Jul 14, 2022

Lake Union Partners

Wong

Surdyke

Two experienced real estate pros have joined Lake Union Partners, the firm recently announced. Scott Surdyke joins the firm as senior development manager. A CPA, Kevin Wong will be assistant controller.

Unpriced sale in Bellingham

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Institutional Property Advisors brokered both sides of a recent apartment sale up in Whatcom County, which recorded the transaction but not the price. The 112-unit Old Mill Village, on the west shore of Lake Whatcom, sold to an LLC associated with Investors Equity Group of Michigan. The sellers were Seattle investors who acquired the property in 2016 for almost $9.4 million. IPA's team consisted of Ryan Harmon, Nick Ruggiero, Philip Assouad and Giovanni Napoli. Harmon said of the Bellingham market, “Over the past few years, the city's diverse job base, strong in-migration and rising single-family home values let to strong apartment demand growth.” The complex was developed in 1976 and 1984 over 30 acres.

$67M loan for Mukilteo apartments

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Snohomish County hasn't yet recorded the sale, but CBRE announced that it recently secured a $67 million loan to recapitalize the 235-unit Bella Terra in Mukilteo. CBRE's Nick Santangelo, Matt Thorp and Rick Brody led the effort to obtain what it called a five-year, floating-rate, full-term, interest-only loan. CBRE says the new owners are Holland Partners Group and Principal Real Estate Investors. The last recorded sale came in 2016, for $70 million, to an LLC associated with Starwood Property Trust. Said Santangelo, “CBRE was able to source very accretive debt that fit the structure and needs of the sponsor's investment.”

Big lease up in Everett

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Latitude Development began a speculative industrial project last summer at the Port of Everett, on land it purchased for $4.8 million. Donovan Brothers was the general contractor and Nelson the architect, for Baywood Park. Now that 234,458-square-foot building has landed a single tenant, thanks to Broderick Group: OnTrac Logistics. Dave Kessler of Latitude said in a statement, “We are extremely pleased to be able to lease the entire building to OnTrac prior to completion, and help the Port bring significant new jobs to the city of Everett. We look forward to helping OnTrac occupy the building toward the end of the year.” Broderick's Steve Henderson, Connor Gilchrist and Rawley Holmberg led the leasing effort.

MultiCare

James Lee has joined MultiCare Health System as executive vice president of population-based care and chief financial officer. Bringing 30 years of experience in health care, Lee will lead MultiCare's population-based care strategy and oversee financial performance. For 17 years, Lee served as executive vice president and chief financial officer for Adventist HealthCare in Gaithersburg, Maryland, before transitioning to the role of chief strategy and growth officer. While at Adventist, Lee introduced employee wellness programs that aimed to identify health issues early and facilitate timely care. Lee also worked for more than a decade to bring a new hospital to a Maryland community in need of a modern health care facility. Prior to Lee's tenure at Adventist, he focused on improving operations at several hospitals and health systems by reducing length of stay and enhancing provider practice management. Lee's educational background includes a bachelor's degree from the Sao Paulo School of Business Administration in Brazil and master's degrees in public health and health administration from Loma Linda University in California. MultiCare is a not-for-profit health care organization with more than 20,000 team members, and is the largest community-based, locally governed health system in the state of Washington.

ZoomInfo

Vancouver-based ZoomInfo, a software, data and intelligence firm, has hired Bryan Law as chief marketing officer. Law will lead ZoomInfo's marketing organization and will prioritize driving demand and supporting company growth, enhancing ZoomInfo's brand awareness, and expanding ZoomInfo's thought leadership. Law brings two decades of leadership experience from his time at Salesforce, Tableau, Rackspace, Google, and Monitor Deloitte. Most recently, he served as senior vice president, marketing and general manager of eCommerce at Salesforce, which he joined through the company's acquisition of Tableau. He held a similar role at Rackspace after initially leading strategy and serving as chief of staff to the CEO. Law began his career in strategy, first as a consultant and then as part of the leadership for Google's central strategy team focused on sales, marketing and partnerships.

Rent-A-Center

Rent-A-Center is opening a new store at 1620 Plaza Way in Walla Walla. The grand opening will be on July 16, with Randal Whitsitt as store manager. As a part of Rent-A-Center's mission to give back to those in need, the new store will contribute $1,000 to Blue Mountain Action Council, a local organization dedicated to delivering services and support to poverty-stricken neighbors in Southeast Washington and building stable and thriving communities. Rent-A-Center operates 36 locations in Washington. Rent-A-Center is a provider of technology driven, flexible, no debt obligation leasing solutions that offer underserved consumers access to and potential ownership of durable goods including furniture, appliances, electronics and computers.

SeekOut

Bellevue-based-SeekOut, an enterprise talent optimization platform, has hired Claire Fang as chief product officer. Fang was recently the chief product officer for the EmployeeXM product line at Qualtrics. Throughout her career, she has held various product leadership positions in the tech industry, including leading the business platform product team at Facebook, building and growing Microsoft's cloud platform Azure, consulting experience at McKinsey, and overseeing all product development efforts at a drone startup, eHang. In her new role, Fang will be responsible for product strategy and leading teams to deliver the full suite of talent optimization offerings, including talent acquisition and internal talent solutions. SeekOut has spent the past few months investing in expanding its leadership team. The company has brought on Sam Shaddox as VP of legal, Dailah Lester as VP of revenue operations, and Jana Morrelli as VP of customer success.