May 15, 2014

Kirkland Waterfront Market refinances

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Mike Wood and Austin Johnson of NBS Financial Services arranged $8.5 million to refinance Kirkland Waterfront Market, a 24,000-square-foot mixed-used building at 130 Lake St. HomeStreet Bank was the lender. Wood said the loan was a challenge because the building is mixed-use and condos were used as collateral, but Wood said the location near the waterfront made the building worth the investment. NBS Financial Services is the financial arm of Portland-based Norris, Beggs & Simpson Cos.

Bridge financing for 954 E. Union

Louis Weisman of Berkadia Commercial Mortgage and Tim Ufkes of Hendricks-Berkadia closed $14.7 million in bridge financing for a six-story, 79-unit apartment building now under construction at 954 E. Union St. on Capitol Hill. The developer, Seawest Investment Associates, is using the money to finance construction. The building is one block from the Seattle Streetcar line, which is scheduled to open later this year. Berkadia Commercial mortgage provides acquisition, construction and refinance loans for real estate properties and manages a portfolio of more than $229 billion.

Two CCIM chapters combine

Two regional chapters of the Certified Commercial Investment Member Institute have combined: Washington State and Inland Northwest. The change brings 150 new members from the Inland Northwest into a new chapter that will cover all of Washington and northern Idaho. CCIMs include brokers, investors, developers, property managers, appraisers and other commercial real estate experts. There are more than 8,400 CCIMs in North America.

May 08, 2014

Interbay apartments sell for $2M

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The 14-unit building is on Thorndyke Avenue West.

An entity managed by Preston Walls of Walls Property Management bought a three-story, 14-unit apartment building at 2501 Thorndyke Ave. W. for $2.2 million. The seller was a Canadian trust. Spencer Clark of Marcus & Millichap's Seattle office handled the listing. The complex was built in 1963, and is made of marblecrete and brick veneer.

Shives joins Momentum Partners

Shives

Tacoma-based Momentum Partners hired Amy Shives to be vice president of business development. Shives served on the firm's board of advisors for the last year, and will be responsible for building partnerships with developers and investors. Shives worked as a corporate business developer with Humphreys & Partners Architects in Dallas, which is listed as a partner on Momentum Partners' website. Momentum Partners focuses on buying, developing, managing and selling commercial real estate.

Capitol Hill Housing forum May 20

Capitol Hill Housing will hold a community forum about starting an arts district on Capitol Hill at 5:30 p.m. May 20 in the Oddfellows Building at 915 E. Pine St. Greg Esser of Arizona State University will talk about Roosevelt Row Arts District in Phoenix. There will be a panel discussion with Lesley Bain of Frameworks Cultural Placemaking, Tonya Lockyer of Velocity Dance Center, Jason Plourde of Three Dollar Bill Cinema, Matthew Richter, cultural space liaison for the city of Seattle, and Cathryn Vandenbrink of Artspace. For more information, or to attend, visit: bit.ly/artsdistrictforum.