle. The rest are expected to close by the of next month. Broker Erik Mehr said in a statement, “Despite everything going on in the world right now, the Nexus sales team is feeling optimistic about sales. We're seeing that select real estate properties like Nexus are staying fairly resilient, and that's welcome good news, not only for this project, but for the Seattle real estate market in general.” A few condos remain unsold. Because of the coronavirus pandemic, tours are available by appointment only.
Kidder Mathews announced that brokers Steve Pelluer and Kim Hutchins have joined its Bellevue office. They jumped ship from Colliers. The two will join KM's religious and educational facilities group, a sector where many empty churches have been selling of late. Pelluer's name is familiar to those outside the industry, since he played football for the University of Washington and Dallas Cowboys. The two-man team has a past client roster including Salvation Army, Habitat for Humanity, and Downtown Cornerstone Church.
Connect Media has honored several regional brokers among its 2020 Top Broker Awards. Among industrial brokers, Kidder Mathews' team of Matt Wood, Tony Miltenberger and Evan Lugar was so honored. Their 2019 deal volume was 81 transactions worth $195 million. On the investment sales side, KM's Jason Rosauer, Rob Anderson and Kristyn Krueger were also thus anointed. Last year they did $633 million in deals.
Back in December, on behalf of two married investors in California, Moran & Co. sold two older Kent apartment complexes with 361 units for $79 million. Moran's Jeff Williams, Tim Brown, Amy Laramore and Matt Ricci also secured the buyers of both properties (the Royal Firs and Lake Meridian apartments), which were Phoenix Realty Group of New York and partner Hanover Real Estate Investors, of the Bay Area. The sale was a 1031 exchange, and Moran recently helped the California couple find a new property to purchase: the new 130-unit Baxter on Broadway apartments, which are in Oakland. Williams and Brown, with Brett Betzler in Moran's San Francisco office, brokered that $81 million deal. It closed at the end of March, and was worth about $623,000 per unit.
Apr 02, 2020
JLL announced the recent hiring of Matt Skally, who'll become senior VP of project and development services in Seattle and Portland. He makes the move from Nordstrom, where he oversaw store design. JLL's Jacqueline Dompe said in a statement, “Matt brings a high level of energy and progressive thinking to our business. His passion and experience enable him to be laser focused on supporting the ambitions of our teams and clients.”
Kidder Mathews has hired John Cha as director of research, the company announced. He makes the move from Direct Access Capital. The 15-year industry veteran will be based in KM's Seattle office.
Davis Property & Investment has elevated its Lisa Rowe to asset manager. In her new capacity she'll oversee about 5 million square feet of industrial space extending from Seattle to Portland. The industry veteran will also continue with leasing and communications for the company, which she joined two years ago.
Mar 26, 2020
Berkadia recently announced the promotion of Ian Stuart to associate director on its multifamily mortgage lending team. His areas of expertise include commercial mortgage-backed securities, Freddie Mac and Fannie Mae, and HUD lending.
Publicly traded Alexandria Real Estate Equities of Pasadena, California, is a major owner and developer of office and biotech space in the Seattle market. It now has around 1.6 million square feet built or under development here — mostly along Eastlake and in South Lake Union. The company announced this week that it's raising $700 million in a public debt offering. The 4.9% senior notes, due in 2030, will pay down Alexandria's other lines of credit, and be used for general purposes. Among the latter will be the anticipated $143.5 million purchase from the city of its Mercer Mega Block, where two 13-story offices towers and an apartment building are planned on almost 3 acres.
NAI Puget Sound Properties announced that Ryan Olson is now a partner in the brokerage firm, which he joined in 2016. His past deals have included Essex Property Trust, BECU and WaFd (the latest, briefest moniker for Washington Federal).