Feb 16, 2024

StanCorp Financial Group

Turner

StanCorp Financial Group, and its primary operating subsidiary, Standard Insurance Company, have appointed Barbara A. Turner to the board of directors. Turner is the chief executive officer and founder of BT RISE, an organization committed to the economic empowerment and education of women and underserved communities. Prior to that, she was president and CEO of Ohio National Financial Services. Portland-based StanCorp Financial Group, through its subsidiaries, offer group and individual disability insurance, group life and accidental death and dismemberment insurance, group dental and group vision insurance, absence management and paid family leave services, retirement plans products and services, individual annuities, origination and servicing of fixed-rate commercial mortgage loans and investment advice.

Seattle Schools Scholarship Fund

The Seattle Schools Scholarship Fund (SSSF) has received a high-impact gift of $5 million from the estate of the late C. David Hughbanks, a Ballard High School alumnus from the class of 1954. The gift is the largest donation to the Seattle Public Schools student post-secondary scholarship fund and the largest private donation of any kind to Seattle Public Schools. Every year, SSSF provides $5,000 scholarships to students from each of Seattle's 17 public high schools to attend any institution of higher learning. In the 2022-23 school year, the fund provided 51 scholarships to Seattle Public Schools scholars. Thanks to this gift, SSSF will be able to increase the number of scholarships awarded to 68 and increase the amount of each scholarship to $7500. The gift along with other donations, will allow SSSF to continue offering half a million dollars in opportunities for the next ten years. The gift will be celebrated at the 50th Anniversary Awards Ceremony of SSSF on May 9, 2024. Hughbanks volunteered his service to over 50 boards in his lifetime. He played a major role in coordinating several Seattle cultural events including the 1962 Seattle World's Fair, the first Bumbershoot, the first NW Folklife Festival, and the 1976 Bicentennial 4th of July celebration.

Opanga Networks

Seattle-based Opanga Networks, a global provider of AI/ML-powered network performance and efficiency technology, named Cole Brodman CEO, following the retirement of founder and CEO Dave Gibbons, who remains on the board of directors. In his position, Brodman will oversee Opanga's expansion with operators in new regions and lead the launch of the company's machine learning and artificial intelligence platform, Opanga RAIN. Brodman brings more than 30 years of experience in the wireless and telecommunications industry, including having previously served as CTO and CMO for T-Mobile USA, where he played a key role in the company's IPO and subsequent growth. Brodman has served as a member on Opanga's Board of Directors for the past eight years.

Feb 15, 2024

Rosario Resort finds buyer

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We won't know the price or new owner's name until the deal closes at the end of this month, but Rosario Resort announced that it will shutter itself for much of February for renovations before changing hands. The Barto family acquired the 83-acre Orcas Island waterfront property back in 2008, then paying about $5.5 million. It was listed last year by Scott Cameron and Wes Falkenborg at Land Advisors Organization. The reported asking price was $15 million. The family said this week, “The new owner plans a substantial upgrade, beginning with the historic Moran Mansion.” That grand home is over a century old. The resort also includes a spa, restaurant, 65 rooms and various amenities for guests.

Broderick Group

To

Broderick Group announced its recent hiring of Kyla To, who becomes director of operations and marketing. The firm said in a press release, “Kyla knows the art of building lasting relationship, project management and thinking creatively through sales enablement and marketing tactics. She looks forward to leveraging her background while ensuring the highest levels of excellence, quality, and service for the benefit of Broderick Group's valued clients.”

JLL secures $79M refi in Bremerton

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Marina Square

Completed almost exactly one year ago by developer Sound West Group, Marina Square is the large new mixed-use project on Bremerton's downtown waterfront, overlooking the city's marina. Now that its retail and 270 apartments are up and running, it's time to refinance the project and retire the old construction loan. JLL announced that it recently secured $79 million in refinancing from TPG Real Estate Credit. The effort was led by Tom Wilson, Steve Petrie and Seth Heikkila. The latter said in a statement, “Over the next several years, market dynamics in Bremerton are forecasted to outperform relative to most of the country, driven in large part by exciting new developments with the Puget Sound Naval Shipyard and Naval Base Kitsap. This will only further drive demand for high-quality multi-housing rental assets like Marina Square.” As for the 9,158 square feet of retail, JLL says that a deli, the Market at Marina Square, is now open, and that a YMCA and restaurant are coming.

Emerald Communities

Feddersen

Senior housing operator Emerald Communities announced the recent promotion of its Denisa Feddersen, who moves from her prior role as corporate controller to become VP and CFO. Emerald's Lisa Hardy said in a statement, “Denisa has proven to be a highly valued leader for the finance team, successfully leading the budget processes for Emerald Communities, Emerald Heights and Heron's Key. We are proud to promote Denisa and excited to watch her thrive in her new role.”

