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Welcome to RHA's Movers and Shakers Online!

Below you will find information about RHA Associate Members' latest business transactions and deals. It is a great opportunity to find out what your association's members have been up to! Are you an Associate Member that has had a recent deal, hired someone new to your team or gained a new client? Is there something you'd like your fellow members to know about? Submit your press release to Alice Bartley and we will post it online and in UPDATE!

August 2010

McQuaid Commercial Real Estate Brokers has sold a warehouse in Kent, representing the seller who is an out-of-state bank that foreclosed on the property late last year. The property sold for $2,100,000.
Bob McGrouther from Luther Burbank Mortgage provided $1,000,000 for acquisition financing for 12 units in Seattle
Paragon Real Estate Advisors announces the sale of the 14-unit Pacific Place Apartments in the Magnolia neighborhood of Seattle. The sellers were represented by David W. Petersen of Paragon. The transaction sold at $1,425,000.
Steve Fischer of Westlake Associates represented the seller of a 6-unit community in Everett. The sale commanded a price of $600,000.
Collin Hagstrom and Curran Hagstrom of Westlake Associates represented both the buyer and the seller of the 8-unit Marcia Apartments in Seattle. The closing price was $1,045,000.
Bob McGrouther from Luther Burbank Mortgage provided $545,000 in financing for 8units in Seattle
Rich Walker of Marcus & Millichap represented the seller and Ryan Kidwell, also of Marcus & Millichap, represented the buyer of an 11-unit apartment community in Lynnwood. The selling price was $965,000.
Mary Leith, First Vice President of GVA Kidder Mathews, has been elected as a shareholder of the firm. Leith has specialized in multi-family and investment sales since joining GVA in 2000.
Dave Smith of Paragon Real Estate Advisors represented both the buyer and the seller of a West Seattle Mixed-Use Apartment Building. The building has 14 apartment units and an established restaurant on the ground floor. The closing price was $2M with a cap rate of 7.52.
Tyler Smith and Matthew Weber represented the buyer and Tyler Smith and Brian Thirtyacre represented the seller of Vista Rainier Apartments in Tacoma. All agents are with Westlake Associates. The closing price of the 50-unit building was $1,950,000.
Ian Brown of Westlake Associates represented the buyer of the Royal Arms Apartments in Burien. The 33-unit building closed at a sale price of $2,275,000.
Ian Brown of Westlake Associates represented the buyer of a 12-unit apartment building in Seattle. The closing price was $2,525,000.

July 2010

Natalia Beran of GVA Kidder Mathews represented the seller of Arbor Heights, a 22-unit apartment building in North Seattle. The closing price was $2,300,000 - McQuaid Commercial was the listing brokerage.
Ian Brown of Westlake Associates represented the buyer of the Selaine Apartments in Seattle. The 7-unit building closed at $1,000,000.
Walker & Dunlap arranged a $5,438,000 loan for Aros and Voss located in Ballard. The loan was structured with a 10-year term and 30-year amortization.
Bob McGrouther of Luther Burbank Mortgage Corp. provided $800,000 in financing for 22 units in Seattle.
Travis Kannier and Ian Brown of Westlake Associates represented the buyer of a 5-unit building in Wallingford for $725,000.
Michael McQuaid of McQuaid Commercial Real Estate Brokers represented the seller of Arbor Heights, a 22-unit apartment building in Seattle. The closing price was $2,300,000 with a CAP rate of 6.21 and GRM of 9.85.
Bob McGrouther of Luther Burbank Mortgage Corp. provided $750,000 in financing for 10 units in Bellevue.
Bob McGrouther of Luther Burbank Mortgage Corp. provided $714,000 in financing for 9 units in Seattle.
Bob McGrouther of Luther Burbank Mortgage Corp. provided $610,000 in financing for 8 units in Seattle.

