Apr 10, 2020

The Standard

MacGillivray

Portland-based Standard Insurance Co. (The Standard) promoted Mark MacGillivray to director of financial institutions in annuities. MacGillivray joined The Standard in 2006 and most recently was regional sales director in annuities. In his new role, MacGillivray is working with the internal sales team, regional sales directors and external partners to seek out new broker-dealers and banks for the individual annuities business line.

Schnitzer Steel Industries

In Portland, Schnitzer Steel Industries picked Tamara L. Lundgren to succeed John D. Carter as board chair. Lundgren is the company's president and CEO. Carter continues as a board member and is chairman emeritus until 2021. Schnitzer is one of the largest manufacturers and exporters of recycled metal products in North America, with facilities in 23 states, Puerto Rico and western Canada.

Leafly

Seattle-based cannabis technology company Leafly launched Leafly Delivery, an expansion to its online ordering system targeting cannabis retailers that operate their own delivery fleets. The ordering system is available in states that allow delivery for recreational and/or medical cannabis: Michigan, Maryland, New York, Florida, Nevada, Arizona and Oregon.

Rocky Mountain Elk Foundation

The Rocky Mountain Elk Foundation and its partners awarded $880,232 in grants toward Washington wildlife habitat enhancement and scientific research. The funds will be used for forest thinning, meadow restoration, prescribed burning, noxious weed treatment, aspen restoration and planting of nutritional forbs. They will benefit 6,378 acres of elk habitat across Asotin, Chelan, Clallam, Columbia, Garfield, King, Kittitas, Okanogan, Pend Oreille, Pierce, Skamania, Thurston and Yakima counties.

Apr 09, 2020

State of Washington

The state Department of Commerce hired Steven Maheshwary as principal advisor to Gov. Jay Inslee on the information and communications technology sector. Maheshwary also is directing economic development for the ICT sector in the state. He was a program lead at Amazon focusing on building products and services for low-income customers and underserved communities. Prior to that, he worked at Microsoft and several startups. He is based in Commerce's Seattle office.

US Post Acute Care

Tacoma-based US Post Acute Care hired Jon Brannon as vice president of recruitment. Brannon has 20 years of recruitment experience with major health care systems, most recently as system director of physician provider recruitment for Adventist Health. Prior to that, he was a group vice president for HCA. US Post Acute Care provides management services for post-acute clinics.

F5 Networks

In Seattle, F5 Networks added Sri Shivananda to its board. Shivananda is senior vice president and chief technology officer of digital payment company PayPal Holdings. He also held leadership roles at eBay.

Funko

Everett-based pop culture consumer products company Funko furloughed a significant portion of its employees to address operations during the COVID-19 outbreak. The company also cut executive and upper management salaries, and is reducing operating expenses and non-product development capital expenditures, as well as reducing inventory to align with anticipated sales. Furloughed employees still have their health benefits.

Strategic Wireless

Costa Mesa, California-based Strategic Wireless Infrastructure Funds Management acquired a cell tower in La Grande, Oregon. Snake River Tower was constructed in 2012 and is close to the center of town and Eastern Oregon University. Strategic Wireless says the existing anchor tenant on the tower is a top-tier wireless carrier and there is capacity for two additional broadband tenants. Other details were not available.

Burrard says Nexus selling nicely

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During the last 45 days (as of last week), Burrard Group says it's closed sales for 180 of the 389 pre-sold condominiums at its Nexus tower, at 1808 Minor Ave. in the Denny Triangle. The rest are expected to close by the of next month. Broker Erik Mehr said in a statement, “Despite everything going on in the world right now, the Nexus sales team is feeling optimistic about sales. We're seeing that select real estate properties like Nexus are staying fairly resilient, and that's welcome good news, not only for this project, but for the Seattle real estate market in general.” A few condos remain unsold. Because of the coronavirus pandemic, tours are available by appointment only.

KM raids Colliers talent pool

Hutchins

Pelluer

Kidder Mathews announced that brokers Steve Pelluer and Kim Hutchins have joined its Bellevue office. They jumped ship from Colliers. The two will join KM's religious and educational facilities group, a sector where many empty churches have been selling of late. Pelluer's name is familiar to those outside the industry, since he played football for the University of Washington and Dallas Cowboys. The two-man team has a past client roster including Salvation Army, Habitat for Humanity, and Downtown Cornerstone Church.

KM brokers receive industry honors

Anderson

Rosauer

Lugar

Miltenberger

Wood

Krueger

Connect Media has honored several regional brokers among its 2020 Top Broker Awards. Among industrial brokers, Kidder Mathews' team of Matt Wood, Tony Miltenberger and Evan Lugar was so honored. Their 2019 deal volume was 81 transactions worth $195 million. On the investment sales side, KM's Jason Rosauer, Rob Anderson and Kristyn Krueger were also thus anointed. Last year they did $633 million in deals.

Moran has local ties in big Bay Area deal

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Back in December, on behalf of two married investors in California, Moran & Co. sold two older Kent apartment complexes with 361 units for $79 million. Moran's Jeff Williams, Tim Brown, Amy Laramore and Matt Ricci also secured the buyers of both properties (the Royal Firs and Lake Meridian apartments), which were Phoenix Realty Group of New York and partner Hanover Real Estate Investors, of the Bay Area. The sale was a 1031 exchange, and Moran recently helped the California couple find a new property to purchase: the new 130-unit Baxter on Broadway apartments, which are in Oakland. Williams and Brown, with Brett Betzler in Moran's San Francisco office, brokered that $81 million deal. It closed at the end of March, and was worth about $623,000 per unit.