Hering Speaks About Portland Commercial Real Estate Finance on KXL Business Briefing

With construction restarting on Portland's Park Avenue West tower last week, the spotlight is once again on Portland's commercial real estate market, particularly downtown. Our Blake Hering was able to weigh in on commercial real estate finance in an interview on KXL's Business Briefing yesterday with host Brian Bushlach. Click here to listen to the podcast.

Oct. 16 Panel Discussion Will Focus on Investing in the Puget Sound Real Estate Market

Join Seattle Business magazine and NBS Financial Services on Oct. 16 for a conversation on commercial real estate investment and economic forecasting in the Puget Sound.

The event will be from 4:30 to 5:30 p.m. at the Renaissance Hotel Seattle, 515 Madison Street.

NBS Financial Principal, Director of Seattle Production Mike Wood will moderate a discussion featuring the following panelists:

-Bill Pollard: Co-founder & Principal, Talon Private Capital

-Colin Elder: Sr. Vice President Manager, Mortgage Loans, Symetra

-Eric Bridges: Investment Officer, State Farm Insurance Companies

-Jay Thomas: Senior Vice President, Multifamily Finance, Walker & Dunlop

Mathew Gardner: Principal, Gardner Johnson LLC, will also give a real estate forecast presentation.

Tickets are $40 and limited to the first 75 attendees. Click here to purchase tickets and get more information.

Johnson Joins Seattle Office as Financial Analyst

Austin Johnson has joined NBS Financial Services in Seattle as a Financial Analyst. As a member of the loan origination team, he helps satisfy the capital needs of our clients through exclusive relationships with life insurance companies, conduits and various other lenders.

Johnson was most recently an Investment Analyst Intern at Trammell Crow Company in Seattle, where he completed financial analysis. He has also served as a Research Analyst at Colliers International in Bellevue, where he analyzed complex data to write quarterly reports, analyzed transaction data and market activity and provided pro forma financial analysis for brokers.

Johnson holds a bachelor’s degree in business administration with a concentration in finance from Gonzaga University.

Goodwin Joins NBS Financial's Seattle Office as Financial Analyst

Zack Goodwin has joined NBS Financial Services as a Financial Analyst. He works closely with other members of the loan origination team to secure capital to satisfy clients’ needs through exclusive relationships with life companies, conduits, REITs and pension funds.

Prior to joining NBS Financial, Goodwin was an Associate Financial Representative with Northwestern Mutual Wealth Management Company, where he focused on marketing, new business development and relationship management. Goodwin also has experience in commercial real estate brokerage. As a Commercial Real Estate Associate with Coldwell Banker Tomlinson in Spokane, he specialized in multifamily, office, medical and land. He also conducted research for a local investment group that specialized in multifamily acquisitions across the nation.

Goodwin holds a bachelor’s degree in business administration with concentrations in finance and marketing from Gonzaga University. He is a licensed real estate broker in Washington.

Illias Joins NBS Financial's Portland Office as Financial Analyst

Matt Illias has joined NBS Financial Services as a Financial Analyst. He works closely with other members of the loan origination team to secure capital to satisfy clients’ needs through exclusive relationships with life companies, conduits, REITs and pension funds.

Illias previously worked as a Universal Associate at Umpqua Bank in Portland. A native of Portland, he holds a BS in accounting from the University of Oregon.

NBS Financial Arranges $6.8M in CMBS Financing for Kimball Creek Village

NBS Financial Services' Mike Wood, Principal, Director of Seattle Production, and Andrew Patterson, Senior Associate Finance Officer, have arranged a $6.8 million loan for Kimball Creek Village, a 30,133 sf retail property in Snoqualmie, Washington, about 25 miles east of Seattle.

This is the first transaction with a commercial mortgage-backed securities (CMBS) lender that Wood and Patterson have completed since 2007.

"The CMBS market was hot in 2006 and 2007 but cooled off for much of the recession," Wood said. "Now that market is coming back. CMBS pricing is more competitive and these lenders will take on more risk to win business."

The transaction presented a number of challenges, including the fact that it required a 75 percent loan-to-value and a high loan per square foot. Kimball Creek Village is also located in a secondary submarket and is not grocery anchored, which limited interest from NBS’ traditional life insurance company lender base. While the center was 91 percent occupied when the transaction began, one tenant vacated during the process.

Wood and Patterson were able overcome these hurdles and close the loan on a tight timeline, allowing the borrower to avoid paying extra fees to extend the construction loan, after several previous extensions.