Berkadia lands $21M loan for Pierce County deal

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Duo

As the DJC reported earlier this month, the fairly new 104-unit Duo apartments in University Place sold for nearly $30.5 million. The seller was builder/developer SEB Development, and the buyer was a private investor group. Now Berkadia has shed a bit more light on the Pierce County deal. Its Michael Manolides, Robert Doxsee, Michael Basinski and Brad Williamson secured a $21.5 million loan for the buyer. The lender was Bayview, of Coral Gables, Florida. Manolides said in a statement, “Despite the volatility in the capital markets and the unique nature of the in-progress lease-up, Berkadia was able to find a non-recourse, fixed-rate loan, which greatly reduced the sponsor's interest rate risk over the near term.”

Washington State Broadband Office

Gov. Jay Inslee appointed Aaron Wheeler to serve as director of the Washington State Broadband Office within the Department of Commerce. Wheeler is an information technology professional with 18 years of experience working with the Suquamish Tribe's government. Wheeler's first day on the job is March 1. He'll lead the WSBO as it works with other state agencies and private partners to develop and implement a five-year action plan and digital equity plan to create universal, reliable high-speed internet across Washington. Wheeler has a degree in information technology and administrative management from Central Washington University, and an executive master of business administration from Washington State University. Previously, Wheeler led a team deploying 135 free public wireless access locations and a cooperative project with the Kitsap Public Utilities District, and he collaborated with state legislative leaders to pass public retail broadband legislation, which allowed an array of local governments to offer retail and wholesale broadband services to residents in Tribal and rural areas. He also co-authored a National Telecommunications and Information Administration grant application for broadband equity and digital education on behalf of the Suquamish Tribe. The Broadband Equity, Access, and Deployment Program is working to get all Americans online by funding partnerships between states or territories, tribal nations, communities, internet providers and other stakeholders to build infrastructure where needed and increase high-speed internet adoption. The federal program provides over $42 billion for infrastructure planning and implementation nationwide. Washington will receive more than $1.2 billion in funding.

Embrace Whidbey and Camano Islands

Loercher

Morascini

Embrace Whidbey and Camano Islands added two new members to its creative team. Inge Morascini will lead marketing efforts in the position of public relations and marketing director, overseeing implementation of the county's new approach to regenerative tourism. She will act as spokesperson for the destination marketing organization, representing tourism in Island County at the county, state, and national level. Krista Loercher was named Embrace program manager, and will engage the community, businesses, non-profits and government in the principles of regenerative tourism. Building on the Regenerative Places program conceptualized in partnership with the Transformational Travel Council, this approach to tourism supports and builds healthy relationships with local communities. It promotes care the islands' environment and culture from visitors. Morascini comes from both corporate and agency marketing backgrounds, having held executive level vice president positions in both marketing and creative direction, and most recently served as executive director at the Langley Chamber of Commerce. Morascini has been on the board of Island County Tourism since 2016. She will take the position previously held by Sherrye Wyatt. Loercher is the owner and operator of Whidbey Island Kayaking. She was recently re-elected to her second term as a South Whidbey Park and Recreation District Commissioner. Other members of the creative team are Laura Hilton, film liaison; Jack and Diane Penland with Computerpix digital marketing, Osborne Northwest Public Relations, media and influencer relations; and Rosencranz Productions, graphic design.

Economic Alliance Snohomish County

Tappana

Economic Alliance Snohomish County named Daniel Tappana as its new business retention and expansion coordinator. His appointment is effective March 4. Tappana was most recently a business development manager within the Aerospace Division at the state of Washington's Department of Commerce. There, he played a role in deploying over $2 million in state grant funding to support economic development, facilitating the creation of more than 3,000 jobs and nearly $1 billion in capital investment across the state. Before his tenure with the state of Washington, Tappana served as a project manager for the Sstate of Missouri's Department of Economic Development. Tappana also served as a Government Affairs Fellow with the Organization for International Investment in Washington, D.C. In his new role, Tappana will lead a coordinated employer outreach process and advocate for solutions to the business climate and regional growth issues in advanced manufacturing and clean energy. Additionally, Tappana will play a role in recruitment, facilitating attraction projects, overseeing proposal processes and participating in trade shows to generate leads. The Economic Alliance Snohomish County is the largest regional economic development organization in Snohomish County, and supports a globally competitive regional economy in which all businesses can thrive and participate equally.