Aug 25, 2011

ATREG, Colliers International

Seattle-based ATREG (Advanced Technology Resource Group), a Seattle-based global advisor to the semiconductor industry, and Colliers International facilitated the sale and partial lease-back of the Freescale Semiconductor campus at East Kilbride, Scotland. Edinburgh-based Clowes Developments Limited acquired the 800,000-square-foot facility on 26 acres. Freescale is leasing back 70,000 square feet. Stephen Rothrock is president and managing principal of ATREG. Iain Davidson of Colliers in Scotland said this was the largest industrial deal in West Scotland in years. In December, ATREG and Colliers advised Freescale on the sale of another Scottish semiconductor facility in Dunfermline to Shepherd Offshore Services Ltd.

Guardian

Guardian Real Estate Services, a Portland-based management, development and investment company, hired Tonya Evans to manage an affordable housing portfolio in Oregon. She rejoins the company after 12 years working for Oregon Housing and Community Services, the state's housing finance agency.

Marcus & Millichap

Timothy McKay of Marcus & Millichap in Seattle brokered the nearly $4.3 million sale of the 35-unit Alderview Apartments at 300 11th Ave. in Seattle. The seller was Alderview Apartments LLC. Records list the managing members as Yvonne and Gerald Vierthaler of Seattle. The buyer was JBJ Alderview, whose members are John Teutsch, John Walker and Bryan Syrdal of Teutsch Partners in Seattle.

IREM publication

The Institute of Real Estate Management published a book for beginning investors, “The Four Benefits: Commercial Investing and You” by Nicholas Dunlap. The cost is $11. To order, call (800) 837-0706, extension 4650, or go to irembooks.org.

CREW program on the tunnel

Commercial Real Estate Women's Sept. 8 lunch program is about the tunnel that will replace the Alaskan Way Viaduct. Ron Paananen, who leads the project for the Washington State Department of Transportation, will talk about real estate impacts, development opportunities and other issues. The event is at the Washington Athletic Club in Seattle. Register at crewseattle.org.

CCIM program on apartments

Mike Scott of Dupre + Scott Apartment Advisors will give a presentation on the Puget Sound apartment market at 11:45 a.m. Sept. 14 as part of the CCIM meeting at the Seattle Yacht Club, 1807 E. Hamlin St. Register at chapters.ccim.com under washington or by calling (425) 820-3348.

Aug 18, 2011

Columbia Hospitality

Seattle-based Columbia Hospitality has a new management and operational agreement with Knob Hill Inn in Ketchum, Idaho. A group of investors with ties to Idaho are buying the inn, which has been on the market for more than two years. Investors include John Oppenheimer, CEO of Columbia Hospitality; Fred Crosetto, CEO of Ammex Corp. in Kent; Dwayne Clark, chairman and CEO of Aegis Living of Redmond; and Robert Cimino, CEO of Plaza Provision Co. of San Juan, Puerto Rico. The inn has 26 rooms and suites.

Legacy Partners and Mesa West

Mesa West Capital has funded a loan to recapitalize an office portfolio that includes the Seattle Post-Intelligencer Building, and Buildings C and E in Quadrant Willows Corporate Center in Redmond. Legacy Fund II, a $457.9 million discretionary co-mingled investment fund of Legacy Partners and Brookfield Asset Management, received $90 million from Mesa West to recapitalize a six-property portfolio. The new non-recourse loan and additional capital provided by Brookfield, was used to purchase debt back at a discount and put new debt in place to stabilize the properties. The assets were acquired by Legacy Fund II in 2007, and have a occupancy rate of 70 percent. Mesa West Principal Steve Fried originated the financing.

Marcus & Millichap

George Miller of Marcus & Millichap in Seattle represented the King County Housing Authority in its $3.56 million acquisition of Island Crest Apartments, a 30-unit property at 3030 81st Place S.E. on Mercer Island. Records list the seller as an LLC managed by Pui Au of Mercer Island. Rich Walker of Marcus & Millichap represented K & O Investment Co. LLC in the $1.65 million acquisition of the 24-unit Colony Park at 2028 W. Meeker St., Kent. Records list Donald and Helen Owens of Mercer Island as LLC managers.

Coast Sperry Van Ness

Sperry Van Ness International, the national real estate firm affiliated with Coast|Sperry Van Ness of Everett, awarded Coast Senior Adviser Josh Jansen the Partner's Circle Award, the company's highest sales award.

Berkadia Commercial Mortgage

Louis Weisman of Berkadia in Seattle originated an $8.75 million, 80 percent loan-to-value loan for the 60-unit Olympic Square Townhomes in Gig Harbor. The 4.8-acre property has 5,380 square feet of retail. The loan has a 10-year term with 30-year amortization and was financed through Freddie Mac's Capital Markets Execution program.

Grubb & Ellis

Grubb & Ellis sold Daymark Realty Advisors to a joint venture controlled by Sovereign Capital Management Group and Infinity Urban Century, and now has exited the tenant-in-common business. Grubb & Ellis has been considering selling the entire brokerage firm, and the Daymark sale was considered a condition of this. Earlier this year, Grubb & Ellis said it was looking into a possible sale or merger. Grubb has a Seattle office.