Jun 14, 2007

Cascade Commercial Properties

Scott Blankenship, principal of Cascade Commercial Properties, a Bellevue commercial real estate firm, represented D & L Property Management in its recent purchase of a building at 15811 Ambaum Blvd. S.W. in Burien. The building is on 1.7 acres and has 28,000 square feet. The price was $3.6 million. The seller was represented by Prudential NW Realty.

Grubb & Ellis

Grubb & Ellis Co. and NNN Realty Advisors have entered into a merger agreement to create a new business with transaction, management and consulting services. The company will be based in Santa Ana, Calif., and retain the name Grubb & Ellis. Scott Peters, CEO and president of NNN Realty, will become chief executive officer.

Pinnacle Financial

Pinnacle Financial Corp. named Edward Nelson branch manager of the Maple Valley office at 23220 Maple Valley Highway in King County. Orlando-based Pinnacle is a direct mortgage lender licensed in 48 states and employing more than 1,100 people. It closed nearly $5 billion in residential mortgage loans in 2006.

For Rent Media Solutions

For Rent Media Solutions of Norfolk, Va., a resource for searching apartments for rent nationwide, promoted Mike Gladfelder to Northwest district manager. Gladfelder will oversee operations for the Seattle, South Sound, Spokane and the Tri-Cities markets, as well as the Boise and Salt Lake City markets.

REAPS meeting on short sales

The monthly meeting of REAPS, the Real Estate Association of Puget Sound, will be on “Secrets to Short Sales and Becoming a Wholesale Superstar” with speaker Dwan Bent-Twyford, an author and investor. Her niche is finding foreclosures with no equity and negotiating with banks to create short sales. She will cover the steps for developing a wholesale system. The event will be June 28 from 7 to 10 p.m. at Kane Hall on the University of Washington campus. There is no charge but reservations are recommended. For information, see the Web site at http://www.reapsweb.com or call (425) 458-4797.

Jun 07, 2007

Metzler North America

Metzler North America said Blake Eagle will serve on its board of directors. He returns to the Northwest from Chicago as CEO emeritus of the National Council of Real Estate Investment Fiduciaries (NCREIF), the institutional real estate investment performance and standards setting body. Eagle founded NCREIF in 1977. Eagle was chairman of the Massachusetts Institute of Technology Center for Real Estate. Seattle-based Metzler is a real estate investment bank.

ÁegisLiving

ÁegisLiving of Redmond has acquired the majority ownership interest in ÁegisLiving from its former parent company. As a result of the buyout, CEO Dwayne Clark is now majority owner of ÁegisLiving. The parent company was co-founded 10 years ago by Clark and Bill Gallaher, president and CEO of Oakmont Senior Living, the real estate and construction arm of the parent company. The new status as an independent company will not affect management contracts with Oakmont Senior Living properties or with properties currently under development.

Intervest Mortgage

Spokane-based Intervest Mortgage Investment Co. has promoted Matt Couch to assistant vice president. He has been a loan officer with Intervest since 2002. He has experience in commercial acquisition, development and investment in the Puget Sound and San Francisco markets.

NAIOP June 20 meeting on traffic

The topic of the June 20 meeting of the National Association of Office and Industrial Properties is “Can Our Traffic Problems be Solved? A Blueprint for Regional Transportation,” starting at 7 a.m. with registration and networking, following by breakfast at 7:30. The speaker is Shawn Bunney, chair of the Regional Transportation Investment District. He will talk about the Roads & Transit proposal for the November ballot. Cost is $35 for members and $50 for non-members. To register call (206) 382-9121 or see the Web site at info@naiop.org.