Operations - Seattle

  • Enterprise Community Investment Marks 2,000th LIHTC Investment

    Cheryl Chow Court, located in the Ballard neighborhood of northwestern Seattle, offers 50 studio and one-bedroom affordable apartments for formerly homeless and low-income seniors in an area undergoing a boost in development of luxury, market-rate apartments.

    30 April 2015 13:43
  • PM Hospitality Set to Operate New Portland Hotel, Part of Hilton’s Most Recent Brand

    The growing appeal of the Pacific Northwest means that more companies are looking to establish a presence in the region. Hospitality has been a huge component in the conversation regarding major cities in the area, such as Seattle and Portland. The two largest cities in the Pacific Northwest are currently both looking for options to increase the amount of convention space and the number of rooms that could accommodate the growing amount of tourists and business travelers. The latest hospitality company announcing an expansion in the area is PM Hospitality Strategies, Inc., with the company being selected to operate a new Canopy by Hilton facility in Portland’s Pearl District.

    20 November 2014 05:00
  • Newport Crossing Community in Newcastle Sold by Security Properties

    The Newport Crossing residential community in Newcastle, WA, was recently sold by owner Security Properties Inc. in a deal worth a reported $38.8 million. The company unloaded the community through its Security Properties Multifamily Fund, at a substantial hike from the fee that the multifamily real estate owner acquired the asset back in 2012, $30.35 million. The increase in transaction value was not only the result of the improving real estate market of the Pacific Northwest, but also of a value-add renovation program carried out at the property.

    19 November 2014 17:00
  • Portland’s Block 300 Receives LEED Gold Certification as Leasing Continues at Newly Renovated Asset

    Block 300 in Portland, one of the most high-profile office properties in the Pacific Northwest city has recently completed a major milestone. The property was awarded with LEED Gold certification for Existing Buildings: Operations & Maintenance by the United States Green Building Council. The certification is a result of the recent modifications brought to the asset, a recent renovation process having been carried out at the facility by the owning joint venture between JPMorgan, Starwood Capital Group, and Kaufman Jacobs.

    12 July 2014 04:59
  • TruAmerica Multifamily Purchases Third M

    TruAmerica Multifamily recently closed the purchase of a multifamily complex located in the Seattle suburb of Renton in a deal worth a total of $28.7 million. The L.A.-based real estate investment firm has further expanded its metro Seattle portfolio with the purchase of the Montclair Heights, after completing two other residential acquisitions in the market over the past six months.

    29 June 2014 03:29
  • Bristol I at Southport Scores $27.6M Loan Arranged by Johnson Capital

    Johnson Capital recently completed a financing deal for an apartment complex in Renton, Washington. The company has provided a loan worth $27.6 million for the Bristol I at Southport community, a residential property completed back in 2002. Amos Smith and Sea Skelton, currently with Johnson Capital’s Irvine, CA office worked on behalf of the property owner to arrange the financing for the asset.

    16 June 2014 04:54
  • HFF, Berkadia Complete Financing Deals for Pacific Northwest Properties

    Pacific Northwest property owners and real estate investors are completing financing deals for properties as the area continues to develop, in an attempt to boost their chances at securing promising properties, or improving assets in their existing portfolios. Berkadia Commercial Mortgage LLC and Holiday Fenoglio Fowler LLC both arranged financing deals for properties in Seattle and Portland respectively.

    10 May 2014 04:14
  • Schuster Group Sells Joseph Arnold Lofts in Belltown, While Lining Up More High-Rise Residential

    A prominent Schuster Group-owned multifamily project in the Seattle neighborhood of Belltown recently traded hands. The Joseph Arnold Lofts traded hands for a fee of $68.2 million.

    02 May 2014 18:33
  • Multifamily Picks Up: TruAmerica Buys, Berkadia Finances Seattle Properties

    The Pacific Northwest has seen an upswing in activity in its multifamily market during the first quarter of 2014, with residential deals and projects taking the center stage in a market that was very focused on its office sector. This past week has seen TruAmerica Multifamily acquire a West Seattle residential complex, part of a partnership with Intercontinental Real Estate Corporation. The buyer paid a fee of $27 million for the Westhaven Apartments. The move is part of the investor’s strategy of amassing a $1 billion real estate investment portfolio by the following year.

    07 April 2014 04:49
  • Portland Hospitality Heats Up: Lloyd Center DoubleTree Goes Up for Sale, Governor Hotel Gets New Name

    The debate over the development of a major hotel-convention center in downtown Portland has been going on for quite a while. Now, a property that could influence willing investors has been put up for sale by its owner, prompting new discussions about a new major hospitality project in the city. Mount Kellett Capital has reportedly hired Eastdil Secured to handle the marketing process for the DoubleTree by Hilton Hotel in the Lloyd Center. The property is currently valued at around $100 million, according to the Portland Business Journal.

    04 March 2014 15:04
  • NorthEdge Office Development in South Lake Union’s Wallingford Fast-Tracked by Touchstone

    A number of projects in the booming submarket of South Lake Union have raced to the development process, while others have lingered in the early stages of planning. Now, a project that had been long-announced is reportedly being fast-tracked by the company in charge. Developer Touchstone recently announced that it will put the pedal to the metal on its NorthEdge, a commercial real estate development project that had been in limbo for a while.

    25 February 2014 14:27
  • Hudson Pacific Agrees to $57M Fee for Merrill Place in Off-Market Transaction

    A purchase agreement for an office and retail asset in Seattle’s Pioneer Square submarket was recently struck between buyer Hudson Pacific Properties and a joint venture between Angelo Gordon, Nitze-Stagen and Mile Rock Capital. According to a recently released press statement, the off-market transaction will have a value of approximately $57.7 million. That same statement pegged the closing date for the deal sometime next month.

    28 January 2014 05:41
  • 65-Year-Old Downtown Portland Office Asset Trades Hands as Local Vacancies Dwindle

    One of Portland’s landmark office properties traded hands this week when a Unico Properties LLC-controlled investment fund paid a hefty $41 million for a downtown asset. The joint venture between Unico and Cigna Realty Investors purchased the Commonwealth Building from seller Commonwealth Acquisition LLC. Unico Properties previously acted as the property’s manager, a position that it will maintain after the transaction.

    02 December 2013 16:44
  • Daly Sets Sights on Seven-Month Modular Construction for ‘N’ Habit

    One of the hottest trends in building now is the use of prefabricated elements, banking on the effectiveness the medium offers. One of the first Seattle developers to jump on that bandwagon was Daly Partners. Normally, a mid-rise apartment community project rising in Seattle’s Belltown neighborhood would take around a year construction-wise, but contractor Charter Construction has set itself a seven-month deadline.

    26 August 2013 05:00
  • Yesler Terrace Redevelopment Finally Launches with Green Light for First Private Project

    One of the most ambitious neighborhood revitalization projects in the entire city of Seattle is finally seeing plans come through as the first private residential project in the community is set to break ground. Spectrum Development Solutions, one of the companies tasked with the repositioning of Seattle’s Yesler Terrace, has been given the green light for its Anthem multifamily project. Still dominated by its history as one of the public housing districts built during World War II, Yesler Terrace is set to become a greatly updated and augmented living community.

    29 July 2013 15:43