Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Seattle & Northwest  + Seattle  + Retail  |  January 26, 2024
Jasmine Kilman
By: Jasmine Kilman

Point Ruston Properties in Receivership Up for Sale

Following the ruling by a Pierce County judge, seven properties in the Point Ruston mixed-use development on the Tacoma waterfront are for sale.

The properties were placed into receivership last year after lender TerraCotta Real Estate Services sued to recover $73.8 million in debt owed on the properties, reported the Puget Sound Business Journal. Now, the seven properties have been split into two groups with differing disposition timelines in a recent ruling.

The court agreed to have one group of three properties, including two retail structures with multiple tenants and a Century Theatres building, to be marketed by Kidder Mathews brokers Erik Swanson and Mike King. The portfolio has an estimated value of $25.1 million, according to the outlet.

The second group of four properties will be put up for sale directly by the receiver. TerraCotta estimates the value of all seven properties in receivership is approximately $38 million.

Connect

Inside The Story

Kidder MathewsTerraCotta

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
Order Reprints