SEATTLE—Zillow Group Inc. has expanded its “Boost” advertising program with the addition of Precision Targeting. Zillow Group's Boost program allows multifamily marketers to stand out with a unique feature amongst other rental listings on Zillow, Trulia and HotPads. By adding Precision Targeting to Boost, Zillow Group has expanded the program's reach to Facebook.

Boost with Precision Targeting combines the power of the most visited real estate and rental network with one of the most widely used social media platforms, allowing multifamily marketers to target their advertising through a simple, easy platform. This technology identifies prospective renters on Zillow, Trulia and HotPads and connects with them again on Facebook. Property managers can feature a special, new lease-up or an entire property and send the traffic directly to the property's website. Boost with Precision Targeting is available on mobile and desktop.

SEATTLE—Seattle area hedge fund manager Blake Robbins, formerly of Overlake Capital, has launched a new firm. Robbins's investment firm, Hillstone Capital, will have a primary focus on real estate and private equity. Besides his years dedicated to investor relations, Robbins brings over a decade of award-winning (2014 “Most Valuable Company” at Keiretsu Angel Expo) experience working and owning companies in financial services, mortgage banking, and real estate brokerages. While he says that leaving the company he co-founded was “one of the most difficult decisions” he's ever had to make, Robbins is also looking forward to pursuing his new venture with a “renewed vision and no limits.” He commented, “Hillstone is guided by common sense, discipline, and the insight that our success is driven by our culture and our partnerships.”

SAN FRANCISCO—Transwestern has promoted Jeffrey Moeller to senior managing director to lead the firm's San Francisco operations and execute the company's growth plans. Moeller, who has 20 years of experience in Northern California commercial real estate, previously served as senior vice president. Moeller will continue his top-producing brokerage role at Transwestern in addition to overseeing personnel and operations for the San Francisco office. Through the course of his 20-year career, he has successfully executed transactions in excess of $1.2 billion, totaling over 1.8 million square feet.

DEAL TRACKER

SEATTLE— Global real estate investment company Kennedy Wilson and its partner acquired Radius, a 282-unit multifamily community in the South Lake Union submarket of Seattle for $141 million. In a 50/50 joint-venture, the company and its partner invested a total of $72 million of equity, of which $58 million was funded from the December 2016 sale of The Grove, a 331-unit apartment community built in 1964 in San Jose, CA. The partnership also secured a 10-year fixed-rate loan of $70 million at a rate of 4.06%, interest-only for the first five years. “Radius is an exciting addition to our Seattle apartment portfolio” says Shem Streeter, Managing Director of Kennedy Wilson Multifamily Investments. “Seattle's South Lake Union neighborhood features some of the best rental demographics in the country, including a thriving job market and close proximity to many high growth companies. Our significant presence in the Seattle market allows us to leverage our existing operational expertise all while upgrading the overall quality of our portfolio through these two transactions.”

CHICO, CA—Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, in conjunction with Coldwell Banker DuFour Realty, completed the sale of a new construction single-tenant net-leased retail property occupied by ULTA Beauty at 2068 Dr. Martin Luther King Jr. Parkway in Chico, CA. The sales price could not be disclosed. Hanley Investment Group Executive Vice President Bill Asher, along with Mike Donnelly at Coldwell Banker DuFour Realty of Chico, Calif., represented the seller, Kitchell Development Co.'s office in Del Mar, CA. Cushman & Wakefield SVP Scott Borgia represented the buyer, Bay Area Properties from Santa Clara, CA.

This week in the North West region, the news is all about Seattle. Whether it is a quick check in on the city's office numbers, or Seattle area hedge fund manager Blake Robbins launching his own firm, check out all the news you might have missed below.—Natalie Dolce

BY THE NUMBERS

SEATTLE—A recent Seattle office report from Kidder Mathews said that Apple, Cisco, eBay, and Alibaba are examples of tenants looking for new or more office space in the Seattle and Bellevue markets. This follows expansions revealed in 2016 by Google, Facebook, Tableau, Salesforce, Valve, Wave Broadband, WeWork, and, of course, Amazon. The growth in the tech industry continues to place the region's office market near the top national markets. “This growth is currently bumping up against a shortage of large, tech-friendly, spaces. Even with all of the new space added in the past three years, and that under construction, the regional market has only 14 available spaces over 100,000 square feet in existing buildings and only six of those are over 200,000 square feet.” Only three of the 14 spaces are in projects built after 2000, the report says. Limited options are on the way with only seven buildings under construction that have remaining spaces over 100,000 square feet. “This situation has prompted some developers with sites previously slotted for apartment projects to consider a shift to office use, especially in the hot tech micromarkets like South Lake Union and SoDo.”

