Seattle
Dallas Developer Makes First Foray into Pacific Northwest with West Seattle M-F Project
Dallas-based real estate firm Trinsic Residential Group has broken ground on its first residential project in the Pacific Northwest. The company is working on a development located in West Seattle, thus making its debut in the market. With Seattle’s apartment market going well and a large number of units currently in the works to fulfill growing demand, new investors have set their sights on the city in order to cash in on the trend.
Bristol I at Southport Scores $27.6M Loan Arranged by Johnson Capital
Johnson Capital recently completed a financing deal for an apartment complex in Renton, Washington. The company has provided a loan worth $27.6 million for the Bristol I at Southport community, a residential property completed back in 2002. Amos Smith and Sea Skelton, currently with Johnson Capital’s Irvine, CA office worked on behalf of the property owner to arrange the financing for the asset.
Trammell Crow, Principal Break Ground on 462 KSF Office Tower in Seattle Area
Just outside of Seattle, the Bellevue, Wash., office market is about to expand by nearly a half-million square feet of coveted space, now that Trammell Crow and Principal Real Estate Investors have broken ground on 929 Office Tower.
Federal Way City Council Approves Performing Arts/Conference Center Project in Unanimous Vote
Federal Way is set to see a new development initiative as the City Council recently decided to authorize construction of a new performing arts and conference center in the city’s downtown. The measure passed through a unanimous vote this past week, most likely as a direct result of a study conducted by the Mayor’s Blue Ribbon Panel showed that the proposed facility would accelerate the development of the area. The estimated cost of the performing arts development project stands at around $32 million.
Essex Property Trust Expands Seattle-Area Portfolio with Purchase of Collins on Pine
By Alex Girda, Associate Editor In the latest real estate transaction involving a Seattle-area apartment property, Essex Property Trust acquired a high-end residential asset in the Pike/Pine neighborhood for $29.6 million. The upscale community Collins on Pine was in high demand, according to the Puget Sound Business Journal, but the seller, a limited liability company […]
Hines, Oaktree Acquire Triton Towers in Renton
One of Renton’s best known office assets recently traded hands as a partnership between Hines and a real estate fund managed by Oaktree Capital Management purchased Triton Towers. The buyer reportedly paid a fee of around $60 million for the property, making it one of the largest deals to be completed in the area.
Portland Residential Community Trades Hands for $50M
A California-based multifamily investment firm recently completed the acquisition of a Portland, OR asset, as HFO Investment Real Estate reports. According to the investment brokerage firm, the Monterey Springs Apartments in Clackamas County traded hands for a total fee of around $51.25 million. HFO was in charge of arranging the transaction on behalf of both the buyer, and the seller, a private equity group from the Midwest.
HFF, Berkadia Complete Financing Deals for Pacific Northwest Properties
Pacific Northwest property owners and real estate investors are completing financing deals for properties as the area continues to develop, in an attempt to boost their chances at securing promising properties, or improving assets in their existing portfolios. Berkadia Commercial Mortgage LLC and Holiday Fenoglio Fowler LLC both arranged financing deals for properties in Seattle and Portland respectively.
Schuster Group Sells Joseph Arnold Lofts in Belltown, While Lining Up More High-Rise Residential
A prominent Schuster Group-owned multifamily project in the Seattle neighborhood of Belltown recently traded hands. The Joseph Arnold Lofts traded hands for a fee of $68.2 million.
Sound Transit Awards Mercy Housing Northwest Contract to Build Rainier Valley Affordable Housing
Mercy Housing Northwest has been selected by the Sound Transit to develop a new affordable, transit-oriented project in Southeast Seattle. The company has been tasked with the construction of a multifamily complex near the Othello Link light rail station. Mercy received the contract for the development after a selection process handled by Sound Transit.