Nov 19, 2020

Executive changes at URG

Simo

Bliss

Urban Renaissance Group announced the retirement of chief investment officer John Bliss, who'll be succeeded in that role by Matthew Simo. The changeover will take place in January. Company CEO Patrick Callahan said in a statement, “John's leadership has been critical to URG's growth and current position in the marketplace. He has played a major role in URG's success.” During his 11 years with the firm, Bliss helped with deals including 2014 acquisition of Touchstone. He'll remain on the board of URG. Simo's been with the firm since 2006, when it was founded. He said, “I look forward to deepening our capital relationships and furthering URG's track record of making strategic investments that positively benefit the company and communities we invest in.”

Savills adds duo to Seattle office

Kelly

Lonergan

Savills announced a recent addition to its Seattle team. Eric Lonergan and Brian Kelly are joining the firm as executive managing directors; they made the jump from Washington Partners, after 20 years with that firm. Richard Schuham of Savills said in a statement, “Eric and Brian have sterling reputations and will not only bring exceptional client service skills but also a proven track record of building and maintaining a positive and productive culture.” They're bringing along associates Justin Johnson, Colton Teglovic and Trixie Tubb. The team is known for commercial tenant advisory services, with past clients including T-Mobile, Wells Fargo, Brooks Sports and Expedia. Said Lonergan, “Joining Savills enables us to provide our clients with a wider range of relevant consulting resources, access to innovative technologies and thought leadership and a global reach.”

Berkadia nabs six from CBRE

Berkadia recently announce the move from CBRE of six top performers: Jay Timpani, Mitchell Belcher, Steven Chattin, Chad Blenz, Robert Doxsee and Michael Manolides. The first four bring ample experience in investment sales, while the latter two specialize in mortgage banking. Berkadia's Keith Misner said in a statement, “Seattle and the Northwest remain among the most dynamic and robust multifamily markets in the country. This is how we'll continue to expand our footprint, particularly with clients looking for private capital opportunities, where Jay, Mitchell and Steven truly excel.”

TMR gets $26M refi for New Mexico units

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Local firm Thayer Manca Residential has secured a little over $26 million in refinancing for its Circ Apartments in Albuquerque, the firm announced. The 10-year Freddie Mac loan caries a fixed rate of 285%, with full-term, interest-only debt service. TMR acquired the 264-unit property two years ago for an undisclosed amount. Previously called Ventana Canyon, the Circ has undergone $4.1 million in renovations. Joe Manca said in a statement, “The New Mexico market continues to show great economic strength. We are excited to continuing providing inspired workforce housing for this dynamic community.” TMR also recently acquired the 200-unit Ottavo Apartments and the 280-unit Mirabella Heights.

Weingarten lands dental tenant in Uptown

Weingarten Realty Investors of Houston recently announced that it has secured new tenant Pacific Dental Services for its Queen Anne Marketplace in the Uptown neighborhood. Terms were not announced. The practice opened in its new 2,388-square-foot space this week, replacing a prior medical clinic. PDS is based in California, and led by Stephen Thorne; it now has about 800 offices in 23 states. The local lease was negotiated by Weingarten's Andy Armstrong and, on the tenant side, David Merisko of Mattis Partners. The popular Lower Queen Anne shopping complex is anchored by Bartell and Metropolitan Market.

Kudos for WMFHA

The Washington Multifamily Association said that was recently honored by the National Apartment Association for its efforts in member engagement. In its NAA nomination packet, the WMFHA cited efforts last year including “easy ways for members to use their voice for advocacy efforts, roadshows to bring information directly to associates on the front lines of our industry, a member orientation program, and a new Leadership Lyceum program aimed at building up future leaders of our industry.” Membership grew by nearly 19,000 units and 132 member organizations during 2019. Facebook likes were also up 26% year-over-year.

Bill Frame adds industry laurels

Frame

Puget Sound Business Journal has named Kidder Mathews' Bill Frame as one of its “Power 100.” This summer he transitioned from president and COO to chief executive officer. The industry veteran has been with KM for 28 years. The Power 100 spans all industries, and its honorees also include Satya Nadella, Bill Gates, Jeff Bezos, Erik Nordstrom and Howard Schultz.

PEMCO

Cole

Seattle-based PEMCO Mutual Insurance named Philip Cole as director of underwriting operations and analytics. Cole brings extensive industry experience in property and casualty insurance to his new role with PEMCO. He's previously held leadership positions with GE Insurance Solutions, Rockhill Insurance, State Auto and most recently at Guide One, where he served as senior vice president and chief underwriting officer.

Eagle Beverage

Danimer Scientific, a developer and manufacturer of biodegradable materials, and Eagle Beverage Products announced they will produce biodegradable drinking straws for the quick service restaurant industry. The straws will degrade in environments ranging from industrial composting facilities to home compost units and oceans without leaving behind microplastics. Eagle Beverage will manufacture the straws using Danimer Scientific's proprietary biopolymers. The straws are expected to be available for Eagle's customers to purchase in early 2021. Eagle Beverage Products has manufactured specialty beverage products in Kent since 1970.

Geoverse

Bellevue-based Geoverse hired Bob Gault as its new chief commercial officer. Gault will be responsible for the sales and marketing activities across Geoverse. He previously was chief revenue officer for Extreme Networks. Gault also worked at Cisco for 17 years and was responsible for worldwide go-to-market plans for service providers, system integrators, and managed services partners. Geoverse is a mobile operator that provides in-building cellular solutions to enable users and devices to roam across public carrier networks.

Standard Insurance

Standard Insurance (The Standard) announced that Lauren Canfield has been promoted to assistant vice president and actuary, Actuarial Transformation. Canfield joined The Standard in 2006 and has held actuarial positions in the commercial mortgage division and the corporate actuarial team, most recently, as second vice president of Corporate Actuarial and Risk Management. In business since 1906, The Standard is a provider of financial protection products and services for employers and individuals.