Feb 26, 2004

S-J Management

S-J Management, a private Seattle company that is one of the more active buyers of large multifamily properties in Washington and Arizona, bought the 180-unit Mandarina Apartments in Phoenix for $15.5 million, or $85,972 per unit. This is the second time in seven months S-J has acquired an institutional quality multifamily property in Arizona, according to S-J CEO Michael J. Sauter. S-J plans to acquire the 185-unit Belaflora Apartments in East Phoenix in May. S-J forms and manages limited liability companies that directly own real estate purchased with funds of third-party investors. The company currently owns and manages approximately 3,000 apartment units.

Trammell Crow Co.

Benson

David Benson has assumed leadership of the Trammell Crow Co., team that provides real estate services to Vulcan Inc., in the Puget Sound region. Benson, a vice president and 14-year veteran of Trammell Crow Co., most recently headed Trammell Crow's Seattle central business district team.

Norris, Beggs & Simpson

Vandevco Limited hired Norris, Beggs & Simpson to lease office and retail portions of the four-building, mixed-use Vancouvercenter, the largest urban development in the Washington city's history. The project includes 194 apartments, 68 condos and 165,000 square feet of office and retail. Norris, Beggs' Vancouver team includes H. Roger Qualman, executive vice president; Pam Lindloff, retail broker; Kirk Robertson and Tamara Fuller, office brokers; and Dyann Hamilton, property manager.

Local Initiatives Support Corp.

The Seattle office of Local Initiatives Support Corp., a nonprofit community development organization, provided more than $10.8 million in new market tax credits to U.S. Bancorp Community Development Corp., to finance redevelopment of the Albers Mill on Tacoma's waterfront. The project will be done this week, according to officials of Heritage Properties, the Anchorage-based developer that is rehabbing the mill into 36 apartment lofts plus retail. Absher Construction Co., of Puyallup is the contractor, and Architects BCRA Tsang of Tacoma is the designer. The credits are aimed at stimulating economic development in low-income communities.

Coldwell Banker Bain

Jerry F. Galloway has been named to Coldwell Banker Bain's International Diamond Society. The award recognizes Galloway's sales record in his 15th year with the firm. He said his 2003 sales total was $4.5 million. Galloway, a Seattle native who works in the brokerage's Westlake office, specializes in single-family and condo sales.

Allied Arts

Allied Arts members and guests will discuss how other cities have channeled development to targeted areas at the group's Beer and Culture Night March 12 at 7 p.m. David Spiker, chairman of the Seattle Design Commission; Diane Sugimura, director of the Seattle Department of Planning and Development; Scott Surdyke of Lorig Associates; Marty Curry, executive director of the Seattle Planning Commission; and Don Meyer, director of the Foss Waterway Development Authority in Tacoma, are the panelists. Cost is $15 for Allied Arts members, $25 for nonmembers and free for low-income folks. The event will be at a private residence. For location and to RSVP, contact aarts@speakeasy.net or telephone (206) 624-0432.

NAIOP

NAIOP is finalizing plans for its daylong spring seminar, "Navigating the Path to a Great American City" March 17 at Seattle's Bell Harbor International Conference Center. The 7 a.m. breakfast program will include presentations by Ada Healey of Vulcan, Greg Smith of Gregory Broderick Smith Real Estate and Bill Bain of NBBJ. The seminar is approved for 7.5 hours of continuing education credits, and begins at 9:30 a.m. Among the panelists are Seattle Mayor Greg Nickels. The breakfast is $30 for members of the National Association of Industrial and Office Properties and $45 for nonmembers. The event includes lunch and costs $145 for members and $165 for nonmembers. To register, contact www.naiopwa.org or (206) 382-9121.

Forum '04

Six real estate trade groups will host Forum '04, a daylong series of classes, April 29 at the Washington State Convention & Trade Center in Seattle. There will be 18 workshops and classes for all skill levels, with 7.5 hours of continuing education. Cost is $125. Register at www.warealtor.com or call (800) 748-7053.