Sep 09, 2010

TeamBuilder John L. Scott

Joey Ferrick launched John L. Scott's TeamBuilder Land practice. He works on commercial investment projects and transactions.

Cole Real Estate Investments

Cole Real Estate Investments named William Broms director of acquisitions. He previously worked as acquisitions director for Realty Income Corp., a real estate investment trust. Phoenix-based Cole, one of the nation's most active buyers of commercial real estate, bought the 26-story City Center Plaza in downtown Bellevue earlier this year.

ULI event: The Art of Finding Capital

Urban Land Institute's Seattle District Council's Sept. 21 breakfast program will delve into who is buying and lending, and what trends and issues are affecting companies' ability to attract capital. The program begins at 7:30 a.m. at the Renaissance Seattle Hotel, 515 Madison St. Douglas Poutasse of the Boston office of Kennedy Associates Real Estate Counsel will be the keynote speaker. Lori Hill of Pacific Real Estate Partners in Seattle and Bruce Ganong of Holliday Fenoglio Fowler of San Francisco are the panelists. Register at seattle.uli.org or by phone at (800) 321-5011.

Thurston County real estate forum

On Sept. 22, the Thurston Economic Development Council and commercial real estate trade group NAIOP will host the second-annual real estate forum. The lunch program begins at 11:30 a.m. at Indian Summer Golf & Country Club, 5900 Troon Lane S.E., Olympia. Commercial properties, projects and opportunities will be discussed. Register at thurstonedc.com.

Sep 02, 2010

Pacific Real Estate Partners

Malley

U.S. Bank

Marc Wright joined U.S. Bank as its Seattle commercial real estate market manager, leading the Seattle and Bellevue commercial real estate and home builder finance offices. He succeeds John Swanson, who's retiring after working for the bank for 34 years. Wright most recently was HomeStreet Bank's executive vice president and chief credit officer.

Cole, Wells Fargo and Eastdil

Cole Real Estate Investments arranged with Wells Fargo a $156 million mortgage financing secured by City Center Plaza, a 26-story office tower in Bellevue. The 50 percent loan-to-cost financing has a 3.99 percent fixed rate per annum with a maturity date of 2015. Rob Rubano, senior vice president of Eastdil, brokered the deal. The building is occupied by the Bing division of Microsoft, whose lease runs through 2024.

HFO Investment Real Estate

HFO Investment Real Estate brokered the sale of Twin Creeks Apartments, a 220-unit apartment complex in Southeast Portland. Twin Creeks Apartments LLC of Portland developed the complex in the 1990s and sold it for $17 million to Twin Creeks LLC, a private equity firm in San Francisco. The buyer assumed the existing commercial mortgage-backed security loan, which had a 65 percent loan-to-value ratio and an above-market interest rate. It was Oregon's largest apartment transaction in the third quarter.

Pierce County workshop

The Pierce County Department of Planning and Land Services, Public Works & Utilities and the Economic Development Division, Commercial Brokers Association and NAIOP are hosting a free workshop for commercial real estate professionals who do business in the county. The half-day event starts at 8 a.m. Sept. 14 at the Environmental Services Building, 9850 64th St. W., University Place. Topics are planning, regulations, parcel research, code enforcement, building amnesty program and traffic impact fees. Register by clicking on Business Forums at piercecountywa.org/edd.

Two ULI Seattle events

At 3 p.m. Sept. 15, the Seattle district council of the Urban Land Institute will give a three-hour tour of current and future transit-oriented development sites along the light rail line in Seattle. The tour starts at Union Station, 401 S. Jackson St., and will end with a panel discussion at the Columbia City Theater moderated by Seattle Deputy Mayor Darryl Smith. Panelists include representatives of HAL Real Estate, Harbor Properties, JC Mueller LLC, Othello Partners, Hinthorne Mott Architects and Sound Transit. Cost is $30 for members and $40 for others, and includes rail fare. At 5 p.m. Sept. 16, ULI's Young Leaders Group will meet with King County Executive Dow Constantine at the Chinook Building, 401 Fifth Ave., in Seattle. The event is free and limited to the first 15 YLG members who register. Register for both at uli.org or by calling 1 (800) 321-5011.

NAIOP

Five developers will share behind-the-scenes stories of their new projects at NAIOP's 7 a.m. Sept. 15 breakfast at the Sheraton Seattle, 1400 Sixth Ave. Panelists and projects include Dan Ivanoff, Schnitzer West, 1918 Eighth; Marc Nemirow, Benaroya Co., South Hill Business and Technology Center; Kerry Nicholson, Legacy Partners Residential, Riverpark; Ada Healey, Vulcan Real Estate, Rollin Street Flats; and Dan Putnam, Pacific Plaza Dev LLC, Pacific Plaza. Kristin Jensen of Touchstone will moderate. The cost is $35 for members and $60 for non-members. Register at naiopwa.org.