June 2010

Jim Nichols joins GVA Kidder Matthews Bellevue brokerage division. He will specialize in multi-family and investment sales.
Marcus & Millichap announces the sale of Pine Villa Townhomes, a 53 unit apartment property in Tacoma. The buyer was represented by Brandon Grisham and Scott Morasch.
Matthew Bohner of Marcus & Millichap represented both the buyer and seller of the 9 unit Boulevard Park Apartment building in Seattle. The closing price was $540,000.
Larry Corkins of Marcus & Millichap represented the buyer of a 96 unit apartment property located in Port Orchard, WA. The sale closed at $4,800,000.
Bob McGrouther of Luther Burbank Mortgage Corp provided $2,903,750 in financing for a 40 unit apartment property in Seattle. The loan was refinance for a 30 year term and a beginning interest rate of 4.5%.
Dan Piantanida of GP Realty Finance provided 5,438,000 in financing for a 38 unit apartment complex in Seattle. The refinance was through a non-recourse 10-year fixed Fannie Mae loan with a 30 year amortization.
Tyler Smith of Westlake & Associates represented the buyer of the 8 unit apartment buiding, Imperial Arms, in Des Moines, WA. The closing price was $885,000.
Cathy Jeney of Paragon Real Estate Advisors represented the seller of the Imperial Arms Apartments in Des Moines.

May 2010

Bob McGrouther of Luther Burbank Mortgage Corp provided $1,485,000 in financing for 27 units in Seattle. The loan was a refinance with a 30 year term and beginning interest rate of 4.50%
Natalia Beran joins GVA Kidder Matthews Bellevue brokerage division. She will specialize in multi-family investment sales.
Paragon Real Estate Advisors announces that agent David Smith sold the Gables Apartments in Seattle's highly desirable West Seattle neighborhood. The property is a mixed-use building with 8 apartment units and 2 ground floor commercial spaces. The property closed with a capitilization rate of 5.81 percent with a final sale price of $1,478,500.
Paragon Real Estate Advisors annouces the recent sale of a classic brick mixed-use building in the heart of the Fremont Commercial district in Seattle. The building is located on the corner of N 35th Street and Fremont Place North. The closing capitilization rate was 7.13 percent and had a final price of $4,050,000 for 23 SRO units and 7 commercial spaces. The property was listed by long time Seattle multi-family broker Paul Mickley.
Bob McGrouther of Luther Burbank Mortgage Company provided $1,300,000 in financing for 103 units in Seattle. The loan was a refinance with a 30 year term and beginning interest rate of 4.50%.

April 2010

Bob McGrouther of Luther Burbank Mortgage Corp. provided $590,000 in financing for a 14 unit apartment property in Seattle. The loan was a refinance with a 30 year term and a beginning rate of 5.075. The loan provided funds for rehab purposes.
Todd Hull of Banner Bank provided $300,000 in financing for a 5-unit building in Ballard. The loan was a cash out refinance with a 30 year amortization and a fixed rate for 10 years.
Natalia Beran of McQuaid Commercial closed the sale of a lender owned property on North Capitol Hill for $1.3 million.
A group of Bellevue businessmen are bucking a trend of retail closures and are committed to bringing the best in flooring design, quality and price to the greater East Side. Discount Tile Outlet carries porcelain tiles from Italy and Spain, pebble and glass tiles from Indonesia and Asia, as well as marble, stone and granite - all at a discount of 30-40% off normal retail price. Visit their new retail tile store at 1405 132nd Ave NE, Suite 3 in Bellevue.
Rich Walker of Marcus & Millichap Real Estate Investment Services represented the seller of Murdock Village, a 26 unit apartment building in Sedro Wooley, WA. The closing price was $3,000,000.
Todd Hull of Banner Bank provided $375,000 in financing for a 7 unit building in Queen Anne. The loan was a cash out refinance with a 30 year amortization and a fixed rate for 10 years.
Scott Morasch and Brandon R. Grisham of Marcus & Millichap Real Estate Investment Services represented the seller of a 16 unit apartment building in Puyallup. The Royal Arms sold for $775,000.

March 2010

Bob McGrouther of Luther Burbank Mortgage Corp. provided $995,000 in financing for a 20 unit in Seattle. The loan was a refinance with a 30 year term and a beginning rate of 5.20%
Bob McGrouther of Luther Burbank Mortgage Corp. provided $794,500 in financing for an 11 unit in Seattle. The loan was a purchase with a 30 year term and a beginning rate of 4.95%.
Walker & Dunlap announced that Bill Granger has joined the company as chief technology officer in the company's Bethesda, MD headquarters. Mr. Granger will be responsible for Walker & Dunlap's information technology infrastructure at a time of significant growth for the company.
Bob McGrouther of Luther Burbank Mortgage Corp. provided $1,970,000 in financing for 29 units in Seattle.
Steve Fischer represented the buyer and Tyler D. Smith and Brian R. Thirtyacre represented the seller of a 6-unit building in Burien. All agents are with Westlake Associates. The closing price was $525,000.
Bob McGrouther of Luther Burbank Mortgage Corp. provided $2,060,000 in financing for a 32 unit in Seattle. The loan was a purchase with a 30 year term and a beginning rate of 4.95%.

