Jan 23, 2025

Rise receives $92M in refinancing

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Joseph Arnold Lofts

Rise Properties Trust has, over the past dozen-odd years, become a major multifamily investor in our market. The Canadian REIT has a local office, and about 6,000 units in the Pacific Northwest. Among those are the 131-unit Joseph Arnold Lofts (pictured) in Belltown and the 135-unit Jack Apartments on Capitol Hill. Mesa West Capital recently announced its $92.5 million refinancing package for the duo. CBRE's James Bach represented Rise in the deal. Working from its San Francisco office, Mesa West's Josh Westerberg led the underwriting effort on the five-year loan. He said in a statement, “Multifamily demand has been strong, which has helped offset the influx of new supply to the market. As construction starts have halted, the new and upcoming supply should be fully absorbed in the next two years, which should help accelerate rent growth in the years to come.” Mesa West typically makes loans in the $20 million to $400 million range. Over the past two decades, it has sourced around 400 such deals worth around $27 billion.

NAIOPWA turns to the East(side)

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Meydenbauer Center

Feb. 26 will mark the next monthly NAIOPWA breakfast meeting, to be held at 8 a.m. at Meydenbauer Center in downtown Bellevue. Appropriate to the venue, the discussion topic will be “Bellevue: Big Tech, Big Changes.” As DJC readers know, Microsoft is decamping from the downtown Bellevue core, returning employees to its expanded Redmond HQ, with a more lenient approach toward work-from-home. Meanwhile, Amazon is mandating a five-day return to the office, and shifting ever more of its workforce from SLU to downtown Bellevue. And yet, it's also seeking to sublet some its shiny new buildings there. And Meta/Facebook is also seeking to sublet some of its buildings at the Spring District. All of that should figure in a panel discussion to include Aaron Laing of IMA Financial Group, Whit Hamlin of Sterling Realty Organization and Patrick Miller of Snap. Details and info: http://www.naiopwa.org

Real Retail

Sheets

Kinfe

Real Retail announced that Bezawit Kinfe has joined the brokerage as a marketing coordinator. She said in a statement, “I look forward to leveraging my design, brand marketing and data analysis skills to drive our market presence and generate impactful results for our clients.” Also recently promoted in-house is Garrett Sheets, who now becomes transaction coordinator. He added, “I'm thrilled to step into my new position playing a more integral role in our firm's transactions and daily communications.” Maria Royer leads the firm, and said of both, “We look forward to the innovative perspectives each will bring to our growing team.”

Schweitzer Engineering Laboratories

Nestegard

Whitehead

Schweitzer

Ed Schweitzer, president of Schweitzer Engineering Laboratories (SEL), has asked CEO Dave Whitehead to assume the role of president, and chief business and financial officer Joey Nestegard to assume the role of executive vice president. Schweitzer also requested his position be changed from president to founder and shared the following: “Dave and Joey are already doing an excellent job leading SEL, and at this point, I want to be contributing more as a mentor, inventor, collaborator and teacher. Their promotions recognize their leadership and our teamwork.” Schweitzer has set the strategic direction of SEL since its founding in 1984. He is known for his many contributions to the electric power industry as an engineer and inventor, as well as for his leadership and approach to business. Whitehead joined in 1994 as a hardware engineer. He led the Research & Development division for more than a decade before taking on the roles of chief operating officer and then chief executive officer. Nestegard joined the company in 2002 as a finance professional. Over the years, he has taken on increasing responsibilities, eventually becoming the chief business and financial officer in 2017. He is an advocate for the employee ownership model and its benefits for long-term decision making and business stability. He managed the SEL transition to 100% employee-owned in 2009. SEL invents, designs and builds digital products and systems that protect power grids around the world. The company is headquartered in Pullman.

Pacific Retirement Services

Moody

Pacific Retirement Services (PRS) has named Ky Moody as executive director of Mirabella Seattle, one of its life plan communities located in the South Lake Union neighborhood. Moody has nearly 15 years of experience in continuing care retirement communities, including as regional director of operations with the Tutera Group in the Midwest and, most recently, executive director of a Lifespace community in South Florida. “Ky's enthusiasm, team-building skills, and extensive experience across all facets of senior living make him an outstanding fit for Mirabella Seattle,” says Alex Candalla, regional vice president of operations for PRS. Moody will oversee all aspects of Mirabella Seattle's full spectrum of care.

Smartsheet

Bellevue-based Smartsheet, an AI enhanced enterprise grade work management platform, announced the completion of its acquisition by funds managed by Blackstone and Vista Equity Partners in a transaction valued at approximately $8.4 billion. The transaction was previously announced in September, and approved by Smartsheet stockholders on Dec. 9. With the completion of the take private transaction, Smartsheet stockholders are entitled to receive $56.50 in cash for each share of Smartsheet common stock they owned immediately prior to the closing. Smartsheet's stock has ceased trading, and the company is no longer listed on the New York Stock Exchange. Smartsheet, Blackstone and Vista will seek to invest to expand the company's collaborative work management solutions, and allow Smartsheet to scale its international business and make its products and expertise available to customers and partners worldwide. Qatalyst Partners acted as exclusive financial advisor to Smartsheet, and Fenwick & West as its legal counsel.

