Mar 09, 2017

NAI Puget Sound Properties

NAI has acquired Shephard Commercial Real Estate. Founded 11 years ago by Lee Shephard, it manages 15 Seattle properties with over 1.2 million square feet of office, industrial and retail space. NAI bills itself as the largest locally owned commercial real estate brokerage firm operating solely in the Puget Sound region. It has 42 brokers in three offices. Company President Scott Coombs said, “Great management services can significantly enhance the value of a real estate asset, and Lee and his team have been doing this successfully for over 30 years.”

Barrientos takes on a partner

Maria Barrientos has a taken on a partner, Kristin Neil Ryan, and changed the name of her company to Barrientos + Ryan. A new website is expected soon. Ryan previously was with Jonathan Rose Companies, and has developed and managed property in Portland, Berkeley and Seattle, where she is now based. She also worked on schools and multifamily housing in New York with Civic Builders and The Dermot Co. Ryan has degrees from Columbia and Yale. Barrientos' current projects include a 54-unit complex in Pioneer Square called The Cannery, 75 units in Lower Queen Anne and 84 units in the University District. Her firm is also consulting on adding 300 housing units to the Pacific Tower campus and is in the early stages of planning apartments on Teatro ZinZanni's site opposite Seattle Center. TZZ is leaving this month. The new owner of the site is Washington Holdings, which wants to build between 275 and 350 units, likely in an eight-story building.

Security Properties

Security Properties said it paid $27.2 million for an apartment complex in Las Vegas. The 342-unit Orchard Club was developed in 2001 as affordable housing. JLL Capital Markets helped finance the deal. Security Properties owns about 1,400 units in and around Las Vegas. In a statement, the company's Bryon Gongaware said, “This acquisition increases our already strong investment in the Las Vegas market, and allows us to preserve this high-quality affordable housing community for the next 15 years with energy efficiency upgrades and capital investment.” Orchard Club is income-restricted through 2032. It will be managed by Madrona Ridge Residential, an affiliate of Security Properties.

Mar 02, 2017

Newmark Grubb Knight Frank

Billy Sleeth

Paul Sleeth

Newmark Grubb Knight Frank said Paul Sleeth and Billy Sleeth have joined the firm's retail capital markets team. The brothers were at Colliers and have been named executive managing directors at NGKF. Combined, they have worked on over 250 transactions and $5 billion in asset sales. In a statement, NGKF's Kevin Shannon said, “Paul and Billy are further evidence of our ability to hire remarkable talent. Their relationships and reputation are symbiotic with our highly-diversified client base.” Also moving to NGKF are senior project manager Mattie Tonseth and associate Aubrey Williamson. NGKF is a part of BGC Partners, a global brokerage serving financial and real estate markets.

ULI Northwest

Our local chapter of Urban Land Institute is looking to hire an associate. The ULI says on its blog, “Our work group is the productive force behind an array of programs and initiatives in real estate development and land use in the Pacific Northwest. The associate is the ‘hub' of ULI Northwest, providing project and administrative support while juggling a variety of tasks. Just like a nimble plate spinner, the strongest candidate will be highly organized, energetic, able to multi-task effectively, and do it all with a smile.” Interested parties should see northwest.uli.org for a full job description and details.

CREW

Commercial Real Estate Women Seattle & Sound's South Sound luncheon is Tuesday, March 21, and the topic is the Tacoma Convention Center hotel and mixed-use development. Speakers will be David Kelley and Jason Lamb of Ankrom Moisan, David Johnson from the city of Tacoma and Vanessa Herzog of Kidder Mathews. The phased project will include a 300-plus room hotel with retail and ballroom space, followed by 200 units of housing as well as retail and office space. The event starts at 11:30 a.m. at Hotel Murano, 1320 Broadway Plaza. More info and details: crewss.memberclicks.net.

The Seminar Group

The Seminar Group's seventh annual conference on eminent domain is set for May 18 at Crowne Plaza Seattle. It is chaired by Bart J. Freedman of K&L Gates and Kinnon W. Williams of Inslee Best Doezie & Ryder, and will look at the Trump administration's plans for deregulation and infrastructure, a Washington transportation finance package and record growth in the Northwest. Representatives from Sound Transit, SDOT and WSDOT will participate. For more info and registration: theseminargroup.net.