February 2010

Glenn Gioseffi of Marcus Millichap Capital Corp provided $1,285,000 in financing for a 32 unit in Puyallup, WA. The was for a refinance with a 10-year fixed rate and 30 year amortizations.
Tyler D. Smith of Westlake Associates represented the seller in the sale of a 9-unit apartment complex in Lakewood. The complex sold for $730,000.
Glenn Gioseffi of Marcus Millichap Capital Corp provided $340,000 in financing for a 6 unit in Seattle WA,
Marc Cunningham and Robert Francis from the Marcus & Millichap's Seattle office represented the buyer of the Dolphin Apartments and the Creekside Apartments, totaling 127-units, in Richland. They sold for $6,330,000.
Glenn Gioseffi of Marcus Millichap Capital Corp provided $4,649,000 in financing for a 127 unit in Richland, WA. The was for a purchase with a 10-year fixed rate and 30 year amortization.
Irons Brothers Contruction is one of the first general contractors in King County to receive their EPA Lead Renovator training and certification. Contractors must now comply with the new 2010 EPA Lead Rules when working on homes, schools, apartments, etc. that were built before 1978.
Glenn Gioseffi of Marcus Millichap Capital Corp provided $1,200,000 in financing for a 21 unit in Seattle WA. The loan was for a refinance with a 5 year fixed rate and 30 year amortization.
Blake Rodgers, Dan Swanson of Marcus & Millichap's Seattle office represented the seller of Midvale North, a 20-unit apartment complex in Seattle. It sold for $1,793,000.
Glenn Gioseffi of Marcus Millichap Capital Corp provided $1,800,000 in financing for a 19 unit in Seattle, WA.
Glenn Gioseffi of Marcus Millichap Capital Corp provided $435,000 in financing for a 9 unit it Seattle, WA.
Collin Hagstrom represented the buyer and Curran Hagstrom represented the seller of a 6 unit building in Seattle. The sale prices was $765,000. Both Collin and Curran are with Westlake Associates.

January 2010

Steve Fischer of Westlake Associates represented the buyer of the 21-unit Hennessy Apartments in Tacoma. Tyler Smith also of Westlake Associates represented the seller. The closing price was $1,225,000.
GVA Kidder Mathews has added a team of 4 commercial real estate brokers and 2 associates to its Olympia office to form the firm's new forestland specialty group. The team specializes in timberland sales and consulting for both development purposes and timberland investments in Washington, Oregon and California. Consulting services inclue forest management plans, timber cruising, investment acquisition, property management, feasibility/planning, advocacy with governing jurisdictions and entitlement.

December 2009

Dan Swanson, an investment specialist with Marcus & Millichap, represented the seller of the 28-unit Alki Place Apartments in Seattle. The property sold for $3,600,000.
Noah Klika of McQuaid Commercial Real Estate Brokers represented the seller of a 14-unit apartment building in Capital Hill. The property closed at $1,600,000.
Master Builders Association of King and Snohomish Counties (MBA) recently named Joseph Irons, President of Irons Brothers Construction in Shoreline, the 2009 Remodeler of the Year, in recognition of his industry involvement, leadership and professional remodeling accomplishments. The award was given at the MBA's Centennial Gala celebration on December 10, 2009. Congratulations to Joseph Irons!
Marc Cunningham and Robert Francis of Marcus and Millichap represented both the seller and the buyer of a 19 unit apartment building in Seattle. The sale price was $2,900,000.
Marc Gimbel, owner of City Hardware, was awarded the South Lake Union Small Business Owner of the Year. This award goes to an organization that provides products or services that promote sustainability of our greatest resources - people and planet - while promoting the sustainability of the South Lake Union Neighborhood. Congrats to Marc!
Marc Cunningham and Robert Francis of Marcus and Millichap represented both the seller and the buyer of a 11 unit apartment building in Seattle. The building closed at $2,475,000.
Ryan Kidwell of Marcus and Millichap represented the seller of a 12 unit apartment building in the Eastlake neighborhood in Seattle. Ryan Kidwell and Timothy McKay (also of Marcus and Millichap) represented the buyer. The transaction commanded a sales price of $1,600,000.