Jan 22, 2025

Barghausen Consulting Engineers

Bowman

Plaza

Rolfe

Ta

Torres

Chinappi

Berry

Bond

Fleharty

Clinch

Padilla

Hoglan

Lamotte

Gilmer

Johnson

Barghausen Consulting Engineers recently hired three new employees in their Kent office, hired one new employee in their Chehalis office, and promoted eight employees in their Kent office, two employees in their Chehalis office, and had one employee pass the Fundamentals of Engineering exam.

The new hires in the Kent office are:

Joshua Torres, mailroom/print reproduction clerk. Torres graduated from Cal Poly Pomona in March of 2015 with a B.A. degree in Communications. He previously worked as a senior staff writer, tech operations assistant, and post office clerk.

Leanh Ta, administrative assistant. Ta graduated from North Carolina State University in December 2019 with a B.S. in Materials Science and Engineering and received a certificate in Professional Technical Writing from the University of Washington in June 2024. Ta previously worked as engineer II at RTI International.

Lorna Rolfe, facilities specialist. Rolfe graduated with a degree in History/Psychology from Gonzaga University in December of 1983 and previously worked in several maintenance and carpentry positions.

The new hire in the Chehalis office is Philip Plaza, senior CAD technician. Plaza graduated from Centralia College with a degree in Civil Drafting and Civil Engineering CAD/CADD in 2005. He previously worked as a drafter/designer.

Promotions in the Kent office are:

Andrew Bowman, project planner. Bowman joined Barghausen in May 2022 as an assistant planner and has supported various tasks such as research, site planning, reporting, and coordinating permits. He has also contributed to client programs. Over time, he has taken on more responsibility and worked diligently to grow as a project manager.

Carmen Clinch, project engineer. Since joining Barghausen in June 2021, Clinch has managed key programs, recently passed the P.E. Exam, and gained the trust of colleagues and clients.

James Fleharty, project engineer. Since joining as a design engineer in March 2021, Fleharty has become vital to the team's success. He's developed strong technical, communication, and project management skills.

JP Bond, senior CAD technician. JP joined Barghausen in June 2024 with experience in residential architecture. He has since become a key contributor to projects like car washes and convenience stores.

Mitchell Berry, senior CAD technician. Berry joined in February. His work on Revit prototypes and process improvements has greatly impacted a major client account.

Nick Chinappi, senior survey party chief. Chinappi joined in October 2020 with a lifetime of survey experience, starting at 16. Over the years, he gained valuable knowledge from industry mentors and worked on various complex projects.

Riley Johnson, project planner. Johnson joined Barghausen as an assistant planner in January 2024, bringing valuable land planning experience. He has assisted with due diligence research, site planning, report writing, and processing land use applications and construction permits.

Ryan Gilmer, project engineer. Since May 2022, Gilmer has excelled in engineering design, client relations, and project management, becoming a key contributor to client programs and new client initiatives

Promotions in the Chehalis office are:

Dan Lamotte, senior civil project manager. Lamotte, a team member since April 1992, is a skilled designer and mentor. In his leadership role, he fosters collaboration, tackles challenging projects, and ensures the highest standards of service.

Josh Hoglan, project engineer. Since joining in October 2016, Hoglan has managed multiple projects and built strong client relationships.

Raul Padilla recently passed the Fundamentals of Engineering exam.

Gensler

Emery

Architecture and design firm Gensler has welcomed JP Emery as northwest regional practice area leader for senior living. JP is a licensed architect with over 20 years' experience leading clients and teams in the development of award-winning senior living and multifamily communities. Since the beginning of his career, JP has studied the relationship between aging and the built environment and is passionate about the convergence of design and the built environment to enhance the lives of residents and help integrate them into the neighborhoods in which they are a part, while fostering connections between generations and helping older adults to live their best lives.

Public Facilities Group

Cooney

Public Facilities Group (PFG) hired Matt Cooney as vice president. With nearly 20 years of experience in municipal finance, first with Lehman Brothers and then with Barclays' Seattle office, Cooney brings to PFG a wealth of municipal market knowledge and experience, including working with prominent municipalities in the western United States across a variety of credit structures. PFG finances and delivers public facilities for government and not-for-profit entities using privately issued municipal lease revenue debt structures. Prior to joining PFG, Cooney had managed roughly 15 similar third-party lease revenue financings for a variety of end users, with an aggregate par amount of approximately $1.6 billion. Cooney's addition reinforces Public Facilities Group's mission to reduce the cost and risk to municipal partners while maintaining the quality of developing essential government facilities.

B+E Consulting Partners

Carlson

B+E Consulting Partners hired Sarah Carlson as a new senior associate. With extensive experience in design build and commercial construction tenant improvements, she will be responsible for overseeing key projects at Lumen Field. Carlson brings 25 years of expertise in managing high-impact projects across various commercial markets. Most recently, she served as a senior construction project manager managing construction of the Seattle Storm Center for Basketball Performance project. Carlson holds a B.A. in Architectural Studies and B.S. in Construction Management from the University of Washington and is DBIA Certified. Founded in 2022, B+E Consulting Partners is a Pacific Northwest Owner's Representation company known for providing development and construction management services.