Jul 07, 2005

Colliers International Hotels

Colliers International Hotels represented the Seattle-area buyers of the Coast Hotel in Bellevue and Deer Harbor Resort on Orcas Island. Public records indicate Belco and the Benaroya Co.'s Kent Central LLC sold the 175-room Coast for $10.3 million to Gold Trust LLC. Trendwest Resorts, a subsidiary of Cendant International, bought the Orcas property; terms were not immediately available. The Coast will continue to operate as a Coast property, but the new owners have sought help from The Chambers Group, a Seattle hotel management company. Trendwest Resorts, a subsidiary of Cendant International, bought the Orcas property. Deer Harbor will operate as hotel through the summer but Trendwest officials expect to incorporate it into their timeshare program after renovations later this year. Chris Burdett, senior VP of Colliers, says Colliers International Hotels completed just over $45 million in sales around the Northwest in 2004 and is well on its way to surpassing that number in 2005.

S-J Management

Seattle-based S-J Management is negotiating with a party that wants to buy the Monterra Apartments for $23.9 million. That's $5.7 million more than an affiliate of S-J paid for the 258-unit Phoenix property eight months ago. The deal is expected to close in November, according to S-J CEO Michael J. Sauter. He says the proceeds will bring the overall return on invested capital for S-J's period of ownership of the Monterra to between 80 and 90 percent. S-J, a privately held real estate company, acquires, manages and sells mostly large multifamily properties. It owns 2,500 units in Washington and Arizona.

John L. Scott Real Estate

May and June were record months for John L. Scott. While the company did not release the actual numbers, it said agents sold more homes in June than any month in its 75 years. Company Chairman and CEO J. Lennox Scott attributes the records to a three-quarter point interest rate drop in March. That prompted large numbers of buyers and sellers to enter the housing market. Scott said when interest rates fluctuate, buyers can go online and see what's available in real time. Richard Meyer has joined the sales team of John L. Scott University Place. Hans Brown, an associate broker at John L. Scott University Place, has earned the GRI designation from the Washington Association of Realtors.

CREW

Clise Properties President Richard Stevenson and Ben Barron, Clise's vice president of development, will speak about the company's proposed 31-story Seventh Avenue at Westlake project at CREW Seattle's 11:45 a.m. July 14 meeting at the Washington Athletic Club, 1325 Sixth Ave., Seattle. It's $35 for members of Commercial Real Estate Women and $50 for others. For reservations, write info@crewseattle.org, or call (206) 417-5580.

NAIOP

7:30 a.m. July 15 breakfast at The Tacoma Club in Suite 1601 of 1201 Pacific Ave. It's $15 for members of the National Association of Industrial and Office Properties and $20 for others. Register at naiopwa.org; click on the South Sound link under the Events tab. Register by phone by calling (206) 382-9121.

Seattle-King County Association of Realtors

The Seattle-King County Association of Realtors is hosting Antique Safari from 9 a.m. to 5 p.m. July 29 at Bellevue High School to raise money for the group's First Citizen Scholarship Fund. Professionals will give verbal appraisals of antiques and other items. Admission is free but there's a $5 per item appraisal fee and a five item maximum. The school is at 10416 S.E. Wolverine Way.

Jul 01, 2005

Washington Mutual

David C. Schneider is the new president of Washington Mutual's Home Loans Division. Effective Aug. 8, he will oversee the home loans business, including its $730 billion mortgage servicing portfolio. He will report to Washington Mutual President and Chief Operating Officer Steve Rotella, who was acting head of the business since March. Schneider was president and COO of St. Louis-based CitiMortgage.

Jun 30, 2005

Mundy Associates

Mundy Associates, a Seattle-based provider of complex real estate valuations, has changed its name to Greenfield Advisors. Dr. John Kilpatrick remains managing partner. The firm was founded in 1976 by Dr. Bill Mundy, Ph.D., MAI, CRE, who will remain with the firm as director emeritus. The firm worked on the valuation of Hearst Ranch at San Simeon, the Exxon Valdez oil spill and the Washington State Convention and Trade Center. The firm also analyzes the economic effects of hazardous waste on property and values "trophy" properties.

Avant Real Estate

Avant Real Estate opened a new location in Lakewood at 7502 Lakewood Drive W. to handle growth and expansion. The firm provides residential real estate services in metropolitan Pierce and South King counties. The managing broker is Jolene Cortel.

Zara Property Management

Zara Property Management has expanded into Lakewood at 7502 Lakewood Drive W. Zara is a sister company of Avant Real Estate, which has offices at the same location. Zara provides property management services in metropolitan Pierce and South King counties.

HomeStreet Capital

HomeStreet Capital, a single-family and multifamily real estate lender, provided a $4.73 million bridge loan to buy and renovate the Bella Vista Apartments in Bellevue. Financing was arranged by Tom Meunier through HomeStreet Bank portfolio funds. The borrower is Bella Vista Alliance Investments, LLC. The complex has three buildings built between 1968 and 1970. Two buildings house 52 one- and two-bedroom apartment units; the third building contains the leasing office, community room and saunas. Renovations will include appliance upgrades, new windows, deck and siding repair, flooring upgrades, new heating system for the pool, and landscaping.