Oct 24, 2019

America's Automotive Trust

Jennifer Maher is the new CEO of America's Automotive Trust, which includes entities America's Car Museum and RPM Foundation. Maher took over for David Madeira, who retired after 17 years with the Tacoma-based nonprofit. Madeira continues as vice chair of the board and is assisting Maher with fund development. Also, the boards of America's Automotive Trust and America's Car Museum merged into one board that provides oversight to both entities.

City of Kenmore

The Kenmore City Council approved an agreement for city attorney services with Inslee Best Doezie & Ryder, and City Manager Rob Karlinsey appointed Dawn Reitan of Inslee Best as the new city attorney. Reitan has represented cities for over 26 years and has been with Inslee Best since 2000. She is currently the city attorney for Newcastle and Brier (and will continue in these roles), and has been acting city attorney for Kenmore since Rod Kaseguma retired earlier this year.

Maven

Paul Edmondson is the new president of Seattle-based Maven, an expert-driven group media network platform. Edmondson had been serving operationally as president since early in the year, but now his appointment is official. He replaces Josh Jacobs, who remains as a full-time executive. Edmondson was COO and continues with that role in addition to president.

Soul Community Planet

Soul Community Planet appointed Tobias Colvin as general manager of its renovated 49-room hotel in Redmond, Oregon, which is opening next month. Colvin has over 19 years of luxury hospitality management experience in hotel and resort operations. He previously held a senior leadership role at Black Butte Ranch in Sisters, Oregon. Soul Community Planet is based in San Juan Capistrano, California. It operates another hotel in Colorado Springs, Colorado.

Frazier Healthcare Partners

Frazier Healthcare Partners is buying Mednax's MedData business for $250 million. Brecksville, Ohio-based MedData provides technology-enabled management services for hospitals, health systems and health care providers. It has over 20 regional offices across the country, including Seattle, Bellevue, Portland and Spokane. Frazier invests in health care companies. It has offices in Seattle and Menlo Park, California. Mednax is based in Sunrise, Florida.

PSW is now StoryBuilt

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There's a new corporate name change for PSW Real Estate, which is based in Austin, Texas, but has a Seattle office. The residential developer is rebranding itself as StoryBuilt. Co-founder Anthony Siela said in a statement, “We're storytellers, and we craft a narrative for each community we develop. Homes tell a story: the story of families created, lives improved, and time well spent.” In our market, those homes include townhouse projects in Georgetown, Ravenna and Shoreline. The firm's largest local project is a six-story condominium with 154 units planned at 5256 Rainier Ave. S. in Columbia City. Johnston Architects designed it, and StoryBuilt will apparently act as its own general contractor.

JLL announces $20M refi for Bothell biotech

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JLL announced another refinancing for the owner of Nexus Canyon Park, at 21720 23rd Drive S.E. in Bothell. Prior to JLL's recent acquisition of HFF, the San Diego-based HFF team of Tim Wright, Zack Holderman, Zack Goodwin and Anthony Rosetta secured $19.2 million from an unnamed lender. Nexus Properties of San Diego developed owned the 152,050-square-foot facility in 1999. Some of its space was recently converted from lab to flex industrial. Current tenants include Epoch Pharmaceuticals, Sony Biotechnology, Sound Biologics and Shimadzu Scientific. Holderman said in a statement, “Bothell is considered a strong secondary life science cluster for tenants seeking more affordable lab or manufacturing space as compared to South Lake Union.” The last refinancing for the property came two years ago, for $17.8 million, secured by the same team.

Mt. Baker Housing gets national honors

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Affordable Housing Finance has honored the $51 million Mt. Baker Village Apartments expansion/preservation project with its Readers' Choice Award winner for the current year. It was named a finalist in July. The roughly 60-year-old complex at 2914 S. McClellan St. has been increased to 156 units by nonprofit owner Mt. Baker Housing. The same project was also honored by Novogradac Journal of Tax Credits, which chronicles affordable housing, as a “Development of Distinction.” (The project employed federal low-income housing tax credits.) Funding came from multiple sources secured by Beacon Development Group. ARC Architects and general contractor Rafn Co. are also on the team.

WSHFC lands HUD dollars for O-Zones

The Washington State Housing Finance Commission has been granted $372,314 from the U.S. Department of Housing and Urban Development, which made the announcement. HUD also made grants in Idaho and Oregon that, including Washington, total $721,067. That Northwest subset is part of a broader $42.8 million package of grants. WSHFC, a publicly accountable, self-supporting state agency, will spend the money on counseling low-income renters and buyers in federally tax-favored Opportunity Zones, as HUD intends, which allow investors to defer their capital gains taxes. In Washington, there are some 139 census tracts that are so favored; many are in Sodo, the Duwamish area and Pioneer Square.