Mar 19, 2020

CBRE secures $115M for Danforth deal

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The two-year-old Danforth, at 1425 Spring St., on First Hill, sold in December for about $209 million to Vanbarton Group of New York. Brokers were not announced at the time. (Columbia Pacific Advisors was the developer and seller.) Now CBRE has provided some transaction details. Its John Lo secured $115.5 million for Vanbarton from an unnamed European lender. The interest rate wasn't specified, but Lo called it “historically low.” The 16-story, 265-unit Danforth is now 96% leased, according to CBRE. Its anchor tenant is Whole Foods.

ULI offers coronavirus webinar

The Urban Land Institute is offering a free webinar on the coronavirus and how to slow its spread. ULI says in its announcement that building-management and operational strategies can support and complement comprehensive social distancing measures. The webinar will offer advice from experts in infectious disease, healthy buildings and pandemic planning. It starts at 10 a.m. March 24, and is available to both members and non-members. See http://bit.ly/2xHoys3 for details and registration. Meanwhile, the ULI, NAIOP and other industry groups have canceled all in-person events. ULI's Urbanism Next conference, which had been scheduled for May 13-15 in Portland, is moving entirely online.

JLL names Sally to lead West Coast team

Sally

JLL announced the recent hiring of Ronald Sally as senior vice president for its sports, entertainment and higher education division. He'll be based in Denver, but lead efforts all up and down the West Coast. He makes the move from the Denver office of CAA Icon. JLL's Jacqueline Dompe said in a statement, “Ron's experience navigating the complexities of impactful community projects is impressive. He approaches project leadership with thoughtful perspectives and quickly understands priorities of diverse stakeholder groups.”

(Editor's note: The story has been corrected to say that Sally will be based in Denver.)

Broadmark promotes local pair

The Seattle office of Broadmark Realty Capital announced the recent promotions of Linda Koa to chief operating officer and Dan Hirsty to chief credit officer. Both have been with the firm for about three years. Last year Trinity Merger Corp. acquired Broadmark Capital's real estate lending and management companies, thus creating the new Broadmark Realty Capital REIT.

JLL adds Ellis

Alanna Ellis has joined the Seattle office of JLL, the company announced. She makes the move from IPG Investments. JLL says she'll be responsible for sourcing debt and equity placement business with a particular focus on health care, senior housing and hospitality transactions.

Mar 12, 2020

MainStreet opens Bothell apartments

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MainStreet Property Group has opened The Pop in Bothell. The five-story, 118-unit building was designed by GGLO and built by MainStreet affiliate GenCap Construction. Work began in mid-2018. The Pop is named for late local football coach Harold “Pop” Keeney. It's targeting LEED Gold certification, with green features including low-VOC paint, Energy Star appliances and LED lighting. MainStreet says The Pop, at 9634 Thorsk St., is the fifth new mixed-use project downtown, where the city is encouraging more density. Of the building's 12,500 square feet of commercial space, the lead tenant is Birch Tree Academy, a STEM-based preschool.

Gantry secures $40M for A&D Building

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Gantry announced the recent $40 million loan to the developers of the renovated Ainsworth & Dunn Building and new companion 10 Clay St. apartments. Gantry's Mike Taylor and Mike Wood arranged the 13.5-year term financing from Principal Global Investors. Taylor said in a statement, “We were able to get the lenders comfortable with this deal because of the strong sponsor, the quality of the project and the track record of co-working firm Spaces, which occupies space in the office A&D Building.” That landmarked former warehouse is at 2815 Elliott Ave. Weinstein A+U designed the renovation and addition, plus the 62-unit apartment building. Walsh Construction Co. was the contractor, and Meriwether Partners was the developer. Gantry recently acquired the commercial mortgage banking division of Norris, Beggs & Simpson, with Wood and others joining its Seattle office.

NorthMarq lands $19M for Sumner units

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NorthMarq announced that its Bob Spiro and Scott Moline have secured almost $19.5 million in financing for The Main Apartments + Lofts. The 108-unit community opened in November at 15367 Main St. E. in Sumner. Tarragon was the developer and general contractor for the seven-building complex, which also includes about 1,600 square feet of retail. It was designed by Tiscareno Associates.

Weidner receives lifetime honor

Weidner

Dean Weidner, the founder in 1977 of Weidner Apartment Homes, just received a lifetime achievement award from the Washington Multi-Family Housing Association. His firm now has a portfolio with about 280 properties over 56,000 units in the U.S. and Canada, making it the nation's 15th-largest multifamily operator. The company is based in Kirkland.