Sep 22, 2023

Tanana Chiefs Conference

The Tanana Chiefs Conference (TCC) was awarded a $35 million grant to install high-speed broadband in three underserved TCC communities. The 100% fiber-based network will be installed in the villages of Venetie, Chalkyitsik and Circle. The project is part of the Alaska FiberOptic Project, which is a larger collaboration between Calista Corporation, Doyon, Limited, Gana-A ‘Yoo Limited, Tanana Chiefs Conference, and Alaska Communications to connect more than 20 communities in the Yukon and Kuskokwim regions, beginning in Fairbanks and extending to the Bering Sea Coast. The terrestrial fiber network will begin in Fort Yukon and extend to Venetie. Submarine fiber cable will be placed in the Yukon River to connect Fort Yukon and Circle. Residents and businesses will receive Gigabit speeds through a fiber-to-the-home connection. The project is the collaborative work of Tribes, Tribal nonprofit organizations, government and telecommunications entities.

Connecting all communities across the United States to high-speed internet is a central part of President Biden’s Investing in America agenda to rebuild the economy by rebuilding the nation’s infrastructure. Alaska Communications will build, operate, and maintain the network and service. Tanana Chiefs Conference is an Alaska Native non-profit corporation that works toward meeting the health and social service needs of the Alaska Native people living within the 235,000 square mile region in Interior Alaska. TCC was formally founded in 1962.

Sep 21, 2023

City of Tacoma

The city of Tacoma, along with others involved in the Green Tacoma Partnership, invites community members to participate in Green Tacoma Day and Tacoma's Arbor Day events 9 a.m.-noon on Oct. 14. Volunteers can plant trees, remove weeds and litter, and other activities to spruce up local green spaces. Tools, gloves and training will be provided. Events will be held at the following locations: Gog-le-hi-te Wetlands, Clover Creek Technical College, McKinley Hill, Lincoln Park, Proctor Business District, South Ash Open Space, Trafton Open Space, Titlow Park, Swan Creek, Kandle Park, Fred Meyer (at South 74th and South D streets), and Spanaway Park. More information is available at http://www.greentacomaday.org. Tacoma and Pierce County residents can also participate in the city of Tacoma's Tree Coupon Program. Coupons can be requested Oct. 1-March 15, 2024, at http://www.cityoftacoma.org/treecoupon. Green Tacoma Partnership affiliates include the Tacoma Tree Foundation, Pierce Conservation District, Communities for a Healthy Bay, city of Tacoma, Metro Parks Tacoma, and the South End Neighborhood Council.

Emerald Heights

Emerald Heights, a senior living community in Redmond, recently received an 'A-' rating from the Fitch Ratings agency to approximately $118.7 million in tax-exempt issued bonds from the Washington State Housing Finance Commission. The rating reflects Emerald Heights' financial profile and the community's market position, occupancy rates, and room for growth opportunities. The rating incorporates the community's planned series 2023 debt issuance, which totals approximately $118.7 million tax-exempt series 2023A, series 2023B-1, and series 2023B-22 revenue bonds. The new debt will primarily be dedicated to refund outstanding debt. However, the additional funds will go toward the construction and completion of the new 42-unit independent living community, The Courtyard Apartments, and the 54-unit assisted living expansion on the Emerald Heights campus. Emerald Heights also plans to use the entrance fees from the independent living expansion project, Courtyard, to pay down approximately $33 million of the debt. Emerald Heights is a not-for-profit senior housing and services organization, with an on-site healthcare center providing assisted living, memory support and Medicare-certified skilled nursing care.

Alliant Insurance Services

Nicole Kunz has joined Alliant Insurance Services as vice president within its Employee Benefits Group. Based in Portland, Kunz comes to Alliant with more than a decade of combined sales and benefits experience. Prior to joining Alliant, Kunz was a principal at a large consulting firm. She earned her bachelor's degree from Portland State University. Alliant Insurance Services is a distributor of diversified insurance products and services, operating through a network of specialized national platforms and local offices.

JLL secures $61M for industrial quartet

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EverWest Real Estate Investors paid over $15 million last year for an industrial property on the Duwamish Waterway, aka the Lonestar Building. (Pictured, it's the blue building just left of the junction of First Avenue South and East Marginal Way South.) It's part of a four-building portfolio that recently benefited from an over $61.3 million refinancing package arranged by JLL. Its team, based in Denver, included Eric Tupler, Kristian Lichtenfels, Brian Dawson, Kaden Eichmeier and Jillian Mariutti. The lender, per county records, was GIM Commercial Mortgage Loan Fund LP, an entity of J.P. Morgan Asset Management. JLL says the portfolio is over 98% leased. The other three buildings are in Denver, Long Island (New York) and Nashville. EverWest, also based in Denver, is a regular in our market, and its Tom Karbowski said in a statement, “Big thanks to the teams at J.P. Morgan Asset Management and JLL for all of their help in getting this financing completed in a challenging financing environment.”

Kidder Mathews

Alexander

Clemson

Kidder Mathews recently announced two key moves at its valuation advisory group. First, industry veteran Randall Clemson has been promoted to oversee the group at a national level, with the new title of executive VP. He'll continue to work in the Phoenix office. Second, here in Seattle, Justin Alexander has joined the valuation group as a senior VP; he makes the move from Partner Valuation Advisors. Clemson said in a statement, “We are very excited to have Justin join the Kidder Mathews Seattle team. He grew up in the Pacific Northwest, and has many deep relationships in the commercial real estate industry. Kidder Mathews VAS is rapidly expanding due to its market-leading platform and the highest splits in the industry.”

Meet Alison Beddard!

Beddard

NAIOP has a periodic series of events, dubbed Dealmakers, open to its student members and developing leaders program members. The next such gathering will be on Sept. 26 to hear from Cushman & Wakefield's Alison Beddard, a widely respected industry figure. She relocated here from C&W's Salt Lake City office two years ago. The event will be held at DLR Group's downtown offices, near the waterfront, beginning at 4 p.m. Details and registration: naiopwa.org.

Another housing effort from Amazon

By now you're familiar with Amazon's $2 billion national Housing Equity Fund, which launched two years ago. It's helped support or preserve hundreds and hundreds of affordable units in our region, and some 5,300 units nationwide. Those have been rentals. Now there's a new pilot program, in partnership with the nonprofit National Housing Trust, to invest $40 million toward increasing homeownership. The fund's Senthil Sankaran said in a statement, “This new initiative will allow us to explore ways to help more moderate-income households realize their dreams of homeownership and, in turn, help build wealth that can pass on to the next generation.” In our region, the pilot program will work with African Community Housing & Development and Homestead Community Land Trust and Habitat for Humanity Seattle-King Counties & Kittitas. The latter will use an unspecified amount of fund money to help 50 families make down payments this year. And Habitat is also planning 240 new homes for the sales market, also supported by the pilot program. Other details should emerge from the other two local partners on a project by project basis.

Lee adds to south Puget Sound team

Lee & Associates announced the recent hiring of two new brokers, to be based in its Tacoma office. Those are Zachary Ota and Michael Ota, who will be vice presidents. They make the move from CBRE. Lee's Jim Bowles said in a statement, “Zachary and Michael are valuable additions to our Tacoma team, which includes 13 seasoned and market leading commercial brokers. The Otas expertise will bolster our service offering in the South Sound commercial market.”