Seattle
Marriott to Puget Sound: Let Them Have Rooms!
Bastille Day saw the opening of a new hospitality venue for Bellevue’s core. The new facility is downtown’s first full-service Marriott, signaling that hospitality operators are taking notice to the increased growth in the Pacific Northwest.
LA Investor Bullish on Portland Office Market
An affiliate of L.A.’s Saban Capital Group has secured $42 million in refinancing for a Class A office building in Portland, Ore.
Heitman Finds Seattle Luxury Comes at a Premium
Premiere on Pine, one of the most high-end multifamily properties in the Seattle market, just traded hands. The luxury high-rise has been successfully sold by owner and developer Holland Partner Group to Heitman, a Chicago-based company.
Washington Investor Scoops Up Rip City Apartments
Two multifamily communities in Beaverton, Ore. have recently changed hands in a $63.9 million deal secured by Berkadia.
Sequoia Equities Takes Root in Downtown Seattle
Sequoia Equities recently completed the acquisition of a downtown Seattle community and is prepared to almost immediately put the property through renovation. The property in question is One Thousand 8th Avenue Apartments, a 65-year-old multifamily complex located at the base of First Hill.
San Mateo Company Looks to Float on Microsoft’s Cloud
Redmond, the small city in the Puget Sound area, is most often referred to in relation with its famous resident: Microsoft. The software behemoth is the financial backbone of Richmond and the main driver of both commercial and residential real estate. San Mateo, CA-based private investor G.W. Williams Co. recently entered the market with the purchase of a residential property in the proximity of Richmond’s major employment centers.
Bellevue Gives Multifamily Developers a Tax Boost
The City of Bellevue recently adopted an important piece of legislation which should prove vital to the area’s housing market. Bellevue follows suit to a number of Washington cities that have already used the measure to improve the situation of their housing markets. With neighboring Seattle in a constant search for the best scenario for its affordable housing situation, Bellevue is accessing a tax break that is available to a number of cities in the state.
Jobs Fuel Accelerated SLU Multifamily Project
A recently completed land deal indicates that multifamily developer Shea Properties is fast-tracking its first Seattle project. The company just acquired a one-acre site in South Lake Union for a reported $12 million. The transaction was completed with help from Kidder Matthews representatives, the company working on behalf of both Shea Properties, as well as seller Dexter Building LLC.
Historic YMCA Building Gets New Lease on Life
A 101-year-old YMCA building in downtown Astoria is about to hit a new milestone.
Non-Profit Health Plan Leases Large Chunk of Downtown Office Tower
1111 Third Avenue, one of Seattle’s tallest skyscrapers, just received a new tenant that will be taking over 16 percent of the space at the building. Community Health Plan of Washington has signed an agreement with the current owners which will see the not-for-profit organization move from its current location late next year.