Aug 19, 2004

Opus Northwest

Rowe

Mark Rowe has joined Opus as a senior real estate manager. His initial focus will be Opus Northpointe Corporate Campus in Lynnwood, Snoqualmie Ridge Business Park and the Opus I-90 industrial project in Preston along with Eastside developments. He has been in commercial real estate development since 1993, most recently as senior development manager with Quadrant Corporation.

John L. Scott

Chikwinya

The John L. Scott Foundation helped raise $900,000 for Seattle Children's Hospital and Regional Medical Center. The money was raised during the Children's Ride 9 and the Warren Moon & Steve Pool Golf Classic. The Laurelhurst office has five new officers: John Burke, Jeffrey Jackson, Fran Loveland, Maureen McKnight and Mark Schoenthaler. The Federal Way office has four new agents: Jenny Chang, Blythe Hendershot, James Chikwinya and Kimiko Matsuzaki.

S-J Management LLC

S-J Management of Seattle sold the 108-unit Park 128 Apartments in Everett to Khampsong Insixiengmai, Dan Roy Zendejas and Maria De La Luz Zendejas for $6.85 million. The cap rate was 4.8 percent; similar properties have been trading in the 7 percent-plus cap rate range, according to S-J CEO Michael J. Sauter.

Hendricks & Partners

Crown Village Apartments LLC of Mount Vernon sold the 89-unit Crown Village in Kennewick for $3.625 million to the Dorbin Family Trust and Henry Stone and Elaine S. Rosen of Del Mar, Calif. And Timothy B. and Fay C. White of Mount Vernon sold the 180-unit Arbor Terrace/Park Villas in Mount Vernon to Mount Vernon Arbor Park LLC of Santa Barbara, Calif. for $8.445 million. Tim Ufkes of Hendricks & Partners negotiated the sales.

Windermere

Seattle-based Windermere Real Estate has a new portfolio of image processing tools for agents. It was developed in partnership with iLOOKabout Inc., developers of ImageStore software that processes and serves 360-degree images. Also, Windermere has opened an office in Jackson, Wyo. It is the company's first Wyoming location. And Christina Economou has joined the Lakeview office as a sales associate.

Edmonds open house

Officials of Edmonds City Hall and the Chamber of Commerce are hosting a Sept. 9 open house from 2 to 5 p.m. to showcase vacant retail and office properties in the city. Self-guided tours begin at Arista Wine Cellars, 502 Main St., where people can pick up property lists and maps.

Aug 16, 2004

Radix Marine

Radix Marine, a marine vessel development company, signed a lease and purchase agreement with AllMetal Works of Kingston. AllMetal will supply vessel manufacturing equipment, which Radix will own at the end of the one-year lease. New staff positions will open for marine welders, electricians, and mechanical and electrical outfitters. Headquartered in Silverdale, Radix focuses on opportunities with the U.S. Navy, Coast Guard, Marine Corps, as well as international markets.

Aug 12, 2004

Norris Beggs & Simpson Real Estate Capital

Veys

Ith

Kim Veys and Radey Ith have joined Norris Beggs and Simpson Real Estate Capital, a Portland-based investment management firm, as controller and financial analyst, respectively. Veys oversees accounting, financial reporting and tax preparation for NBS and its related entities. She was finance director for Portland Family Entertainment LP. Ith is responsible for underwriting and due diligence of new acquisitions, and ongoing operating company accounting of investments on behalf of Morrison Street Fund I LC. He was an investment accountant at Schnitzer Northwest.

Cushman & Wakefield

Michelle Detweiler has joined Cushman & Wakefield of Washington as a marketing coordinator for the broker team. Previously, she was a tenant coordinator for Equity Office Properties. Christina Leffingwell has joined the brokerage as branch coordinator for the Seattle and Bellevue offices. She previously worked with Cushman & Wakefield of California.

Fowler Property Acquisitions

Fowler Property Acquisitions has acquired the 264-unit Northcreek Apartments in Everett from Equity Residential Property Trust. Fowler bought the 18-year-old property, which was renovated in 2002, for $16.1 million, or $60,985 per unit. This represents a 6.6 percent cap rate on 80 percent collections and a significant discount to replacement cost, say Fowler officials. They plan modest upgrades. Fowler owns and operates approximately 15,000 units in western markets and is seeking to invest more than $250 million this year. Broker Dave Schumacher of Columbia Partners represented both parties on the Northcreek deal.

NAIOP

The National Association of Industrial and Office Properties has released a glossary of office-development and leasing terms. Association officials say the guide adds clarity and transparency to commercial real estate markets throughout the United States. Developer Douglas Howe of Seattle-based Touchstone was on the steering committee that put the glossary together. The glossary is at http://www.naiop.org/services/usofficeterms.pdf.

Housing committee

The Seattle City Council's Housing, Human Services and Health Committee is having a public hearing at 5:30 p.m. Aug. 17 on 2005-08 plans for allocating $22.2 million in federal funds to support housing and community development projects. The hearing will be at the New Holly Community Meeting Room, 7054 32nd Ave. S. The latest draft plan is at http://www.seattle.gov/humanservices/director/consolidatedplan.

Real Estate Association of Puget Sound

The Real Estate Association of Puget Sound is hosting two events at Lake Washington Technical College in Kirkland. Young Martz of Digital Escrow in Federal Way will give a three-hour presentation, "Nuts and Bolts of Escrow and Title," at 7 p.m. Aug. 25. It's free for REAPS members and $15 for others. Greg Pinneo of Reach Returns in Kirkland is giving a day-long seminar on the fundamentals of investing at 9 a.m. Aug. 28. Cost is $49 for REAPS members who pre-register and $69 for others. For more information, call (425) 458-4797 or register at http://www.reaps.com.

Affordable housing conference

The Statewide Affordable Housing Conference is Sept. 20-21 at the Meydenbauer Center in Bellevue. Organizers say the conference is for developers, architects, lenders, social service providers and tenants. The fee is $210 for those who register before Aug. 30 and $260 after. To register, see http://www.wshfc.org/conf or call 1 (800) 767-4663, Ext. 773.