Dec 11, 2014

Coast Equity pays $25.5M for BluWater

Everett-based Coast Equity Partners paid $25.5 million for BluWater, a 152-unit apartment complex at 11311 19th Ave. S.E. in Everett. The seller was Grosvenor Americas. Kidder Mathews represented Grosvenor in the deal. The complex has seven two- and three-story buildings and was constructed in 1991. Grosvenor bought it in 2007 and upgraded the clubhouse, gym and units. Coast Equity is actively buying apartments, manufactured housing parks, medical buildings, office buildings and retail valued between $5 million and $25 million. Grosvenor Americas has 2,400 apartments in the U.S. and Canada, mostly on the West Coast.

Tarragon hires marketing boss

Ashleigh Kilcup is the new director of marketing for Tarragon. Kilcup has more than eight years of experience in real estate, and last worked at Apex Facility Resources as director of strategy and sales. She also worked at CBRE and Cushman & Wakefield. Tarragon recently opened an apartment complex in South Lake Union, and is building another apartment complex on Capitol Hill and an industrial project in Sumner.

NAIOP tells ‘Tales from the Vault'

Some big players from local design and construction firms will share their stories in “Tales from the Vault,” the Washington chapter of NAIOP's December breakfast meeting, starting at 7:30 a.m. Dec. 17 at Sheraton Seattle Hotel. They will talk about some of the biggest projects over the last 40 years: how they were built, the risks, teamwork and technology. David Allen of McKinstry will moderate the panel, which includes Rick Redman, chairman emeritus at Sellen Construction; Bill Lewis, chairman at Lease Crutcher Lewis; Jon Magnusson, senior principal at Magnusson Klemencic Associates; and Jud Marquardt, founding partner at LMN Architects. For more information and to register, visit: http://bit.ly/1sd5kBA

Pinnacle promotes Hill to VP

Pinnacle promoted Stewart Hill to vice president of client services. Hill will be in charge of new business opportunities within the company's western division and manage relationships with institutional clients. Hill will continue his work as partner relations director, where he provides support for an affordable housing portfolio of more than 100 properties with 19,000 units across the U.S. Hill has been with Pinnacle since 2008, first as a partner relations director for Cascade Affordable Housing. Pinnacle manages 135,000 housing units and 2 million square feet of commercial property.

Dec 04, 2014

Campbell joins National Development Council

Campbell

Former Cleveland Mayor Jane Campbell will lead the National Development Council's office of public policy and advocacy in Washington. Campbell will advocate for state and federal economic development programs such as New Markets Tax Credits, Low-Income Housing Tax Credits and Small Business Administration loans. NDC has helped finance projects in the Northwest such as Navos Mental Health Solutions clinic in Burien, the Makah tribe's fishing dock in Neah Bay and 12th Avenue Arts on Capitol Hill. It has also worked on public-private partnerships including the University of Washington School of Medicine campus in South Lake Union and Harborview Medical Center's Ninth and Jefferson Building.

Federal Home Loan Bank of Seattle

The Federal Home Loan Bank of Seattle appointed Michelle Griffith of Advocates for Real Community Housing in Ketchum, Idaho, and Andrea Davis of Homeword in Missoula, Montana, to the Affordable Housing Advisory Council. Roy Katsuda of Hale Mahaolu in Maui, Hawaii, was reappointed to represent Hawaii. Cleon Butterfield, senior vice president and chief financial officer of Utah Housing Corp., was named chair of the 2015 advisory council, and Martha McLennan, executive director of Northwest Housing Alternatives in Portland is vice chair.

U.S. Bank opens in Harborview

U.S. Bank will open a branch at Harborview Medical Center on Monday. This is the second U.S. Bank branch to open this year in a major employment center in the region. U.S. Bank opened a branch in Starbucks Center. Diana Sizar will manage the 888-square-foot branch, which will offer checking accounts, savings, loans, mortgages and investments. U.S. Bank has 92 branches in the region.