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CEO Roundtable: Market Challenges and Opportunities

A Closer Look at What, Where, and How Seattle's Top Executives are Building and Deploying Capital in Seattle

Pat Callahan

Pat Callahan

CEO

Urban Renaissance Group

Greg Smith

Greg Smith

CEO

Urban Visions

Craig Wrench

Craig Wrench

CEO

Washington Real Estate Holdings

David Cuthill

David Cuthill

CEO

Clise Properties

Bill Frame

Bill Frame

CEO & Chairman

Kidder Mathews

Dorothy Reed
Moderator

Dorothy Reed

VP

USI

Pat Callahan

CEO

Urban Renaissance Group

As Founder and Chief Executive Officer, Patrick Callahan drives the vision, strategy and overall direction at Urban Renaissance Group (URG), a full-service commercial real estate operating company with approximately 6.2 million square feet of office space, nearly 80 employees and multiple award-winning acquisitions and redevelopments.

With more than twenty years’ experience in the real estate industry, Patrick has been directly involved in numerous multi-million dollar lease transactions, acquisitions, development projects, assimilations, asset repositions and renovations. His firm has placed more than $500 million in capital on behalf of clients in downtown Seattle and Portland in the last 24 months alone.

Prior to founding URG in 2006, Patrick held numerous key roles at Equity Office Properties Trust (EOP). As Senior Vice President, he oversaw a business unit of 18 million square feet, 114 buildings, 300 employees and more than $450 million in revenues in Seattle and Bellevue, Wash.; Portland, Ore.; and Denver, Co. He was also directly involved in more than 30 million square feet of acquisitions and 2.5 million square feet of completed development projects across nine markets. He played a significant role in one of the largest transactions in U.S. history when EOP acquired Spieker Properties for $7.2 billion in February 2001.

Greg Smith

CEO

Urban Visions

As the founder and CEO of Urban Visions, Greg governs the strategy, direction, and value creation for the firm’s development portfolio. A fifth-generation Seattleite, Greg has over 30 years of industry experience and has formed more than 30 ventures with value in excess of $1.5 Billion. Notable past projects include Millennium Tower, 4th & Madison, 5th & Madison, 901 5th Avenue, and the Reedo Building. Current projects under design and construction include 200 Occidental, Second and Pike, Stadium East, and 888 2nd Ave. Prior to forming Urban Visions, Smith was a Principal of his father’s real estate property management firm, Martin Smith Inc., and the Founder/President of MSI’s development subsidiary, Martin Smith Development Corporation. A respected leader and frequent speaker in the community, Greg is embedded in the fabric of Seattle real estate. He is known for his strong engagement with key stakeholders as well as leadership roles in shaping land use and development patterns throughout key neighborhoods in Seattle. Greg currently sits on the Board of Directors for the Pacific North West chapter of the World Presidents Organization (Chapter Chair), and the University of Washington Foundation.

David Cuthill

CEO

Clise Properties

Dave Cuthill is the CEO of Clise Properties, Inc. Founded in 1889, Clise Properties owns and manages

more than 3 million square feet of properties throughout the State of Washington, with a focus in

Downtown Seattle. Dave joined Clise in 2017 as President & COO. He was promoted to CEO in April of

2023.

Born and raised in Everett, Dave attended the University of Washington as an undergraduate, earning a

business administration degree (accounting concentration). Dave was a 3 year letter winner on the UW

Men’s golf team. Following the UW, Dave earned his law degree from Seattle University. He passed

both the CPA and Bar exams.

Professional experience includes time with Touche Ross (now Deloitte & Touche), Moss Adams,

Nordstrom (Divisional Vice President of Real Estate) and GGP, Inc. (Vice President of Development, West

Coast). GGP, Inc. was the 2 nd largest mall owner in the US and is now part of Brookfield.

Dave serves on the Executive Committee of the Downtown Seattle Association, is the Vice Chairman of

the Board of Directors of the NW Center and is on the Runstad Advisory Board at the University of

Washington.

Dave lives in Bellevue with his wife, Marikay and his daughter Maci. Dave has two older daughters,

Meagan and Katie.

Bill Frame

CEO & Chairman

Kidder Mathews

Bill Frame, SIOR, CCIM is chief executive officer and chairman of the board of Kidder Mathews – the largest fully

independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across

Washington, Oregon, California, Idaho, Nevada, and Arizona. The firm offers a complete range of brokerage, appraisal,

asset services, consulting, and debt & equity finance services for all property types.

