Jun 02, 2011

Phillips Real Estate

Geise

Matthew J. Geise of Phillips Real Estate Services in Seattle was awarded the Certified Commercial Investment Member designation. Geise is an associate broker and executive director of Phillips' Multi-Family Group. The CCIM is awarded to people based on experience and completing a graduate-level curriculum.

Bank of America

Seattle is one of the cities being targeted by Bank of America with its new $55 million program to improve the energy efficiency of older buildings. The program provides low-cost loans and grants to community development institutions that finance energy improvements. Low-cost, long-term loans will help finance upfront costs for building owners. Applications are at http://www.cybergrants.com/boa/energyefficiency/.

Coldwell Banker Bain

Coldwell Banker Bain merged with Coldwell Banker Miller-Arnason in Bellingham. The Bellingham office was founded in 1907 by the grandfather of the current managing broker, Gregg Miller. It has 60 brokers who do residential and commercial transactions.

7,000 open houses this weekend

There will be around 7,000 open houses throughout the state Saturday and Sunday, according to the Washington Association of Realtors, part of the group's nationwide open house weekend. Snohomish Realtors organized a countywide open house program in 2007, and that led to a statewide event two years later and the first national event last year. It's now international, with open houses in Canada, Mexico, Europe, the Philippines and other countries.

CREW program: working with banks

Commercial real estate lending is the topic of the Commercial Real Estate Women's lunch at the Washington Athletic Club in Seattle on June 9 at noon. Panelists are Candi Coleman of Sterling Savings Bank, Charlie Guildner of Peoples Bank and Greg Weed of HomStreet Bank. Register at crewseattle.org.

NAIOP broker panel June 15

NAIOP's broker panel is at 7:30 a.m. June 15 at the Seattle Sheraton. Panelists are: Tom Abbott of CB Richard Ellis, Les Boudwin of Pacific Real Estate Partners, David Gurry of Colliers Internaitonal and David Young of Jones Lang LaSalle. They will talk about leasing and investment trends and Chris Hughes of PREP will moderate. Register at naiopwa.org.

Eastside Mayors' Forum June 16

The Bellevue Downtown Association is hosting the Eastside Mayors' Forum at 7:30 a.m. June 16 at the Bellevue Club, 11200 S.E. Sixth St. Mayors Don Davidson of Bellevue, Ava Frisinger of Issaquah, Mark Lamb of Bothell, Joan McBride of Kirkland and Jim Pearman of Mercer Island are the panelists. James Whitfield of Leadership Eastside is the moderator. Register at bellevuedowntown.org.

May 26, 2011

NBS Financial Services

[enlarge]

Henderson

Jeff Henderson of NBS Financial Services in Seattle originated $20.2 million in permanent financing for Pacific Plaza, a LEED platinum office and retail project in Tacoma. Bank of America is the lender; terms were not disclosed.

He said the CMBS single-asset transaction was challenging because the market recently lost a large tenant — Russell Investments — and Pacific Plaza is a condominium with partial owner/user space, including a grocery store that has yet to take occupancy.

Henderson said lenders are starting to look in secondary markets.

NorthMarq Capital

Bob Spiro of NorthMarq Capital's Bellevue office arranged first mortgage financing of $3.1 million for Hidden Firs Apartments, a 62-unit property in Lynnwood. Financing was based on a 10-year term with a 30-year amortization schedule and was arranged through Freddie Mac. Spiro said the transaction is a low-leverage $2 million cash back contract. The client spent $150,000 improving the property before closing. The borrower got what Spiro said was a low fixed rate, 10-year loan to retire a HUD loan.

Premier Communities, Matrix

Premier Communities LLC selected Matrix Real Estate to market Greenfield Park, which has 74 single-family detached homes on condominiumized lots. Sales will start in September. Matrix President Chaun Mackey will lead the team. Twenty homes were built and sold when the original developer lost the property. State records list Clark and Ryan C. McGowan of Puyallup as Premier's managers.

TheRetailPlanet.com

The RetailPlanet.com unveiled BrandScore for Retailers this week at the International Council of Shopping Centers' convention in Las Vegas. The web-based system helps retailers and brokers determine the quality of a retail location. New Mexico-based RetailPlanet says it has taken the concept of credit scoring and applied it to retail site selection. It is built on Google Maps, and scores every retail district in the United States for more than 3,000 brands, combining demographics and consumer preferences to produce a score.

Jones Lang LaSalle

Jones Lang LaSalle was named a lead sponsor of the Carbon Disclosure Project Cities program, which provides a global platform for cities to report greenhouse gas emissions and other sustainability-related information. Jones Lang LaSalle will help refine the reporting criteria and help cities improve performance.

BOMA's Day of Caring

Members of the Building Owners and Managers Association volunteered to do maintenance for Seattle's Downtown Emergency Service Center. Members cleaned a shelter, and installed new floors and cabinets at the Kerner Scott building in the South Lake Union area.

NAIOP: Next steps for recovery

NAIOP's 7:30 a.m. June 10 breakfast in Tacoma will look at recovery in the South Sound commercial real estate market. Tacoma Economic Development Director Ryan Petty will talk about Russell Investments' former headquarters, Old City Hall, BNSF's 80 acres in South Tacoma and the multi-family market. Port of Tacoma Real Estate Director Jack Hedge will discuss the port's strategies and portfolio. The meeting will be at the Hotel Murano. Register at naiopwa.org.