"After working together for more than 14 years, it's time for me to take a slightly less involved role …," says Wyse.
Close tells GlobeSt.com the changes are part of a succession plan that has been in place for many years. He adds that Wyse will continue to service clients as usual but will be less involved in administrative operations.
Joseph Sandahl, heretofore senior vice president, is filling Close's shoes as executive vice president. Close and Sandahl also have assumed positions on the board of directors.
Wyse co-founded Wyse Investment in 1988 after more than 40 years as a real estate and business attorney with the law firm, Stoel Rives. Later this month the company will move to 6,700 sf on the 11th floor of Unico Tower--the 40-story office building anchoring Downtown Portland's north end--from about 4,500 sf at 200 Market, a 19-story building anchoring the south end of Downtown.
In September, on behalf of a group of clients, Wyse paid $12.7 million to acquire One Embassy Centre, an 86,676-sf, class A office building located at 9020 SW Washington Square Rd. in Tigard, Ore. Although the company has invested $200 million in the past 10 years on behalf of individuals and pension funds and manages more than 1.5 million sf, the acquisition marked the first time Wyse has expanded its offerings to include limited partnerships.
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