Aug 07, 2014

Mack Urban hires Galassini

Galassini

Mack Urban hired Louisa Galassini as an associate development manager in the Seattle office. Galassini will work on residential and mixed-use projects including site acquisition, permitting, design and construction services. Galassini recently graduated from the University of Washington with degrees in architecture and real estate. Mack Urban is a West Coast real estate company that does transit-oriented development, high rise housing, mixed-use, adaptive reuse, and student and senior housing.

John Lo joins JLL

Lo

Jones Lang LaSalle's capital markets division hired John Lo to lead real estate investment banking in Washington and Oregon. Lo will work on loans, financing and joint venture equity investments. Lo was a founding partner at Bluewater Realty Capital, a mortgage banking firm in the Pacific Northwest. He also worked for Intervest Mortgage, Wells Fargo Real Estate Group and as a real estate investment banker. Over his career, Lo has completed more than $5 billion in debt and equity closings.

Transportation expert to speak at ULI

Gabe Klein, former transportation chief in Chicago and Washington, D.C., will talk about transportation and land use at a Urban Land Institute Northwest meeting at 7:30 a.m. Aug. 13 at Motif Seattle, 1415 Fifth Ave. ULI said Klein has a “people-first” philosophy when it comes to transit planning. In Chicago, he worked on financing and construction planning for the waterfront park and an elevated bike trail that will traverse four neighborhoods and add open space. Register by Aug. 11 at http://Northwest.uli.org or by phone at 1-800-321-5011.

NorthMarq secures $32.5M for Quail Park

Stuart Oswald of NorthMarq Capital's Seattle office arranged $32.5 million in financing for Quail Park of Lynnwood, a three-story senior housing building with 85 assisted-living units and 45 memory care units. The refinancing loan allows the borrowers to pay off the original construction loan and generate cash. NorthMarq says it is the largest private commercial real estate financial intermediary in the U.S., with more than $10 billion in financing secured annually and a loan portfolio of more than $42 billion.

NBS gets $21M loan for Esterline

NBS Financial Services' Mike Wood and Austin Johnson arranged $20.75 million in financing for the Esterline building, a 216,180-square-foot manufacturing building in Everett. NBS Financial represented the lender, State Farm Insurance Co. An entity related to Capstone Partners is the borrower. Capstone built the structure in 2009 for Korry Electronics, a division of Esterline Corp. NBS Financial is the financing arm of NAI Norris, Beggs & Simpson, a commercial real estate company in Portland.

Jul 31, 2014

Tetherow Lodges opens in Bend

Tetherow Lodges

A new hotel called Tetherow Lodges has opened at the 700-acre Tetherow Resort in Bend, Oregon, with 50 rooms as large as 550 square feet. Rooms have fireplaces, WiFi and other features. The resort centers around Tetherow Golf Course, which was designed by the architect of Bandon Dunes David McLay Kidd. There are also sites for single-family houses and townhouses. An “adventure concierge” will advise guests on outdoor activities and Bend hotspots. Bend-based Darren Thomas Architecture + Planning designed Tetherow Lodges. Kirsti Wolfe Designs of Bend did the interiors and Sunwest Builders of Redmond, Oregon, was the general contractor.

Lottis joins Wesley Homes

Lottis

Wesley Homes of Des Moines hired Jennifer Lottis as senior director of community and campus relations. Lottis will be responsible for occupancy at the 45-acre Des Moines senior housing campus, which includes assisted-living buildings and independent apartments. Wesley Homes was established in 1944 and is affiliated with the Pacific Northwest Conference of the United Methodist Church. The company has another senior housing complex in Auburn, and provides home care to clients.

$36M for Wells Fargo Plaza

San Francisco-based Newmark Realty Capital arranged $36 million in financing for Unico Properties' Wells Fargo Plaza in Tacoma. Michael Taylor, a principal in the Seattle office, led the financing team. The 25-story, 308,000-square-foot office building is 98 percent leased. Wells Fargo anchors the building, and other tenants are law firms Gordon Thomas Honeywell and Eisenhower Carlson, as well as Merrill Lynch and Propel Insurance. The loan will replace previous financing from 2004 that is maturing. Newmark has offices in Seattle, San Francisco, Los Angeles, Phoenix and Las Vegas and has done more than 900 loans worth $7.5 billion.

Davis Property buys Kent building

Davis Property & Investment said it bought a 32,784-square-foot industrial building in Kent for $3 million. The building is on nearly two acres at 7908 S. 228 St. in Kent. It is fully leased to Guided Products, which makes office supplies out of recycled materials, as well as tablet and menu covers and adhesive labels. Davis Property is based in Kent, and develops and owns properties in the Puget Sound region and Portland.

Terreno buys industrial building

San Francisco-based Terreno Realty Corp. bought a 32,000-square-foot industrial building in Kent for $2.8 million last week. The building sits on 3.8 acres at 26601 79th Ave. S. and has 12 loading areas. It is 52 percent leased to a single tenant. Terreno owns industrial property in six coastal areas: Los Angeles, Miami, northern New Jersey/New York City, San Francisco Bay Area, Seattle and Washington, D.C./Baltimore.