PORTLAND—Locally based Pacific Continental Corp. recently revealed its quarterly report, showing net income for the first quarter 2017 was $6.6 million, or $0.29 per diluted share. Included in its net income were non-core costs associated with its pending merger with Columbia Bank of approximately $933 thousand, or approximately $0.03 per diluted share. The provision for loan losses expense in the first quarter 2017 was $900 thousand, compared to $1.9 million for the fourth quarter 2016. Annualized returns on average assets, average equity and average tangible equity for first quarter 2017 were 1.03%, 9.63%, and 12.93%, respectively, compared to 1.08%, 9.93%, and 13.35% for fourth quarter 2016.

DEAL TRACKER

ANCHORAGE, AK—Dar and Ed Walden, co-owners of the Anchorage-based Dar Walden Team at Keller Williams Realty-Alaska Group, have acquired Fairbanks-based independent brokerage Madden Real Estate. This merger and acquisition combines two mega real estate producing companies, catapulting the Waldens to the top-producing team in the state of Alaska as well as positioning them into the Top 50 producing teams in Real Trends and in the Wall Street Journal, according to a prepared statement. The combination of the two power houses will create a professional organization that will cover the real estate needs of the Interior and South Central Alaska real estate markets. Wes Madden, who will remain as a part of the leadership team and minority owner, said his business ran like a mega team, so although he spoke to other traditional brokerages about a merger, he thought the best fit was with the Walden Team of Keller Williams.

SAN FRANCISCO—NAI Northern California, the Bay Area presence for NAI Global, recently revealed the sale of a San Francisco multifamily property for $8.5 million dollars. Senior Investment Advisor, Joby Tapia of NAI, represented the buyer in the sale of the Valencia Street property. Family owned for over 30 years, Tapia, helmed the buyer through an extensive process in selling the 28-unit multifamily property. Initially, the seller was seeking representation to lease restaurant space on the ground floor. Tapia's extensive experience with property management and brokerage resulted in a substantial benefit to the buyer, according to a prepared statement.

BUILDING BLOCKS

SEATTLE—LMN Architects, a multidisciplinary design firm with a reputation for distinctive, community-focused projects has topped out the building podium for the new Hyatt Regency in downtown Seattle. Positioned at the nexus of Seattle's downtown commercial, convention, and high-rise residential neighborhoods, the 1.4-million-square-foot Hyatt Regency Seattle synthesizes a diverse mix of urban influences into a skyline-scaled, mixed-use building. The tower's monolithic composition will provide a bold, yet quiet, counterpoint to the highly articulated neighboring towers; its ethereal exterior conceived to dissolve and merge into the silvery sky as it rises above surrounding buildings, according to a prepared statement.

GEORGE, WA—The recently released proposed 2017-19 Washington State Senate and House Capital Budgets have included funding for the Port of Quincy's road infrastructure project and the City of George's water line infrastructure project at the Port's Industrial Park No. 5 at George, WA, according to a prepared statement. Industrial Park No. 5 is located north of Interstate 90 and west of State Route 281 in the Port of Quincy and City of George in Grant County. Various businesses have been very interested in expanding and/or locating at Industrial Park No. 5 (within the City of George's corporate limits) if the water and road infrastructure projects are completed, the release says. The businesses would create many new jobs and would invest millions of dollars in private sector funds into the local rural economy. Additionally, the new jobs would help to provide employment for the City of George's 85% low-to-moderate-income residents.

This week in the North West region, we take a closer look at a big merger in Alaska and some big infrastructure news in Washington. Check out all the news you might have missed below.—Natalie Dolce

BY THE NUMBERS

SEATTLE—Locally based Zillow Group recently revealed a new partnership with REcolorado, the largest multiple listing service in Colorado, serving more than 20,000 real estate agents from Denver and the Front Range. “Denver is one of the hottest markets in the country right now and we are incredibly happy to build this relationship with REcolorado during the spring home shopping season,” said Errol Samuelson, Zillow Group chief industry development officer. “Now, REcolorado subscribers can have their listings in front of the largest and most engaged audience of home shoppers in less than 10 minutes, simply by opting-in their listings as they enter them in the REcolorado Matrix MLS. The millions of home shoppers who visit our sites and apps will now have a comprehensive view of available inventory in one of the hottest markets in the U.S.”

