Below is GlobeSt.com's bi-weekly update on the middle markets throughout the North West region. Here's a look at the latest news, announcements and deals that you may have missed from areas including: Alaska, Washington, Oregon, Idaho, and Northern California.
NEWS & NOTABLES
SEATTLE—Hughes Marino, the award-winning commercial real estate company that exclusively represents corporate tenants in their leasing and purchasing of office space, recently opened its newest office in Seattle on July 5 staffed by top CBRE brokers, Owen Rice, Executive Vice President, and Gavin Curtis, Vice President, who will hit the ground running by taking advantage of combined decades of local experience.
SEATTLE—LMN Architects recently revealed the firm's engagement to design the new Ocean Pavilion for the Seattle Aquarium. The approximately 50,000-square-foot Pavilion will be sited adjacent to the existing Seattle Aquarium, currently located at Piers 59 and 60.
SAN FRANCISCO—RealtyShares, a leading online marketplace for real estate investing, recently revealed that Kristina Wallender has joined the pioneering startup as senior vice president of marketing, focused on helping the company reach more investors and sponsors.
SAN FRANCISCO—CBRE Group, Inc. recently added Trent Holsman and Scott Greenwood as Senior Vice Presidents in Advisory and Transaction Services in Oakland. Holsman and Greenwood are widely-recognized as two of the top commercial real estate professionals in the East Bay, representing some of the most prominent Class A office buildings in the market, and more specifically, in the burgeoning Oakland CBD (Central Business District).
DEALTRACKER
SEATTLE—Digital Realty recently closed a $135-million 10-year mortgage on the Westin Building Exchange, the premier internet exchange for the Pacific Northwest in Seattle, WA, which is owned in a 50/50 joint venture partnership with Clise Properties. The new $135 million mortgage financing bears interest at a fixed rate of 3.29% per annum and matures in June 2027, replacing the existing $101 million secured loan bearing interest at 6.37% and maturing in September 2017.
PORTLAND, OR—Holliday Fenoglio Fowler LP has closed the $24.5-million sale of Sunset Corporate Park, a three-building, class A suburban office park located in Hillsboro, OR. HFF marketed the property on behalf of the seller and procured the buyer, Swift Real Estate Partners. Sunset Corporate Park is located adjacent to Intel's $3 billion Ronler Acres Campus at 22823, 22845 and 22867 NW Bennett Street in Portland's Silicon Forest area. The property is two miles from Orenco Station (Hillsboro's urban town center) and has freeway visibility along Highway 26.
BEAVERTON, OR—Trion Properties, a private equity real estate firm that specializes in value-add multifamily investments along the west coast, has recently acquired Bel Aire Court, a 67-unit apartment community in the Portland submarket of Beaverton, OR, bringing its multifamily portfolio in the area to a total of 282 units. This is Trion's fifth multifamily acquisition in the greater Portland region in just over two years, making the firm one of the most active buyers in this market, according to Max Sharkansky, Managing Partner of Trion Properties.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
