homeWelcome, sign in or click here to subscribe.login
     


 

 

People & Companies

Feb 29, 2024

Travis Hale gets top spot

Hale

Panattoni Development's Travis Hale was recently named President of the Year by NAIOP. The honor was bestowed earlier this month at a NAIOP gathering in Washington, D.C. Hale leads our state chapter of NAIOP and has, since the beginning of his tenure, grown its membership to over 1,130 people. He also launched a University of Washington scholarship program for its commercial real estate certification program. The organization said in a press release, “NAIOP Washington State congratulates Travis Hale on this achievement and extends its deepest appreciation for his leadership of the association.”

Kidder Mathews

Chaney

Kidder Mathews announced that its veteran broker Jeff Chaney was recently awarded SIOR designation. (That's the Society of Industrial and Office Realtors.) Chaney has been with the firm since 1996, focusing mostly on the Eastside market. KM said of the credential, “The prestigious SIOR designation recognizes the most knowledgeable, experienced, and successful professionals in today's commercial real estate industry.” Some 44 brokers at KM also have SIOR status, the most in our region.

Amenity Wars!

That's the topic to be discussed at NAIOP Washington State's next monthly breakfast, to be held at 8 a.m. March 13 at the Four Seasons. The range of tenant perks and enticements, in both office and multifamily properties, is only growing broader, more posh and — some might say — frivolous. Addressing the amenity arms race will be Bernadette Kelly of Weber Thompson, Raymond Connell from Holland Partner Group, Megan Murphy of Vulcan Real Estate and Hudson Pacific Properties' Tony Toppenberg. Details and registration: naiopwa.org.

Kidder Mathews

Renshaw

Kidder Mathews announced the recent hiring of a new broker: Matthew Renshaw, who makes the move from CBRE. His new post will be senior vice president, with an emphasis on tenant advisory services. He said in a statement, “My clients require and demand the best service, and it's my job to deliver that. As the premier commercial real estate firm on the West Coast, Kidder Mathews is well-positioned to support me in delivering excellent results, both now and in the future.”

Gantry arranges over $6M refi deal



Gantry recently secured a $6.2 million refinancing package for Lake Union Center in Wallingford. The building is fully occupied by Lumen Bioscience. The lender was an unnamed life insurance company. The owner and borrower was Seattle Investment Partners, led by George Neffner, which developed the 65,000-square-foot building two dozen years ago. Gantry's Mike Wood and Colin Ceithaml led the recent funding effort. The 10-year loan features a fixed rate and 25-year amortization period. Said Wood, “While office remains the most challenging asset class to underwrite, as market forces and cycle shifts impact both occupancy and values, this asset checked all the boxes for a qualifying loan, including its lakefront location, Class A status, stable occupancy and conservative leverage.”

Kidder Mathews

Chelico

After many years at JSH Properties, retail leasing specialist John Chelico is joining Kidder Mathews, that firm recently announced. He'll be based in the Seattle office, with the new title of senior vice president. He said in a statement, “I'm very happy to be here, and look forward to sharing in the firm's ongoing success.”

Feb 15, 2024

Rosario Resort finds buyer

We won't know the price or new owner's name until the deal closes at the end of this month, but Rosario Resort announced that it will shutter itself for much of February for renovations before changing hands. The Barto family acquired the 83-acre Orcas Island waterfront property back in 2008, then paying about $55 million. It was listed last year by Scott Cameron and Wes Falkenborg at Land Advisors Organization. The reported asking price was $15 million. The family said this week, “The new owner plans a substantial upgrade, beginning with the historic Moran Mansion.” That grand home is over a century old. The resort also includes a spa, restaurant, 65 rooms and various amenities for guests.

Broderick Group

To

Broderick Group announced its recent hiring of Kyla To, who becomes director of operations and marketing. The firm said in a press release, “Kyla knows the art of building lasting relationship, project management and thinking creatively through sales enablement and marketing tactics. She looks forward to leveraging her background while ensuring the highest levels of excellence, quality, and service for the benefit of Broderick Group's valued clients.”

JLL secures $79M refi in Bremerton

Marina Square

Completed almost exactly one year ago by developer Sound West Group, Marina Square is the large new mixed-use project on Bremerton's downtown waterfront, overlooking the city's marina. Now that its retail and 270 apartments are up and running, it's time to refinance the project and retire the old construction loan. JLL announced that it recently secured $79 million in refinancing from TPG Real Estate Credit. The effort was led by Tom Wilson, Steve Petrie and Seth Heikkila. The latter said in a statement, “Over the next several years, market dynamics in Bremerton are forecasted to outperform relative to most of the country, driven in large part by exciting new developments with the Puget Sound Naval Shipyard and Naval Base Kitsap. This will only further drive demand for high-quality multi-housing rental assets like Marina Square.” As for the 9,158 square feet of retail, JLL says that a deli, the Market at Marina Square, is now open, and that a YMCA and restaurant are coming.

Emerald Communities

Feddersen

Senior housing operator Emerald Communities announced the recent promotion of its Denisa Feddersen, who moves from her prior role as corporate controller to become VP and CFO. Emerald's Lisa Hardy said in a statement, “Denisa has proven to be a highly valued leader for the finance team, successfully leading the budget processes for Emerald Communities, Emerald Heights and Heron's Key. We are proud to promote Denisa and excited to watch her thrive in her new role.”

Berkadia lands $21M loan for Pierce County deal

Duo

As the DJC reported earlier this month, the fairly new 104-unit Duo apartments in University Place sold for nearly $30.5 million. The seller was builder/developer SEB Development, and the buyer was a private investor group. Now Berkadia has shed a bit more light on the Pierce County deal. Its Michael Manolides, Robert Doxsee, Michael Basinski and Brad Williamson secured a $21.5 million loan for the buyer. The lender was Bayview, of Coral Gables, Florida. Manolides said in a statement, “Despite the volatility in the capital markets and the unique nature of the in-progress lease-up, Berkadia was able to find a non-recourse, fixed-rate loan, which greatly reduced the sponsor's interest rate risk over the near term.”

More People



Email or user name:
Password:
 
Forgot password? Click here.