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People & Companies

May 23, 2024

ULI gathers at RailSpur

If you haven't ventured into the alleyways at RailSpur, in Pioneer Square, our local chapter of the Urban Land Institute is offering an occasion. It's hosting a “Between Two Firs” talk from Pat Foley, of Lake Union Partners, at the Cassette Club. You can find that cozy bike shop (and coffee shop) in the alley at 115 S. Jackson St. Topics may include the nearby and recently opened Washington Park building, a historic renovation project on the waterfront that LUP did with Unico Properties. The event takes place at 5 p.m. Weds., May 29. Details and registration: northwest.uli.org.

NAI Puget Sound Properties



NAI Puget Sound Properties recently announced two new hires. Matt Le makes the move from Marcus & Millichap, where he specialized in self-storage investment sales. At his new perch, he'll join the NAI retail team. And Ally Braden departs Cushman & Wakefield to continue her focus on industrial properties. NAI's Tina Pappas said in a statement, “We are thrilled to welcome Ally and Matt to our Bellevue office. Their enthusiasm and fresh perspectives make them invaluable additions to our team. We are confident that their presence will further enhance our capabilities and client services.”



JLL's Bill Honsaker is moving from its Phoenix office to Seattle, that brokerage recently announced. He's a 35-year industry veteran, with experience up and down the West Coast. His background includes leasing and sales, for both users and investors, in the industrial, tech, logistics, R&D and office markets. He said in a statement, “I'm excited to join our team in greater Seattle and help JLL clients throughout the U.S. and abroad.” JLL's Chris Spofford added, “Bill brings a unique background to the negotiating table, having successfully marketed several million square feet of properties for both private and institutional owners, run seven national corporate real estate portfolios, and served as a commercial property manager. His experience and knowledge allow him to effectively and creatively structure competitive and aggressive transactions.”

Avatar Financial Group


Locally based Avatar Financial Group announced its recent hiring of Richard Caldwell, a 25-year industry veteran who'll remain based in Northern California. There, his focus will continue to be the origination and underwriting of commercial real estate loans, and new business development. He makes the move from Extensia Financial. Avatar's T.R. Hazelrigg IV said in a statement, “As a longtime member of the upper echelon of the industry, Richard is well-versed in both commercial real estate and capital markets, as well as with the decision-making process when it comes to investment and financing.”

May 16, 2024

Walker & Dunlop finds $39M for Kirkland refi

The fairly new 135-unit Bloom, in Kirkland's Rose Hill neighborhood, was developed by Merit Homes. The two-building low-rise complex opened in late 2022. Now that it's up and running, Walker & Dunlop has arranged a $39 million refinancing package, with the money provided by an arm of Bridge Investment Group. (Both firms are based in New York.) W&D's Mark Plenge and Grant Robertson secured the financing, which the firm calls a “maximum-progress, full-term, interest-only, non-recourse debt loan with a flexible prepayment structure.” The new money retired the prior construction loan from Bank of the West. Bloom was designed by Encore Architects, with Pelletier + Schaar as the architect of record. Merit acted as its own builder.



Newmark recently announced that its Charlie Farra has been promoted to executive VP and market leader for Seattle and Bellevue. The 15-year industry veteran has mostly focused on tenant representation. Newmark's Jon Mackey said in a statement, “His proven ability to lead, navigate various market conditions and deliver results for his clients sets him up well to excel in this role.” Said Farra, “We have great momentum to capitalize on in the Puget Sound market and beyond, and I look forward to furthering the connectivity between the West Coast markets while continuing to serve my clients.”







The Tarragon executive team has seen a raft of new promotions, the firm recently announced. Nick Conrad rises to development accountant. Noelan Brewington-Janssen becomes development manager. Pete Johnson is now site operations manager. Grahm Satterwhite rise to the rank of senior development manager. And Seth Warren becomes a development accounting supervisor. Tarragon president Dennis Rattie said in a statement, “These promotions reflect Tarragon's commitment to recognizing and promoting talent within our organization.”

Peek inside the Ocean Pavilion

Come June 12, our local chapter of the Urban Land Institute will conduct a tour of the new LMN-designed Ocean Pavilion, which is nearing final form on the Seattle waterfront. Crews from Turner Construction are in the late stages of work on the 50,000-square-foot aquarium expansion project. It's to feature a 360,000-gallon coral reef ecosystem with about 3,500 tropical fish, invertebrates, sharks and rays. Walk past today, and you can see the translucent tank glowing from within. Next to it, the Overlook Walk is also nearly ready to open this summer. The Seattle Aquarium hasn't yet set an official opening date for the duo. Registration and info: northwest.uli.org.

JPMorgan Chase expands in Seattle

JPMorgan Chase announced the recent hiring of veteran real estate banker Kris Kesterke. He makes the move from US Bank, and his new title is executive director for the Pacific Northwest. JPMorgan's Alex Mast said in a statement, “As a respected leader in the real estate community, I'm thrilled that Kris is joining our strong team; and together, we will continue to bring our industry and local expertise to the Pacific Northwest.”

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