NEWS & NOTABLES

PORTLAND—Locally based Pacific Continental Corp. recently revealed its quarterly report, showing net income for the first quarter 2017 was $6.6 million, or $0.29 per diluted share. Included in its net income were non-core costs associated with its pending merger with Columbia Bank of approximately $933 thousand, or approximately $0.03 per diluted share. The provision for loan losses expense in the first quarter 2017 was $900 thousand, compared to $1.9 million for the fourth quarter 2016. Annualized returns on average assets, average equity and average tangible equity for first quarter 2017 were 1.03%, 9.63%, and 12.93%, respectively, compared to 1.08%, 9.93%, and 13.35% for fourth quarter 2016.

DEAL TRACKER

ANCHORAGE, AK—Dar and Ed Walden, co-owners of the Anchorage-based Dar Walden Team at Keller Williams Realty-Alaska Group, have acquired Fairbanks-based independent brokerage Madden Real Estate. This merger and acquisition combines two mega real estate producing companies, catapulting the Waldens to the top-producing team in the state of Alaska as well as positioning them into the Top 50 producing teams in Real Trends and in the Wall Street Journal, according to a prepared statement. The combination of the two power houses will create a professional organization that will cover the real estate needs of the Interior and South Central Alaska real estate markets. Wes Madden, who will remain as a part of the leadership team and minority owner, said his business ran like a mega team, so although he spoke to other traditional brokerages about a merger, he thought the best fit was with the Walden Team of Keller Williams.

SAN FRANCISCO—NAI Northern California, the Bay Area presence for NAI Global, recently revealed the sale of a San Francisco multifamily property for $8.5 million dollars. Senior Investment Advisor, Joby Tapia of NAI, represented the buyer in the sale of the Valencia Street property. Family owned for over 30 years, Tapia, helmed the buyer through an extensive process in selling the 28-unit multifamily property. Initially, the seller was seeking representation to lease restaurant space on the ground floor. Tapia's extensive experience with property management and brokerage resulted in a substantial benefit to the buyer, according to a prepared statement.

BUILDING BLOCKS

SEATTLE—LMN Architects, a multidisciplinary design firm with a reputation for distinctive, community-focused projects has topped out the building podium for the new Hyatt Regency in downtown Seattle. Positioned at the nexus of Seattle's downtown commercial, convention, and high-rise residential neighborhoods, the 1.4-million-square-foot Hyatt Regency Seattle synthesizes a diverse mix of urban influences into a skyline-scaled, mixed-use building. The tower's monolithic composition will provide a bold, yet quiet, counterpoint to the highly articulated neighboring towers; its ethereal exterior conceived to dissolve and merge into the silvery sky as it rises above surrounding buildings, according to a prepared statement.

GEORGE, WA—The recently released proposed 2017-19 Washington State Senate and House Capital Budgets have included funding for the Port of Quincy's road infrastructure project and the City of George's water line infrastructure project at the Port's Industrial Park No. 5 at George, WA, according to a prepared statement. Industrial Park No. 5 is located north of Interstate 90 and west of State Route 281 in the Port of Quincy and City of George in Grant County. Various businesses have been very interested in expanding and/or locating at Industrial Park No. 5 (within the City of George's corporate limits) if the water and road infrastructure projects are completed, the release says. The businesses would create many new jobs and would invest millions of dollars in private sector funds into the local rural economy. Additionally, the new jobs would help to provide employment for the City of George's 85% low-to-moderate-income residents.