Apr 30, 2020

Thayer Manca lands $27M for refi in Lacey

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Local firm Thayer Manca Residential has secured a $26.8 million loan from Fannie Mae to refinance the recently purchased Callen Apartments in Lacey. A TMR partnership bought the 189-unit property two years ago for an undisclosed price, and has since invested $3.7 million in renovations. The 10-year, 2.99% fixed-rate loan includes full-term, interest-only debt service.

Elion hires Amazon logistics exec

Lambert

Elion Partners of Miami announced that new hire James Lambert will oversee its West Coast logistics division. He makes the move from Amazon, where he was in charge of logistics real estate. He'll remain in Seattle. Elion is invested in over 135 properties, including more than 10 million square feet of industrial space, and values its portfolio at more than $1.5 billion.

Elion's Shlomo Khoudari said in a statement referencing coronavirus, “With consumers forced to stay home, e-commerce has seen an acceleration in sales, placing a strain on inventory levels and supply chains. This catalytic shift in consumer behavior is driving logistics real estate to serve as the infrastructure to answer that demand.”

(Editor's note: Details about the firm's portfolio have been corrected.)

CBRE promotes Beaudine

Beaudine

David Beaudine, an 18-year veteran with CBRE, has been promoted to managing director of local market project management business for Washington state. He's a past specialist in project management for public schools, including districts all over the state. Future projects will include the Port of Seattle's North Satellite Modernization, Spokane International Airports Terminal Renovation and Expansion (aka TREX) and Yakima's Convention Center Expansion.

Apr 23, 2020

Security Properties makes top 50 list

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Security Properties plans to build a 29-story tower with 212 units on the former Two Bells Tavern site in Belltown.

The National Multifamily Housing Council recently released its list of America's top 50 apartment owners. Local shop Security Properties came in 44th, with 25,120 units. The firm, founded in 1969, develops and manages apartment projects all over the West Coast. Its current portfolio now numbers around 123 properties, which it values at nearly $7.2 billion. In the Seattle market, its notable new plans include a redevelopment of the Magnolia Albertsons into a Safeway with 138 units on top; and a 29-story tower with 212 units on the former Two Bells Tavern site in Belltown. Also on the NMHC owners list is Weidner Apartment Homes of Kirkland, at No. 14., with 56,262 units. No. 1 is MAA of Tennessee, with 100,031 units. NMHC also released Top 50 lists for managers, builders, developers and syndicaters. See nmhc.org for the full rankings.

NBS adds Tye to team

Tye

NBS Real Estate Consulting, part of Norris, Beggs & Simpson Cos., announced three new hires in Seattle, San Antonio San Francisco. In Seattle, industry veteran David Tye has made the move from Equity Office, where he oversaw 18 million square feet on the West Coast.

ULI to hold webinar series

The Urban Land Institute, like NAIOP and other industry organizations, has gone entirely virtual with its meetings and conferences owing to the coronavirus pandemic. It has a whole series of upcoming webinars that are free to members and, in some cases, complimentary to non-members too. See spring.uli.org and americas.uli.org for full schedule and details.

Some of the notable presentations panels include Jonathan F.P. Rose of Jonathan Rose Cos., Mark Wilsmann of MetLife and Bradford H. Dockser of Green Generation speaking on “Resiliency in a New Normal” (April 28); Dan Doctoroff of Sidewalk Labs (May 11); “Edge City Density: Building Up the TOD Urban Region” (May 18); and “Breathing New Life into Old Bones: Toolkit for Building Repositioning” (June 19).