Jun 11, 2020

Dermody adds to team

Keever

Dermody Properties announced that it has hired Karsen Keever as senior VP of development. He makes the move from Jon Graves Architects and Planners. Logistics specialist Dermody is based in Reno and has a Seattle office. Among its current projects is the planned 452,000-square-feet Mountain View complex on 67 vacant acres now owned by Cadman Materials in Everett, north of Paine Field.

Columbia Pacific Advisors makes $22M loan

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Local firm Columbia Pacific Advisors has stepped in with a $22 million bridge loan for a 42-unit San Francisco project now under construction by related companies Greenseed Folsom and Transworld Construction. The building, designed by David Baker Architects, is expected to open in September. Columbia Pacific's Will Nelson said in statement, “Despite the impacts of COVID-19, we believe in 1178 Folsom Street and the more affordable nature of its product, which provides quality apartments and amenities to residents in the popular SoMa neighbourhood.”

Jun 04, 2020

Work starts on second Rainier Square tower

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It's no secret that Wright Runstad has been working on the 10-story 400 University office tower planned at Rainier Square. The tower crane went up in March, and the jobsite has been gradually coming back to life since work was paused that month due to the coronavirus pandemic. Now it's official. The company, with new financial partner Intercontinental Real Estate, yesterday announced its official groundbreaking on the 122,000-square-foot speculative project. NBBJ is the architect and BNBuilders is the general contractor. Completion is expected by July 2021. Greg Inglin and David Abbott at Colliers are marketing the space. Jeffrey Weber and Jason Flynn of Eastdil Secured arranged the JV with Intercontinental, of Boston. (That firm, with a portfolio worth about $10 billion, recently acquired Roosevelt Commons in the University District for $157 million.) Wright Runstad's Walt Ingram said in a statement, “400 University reflects our continued belief in downtown Seattle and the long- term prospects for its economic growth and office demand.”

Prado expands to Seattle

McCormick

Prado Group of San Francisco recently announced that it was dispatching Bridgett McCormick to Seattle to become acquisitions manager for the Pacific Northwest region. Prado's Zach Felson said in a statement that the company would be focused on the Seattle market as it expands into the region. The 17-year-old company values its current and planned portfolio at about $2 billion. All of that appears to be apartments over retail in the Bay Area.

Caliber joins Compass

Ian Morell

Jillian Morell

Lazo

Albers

The newly renamed Caliber Group recently said that its 60 brokers have joined Compass. Caliber founders Zack Lazo, Ian Morell, David Albers and Jillian Morell announced the decision to merge. Caliber says it did about $312 million in deals last year. Compass is far larger, with national reach. Its 2019 deal total was around $91 billion.