HAL Real Estate is Gearing Up for Growth

HAL Real Estate has been quiet for a few years, but now the Seattle firm is starting to make some noise. The 23-year-old company recently was named as the equity partner on a five-story building at 744 N. 34th St. in Fremont that Tableau Software has leased. HAL executives told the Buzz this week they are actively looking to get involved in more real estate projects and deals across all sectors. The catalyst for this change is the return last fall of Paul Manheim as president.

HAL Real Estate is the Seattle-based subsidiary of an international holding company called HAL Holding N.V., which has roots that go back to 1873 when it operated as a shipping and travel company based in Holland. According to its website, in 1989 HAL sold off its main operating unit, Holland America Line, to focus on building an international holding company.

Source: http://www.djc.com/news/re/12085995.html

Dargey Buys Belltown Land

Everett developer Lobsang Dargey is planning his first project in Seattle.

An entity related to Dargey bought a .3-acre site on Fourth Avenue between Blanchard and Lenora streets from an entity related to HAL Real Estate Investments for $11.5 million, property records show.

Dargey is president of Path America, a development company that finances projects through the EB-5 program, which allows people to obtain permanent visas and a path to citizenship if they invest in a qualifying real estate project.

Dargey said he is planning a mixed-use project on the site but would not release any further details

Source: http://www.djc.com/news/re/12058428.html

Columbia City Site Sells for $7.18M

An entity related to Security Properties paid $7.18 million for 1.5 acres in Columbia City where it plans to develop a 193-unit apartment complex called The Angeline, which will also have a PCC market.

Security Properties bought the land from HAL Real Estate, which had previously planned to build the complex at 4801 Rainier Ave. S.

HAL has owned the land since 2007, when it bought the parcel from Susan Sandelman for $6.62 million.



Source: http://www.djc.com/news/re/12051166.html