VANCOUVER, WA-In an effort to continue expanding its commercial lending business, First Independent Bank recently created a new top management position. Former Bank of America executive Mark Brandon has been named a senior vice president and chief lending officer at the 22-branch bank.
PORTLAND-Neither the company directing the investment nor the lender returned phone calls seeking comment, but knowledgeable sources say the lender has taken control of the building and it will take a lot of money to convert the building for a non-telecom use.
PORTLAND-Local restaurateurs purchase three corporate-owned Elmer's in Medford, Grants Pass, and Roseburg, Oregon and agree to develop two more units in southern Oregon. Elmer's, which also bought back a franchise in Vancouver, Wash., saw it's stock price rise to a new 52-week high on the news.
PORTLAND-The latest condominium addition to the 130-acre master planned community received its occupancy permit from Washington County this month. The completed development will hold more than 1,000 single-family, condominium, duplex and apartment homes.
BEAVERTON, OR-Since adding the 685,000-sf Cornell Oaks development to its portfolio last year for approximately $88 million, the publicly-traded REIT decides to unload another of its flex-office holdings in the market, Woodside Corporate Center, which should fetch around $50 million.
SEATTLE-HAL Real Estate Investments renews its third-party management contract with Unico Properties for the care of One Renton Place, that city's most visible building and part of HAL's 671,000-sf south-end office portfolio, all of which is managed by Unico.
PORTLAND-bThe Portland based investment company focused on mortgages and other real estate related assets acquires a 51% stake in Los Angeles-based George Elkins Mortgage Banking Co. The news sends the price of Fog Cutter stock to a new 52-week high.
PORTLAND-General contractor Howard S. Wright Construction is just a couple of months away from shell completion on Weston Holding Co.'s three-story, 60,000-sf office building overlooking the Willamette River in the Johns Landing submarket. The project broke ground in May 2001.
MEDFORD, OR-The one-story tilt-up on Commerce Drive will serve as Regence BlueCross BlueShield's Southern Oregon Regional Headquarters. Regence is expanding from a 27,000-sf building it owns in Downtown Medford that is now being marketed for sale.
HILLSBORO, OR-Regency Centers opened the 68,000-sf first phase last August and anchored it with Albertson's. The second phase, to be ready for the 2002 holiday season, will include Marshalls, PETsMART and International House of Pancakes, among others.
