Feb 13, 2020
Kidder Mathews has announced that Jeff Lyon will step down as CEO this July, as part of a planned three-year succession plan, to be replaced by the firm's current president and COO Bill Frame. Lyon will end his 21-year run in that seat, and will continue as chairman of the board. He said in a statement, “We've grown from four offices in Washington to 22 offices in five states and 850 people. It's just been phenomenal that we've become the largest privately-held commercial real estate firm on the West Coast.” The COO seat will be filed by Brian Hatcher.
Canyon Park East in Bothell sold in December for about $54.6 million. The office park buyer was a fund managed by Kennedy Wilson. Tom Pehl and Lou Senini of CBRE represented the seller, an LLC associated with Blackstone. Now CBRE has announced that its Brad Zampa, Mike Walker and Megan Woodring secured an over $38.6 million loan for KW. The East Coast lender wasn't named. The 269,400-square-foot park is at 22011-22215 26th Ave. S.E. and related addresses. CBRE says it's 83% occupied.
For the second year running, NAIOP Washington State has been named as Chapter of the Year. The national industry group is led by Thomas J. Bisacquino, who said the chapter was recognized “for their significant lobbying efforts, their strong membership recruitment and retention strategies, and their successful education and networking events.” Tina Pappas of Tarragon Property Services leads the local arm.
Skanska USA announced the recent promotion of its Charlie Foushée to VP of commercial development. He's been with the contractor and developer for four years (having made the move from Talon Private Capital), during which time he's worked on 2+U and led the drive to acquire the Bellevue building site on the Washington Square block (for $33 million), where a 25-story, 550,000-square-foot office tower is planned. Skanska said that Foushée “is currently working on a major acquisition for Skanska in the region.” Stay tuned.
As planned, Taylor Morrison and William Lyon Homes have completed a cash and stock acquisition deal worth about $2.5 billion. The larger Taylor Morrison, which is based in Scottsdale, Arizona, acquired William Lyon of Newport Beach, California. The deal is significant in the Puget Sound region, since William Lyon acquired Polygon Northwest in 2014, adding that Bellevue-based homebuilder to its portfolio of brands. Taylor Morrison now gains a major foothold in the Washington state, Oregon and Nevada markets, and becomes the nation's fifth-largest homebuilder. Taylor Morrison's Sheryl Palmer said in a statement, “This isn't just about being bigger. Taylor Morrison, combined with the rich legacy, reputation, solid land positions and experience the William Lyon team members bring to the equation, make us a stronger, better organization for the long-term.” Taylor Morrison will now have a headcount of around 3,000 employees, and expects over 14,000 closings this year.
Norris, Beggs & Simpson announced that it has sold its commercial real estate mortgage banking group to Gantry, of San Francisco. The deal doesn't affect NBS' consulting business or its Morrison Street Capital platform. Those will remain active in Seattle and Portland, where the firm is based. NBS' Michael Wood, from the Seattle office, will join Gantry — as will Blake Hering and Paddy Ryan in Portland. Wood said in a statement, “We have known the Gantry principals for decades. This familiarity and history mean our clients can expect a seamless transition into Gantry with no interruption to service or loan closings particularly with our mortgage banking staff joining Gantry.” Privately held Gantry already has an office in Seattle.
Vector Development of Kirkland has hired Max Cordell as assistant development manager, the firm announced. He makes the move from Banner Bank. Vector's Tyler Litzenberger said in a statement, “Max's financial and analytical background will help us manage existing projects as well as assess potential commercial real estate opportunities.” Vector is currently developing the $32 million MI-5 Business Park in Marysville, which should be completed this spring.
Keller Williams announced the addition of Saviya Robinson of Seattle Diverse Properties to its residential brokerage team. She makes the move from Coldwell Banker Danforth. Robinson is an over-10-year industry veteran.
Portland-based Standard Insurance Co. (The Standard) promoted Greg Chandler to vice president of information technology and Laxman Prakash to assistant vice president and chief information security officer. Chandler was vice president of IT solutions delivery. He joined the company in 2008 as director of infrastructure operations and was promoted a year later to assistant vice president of IT infrastructure. Prakash joined The Standard in 2011 as director of information security and business continuity, and was promoted in 2017 to second vice president of information security.
Dave Bailey is the new president and general manager of Arctic Information Technology in Anchorage, Alaska. Bailey's appointment comes on the heels of Arctic IT winning contracts with the National Park Service, city of Seattle and King County. Arctic IT is a Doyon Government Group subsidiary that manages IT networks and provides business application services. It has local offices in Seattle and Federal Way.
Portland vacation rental management company Vacasa appointed independent board member Matt Roberts as interim CEO. Roberts is former CEO of restaurant booking service OpenTable and former CFO of online consumer lending group E-Loan. Vacasa founder Eric Breon is stepping down as CEO but will remain on the board. Executive search firm Reynolds Associates has been hired to find a permanent replacement.
In Seattle, Frazier Healthcare Partners acquired EPTAM Precision Solutions and appointed Mark Kemp as CEO of EPTAM. Kemp is an operating partner at Frazier and has over 30 years of business experience, with expertise in the medical device market. He replaces Dana Waterman, who is pursuing other interests. EPTAM makes medical devices, implants and high-precision components. It has operations in New Hampshire, Colorado and New Jersey. Terms of the deal were not disclosed. Frazier invests in health care companies.
The Port of Seattle created a stand-alone department responsible for equity, diversity and inclusion. It says it's the first port authority in the nation to do so.