As CEO, Bill directs the firm’s strategic vision, growth initiatives, and financial oversight, leveraging his extensive 30-year

career in commercial real estate. Throughout his tenure, he has served on Kidder Mathews’ Board of Directors, strategic

planning committee, and various executive committees, playing a key role in shaping the firm's direction and success.

In addition to his executive leadership, Bill has a distinguished brokerage background, specializing in corporate real

estate, healthcare, office, and investment properties. His achievements include being named SIOR Office Broker of the

Year and consistently recognized on the Puget Sound Business Journal’s Power 100 Leader list. He was also recognized

as one of the Middle Market Fast 50 honorees by PSBJ in 2022 and received the CEO USA Award from CEO Today

Magazine in 2023.

Bill holds a B.A. in Accounting from the University of Washington and has earned the prestigious Certified Commercial

Investment Member (CCIM) and Society of Industrial and Office Realtors (SIOR) designations. He is a member of the

National Association of Industrial and Office Properties (NAIOP) and Commercial Brokers Association (CBA).

Beyond his professional role, Bill is a dedicated advocate for cancer research and awareness. He serves on the advisory

board of the South Sound Care Foundation and founded the Frame Family Foundation, which has raised nearly $2 million

for cancer research. His philanthropic efforts contributed to organizations such as Memorial Sloan Kettering Cancer

Center in New York and the Care Foundation for Cancer Research in Washington.

Developing & Investing in Seattle's Multifamily Market

Analyzing Supply & Demand Dynamics, Capital Markets Outlook, Resident Attraction and Retention, and Targeted Neighborhoods

Steve Yoon

Steve Yoon

Senior Managing Director

Mill Creek Residential

Gabriel Grant

Gabriel Grant

Principal

Spectrum Development Solutions

Jonathan Manheim

Jonathan Manheim

President

HAL Real Estate

Chris Rossman

Chris Rossman

Managing Partner

Fourth Avenue Capital

Kirsten J. Day
Moderator

Kirsten J. Day

Shareholder

Buchalter

Steve Yoon

Senior Managing Director

Mill Creek Residential

Steve Yoon serves as Senior Managing Director of Development in the Seattle Market. In this role, Mr. Yoon is responsible for all aspects of the development process, including site acquisition, design, entitlements, financing, and eventual disposition.

Prior to joining Mill Creek in 2016, Mr. Yoon served as Director of Development at Wood Partners. Since beginning his career in 2006, he has successfully developed or managed approximately 4,000 apartment homes in Seattle and Portland.

Mr. Yoon received his Bachelor of Science in Civil Engineering at University of California, Berkeley and his Master of Business Administration from the University of Southern California.

Gabriel Grant

Principal

Spectrum Development Solutions

Gabe is a Principal at Spectrum Development Solutions. He brings a passion for creating great places, a deep commitment to civic affairs, and a strong multi-disciplinary approach to real estate. His extensive experience managing complex real estate transactions combined with a creative and collaborative approach allow Gabe to effectively lead development projects that result in long-term value for diverse stakeholders. Gabe is currently leading a number of workforce and student housing development projects.

Jonathan Manheim

President

HAL Real Estate

Jonathan Manheim serves as President where he oversees the company’s strategy, sourcing and structuring of new investments, and management of the existing portfolio.

Prior to joining HAL, Jonathan served as Director of Finance and Development for American Life. Earlier in his career, he held various investment roles with Clairvue Capital Partners (now StepStone Real Estate), the KOR Group, and Credit Suisse.

Within the Seattle real estate community, Jonathan serves as the co-chair of NAIOP Washington State’s Diversity and Inclusion Committee and mentors students at the UW Runstad Center for Real Estate Studies.

Jonathan earned his Bachelor of Arts in Economics from the University of Pennsylvania, where he concentrated in Real Estate and Urban Studies.

Chris Rossman

Managing Partner

Fourth Avenue Capital

Chris is a Managing Partner and Head of Development for Fourth Avenue Capital (“FAC”), focusing on investment strategy, development, and capital formation. FAC is a middle market real estate investment firm with offices in Seattle and Spokane and specializes in the acquisition and development of multifamily and student housing communities in the western US. FAC’s current portfolio consists of more than 1,000 units/beds in the Pacific Northwest.

Prior to forming FAC, Chris spent over a decade at The Wolff Company, a Scottsdale-based multifamily owner and developer, where he served as Senior Vice President of Development, managing the Pacific Northwest region and regional development production heads across the firm. At Wolff, Chris developed more than 5,600 multifamily and senior housing units totaling more than $1.4bn of investment. While at Wolff, several projects under Chris’ oversight received national design and industry awards.