November 2009

Mike Marinella of Westlake Associates represented the seller of a five unit property in Seattle. The closing price was $1,185,000
Jake Arnesen, project manager with Irons Brother Construction, Inc. and Melissa Irons, office manager recently became part of the select group of professional builders, remodelers and other industry professionals nationwide who have earned professional designations from the National Association of Home Builders (NAHB) University of Education. Both Jake and Melissa were award the CGP designation this summer. The CGP designation means Jake and Melissa have a solid background in green building materials, methods and tools to meet their client's needs.
Alki Place, a 28-unit apartment complex located in Seattle, Washington's West Seattle neighborhood was purchased by a locally based private investor for $3.6 million, or $128,571 per unit. Mark Zoffel and Kyle Hunt of CB Richard Ellis' Multi-Housing Private Client Group represented Alki Place LLC in the transaction. The sales price resulted in a 4.9% CAP rate on current income.

October 2009

David Peterson and Paul Mickley, both of Paragon REA, represented the seller of a 20-unit property located in Seattle. The transaction closed at $2,450,000.
Yvonne Naum, Certified Financial Planner, has participated as a volunteer in the Junior Achievement High School Financial Planning Program sponsored by NEFE (National Endowment for Financial Education). During the first two weeks of October, she met with students (freshman to senior) and their business instructor at Franklin High School in Seattle.
John Downing and Ryan Downing with The Foundation Group, represented the buyer of an office building located in Seattle. The property closed on October 14th for $1,730,000.
Saint Newton of Paragon REA represented the seller and John Stoner, also of Paragon REA, represented the buyer, in the transaction of a 32-unit property located in Shoreline. The sale closed at $4,250,000.
Ian Brown of Westlake Associates represented the buyer of a 6-unit apartment building in the University District of Seattle. The closing price was $761,450.
RB Investments has changed its name to Investment Real Estate Exchange Advisors. IREXA, a branch office of OMNI Brokerage, specializes in Alternative Real Estate Investments and Tax Efficient Real Estate Investment Strategies. Omni Brokerage member FINRA/SiPC. Visit our website at www.irexa.net

September 2009

David Peterson and Paul Mickley of Paragon Real Estate Advisors, Inc. represented the seller of the 20 unit Lake View Apartments in Seattle for a closing price of $2,450,000.
Paragon Real Estate Advisors, Inc. announces the sale of a 3-unit apartment building located at 520 N 47th St in Seattle. The building sold for 94% of the list price for a closing price of $650,000. Brian Platt and Cathy Jeney represented the seller
Michael F. Marinella of Westlake Associates represented the buyer in the transaction of a 24-unit apartment building in Shoreline for a closing price of $3,275,000.
John Downing, Ryan Downing and Bruce Kahn of The Foundation Group, represented the seller of a 15-unit apartment building located in Seattle. Bob Nakao, of The Foundation Group, represented the buyer in this transaction. The property sold for $2,025,000.
Michelle Broderson represented the buyer on a building in Shoreline which was listed at $649,950 and successfully closed at $460,000. The buyer plans to remodel over the next year
Casey Zejdlik and Jason Kono, both with The Foundation Group, represented the buyer of a 20-unit apartment building located in Seattle. The property sold for $2,450,000.
Travis Andrews and Jeff Garrison, both with EHI Real Estate Advisors, represented the buyer, and Pat Suarez of EHI Real Estate Advisors represented the seller in the sale of a 16-unit building in Lacey. The purchase price was $1,275,000.
Michelle Broderson represented the buyer on a building in Greenlake for $775,000. This 2 unit duplex was refurbished on the main floor and in mint condition; the new owner will refurbish the top floor unit.
Ruff Construction is pleased to announce it has moved its office. The new address for business is 6505 233rd Pl SE, Woodinville, WA 98072
Michelle Broderson represented the buyer on a single family property with a separate mother-in-law apartment in the basement for $505,000 in Meadowbrook.
Paragon Real Estate Advisors, Inc. announces the recent sale of the 10-unit Shamrock apartment building located in SW Seattle. The Shamrock was originally built by the seller in 1958. The building sold at 97% of the list price for a final price of $1,355,000. David Peterson and Jeff Stoner represented the seller.
Michelle Broderson represented the buyer in the purchase of her first investment property in South Seattle for a purchase price of $190,000.

