Jan 23, 2020
Panattoni Development has added a fresh face with a familiar name to its Tacoma office. The firm announced the addition of Bjorn Brynestad, who makes the move from Kidder Mathews. He's the son of Panattoni's Bart Brynestad. The new hire will also report to Travis Hale. Panattoni currently has about 4 million square feet under development, a number that may not include the 800,000-plus square feet planned for the 54 acres in Kent recently purchased from Boeing, aka Pacific Gateway.
Lee & Associates has entered the multifamily market with a bang. It announced the recent hiring of a five-person team from SVN Whitecap Commercial Real Estate. They are: Candice Chevaillier, Daniel Lim, Lee Loveland and Edward Milton-Moncivaiz. They'll join Don Flanigan, who moved to Lee last fall from JLL. Lee's Jim Bowles said in a statement, “When we first opened our Seattle office to service the Puget Sound Region three short years ago, we knew that we wanted to focus on all parts of the commercial real estate brokerage business, including and especially the multifamily arena.” Chevaillier said her team was now looking at some 900 local projects with a possible 120,000 units. Lee is a national company with 65 offices and over 1,000 brokers.
Kidder Mathews announced that valuation expert and industry veteran Andy Robinson is now a managing director for the firm. Among his other industry accolades, he holds an MAI designation from the Appraisal Institute. He'll oversee valuation services in the Northwest region, the Southwest and West Coast.
The ULI's Young Leaders Group will have a social and networking event at Skanska's fully leased new 2+U. The taco-centric gathering will be at 5:30 p.m. Feb. 6 at 1201 Second Ave. Details and registration: northwest.uli.org.
Talon Private Capital has nabbed Katherine Samson away from Schnitzer West, where she oversaw about 3.6 million square feet. Before that, she was with Bentall Kennedy, in charge of a $500 million portfolio. Her new post at Talon is director of asset management. She has an MAI from the Appraisal Institute, and is an active member of the Urban Land Institute.
American Campus Communities announced that, in partnership with local nonprofit Urban Artworks, that it's adding a new mural to its Hub U-District building at 5000 University Way N.E. The unveiling was yesterday for the famous frog-like “Jeremiah the Innocent” image created by the late artist and musician Daniel Johnston (1961-2019). The drawing was originally the album cover for his 1983 recording, “Hi, How Are You: The Unfinished Album.” ACC also owns an Austin building graced with another such mural. Yesterday's event was part of National Mental Health Awareness Month and Hi, How Are You Day, when friends are supposed to check on one another's mental health. ACC bought the 111-unit, 248-bed Hub U District three years ago as part of a larger portfolio deal. It's currently planning two towers with 224 units on the nearby site of Temple United Methodist Church, which will sell that corner property but later return to a new space in the building.
Jan 16, 2020
Quadrant Homes is now marketing two new townhouse communities on the Eastside. Opening Jan. 25 in Totem Lake is the 82-unit Vareze at 11530 117th Lane N.E. Prices start in the $700,000s, and sizes run from 1,283 to 2,209 square feet. Quadrant acquired the 4-acre site in 2017 for $9.3 million. It's next to Eastside Subaru, and close to the Cross Kirkland Corridor trail.
Quadrant expects to open the 46-unit Lario in March. That's at 1135 124th Court N.E., on Bel-Red Road, which is walkable to the future light rail station at the Spring District, set to open in 2023. Prices start in the $800,000s, and sizes run from 1,160 to 2,136 square feet. Quadrant acquired the 2.5-acre site in 2018 for $11.4 million.
Emerald Capital Funding of Federal Way announced its recent merger with Pacific Equity & Loan, and Emerald will now operate under the latter's name. Christopher Robison, who founded Emerald, said in a statement, “The move comes amid a rapidly evolving mortgage industry in specifically the private money and hard money lending sector. We are noticing a lot of new players from other states that might not know our market as well as we do.” The combined firm also has an office in Lakewood.
That's the topic NAIOP will address at its monthly breakfast in February. Speaking will be Christopher Bledsoe of the startup Ollie, which doesn't yet operate here. (It's in New York, Pittsburgh, Los Angeles and Boston.) Other panelists will be confirmed later. The event takes place at the Four Seasons at 7 a.m. Feb. 26. Details and registration: naiopwa.org.