Bellevue Developer Acquires Former Selig Property
Norwestern LLC, a Bellevue development company, has purchased a building at 3031 Western Avenue for $5.3 million, with plans to build a 13-story, 120-unit luxury apartment building at the property next to Seattle’s Olympic Sculpture Park.
Cushman & Wakefield’s Tim McKay, Byron Rosen, Dan Chhan, Jacob Odegard, Matt Kemper and Dylan Roeter brokered the deal. Norwestern LLC is an entity affiliated with Bellevue-based Synergy Construction and Development, which has completed nearly a dozen projects around Seattle.
Synergy has selected Rex Modular to complete the estimated $40 million build. Rex Modular plans to build the apartment building using modular construction, reported the Puget Sound Business Journal. The site was formerly owned by Martin Selig Real Estate and sold through a receiver. Seattle-based Axis Architecture and Design and New York City-based Danny Forster & Architecture will design the project.
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RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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Pasadena Offices Sell for Residential Conversion
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Berkadia Negotiates Student Housing Property Sale in Kansas
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout