Sep 22, 2011

CB Richard Ellis

Rendering courtesy CBRE [enlarge]

The Parkview project is in Olympia.

CB Richard Ellis, through its direct HUD FHA lender CBRE HMF, completed construction financing for Parkview Apartments, a 72-unit complex in the Briggs Village project in Olympia. The $9.1 million non-recourse loan provides an interest-only construction period of 15 months with a 40-year, fully amortizing permanent loan. ADC Real Estate Group Ltd. of Calabasas, Calif., is the developer of Briggs Village. It will have single-family houses, a commercial center, park and arboretum on 137 acres. BCRA is the architect and High Country Contractors is the general contractor. CBRE HMF also completed refinancing for Wedgewood Estates, a Seattle Housing Authority property. The $16.7 million non-recourse, 35-year, fully-amortizing loan was originated by John Taylor of the Seattle CBRE HFM office.

Grubb & Ellis

Raicht

Grubb & Ellis promoted certified green/sustainability broker Patricia Raicht to vice president, regional director of Research & Marketing. She is based in Portland, and oversees research and marketing for offices in Seattle, Denver and Sacramento. She has been with the company since 1996.

Fairplay

Kirkland-based real estate company Fairplay said it ranks 398th on Inc. magazine's 5000 list, based on percentage revenue growth from 2007 through 2010. Fairplay said its revenues rose 857 percent by financing the purchase of distressed properties. Fairplay makes bridge financing available to customers who meet requirements, and works on non-distressed real estate deals and property management.

NBS Financial Services

Patterson

Andrew Patterson of Norris Beggs & Simpson Financial Services in Seattle won a NAIOP award for developing leaders. He works on underwriting for commercial real estate loans.

Marcus & Millichap

Marcus & Millichap made InformationWeek's list of the nation's 500 best users of business technology. The company said it was honored for mobile apps, web pages and sustainability measures that save money. Dan Swanson, a broker in the Seattle office, represented the buyers of Calvary Temple Apartments at 844 N.E. 69th St. in Seattle. The 20-unit property sold for $2.1 million. The property had come out of a subsidized HUD contract and was transitioning to market rate. More units can be developed on the site. Records list the buyers as Jarrett Johnson of Medina and Brad Lovering of Clyde Hill. Calvary Christian Assembly was the seller.

City offers energy workshop

There will be a free workshop for building owners and property managers about the city of Seattle's building energy benchmarking and disclosure ordinance. The half-day class is at 12:30 p.m. Sept. 29 at Green River Community College's Tech Center, 12401 S.E. 320th St. in Auburn. The Northwest Energy Efficiency Alliance/BetterBricks and the city are holding the class. Register at http://tiny.cc/xbqir.

Sep 15, 2011

Capital Pacific LLC

Tufts

Capital Pacific of Lake Oswego, Ore., hired Sean Tufts to lead its new Seattle office. The 21-year-old brokerage specializes in investment sales and has completed more than $5 billion in transactions. Tufts previously was associate VP of investment sales for Kidder Mathews in Seattle. Capital Pacific hired Natalie Perry, formerly with Pro Sports Club in Bellevue, as a marketing associate. Company owner and founder Michael Horwitz said he expects to hire more brokers in Seattle.

Colliers International

Sevilla

Miller

Retail brokers Jason Miller and Damian Sevilla joined the Seattle office of Colliers International. They previously worked for Ewing & Clark.

Kidder Mathews

Engelking

Jensvold

Brad Bissell

Dillon

Eric Bissell

Retail brokers Eric Bissell, Tom Dillon and Brad Bissell and office broker Chris Jensvold joined Kidder Mathews' Bellevue office. Eric Bissell is a 28-year industry veteran who was most recently with Cascade Commercial/Wallace Properties but spent most of his career at CB Commercial and First Western Properties. Dillon, a 38-year industry veteran, was with First Western and Terranomics. Jensvold worked for Colliers International in Las Vegas, and has completed 2 million square feet of transactions. Brian Engelking joined Kidder Mathews' Tacoma office, specializing in retail leasing and sales.

Marcus & Millichap

The 30-unit Roberta and Carol Apartments at 1115 N.E. 43rd St. in Seattle sold for just under $3.6 million. Marc Cunningham represented both the seller and the buyer. Records list the seller as an LLC headed by Robert Mesher of Seattle and the buyer as an LLC managed by James Rose of Seattle. Cunningham brokered the $3.2 million sale of the 39-unit Riverton Ridge Apartments at 3900 Southcenter Blvd. in Tukwila. Alfredo Tuazon of Bellevue is the managing member of the LLC that sold the property. Woodspear Properties of Englewood, Colo., is the buyer, public records show.

Paragon Real Estate Advisors

A bank-owned motel named the Everspring Inn, at 8201 Aurora Ave. N., sold for just over $1.5 million, according to records. Prime Pacific Bank hired Paragon brokers Dave Smith and Conor Barclay to market the property. An LLC managed by Kuldip Puar of Tukwila bought the 33-room property that was built in 1996. Prime Pacific Bank provided new financing to Puar & Sons, a local motel operator.

Bellevue planning director to speak

Bellevue's new director of Planning & Community Development, Chris Salomone, will speak at the Bellevue Downtown Association's 7:30 a.m. Sept. 27 breakfast at the Bellevue Club, 11200 S.E. Sixth St. He was the head of community development for Tempe, Ariz., and will talk about his perspective on Bellevue's future. More information is at http://www.bellevuedowntown.org under events.