August 2009

GVA Kidder Matthews was named a Gold Medal Winner in the Washington's Best Workplaces award by Puget Sound Business Journal at an event that drew 1,000 people at Safeco Field on August 20th. This is the third year in a row the frim received a medal. The program was launched to identiry and recognize best practices in hiring and retention of good people. GVA Kidder Matthews is the largest full-service commercial real estate firm in the Puget Sound, who is widely known in the industry for their attractive environment, culture and generous reward structure. Congrats GVA Kidder Matthews!
David Peterson and Jeff Stoner, both of Paragon Real Estate Advisors, Inc., represented the seller of the 10-unit Shamrock Apartments located in SW Seattle. The closing price was $1,355,000--97% of the list price!
Collin S. Hagstrom and Curran C. Hagstrom of Westlake Associates represented both parties in a transaction of a 6-unit apartment building in Ballard. The sale price was $690,000.
McQuaid Commerical Real Estate Brokers closed on a 36-unit apartment in W. Seattle for a closing price of $4.5 million. The price per unit was $125,000 and a CAP of 4.92. McQuaid Commercial Real Estate is located at 400 Roy St. in lower Queen Anne.
An RHA Member recently used SRC Windows for their window replacement. This is what they had to say: "Dear Ken and everyone at SRC: You did a great job on the window installation on Friday. Your staff worked very efficiently. The job was finished just before 3 pm and all the debris and remnants of old windows and sawdust had been removed. They even gave me the information about the PSE rebate and federal tax credit. I couldn't be happier with the job SRC did from the beginning bid to the final completion." Way to go SRC Windows!

July 2009

Collin S. Hagstrom & Curran C. Hagstrom, both of Westlake Associates Inc., represented the seller, and Brian Thirtyacre, also with Westlake Associates Inc., represented the buyer in the transaction of a 9-unit property located in Seattle. The closing prices was listed as $1,275,430.
Glenn Gioseffi of Marcus and Millichap Capital Corp funded a 13 unit on Capital Hill for $1,220,000.
Irons Brothers Construction are proud to announce that they have been recognized by their peers as an award winning company for their 2008 commericial tenant improvement remodel of Mom's Pharmacy in Capitol Hill!
Glenn Gioseffi of Marcus and Millichap Capital Corp funded a 24 unit on Capital Hill for $1,650,000.
Steve Fischer of Westlake Associates Inc. represented both parties in the transaction of a fourplex located in Renton. The property sold for $475,200.
Glenn Gioseffi of Marcus and Millichap Capital Corp funded a 33 unit on Capital Hill for $2,500,000.
Jeff Stoner of Paragon REA represented the buyer and John Stoner, also of Paragon REA, represented the sellers in the transaction of the 53-unit Ascona Apartments. The property, located in Seattle, sold for an undisclosed amount.
Glenn Gioseffi of Marcus and Millichap Capital Corp funded a 25 unit on Capital Hill for $2,165,000.
Matthew Webber of Westlake Associates, Inc. represented the buyer of a 9-unit apartment located in Seattle. The sale was worth $1,395,000.
Eric Smith and Jon Breiner, both of Paragon REA, represented the buyer of a 14-unit property located in Seattle's Capitol Hill neighborhood. The sale closed at $1,465,000
GVA Kidder Mathews has announced that its Chairman and CEO, Jeffrey Lyon, received the Ernst & Young Entrepreneur of the Year-2009 Award in the Financial Services & Real Estate category in the Pacific Northwest. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Lyon was originally selected as a finalist from nearly 65 nominations. Congrats!
Glenn Gioseffi of Marcus and Millichap Capital Corp funded a 32 unit on Capital Hill for $2,400,000.
A Wise Locksmith opened a new shop in Kenmore. The company still performs service calls, but now has a shop where customers can bring in keys and locks. 7018 NE Bothell Way, Kenmore, WA 98028--425-877-1729
Westlake Associates, Inc. is proud to welcome Brian Thirtyacre as an Associate. Brian joins the experience Westlake team specializing in representing buyers and sellers of multi-family properties. Brian is a graduate of Washington State University where obtained a degree in Finance with an emphasis on Real Estate.
Jeff Stoner and John Stoner of Paragon Real Estate Advisors, Inc. represented the seller of a 6 unit apartment building in the Ballard neighborhood of Seattle, A low 6 percent CAP range was secured and the building sold at 95% of the list price for a final price of $660,000.
Collin S. Hagstrom and Curran C Hagstrom, both of Westlake Associates, Inc., represented the buyer in the transaction of a 6-unit condiminium building located in Seattle. The purchase price was listed as $1,050,000.