Mar 26, 2015

NBS gets financing for The Douglas

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Mike Wood and Austin Johnson of NBS Financial Services arranged $18 million in permanent financing for The Douglas, 81 units of student housing with 259 beds at 1223 E. Cherry St. near Seattle University. NBS represented the lender, Nationwide Insurance. NBS Financial is part of NAI Norris, Beggs & Simpson, a real estate company in Portland.

Metzler promotes Franceschina, Paddock

Paddock

Franceschina

Metzler Real Estate promoted Steven A. Franceschina to chief operating officer and Matthew Paddock to senior managing director. Franceschina will oversee Metzler's $3 billion in U.S. real estate assets. Paddock will work on West Coast acquisitions, and oversee the U.S. real estate fund. Metzler is a real estate investment company based in Seattle. It is the North American affiliate of B. Metzler seel. Sohn & Co., the oldest private bank in Germany.

McAvoy hires 2

Beaumont

Ahrens

McAvoy Real Estate, a Seattle-based condo sales company, hired Larry Ahrens and Chanell Williams-Beaumont to work on the sales team for Luma, a 24-story, 168-unit condo on First Hill. Lowe Enterprises and Swedish pension fund Alecta are the developers. The building is under construction, and sales are expected to begin in April. Ahrens worked at TeamBuilder KW and represented MainVue Homes. Ahrens worked at Schnitzer West, Windermere OnSite and Miller Condominium Marketing. Williams-Beaumont worked at Coldwell Banker Bain, Marcus & Millichap Real Estate Investment Services in Encino, California, and Realogics Sotheby's International Realty in Seattle.

Red Lion opens Eugene hotel

Spokane-based Red Lion Hotels Corp. has converted a hotel at 599 E. Broadway in Eugene, Oregon, to Red Lion Inn & Suites. Red Lion will upgrade rooms and the gym. AA Hotel Management Co. will manage the property. Red Lions officials say they plan to grow to 100 hotels in 100 weeks. The company has 56 hotels, 38 of which are franchised.

Berkadia does deals in Tacoma, Portland

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corp., negotiated apartment sales in Tacoma and Portland. Kenny Dudunakis of the Seattle office and Jim Jensen of the Tacoma office negotiated the sale of Eagles Landing Apartments, a 230-unit property in Tacoma, for $18.5 million, or $80,435 per unit. Goodman Real Estate was the buyer. Phil Oester and Joe Nydahl of the Portland office negotiated the sale of Westover Tower Apartments in Portland's popular Alphabet District. The 70-unit building was 95 percent leased when the sale closed last month. No price was given.

Mar 19, 2015

CHH will honor Liberty Bank

Courtesy Joshua Okrent for CHH

Left to right: Michelle Purnell-Hepburn, Derryl Durden, Merle Richlen and Jocquelyn Duncan are on Capitol Hill Housing’s Liberty Bank Advisory Board.

Capitol Hill Housing convened an advisory board to look at ways to honor Liberty Bank, the first bank west of the Mississippi River to focus on serving the African-American community.

In 2013, CHH bought a site where the bank had a branch at 24th Avenue and Union Street with plans to build a mixed-use affordable housing complex.

The board recommends naming it Liberty Bank Building and integrating the bank logo into the signage. It also recommends reusing the brick exterior, vault door and number plates from safety deposit boxes, as well as displaying historic photos in the building.

The board is Jocquelyn Duncan, Derryl Durden, Merle Richlen, Michelle Purnell-Hepburn, George Staggers and Pastor Reggie Witherspoon.

Ford wins award

Ford

Laura Ford of Colliers International was named one of the Most Powerful and Influential Women of Washington by the National Diversity Council. The council says winners have overcome barriers to make it to the top of their field. Ford has spent more than 20 years as a commercial real estate broker in Seattle and worked on some high profile leases. She represented Talon Private Capital and Prudential Real Estate Investors in a 200,000-square-foot lease to Amazon in 1800 Ninth, and Shorenstein Properties and Wright Runstad & Co. on a 300,000-square-foot lease with Zulily at 2601 Elliott.

CREW offers scholarships

Commercial Real Estate Women is offering scholarships for women pursuing a career in real estate. CREW is working with the Goldie B. Wolfe Miller Women Leaders Initiative and Prudential Real Estate Investors to provide 10 scholarships worth $5,000 as well as a paid internship, free membership at CREW and a CREW mentor. Women must be full-time students with at least a 3.0 GPA. Applications are due April 30. For more information, visit: http://www.crewnetwork.org.

Condo seminar May 7

The Seminar Group will hold an all-day event about condo development May 7 at Hilton Seattle. Topics include the state of the market; new development; new materials and technologies; and legal issues. Gregory A.V. Clark of Foster Pepper and Daniel Zimberoff of Barker Martin are co-chairs. For more information, or to register, visit: http://bit.ly/1CqOd2g