Sep 26, 2019

JLL secures $36M bridge loan

[enlarge]

Bay Vista Tower at 2815 Second Ave. in Belltown.

In a deal that began at Holliday Fenoglio Fowler, now part of JLL, the combined company announced that it has secured $36 million in bridge financing for the owner of the commercial portion of Bay Vista Tower at 2815 Second Ave. in Belltown. The five stories of office space and retail, totaling around 110,000 square feet, sold in 2016 to an LLC associated with Madison Marquette. The podium is sometimes called Bay Vista Office Building; it has 12 commercial condominium units. The 70 residential condominiums above in the 24-story tower are individually owned, and were not part of the deal.

Colliers promotes Stuart

Stuart

Colliers announced the promotion of Joe Stuart to property manager. He'll oversee a seven-building portfolio with 550,000 square feet. It includes 425 Fairview North in South Lake Union and Woodinville Towne Center. (Owners included TMY Properties, Greystar and Stockbridge Real Estate.) Colliers' Tory Glossip said in a statement, “Joe is a rising star in a specialty that plays a critical role in the successful operation of a portfolio of managed assets.”

Heartland adds to team

Esau

Schneider

Wharton

Armitage

Real estate advisory and investment firm Heartland, now part of Laird Norton, has announced four new hires. David Armitage joins as senior asset and portfolio manager; he makes the move from Ikea. Ben Wharton is a new project manager; he comes from RealtyShares. Previously with the University of Washington's capital planning and development team, Evan Schneider is associate project manager. Spencer Esau makes the very short move from Laird Norton to become associate acquisitions and asset manager.