Dec 23, 2010

Grosvenor and KeyCorp

Grosvenor Residential Investment Partners I LP and KeyCorp Fund Management Group are financing three residential projects in Seattle, San Diego and Washington, D.C. Locally, the fund provided a $4.2 million senior loan for the acquisition and development of 29 single-family lots in Brier, and will provide a $2.5 million construction revolver to construct the houses. The borrower is a local operator who has developed housing for more than 35 years.

NorthMarq Capital

Ron Peterson of NorthMarq Capital's Bellevue office arranged first mortgage financing of nearly $7.2 million for Stratford Arms Apartments, an 87-unit complex in Kent. Financing was based on a 10-year term with two years' interest-only followed by a 30-year amortization schedule.

Bentall Kennedy

Seattle-based Kennedy Associates Real Estate Counsel and the Canadian company Bentall have formally launched a North American real estate investment management platform, the culmination of a partnership started in 2006 between the companies. Bentall originated in 1911 as a small construction company and today is Canada's largest real estate advisory and services organization. Kennedy Associates was established in 1978 and grew to become America's largest independent real estate adviser. Gary Whitelaw is CEO of Bentall Kennedy and is based in Toronto. Michael McKee is CEO of Bentall Kennedy US and is based in Seattle. Bentall Kennedy has more than 400 clients and 130 million square feet of property in Canada and the U.S.

King County Housing Authority

King County Executive Dow Constantine appointed Douglas J. Barnes to a five-year term on the King County Housing Authority Commission. He replaces Peter Orser, president of Weyerhaeuser Real Estate Co., who served two terms. Barnes is a principal of Resource Transition Consultants, an LLC that focuses on distressed property receivership services. Barnes worked for Centex Homes and Intracorp Real Estate of Seattle, and is past president of the Master Builders Association of King and Snohomish Counties.

Dec 16, 2010

GVA Kidder Mathews, SkB Architects

Photo courtesy of GVA Kidder Mathews [enlarge]

PATH’s Seattle headquarters is LEED gold certified.

The Seattle headquarters of PATH, an international nonprofit, has been certified LEED gold.

GVA Kidder Mathews' Sustainability Practice worked with SkB Architects on a plan for the offices in 2201 Westlake.

The design team emphasized office layout and use of sustainable building materials.

The open floor plan has extensive windows to cut energy consumption.

Many of the materials are low-VOC and came from recycled sources.

The office is expected to use 35 percent less water when compared to similar buildings, and 94 percent of equipment and appliances are energy-efficient.

CB Richard Ellis

The 1101 Madison Tower has been certified LEED silver, according to CB Richard Ellis, which manages the 239,000-square-foot Seattle medical office building. The property was certified under the Existing Buildings: Operations & Maintenance category. CBRE said getting a medical office building certified is more challenging than a traditional office due to patient care issues. Support from the building's owner, HCP, a real estate investment trust based in Long Beach, Calif., and tenants and vendors were important in getting the certification, CBRE said.

Marcus & Millichap

Marcus & Millichap Capital Corp. arranged a $3.7 million refinancing loan for a 54-unit multifamily property in Edmonds. Glenn Gioseffi, a director in the Seattle office, arranged the loan. The transaction was arranged to buy out the note holder at a substantial discount, said Gioseffi. The loan is for five years, amortized over 30 years, with a fixed interest rate of about 6 percent. The loan-to-value is 60 percent.

Women's Council of Realtors

Anne Hartman of Keller Williams in Federal Way is 2011 president of the South King County Chapter of the Women's Council of Realtors. Other officers are Janet Hegseth of Keller Williams, Kent, president-elect; Robbyn Adelsman of Prudential NW Realty, Maple Valley, vice president, membership; Patti Maddux, Rainier Title, Kent, secretary; Dawn Carlson, First American Title, Federal Way, treasurer; and Pam Ranch, Keller Williams, Federal Way, past president.