NEWS & NOTABLES

SEATTLE—Zillow Group Inc. has expanded its “Boost” advertising program with the addition of Precision Targeting. Zillow Group's Boost program allows multifamily marketers to stand out with a unique feature amongst other rental listings on Zillow, Trulia and HotPads. By adding Precision Targeting to Boost, Zillow Group has expanded the program's reach to Facebook.

Boost with Precision Targeting combines the power of the most visited real estate and rental network with one of the most widely used social media platforms, allowing multifamily marketers to target their advertising through a simple, easy platform. This technology identifies prospective renters on Zillow, Trulia and HotPads and connects with them again on Facebook. Property managers can feature a special, new lease-up or an entire property and send the traffic directly to the property's website. Boost with Precision Targeting is available on mobile and desktop.

SEATTLE—Seattle area hedge fund manager Blake Robbins, formerly of Overlake Capital, has launched a new firm. Robbins's investment firm, Hillstone Capital, will have a primary focus on real estate and private equity. Besides his years dedicated to investor relations, Robbins brings over a decade of award-winning (2014 “Most Valuable Company” at Keiretsu Angel Expo) experience working and owning companies in financial services, mortgage banking, and real estate brokerages. While he says that leaving the company he co-founded was “one of the most difficult decisions” he's ever had to make, Robbins is also looking forward to pursuing his new venture with a “renewed vision and no limits.” He commented, “Hillstone is guided by common sense, discipline, and the insight that our success is driven by our culture and our partnerships.”

SAN FRANCISCO—Transwestern has promoted Jeffrey Moeller to senior managing director to lead the firm's San Francisco operations and execute the company's growth plans. Moeller, who has 20 years of experience in Northern California commercial real estate, previously served as senior vice president. Moeller will continue his top-producing brokerage role at Transwestern in addition to overseeing personnel and operations for the San Francisco office. Through the course of his 20-year career, he has successfully executed transactions in excess of $1.2 billion, totaling over 1.8 million square feet.

DEAL TRACKER

SEATTLE— Global real estate investment company Kennedy Wilson and its partner acquired Radius, a 282-unit multifamily community in the South Lake Union submarket of Seattle for $141 million. In a 50/50 joint-venture, the company and its partner invested a total of $72 million of equity, of which $58 million was funded from the December 2016 sale of The Grove, a 331-unit apartment community built in 1964 in San Jose, CA. The partnership also secured a 10-year fixed-rate loan of $70 million at a rate of 4.06%, interest-only for the first five years. “Radius is an exciting addition to our Seattle apartment portfolio” says Shem Streeter, Managing Director of Kennedy Wilson Multifamily Investments. “Seattle's South Lake Union neighborhood features some of the best rental demographics in the country, including a thriving job market and close proximity to many high growth companies. Our significant presence in the Seattle market allows us to leverage our existing operational expertise all while upgrading the overall quality of our portfolio through these two transactions.”

CHICO, CA—Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, in conjunction with Coldwell Banker DuFour Realty, completed the sale of a new construction single-tenant net-leased retail property occupied by ULTA Beauty at 2068 Dr. Martin Luther King Jr. Parkway in Chico, CA. The sales price could not be disclosed. Hanley Investment Group Executive Vice President Bill Asher, along with Mike Donnelly at Coldwell Banker DuFour Realty of Chico, Calif., represented the seller, Kitchell Development Co.'s office in Del Mar, CA. Cushman & Wakefield SVP Scott Borgia represented the buyer, Bay Area Properties from Santa Clara, CA.