Jul 26, 2018

NorthMarq does $32M refi deal

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Sawyer Trail Apartments

NorthMarq Capital said Bob Spiro secured $32.3 million in refinancing for the 234-unit Sawyer Trail Apartments in the Pierce County town of Frederickson. Financing was through NorthMarq's Fannie Mae DUS program (delegated underwriting and servicing). The owner wasn't named. Tarragon is expanding the complex, adding about 162 units.

Gramor signs lease in Vancouver

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The Waterfront Vancouver

Boutique law firm McKean Smith has signed a lease at Gramor Development's The Waterfront Vancouver complex in Vancouver, Washington. The firm took 3,600 square feet on the fifth floor of the 70,000-square foot Murdock Building, now under construction. Colliers brokered the deal. Terms were not announced. The 32-acre, $1.5 billion project will have 3,300 residential units, 250,000 square feet of retail/commercial space and 1.25 million square feet of Class A offices. A hotel is also planned. Gramor is based in Tualatin, Oregon, and acquired most of the site in 2008 with unnamed partners. Construction began in 2015.

Avenue 55 hires Holcomb

Holcomb

Seattle developer Avenue 55 has hired Spencer Holcomb, an intern with the company who recently graduated from Gonzaga University. Avenue 55 is redeveloping the Ness Cranes property in Ballard to create West Woodland Business Center. It's also planning an industrial building on Compton Lumber's site in the Duwamish area.

Oakpointe names Ten Trails builders

Oakpointe Communities is developing 2,200 acres near Black Diamond for Ten Trails. The subdivisions will be built by Rudd Development, Ichijo Technological Homes, Conner Homes and Lennar. Model homes are open for viewing. Ten Trails could total 6,000 homes by 2030, along with one million square feet of commercial space. Phase I, with about 350 homes, is now underway.

Jul 19, 2018

Curtis joins JLL

Curtis

Jones Lang LaSalle added Kris Richey Curtis to its tenant representation team. She makes the move from Kinzer Partners. Her specialty is life sciences and biotech, for tenants including Seattle Biomedical Research Institute and GlaxoSmithKline. Curtis previously worked at Staubach Co., now owned by JLL.

Newmark secures Tower Building refi

Tower Building

Newmark arranged a $33 million refinancing for Vance Corp.'s Tower Building, at 1809 Seventh Ave. Michael and Patrick Taylor arranged the loan from John Hancock Life Insurance Co. Vance has owned the 17-story building for decades. Tenants include Downtown Seattle Association, Graphite Design Group and Spectrum Development Solutions.

CREW Fremont tour July 26

Weber Thompson's Kristen Scott and Myer Harrell are leading a CREW walking tour of Fremont's office market. It begins at 3:45 p.m. July 26 at Tableau's Data 1 Building (744 N. 34th St.). Weber Thompson designed the new 110,000-square-foot building and others: the planned Watershed, at 900 N. 34th; Fremont NorthShore, at 1326 N. Northlake Way; and an unnamed new development for Schwartz Co., at 3524 Stone Way N. The tour ends with evening beers at Fremont Brewing. Details and registration: crewnetwork.org.

KM to sell Redmond Tech Center

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Redmond Technology Center

Kidder Mathews will market Redmond Technology Center, at 18300 Redmond Way, for its owners, Bethesda-based Ascentis Real Estate Partners and Dallas-based Transwestern Investment Group. The 10-year-old LEED gold building, with 101,728 square feet, last traded in 2016 for $30 million. KM's Andy Miller, Joe Lynch and Dan Harden have the listing.

JS Coats bolsters team

Licata

Gurtovoy

JS Coats Capital has a new promotion and a new hire. Mike Gurtovoy is now director of debt and equity originations, and Jessica Licata returns to the firm as a senior loan analyst. The Kirkland-based mortgage banking firm was founded by Jeff Coats.

KBS extends Bellevue leases

KBS Realty Advisors of Newport Beach, California, renewed 25,812 square feet in leases at Ridgewood Corporate Square in Bellevue. Guild Mortgage Co. and Hormel Food Sales extended their leases at the property at and near 150-330 120th Ave. N.E. Terms weren't announced. The 14-acre campus has seven buildings with 242,261 square feet. Brian Kelly of Washington Partners represented Guild. Brandon Burrowes of CBRE represented Hormel. Scott Davis of CBRE represented KBS. KBS bought the office park in 2009 for $32 million.