Prior to joining Wolff, Chris was a Partner at Urban Evolution, a Seattle-based multifamily housing developer focused on the development of mixed-use urban housing communities.

Chris received his BA and MBA from the University of Washington. He is active in several industry organizations including NAIOP, NMHC and ULI. Chris currently serves on the NAIOP Washington Board of Directors and Executive Committee.”

Future of Seattle’s Downtown

Discussing the Obstacles and Strategies to Restore the City's Core

Holly Gardner

Holly Gardner

President

The Schuster Group

Matt Rosauer

Matt Rosauer

Managing Partner

Pine Street Group

Jaebadiah Gardner

Jaebadiah Gardner

Founder and CEO

GardnerGlobal

Jackie Fraser

Jackie Fraser

Director

NINE dot ARTS

Jeff White

Jeff White

President and CEO

Holmberg Mechanical

Patricia Laughman
Moderator

Patricia Laughman

Partner

Cairncross and Hempelmann

Matt Rosauer

Managing Partner

Pine Street Group

Matt has been involved in a wide range of product types as an owner, developer, manager, and contractor. Matt is the managing partner of Pine Street Group. Based in Seattle, PSG’s particular strength is visualizing, developing and managing complex urban development projects, and delivering value to its clients.

Matt is currently finishing the 1.5-million-square-foot Seattle Convention Center Addition. The project also includes a 400-unit residential tower and a 500,000 square foot office building. Prior to the convention center, Matt oversaw the development of Via6, a 654-unit apartment building. Via6 is the largest single phase apartment project ever built in downtown Seattle.

Matt is a past board chair and director emeritus of Woodland Park Zoo, a current board member of Seattle Academy and Seattle Seawolves, serves on several other non-profit committees, and is a member of Puget Sound Business Journal’s 40 under 40, class of 2014.

Jaebadiah Gardner

Founder and CEO

GardnerGlobal

Jaebadiah S. Gardner is an African-American, Mexican-American business man, multi-family real estate developer, author and is the Founder & CEO of GardnerGlobal, Inc., a privately held holding company. Jaebadiah earned a bachelor’s degree from the University of Washington and later earned a Juris Doctor (J.D.) degree from Western Michigan Law School. Prior to founding GardnerGlobal Jaebadiah worked for Turner Construction building commercial high-rises in downtown Seattle with construction projects ranging from $50M-150M. Focused on strategic partnerships, Jaebadiah and his company had the opportunity to co-develop a 115-unit low-income housing tax credit project that was 30%- 60% AMI in Seattle, WA. The project was a $33 million-dollar affordable housing project in partnership with a quasi-governmental local agency. From acquisition to lease-up, Jaebadiah lead the efforts to hire the design and construction team, artists, ensure a successful rezone, entitlements, and a high level of diverse women and minority business enterprise participation.

Currently, Jaebadiah has cultivated a portfolio of $11.5M in land acquisition that will yield 600+ multi-family units. With a total development pipeline of $125M projects will include affordable, workforce and market rate units. In 2021, Jaebadiah launched GardnerGlobal’s first real estate fund. The Multi-family Access Fund I is a $10M fund dedicated to creating

wealth opportunities for the those who’ve been traditionally excluded. As the fund manager, Jaebadiah has raised over $5M that is currently serving as acquisition and early predevelopment funding for existing and future pipeline projects. Jaebadiah has served as a part-time instructor for the University of Washington, Bellevue College and Seattle Central College. He currently serves as a Board of Trustee for the Seattle Metropolitan Chamber of Commerce and President of the University of Washington MAP (Multicultural Alumni Partnership) Board.

Jackie Fraser

Director

NINE dot ARTS

Jackie is the Director at NINE dot ARTS, helping us grow our footprint while educating the real estate industry about our creative services and the value of art and culture in the built environment. With over ten years of business development experience with a focus in the life sciences market, Jackie has helped dozens of organizations expand into new markets and reach new targets. A New Hampshire native, Jackie has spent the last 7 years in sunny California. Outside of work, you can find her exploring the outdoors or enjoying theatre, visual art, and music.

