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—Holliday Fenoglio Fowler LP recently expanded its Pacific Northwest presence by officially opening an office in Seattle with an immediate focus on debt, equity placement and investment advisory services. The opening of the Seattle operation represents HFF's 25th office location. Senior managing director Thomas Wilson, who is a member of HFF's debt placement group and was formerly in HFF's Portland office, will handle the day-to-day operations of the Seattle office in conjunction with senior managing director Ira Virden, who is a member of HFF's investment advisory multi-housing group in its Portland office. The pair will jointly lead the firm's Pacific Northwest platform in Portland and Seattle. Executive managing directors Jody Thornton and Matthew Lawton will help oversee the Pacific Northwest expansion from their respective offices in Dallas and Chicago.
SAN FRANCISCO—JLL recently hired tenant rep broker Lei-Lani Keelan as an EVP. She will be based in the firm's San Francisco office and focus on advising growing technology companies. A highly regarded broker who began her career in real estate right out of college, Keelan has spent the last 13 years advising a wide range of tenants in Silicon Valley and throughout the Bay Area regarding real estate decision making. During her career she has been responsible for transactions totaling more than four million square feet. Her clientele include venture capital and private equity firms, start-ups, and well-known technology companies.
DEALTRACKER
KENNEWICK, WA—Arbordale Gardens Apartments, a 72-unit apartment property in Fremont, CA, has changed hands. The $27.75 million sales price equates to $385,417 per unit. Levin and Robert Johnston, senior managing director investments at Marcus & Millichap, represented the seller, and procured the buyer, both of whom are local investors. Built in 1968 on more than three acres, Arbordale Gardens Apartments has a gross livable area of approximately 46,336 square feet. Community amenities include a swimming pool and assigned covered carport parking with large private storage lockers.
Bothell, WA—KeyBank Real Estate Capital has originated a $23.7 million CMBS, first mortgage loan for a six-building flex office park known as North Creek Parkway Center, located in Bothell, WA. The property was built in 1986 and consists of four, one-story buildings and two, two-story buildings, totaling approximately 215,950 square feet. The office park is 72% office space, 17% lab space and 11% warehouse space. Alder Biopharmaceuticals, Inc. occupies 68,700 square feet and recently expanded its space by 13,152 square feet. John Loshbaugh of Key's Commercial Mortgage Group arranged the financing with a 10-year term, five-year interest only period and 30-year amortization schedule. Proceeds of the loan were used to facilitate the acquisition of the property.
BEAVERTON, OR—Trion Properties, a private equity real estate firm that specializes in value-add multifamily investments in four niche markets along the west coast, recently acquired Hallwood Apartments, a 76-unit apartment community in the Portland submarket of Beaverton, OR. The acquisition comes on the heels of the firm's acquisition of Bel Aire Court earlier this year, bringing its total holdings in the region to more than 358 units, according to Max Sharkansky, Managing Partner of Trion Properties.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, 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.
