Robert E. Hibbs, Esq., Senior Advisor / Board Member
"You have to wait for the right piece of property because the quality of the property determines the ultimate outcome" -Robert Hibbs
Mr. Hibbs is active and well known in Seattle real estate circles providing legal representation for owners and for lenders, and currently as an owner/developer for his family office. He served on the Board of Directors for the State of Washington NAIOP from 2001-2004. He also served as its Treasurer for 3 of those years.
Mr. Hibbs is a native of Montana. He graduated from the University of Montana in 1974 with a B.S. and a major in accounting. Mr. Hibbs (in addition to being a member of the Washington and Montana State Bar Associations) is a Certified Public Accountant, and he obtained an L.L.M. in Taxation from Boston University Law School, in 1978.
Mr. Hibbs graduated Seattle University Law School in 1977 and began a successful career as an attorney in Seattle. Until the summer of 2000, he was a full time and very active senior partner in one of Seattle’s premier legal firms: Short Cressman & Burgess, P.L.L.C. His legal practice focused on the areas of real estate acquisition, development and financing, corporate, business law and taxation.
Mr. Hibbs has worked both sides of the table in real estate financing. Lenders which have benefited from his legal representation include: American General Life, Seattle Trust and Savings Bank, Bank of California and West One Bank Corp. Several of Seattle’s better-known real estate developers/owners have also had the benefit of Mr. Hibbs’ representation, though professional protocol suggests that we do not publicly disclose their names. He has worked for the last 20 years on some of the Pacific Northwest’s premier real estate projects.
With a wealth of experience and exposure to opportunities over the years in a successful practice of real estate law, Mr. Hibbs’ career evolved from being a full –time partner at Short Cressman & Burgess to “of Counsel” and now retired. Mr. Hibbs now devotes his time toward real estate projects for his family office.
Real estate projects in Mr. Hibbs portfolio include:
1. Monte Villa Farms a 300,000 square foot office high tech facility including Biotech, medical device manufacturing and a regional data center, Mr. Hibbs is the sole owner of the facility. Status: Still owned.
2. Torreon, a master-planned 1,700-acre, gated, golf course community in Arizona. He was an equity investor and played an active role in the planning and execution of the development scheme. The Project included 36 holes, 1,700 total lots or living units were sold and approximately $200 million in residential construction completed.
Status: Mr. Hibbs sold his interest in the Project in 2007.
3. Sterling, a 10,000+acre solar and power generation project in Western Arizona. Mr. Hibbs is an equity investor and plays an active role in the planning and execution of the development scheme. The status of the project is called Sterling Solar that it has full water rights and is fully entitled for the creation of an electrical generation facility of 1200 MW (would be the largest solar facility in Arizona) with several thousand acres of commercial/ industrial. Status: Under Development nearing final completion of the Interconnection for electrical transmission into Arizona, Nevada and California.
4. Silverdale Hotel, Silverdale Washington. A 152 room waterfront convention center and resort hotel. Mr. Hibbs acted as investor, developer and utilized his experience as a past controller of hotel facilities to assist in supervising the management of the facility. Status: Sold over 10 years ago.
5. Bothell Data Services, a regional scale data center. Status: Still 100% owned by Mr. Hibbs.
Web page bothelldataservices.com
6. North Bend Associates, River Run, a 130 unit, low rise apartment complex with full amenities.
Status: construction to begin Q1 2016.
What follows is a broader profiling of Mr. Hibbs’ legal career as it relates to real estate:
Represented the owner of a 400,000+ square foot Class A office building complex in Bellevue, Washington, the largest building complex in that city at the time it was constructed. In the past 23 years he has assisted the client in the acquisition, zoning, financing, construction leasing and refinancing and eventual sale of the property. He has also been active in defending the property against numerous limited improvement district assessments.
Represented the owners of a Class A office complex in Anchorage, Alaska, with approximately 360,000 square feet of office space.
Worked on the acquisition, development and financing of the Columbia Center (910,000 SF), the Airborne Building (300,000+ SF), the Key Bank Tower, and the Thousand Trails Building all in the Seattle area.
The purchase of 38 branch offices and connected operations from Security Pacific Bank and Security Pacific Savings Bank of Washington by West One Bank.
The acquisition and subsequent refinancing of 112,000 square foot, ten story biotech research and development facility occupied by Immunex Corporation, for a Hawaiian investment group.
The Sunset property, a 100-acre parcel for the development and construction of up to one million square feet of office space and 300 units of multi-family housing along the I-90 corridor in Bellevue, Washington.
Represented a Taiwanese investor in the development of a Lake Union waterfront facility into commercial and restaurant use related docking facilities. Also represented the same investor in the purchase of a boat repair facility at the north end of Lake Union.
Represented a manufacturing company in the sale of its steel mill and related properties believed to be the largest real estate parcel in the city of Seattle in a $40,000,000 transaction. Served as real estate, environmental counsel on the transaction(s), which included complex issues regarding hazardous waste liability, indemnification, reciprocal easements and subdivision, and title escrow issues.
Extensive negotiations for the development of a project in Bothell, Washington, which was to include approximately 880,000 square feet of retail space and 600,000 square feet of office space.
Negotiated settlement of claims involving cross-boundary contamination of a medical facility involving CERCLA and Model Toxics Control Acts issues.