Jan 03, 2002

Recession and the apartment market

Mike Scott, Doug Pederson, Tracy Edgers, Mike Kuntz, John Pfister and Greg Laycock will speak at a symposium about the direction capital will take in the Northwest apartment market. The event is scheduled for Thursday, Jan. 24, from 9 a.m. to 2 p.m., in the Columbia Tower Club atop the Bank of America Tower in downtown Seattle. Scott is a principal in the apartment research and consulting firm of Dupre + Scott. Edgers is a lender with KeyBank. Laycock works as an apartment broker for Cushman & Wakefield. Dupre + Scott, KeyBank and Cushman & Wakefield organized the event. Pederson is an economist with Conway Pederson. Kuntz is a lawyer with Foster Pepper & Shefelman. Pfister works with Chicago Title. The event is called "Capital Directions: Northwest Investment Strategies." For information, contact Patricia Leonard at (206) 521-0260.

Merrill Gardens buys two more

The Seattle senior housing operator Merrill Gardens closed out the year with buying two complexes from Health Care REIT of Toledo, Ohio.

The purchases bring Merrill Gardens to owning and operating 61 communities totaling 6,100 units in 15 states. Assisted Living Today says that makes Merrill Gardens the second largest private senior housing company in the country and the eighth largest overall.

The two complexes bought from Health Care REIT, each of about 130 units, are in Austin, Texas, and Mesa, Ariz. Both complexes are less than two years old, Merrill Gardens said.

American Property Financing

American Property Financing's Seattle office, headed by Louis Weisman, issued an $8.5 million permanent loan on a Boise, Idaho, apartment complex, the 204-unit River Pointe. Freddie Mac promptly bought the 20-year loan, Weisman said. River Pointe was built two years ago

Dec 27, 2001

Susan Murphy will speak to CREW

Susan Murphy will talk about the area's largest office landlord, Equity Office Properties Trust, "and the role women play in the organization" at the next lunch meeting of Commercial Real Estate Women Northwest. Murphy is Equity's vice president for leasing in the region, covering 14.3 million square feet of leasable space from Portland, Ore., to Anchorage, Alaska. The CREW lunch is scheduled for noon on Thursday, Jan. 10, at the Washington Athletic Club in downtown Seattle.

Then on Thursday, Jan. 24, Peter Shorett and Curt Ghan of Kidder Mathews & Segner will give CREW their outlook for 2002. That event will start at noon in the conference room of the Norton Building in downtown Seattle. Shorett heads Kidder's appraisal division. Ghan is a seasoned office broker who put in a stint as head of Kidder's downtown Seattle office.

Two new leaders for Home Street Bank

Joan Enticknap moved from 23 years at Bank of America to become president and chief operating officer of the 30-branch Home Street Bank in Seattle. Simultaneously, Bruce Williams rose from president and COO to CEO. The bank totals $1.5 billion in assets.

"This is an ideal time for Bruce Williams to continue in the tradition of his father and grandfather as a third-generation CEO of our company," said bank chairman Richard Swanson, who relinquished the CEO title to Williams. "And we are very pleased to welcome Joan Enticknap, whose experience and leadership will accelerate the development of our retail and business banking products and services."

Williams said the bank plans to "remain independent and employee- and family-owned."

Williams and Swanson are brothers-in-law. Also, Williams' sister, Kathryn Williams, is the bank's senior vice president for community relations.

Bruce Williams worked as a commercial litigation lawyer for Perkins Coie in the 1980s. After serving in the U.S. Peace Corps in Liberia form 1988 to 1990, he became the bank's general counsel and executive vice president.

Enticknap was BofA's executive vice president for commercial banking, and had been the bank's chief financial officer. She served as chair of the public facilities district that built Safeco Field and is on the board of directors of the Fred Hutchinson Cancer Research Center.

Marcus & Millichap

The 12-unit Grade Road Apartments in Lake Stevens sold for $750,000, according to Marcus & Millichap. James Bucsit bought the property from Kathryn Campbell. Broker Steve Steadele of M&M represented both sides.

Two M&M brokers put together a $1.7 million sale of the 17-unit Prospect Manor apartments at 1100 5th Ave. North in Seattle. Mr. and Mrs. William Eng sold to Wood Creek Lane Associates. Dan Swanson and Colby Haugness brokered that deal.

Samis receives $12.4 M permanent loan

L.J. Melody & Co.'s Seattle commercial mortgage banking office assembled a $12.375 million permanent loan for the Samis Foundation on Samis' recently constructed, 123,000-square-foot warehouse in the Duwamish corridor. Federal Express leases the space. The loan comes from Aegon USA Realty Advisors, which manages pension money. Melody's David Stinebaugh and Mike Maker arranged the deal.

Windermere

Greg Shaw became a sales associate in Windermere Real Estate's Magnolia office. Shaw recently sold the Magnolia-area landscape business he owned and operated for 19 years. The life-long Magnolia resident is also known for growing and displaying giant pumpkins for the last 20 years. Bill Fisher joined Windermere's Eastlake office as a sales associate. Fisher was previously a private banker with Bank of America.

Civia Media Terminals-TrizecHahn

Fisher Properties' network of publicly-placed, Web-based media terminals shifted from local to national via a new deal with a large office landlord, TrizecHahn Corp.

The deal calls for installation of Civia Media Terminals in 30 TrizecHahn-owned office buildings in major cities such as Chicago, New York, Los Angeles, Houston, Atlanta, Dallas and Washington, D.C. The installation will occur over the next 18 months. The terminals deliver targeted news, ads, entertainment guides and property information, blending TV, the Web and interactive technology. Civia says it wants to install "thousands of its terminals in commercial buildings and other public locations throughout the U.S. by 2004.

Susan Murphy will speak to CREW

Susan Murphy will talk about the area's largest office landlord, Equity Office Properties Trust, "and the role women play in the organization" at the next lunch meeting of Commercial Real Estate Women Northwest. Murphy is Equity's vice president for leasing in the region, covering 14.3 million square feet of leasable space from Portland, Ore., to Anchorage, Alaska. The CREW lunch is scheduled for noon on Thursday, Jan. 10, at the Washington Athletic Club in downtown Seattle.

Then on Thursday, Jan. 24, Peter Shorett and Curt Ghan of Kidder Mathews & Segner will give CREW their outlook for 2002. That event will start at noon in the conference room of the Norton Building in downtown Seattle. Shorett heads Kidder's appraisal division. Ghan is a seasoned office broker who put in a stint as head of Kidder's downtown Seattle office.

For more information about either event, call (206) 361-6859.