SAN FRANSISCO—HFF senior managing directors Charles Halladay and Scott Pertel have been appointed to co-head the firm's San Francisco office. Halladay will be relocating from the firm's Orange County office to San Francisco, where he will lead the office's debt placement platform, and Pertel will oversee the office's investment sales platform. Halladay has more than 12 years of experience in commercial real estate, having worked in HFF's Orange County office since 2005 as a member of their debt placement team. During his tenure with the firm, he has successfully transacted more than $10.1 billion in commercial real estate capitalizations.

WALNUT CREEK, CA—Sequoia Equities Inc. has promoted Carrie Caudill to a newly-created position of senior portfolio manager and director of strategic operations. In this role, Caudill aims to promote operational consistency and quality control in daily property management activities, decisions, and implementations. In addition to her global leadership, Caudill will maintain day-to-day responsibilities for more than 3,000 units located in Seattle and Los Angeles MSA's.

DEAL TRACKER

CONCORD, CA—NAI Northern California has sold a 20-unit multifamily property located at 4819 Clayton Rd. in Concord, CA. VP Ethan Berger, investment advisor Monjid Aldiyyat, and the NAI Northern California Multifamily Team represented both the seller and buyer in the $3.75 million dollar sale of the building marked as the 7th Multifamily closing in Concord in 2016. Woodstone Apartments is a 20-unit property built in 1963 comprised of all 2 -Bed and 1-Bath units. Located along Clayton Rd., a main street within Central Contra Costa County, the property is in close proximity to a multitude of commuting options, downtown Concord, a number of local amenities, and major Bay Area employment centers.

REDWOOD CITY, CA—Dostart Development Co. LLC and Cushman & Wakefield have signed a long-term lease with Goodwin Procter LLP to be the anchor tenant in more than 100,000 square feet at DDC's new Class A+ office development currently under construction at 601 Marshall St. in Redwood City. The pre-certified LEED Platinum project, which is scheduled for completion by the end of the year, is located in the vibrant heart of downtown Redwood City, steps from the Caltrain Baby Bullet, countless dining and entertainment amenities and ±2,000 new Class A residential units.

SAN ANDREAS, CA—Hunt Mortgage Group has provided a Fannie Mae loan facility in the amount of $5.3 million to enable the acquisition of a manufactured housing community located in San Andreas, CA. The final loan covered approximately 75% of acquisition costs. Oak Shadows Mobile Home Park is comprised of one, one-story community building and 105 pads. The property was developed in 1977, is situated on a 17.8 acre parcel and offers 230 parking spaces. It is age-restricted to 55 and older and is 100% occupied.

SAN FRANCISCO—Holliday Fenoglio Fowler LP has arranged $10.45 million in financing to coincide with the sale of a 49% interest in The Wakefield Building, a 56,676-square-foot, transit-oriented, creative office building in downtown Oakland, CA. HFF worked exclusively on behalf of the borrower, a newly-formed joint venture between the Swig Co. and Stars Investments, to secure the 10-year, non-recourse loan. The loan will have a fixed-rate for the first five years before converting to a floating-rate loan for the remaining five years.

This week in the North West region, Zillow's latest research on mortgage burdens at the city level illustrates that the Bay Area and other expensive West Coast markets get a lot of attention for being unaffordable, but they still have some areas where the share of income spent on housing is relatively low. Check out that along with all the other news you might have missed below.—Natalie Dolce

BY THE NUMBERS

SAN JOSE, CA—Even in metros where homebuyers have the biggest mortgage burdens, some cities within those metros provide relatively affordable housing options. According to Seattle-based Zillow, the San Jose metro has been one of the hottest housing markets in the country. Homebuyers in Palo Alto can expect to spend 75% of their income on a house payment. But just 15 miles away, buyers in Milpitas, CA need only spend 35%. This example of disparity in the Silicon Valley demonstrates how hot housing markets are fueled by cities where high demand for jobs and amenities drive housing values to far outpace incomes, says Zillow. The phenomenon is one reason there is more inequality in very expensive markets. Zillow's latest research on mortgage burdens at the city level illustrates how hot spots within popular housing markets have caused runaway housing costs that place significant burdens on the people who live and work there, even as the cities next door remain more affordable. However, choosing a more affordable city likely requires trade-offs, such as fewer amenities or longer commutes.

NEWS & NOTABLES

SAN FRANSISCO—HFF senior managing directors Charles Halladay and Scott Pertel have been appointed to co-head the firm's San Francisco office. Halladay will be relocating from the firm's Orange County office to San Francisco, where he will lead the office's debt placement platform, and Pertel will oversee the office's investment sales platform. Halladay has more than 12 years of experience in commercial real estate, having worked in HFF's Orange County office since 2005 as a member of their debt placement team. During his tenure with the firm, he has successfully transacted more than $10.1 billion in commercial real estate capitalizations.

WALNUT CREEK, CA—Sequoia Equities Inc. has promoted Carrie Caudill to a newly-created position of senior portfolio manager and director of strategic operations. In this role, Caudill aims to promote operational consistency and quality control in daily property management activities, decisions, and implementations. In addition to her global leadership, Caudill will maintain day-to-day responsibilities for more than 3,000 units located in Seattle and Los Angeles MSA's.

DEAL TRACKER

CONCORD, CA—NAI Northern California has sold a 20-unit multifamily property located at 4819 Clayton Rd. in Concord, CA. VP Ethan Berger, investment advisor Monjid Aldiyyat, and the NAI Northern California Multifamily Team represented both the seller and buyer in the $3.75 million dollar sale of the building marked as the 7th Multifamily closing in Concord in 2016. Woodstone Apartments is a 20-unit property built in 1963 comprised of all 2 -Bed and 1-Bath units. Located along Clayton Rd., a main street within Central Contra Costa County, the property is in close proximity to a multitude of commuting options, downtown Concord, a number of local amenities, and major Bay Area employment centers.

REDWOOD CITY, CA—Dostart Development Co. LLC and Cushman & Wakefield have signed a long-term lease with Goodwin Procter LLP to be the anchor tenant in more than 100,000 square feet at DDC's new Class A+ office development currently under construction at 601 Marshall St. in Redwood City. The pre-certified LEED Platinum project, which is scheduled for completion by the end of the year, is located in the vibrant heart of downtown Redwood City, steps from the Caltrain Baby Bullet, countless dining and entertainment amenities and ±2,000 new Class A residential units.

SAN ANDREAS, CA—Hunt Mortgage Group has provided a Fannie Mae loan facility in the amount of $5.3 million to enable the acquisition of a manufactured housing community located in San Andreas, CA. The final loan covered approximately 75% of acquisition costs. Oak Shadows Mobile Home Park is comprised of one, one-story community building and 105 pads. The property was developed in 1977, is situated on a 17.8 acre parcel and offers 230 parking spaces. It is age-restricted to 55 and older and is 100% occupied.

SAN FRANCISCO—Holliday Fenoglio Fowler LP has arranged $10.45 million in financing to coincide with the sale of a 49% interest in The Wakefield Building, a 56,676-square-foot, transit-oriented, creative office building in downtown Oakland, CA. HFF worked exclusively on behalf of the borrower, a newly-formed joint venture between the Swig Co. and Stars Investments, to secure the 10-year, non-recourse loan. The loan will have a fixed-rate for the first five years before converting to a floating-rate loan for the remaining five years.