December 21, 2001 Seattle tower has 26 percent vacancy rateSeattle Post IntelligencerSEATTLE – Samis Land Co. spent $27 million renovating Smith Tower to lure high-tech companies. Now, two years later, the 87-year-old building is more than a quarter vacant, largely ...
December 14, 2001 SEATTLE – Aegon USA Realty Advisors has provided roughly $12.4 million in fixed-rate, permanent financing for a 123,000-square-foot industrial facility.The 20-year mortgage replaces construction financing of about the same amount.The Samis Foundation owns the building at 651 ...
November 9, 2001 SEATTLE – GMAC Commercial Mortgage has provided $90 million of floating-rate financing for the Union Bank of California Center in Seattle, which its owner had originally tried to sell.The GMAC loan has a three-year term, which gives ...
The Toronto company has taken aggressive write-downs to facilitate the sale of three properties that were slated to become carrier hotels. It is also starting to set the stage to sell three recently developed retail/entertainment centers.
The apartment sector in the Seattle area, which has long performed strongly, is starting to show signs of weakness. Soft demand could affect rents, and rising expenses can even cause values to decline.
October 25, 2001 SEATTLE – AvalonBay Communities (NYSE:AVB) has decided to defer construction on a $48.9 million, 16-story high-rise apartment community in the city's Capitol/First Hill neighborhood until the economic conditions in Seattle and the nation improves.Construction on the 154-unit ...
The developer is offering a portfolio of 2 million sf of office buildings and 16 development sites. An initial round of bids is due this week. The portfolio is being marketed through Peracon Inc. and Colliers International.
October 2, 2001LOS ANGELES – WestCoast Hospitality Corp. (NYSE:WEH) has secured $62.9 million in permanent, fixed-rate financing for a portfolio of four hotels in Montana and Washington.Sonnenblick-Eichner arranged the 10-year financing, which bears about an 8 percent interest rate and ...
October 1, 2001 SEATTLE – Prudential Huntoon Paige has originated a $17.2 million fixed-rate mortgage on behalf of FHA for the Seattle Housing Authority. The Authority recently acquired Wedgewood Estates Apartments, a 203-unit complex at NE 75th Street and 36th ...
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