CenturyPacific has the capability to provide a variety of real estate related investment services. Its principals have handled acquisition, dispositions, joint ventures and capital investments throughout the United States. These transactions have involved office buildings, hotels, raw land, partnership interests and ground leases. Assignments range from the sale of a majority position in $100 million publicly held real estate company to joint ventures for large parcels with long-term build-out potential. CenturyPacific has also assisted in the development of strategic plans for the real estate operations of major corporate land owners.
Investment Services include:
Portfolio Review & Development
Investment Assignments:
Home Improvement Chain Disposition: CenturyPacific was retained as real estate advisor to Pay'N Pak Store, Inc.'s former 104 store home improvement chain. CenturyPacific's assignments included lease negotiation, strategic planning, acquisitions, dispositions and development coordination. The client's bankruptcy resulted in CenturyPacific managing the successful sale of nearly $80 million of fee-owned property in an 18 month period.
Downtown Department Store: CenturyPacific assisted the owners of the 750,000 square foot Frederick & Nelson Building in Seattle with the development of a disposition strategy for the property. This Seattle landmark was left vacant by the demise of the Frederick & Nelson Corporation. The assignment involved an analysis of ownership as well as a disposition strategy. CenturyPacific managed the marketing of the building which was sold to Nordstrom for almost $29,800,000.
Ground Leases: The I. Magnin Building is a 80,000 square foot building which occupies a prime retail corner in downtown Seattle. CenturyPacific structured a long-term ground lease, on behalf of the owner, with a major specialty retail developer. The ground lease provides secure income, inflation protection and a share in percentage rents. Other recent ground lease assignments include a 108,000 sf parcel on Seattle’s waterfront, two parcels in downtown Bellevue, WA and a 600 acre parcel in Casper, Wyoming.
Asset Management: CenturyPacific acts as real estate asset manager to several individual and corporate real estate portfolios. Recent acquisitions include the 450,000 sf Willows Commerce Park ($55,000,000), the 600,000 sf Seattle Union Station ($150,000,000), the 75,000 sf ADIC Building ($11,000,000), the 70,000 sf Catapult Building ($10,000,000) and a 200,000 sf industrial building in Auburn ($10,000,000). In each instance, CenturyPacific has located the property, negotiated the transaction and managed the due diligence and financing. The firm also provides asset management for many of these clients.
Ski Resorts: CenturyPacific structured and negotiated a joint venture which consolidated three Northwest ski resorts into a single unit. The assignment involved valuation, due diligence, financing and deal structure. Steven Wood serves as President of the Schweitzer Mountain Resort.
Investment Fund: CenturyPacific structured and negotiated a sponsorship role for a client in a major Northwest-based real estate investment and financing fund. This structure allows the client to participate across a broad range of transactions in this $600,000,000 fund. CenturyPacific also has extensive experience in structuring partnership and joint venture investments over a large spectrum of real estate opportunities.
Dispositions of Bank-Owned Properties: CenturyPacific was retained by Seafirst Bank (now Bank of America) to assess disposition alternatives for a 67,000 square foot building and 300 car parking lot and structure. The firm developed and implemented a disposition plan which resulted in a successful sale for $10,500,000. The assignment involved property analysis, tenant negotiations and sale negotiation. CenturyPacific has assisted Seafirst in the evaluation and disposition of numerous properties in Seattle, Lacey, Kent, Las Vegas and Tukwila. The firm has also provided a variety of "Receiver" services for the bank.
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