Jeff White

President and CEO

Holmberg Mechanical

Jeff White is the CEO and President of Holmberg Mechanical. Holmberg Mechanical is a design-build specialty contractor with over 200 employees located in Bellevue serving both private and public clientele. Jeff stewards Holmberg’s vision to build and maintain critical sustainable facilities, establish lasting relationships, and provide a rewarding and significant business community for the next generation. Holmberg has completed over 3,000 multifamily and hotel units in the PNW and is design, construction, and budgeting for 1,000 more. In 2022, Jeff completed the development of the new Holmberg headquarters, a 30,000 square foot light industrial facility located on SE 9th St. As a developer, builder, and specialty contractor, Jeff understands many of the challenges owners, architects, and contractors encounter in the development, design and construction process.

Patricia Laughman

Moderator

Cairncross and Hempelmann

Patricia is a member of Cairncross & Hempelmann’s Litigation practice group. Her practice focuses primarily on complex commercial disputes, construction litigation, and employment law. She also does transactional work and has drafted, negotiated, and analyzed design and construction contracts for a vast array of construction projects. Patricia represents companies of all sizes and her clients include design firms, architects and engineers, contractors, owners, and consultants. Patricia manages all aspects of complex litigation, from multi-party discovery, expert and fact depositions, through hearings, trial and appeal. She takes the time to dig deep into the technical information of her cases, gathering a strong foundation of knowledge on which to base her legal position. Patricia’s clients also benefit from her ability to provide practical, actionable legal counsel relating to risk management and dispute resolution. This aspect of her practice has grown in the recent years and is directly informed by her litigation experience. Treating her client’s money like her own, Patricia is value driven and cost conscious when it comes to the strategic legal advice she provides. This mentality extends into her approach to each case, working to develop relationships with opposing counsel to maximize the outcomes for her clients through effective negotiation and cooperation across the table.

What You'll Learn From This Commercial Real Estate Event:

What You’ll Learn From Seattle CRE Leaders:

  • In a post-pandemic world, how has each asset class evolved in Seattle? Which markets have experienced an increase in demand for new products?

  • What national trends are we witnessing, and how are they impacting the Seattle market?

  • How is capital being allocated across different asset classes and locations?

  • What efforts are developers and owners undertaking to revitalize downtown Seattle?

  • How are downtown businesses collaborating to ensure a swift recovery?

  • Year-to-date, investors traded $3.2B for multifamily assets in Seattle, representing a $900M increase compared to the same period last year. What are some trends influencing the multifamily market in today's volatile environment?

    • What types of amenities and technologies are being implemented to attract and retain tenants?

    • Is it becoming increasingly essential to create environments that promote community engagement?

  • Which submarkets of Seattle are most favorable for new multifamily supply?

How You’ll Do More Business From Attending This Conference: Seattle, alongside many other major markets, has faced countless hurdles in recent years. Some are taking longer to recover, while others are rebounding at a faster pace. Seattle has proven its resiliency through increased transactions, investments, and development numbers. Join us as we take a closer look at Seattle's investment and development environment, explore the efforts of owners and developers in revitalizing downtown, delve into the supply and demand dynamics of the multifamily sector, and discuss strategies for attracting and retaining residents in today's market.

Who You’ll Meet During Networking: Owners, developers, investors, brokers, city and government officials, business consultants, architects, engineers, lawyers, accountants and bankers.

Why You Should Attend This Session: Bisnow events bring together the biggest power players in the industry to help you identify opportunities, build your network and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business more than we do.

For questions, recommendations, comments or press inquiries please email our event producer, Bora Altunay, at bora.altunay@bisnow.com.

To request disability-related accommodations, please contact rachel.sundin@bisnow.com no later than seven business days prior to the event.

Venue

Renaissance Seattle Hotel
515 Madison Street
Seattle, WA, 98104

Ballroom: Courtyard Ballroom/Foyer


Flat rate of $17 for event self-parking.

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Agenda

Time Activity
3:00 PM
4:00 PM
Breakfast & Networking
4:00 PM
4:45 PM
Developing & Investing in Seattle's Multifamily Market

Analyzing Supply & Demand Dynamics, Capital Markets Outlook, Resident Attraction and Retention, and Targeted Neighborhoods

4:45 PM
5:00 PM
Networking Break
5:00 PM
5:45 PM
Future of Seattle’s Downtown

Discussing the Obstacles and Strategies to Restore the City's Core

5:45 PM
6:30 PM
CEO Roundtable: Market Challenges and Opportunities

A Closer Look at What, Where, and How Seattle's Top Executives are Building and Deploying Capital in Seattle

6:30 PM
7:00 PM
Closing Networking