Investment Team

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Brian M. Canion, CFA - Portfolio Manager, Equities

Brian Canion

Brian joined WCM in 2005 as a project analyst helping the firm to implement accounting and trading system enhancements. In early 2006, Brianís responsibilities expanded to include equity research. In 2014, Brian became a portfolio manager for the value strategy and in 2016 took over as portfolio manager for the growth strategy. Prior to WCM, Brian spent 5 years at Russell Mellon Analytical Services. There he began work as an attribution analyst and later became an analyst and operations lead for the Russell Index team. Brian earned the right to use the Chartered Financial Analyst designation in 2004 and is a member of the CFA Society of Seattle as well as the CFA Institute. He graduated from the University of Washington in 1999 with a B.A. in business administration and a concentration in finance. Close Bio

Fixed Income

Michael S. Cheung, CFA - Chief Investment Officer, Fixed Income and Equites

Michael Cheung

Michael is the fixed income senior portfolio manager for the company. He has over 30 years of investment experience. Michael’s extensive fixed income portfolio management experience includes the direct responsibility for investing $26 billion at General Electric Financial Assurance and $8 billion at the State of Alaska. Michael’s investment strengths include global economic and capital markets analysis as well as diverse investment exposure in all sectors of the bond market.

Michael received his BS degree from the University of Wisconsin-Green Bay and an MBA from Texas Christian University. He earned the right to use the Chartered Financial Analyst designation in 1988. He has served on the CFA candidate curriculum committee and has participated in the CFA candidate grading effort. Michael is a member of the CFA Society of Seattle. Close Bio

Kevin H. Loucks, CFA - Senior Portfolio Manager, Fixed Income

Kevin Loucks

Kevin came to WCM in 2002 as lead credit analyst, focusing specifically on corporate spread products for all industries. He is currently responsible for total return trade idea generation, buy/hold/sell relative value analysis, industry analysis, and trading. Kevin also manages the firmís Short Term Income Strategy. In addition, Kevin assists the real estate group with credit evaluation of current and potential tenants.

Kevin graduated from the University of Portland with a degree in finance in 1993 and went to work for the Oregon Mutual Insurance Company in McMinnville, Oregon, as a financial systems and marketing analyst. In 1996, he joined GE Capital (now Genworth) in Seattle, Washington, as a financial analyst and ultimately as an investment grade corporate credit analyst with lead responsibility for the oil and gas, chemical, and healthcare sectors. While at GE, Kevin achieved the black belt designation for the firmís Six Sigma Quality Program.

Kevin earned the right to use the Chartered Financial Analyst designation in 2001 and is a member of the CFA Society of Seattle.

In his spare time, Kevin enjoys spending time with his family, golfing, kayaking, and cycling. Close Bio

Bob Kern, CFA - Portfolio Manager, High Yield

Bob joined the firm in April 2018 from Davidson Investment Advisors, where he was a portfolio manager for client fixed income accounts. He has nearly 25 years of fixed income investment experience, managing both investment grade and below investment grade portfolios. Bob began his career at Safeco Asset Management where he was the manager of the Safeco High Yield Bond Fund, as well as high yield holdings for insurance company portfolios. He has worked at a number of firms in the Seattle area as both an investment analyst and portfolio manager including Sirach Capital Management and Russell Investments. Bob has a BA in business administration from the University of Washington, as well as a Bachelor of Accounting Science degree from the University of Puget Sound. Bob is a CFA, and has a retired CPA license. Close Bio

Joyce Chiang, MBA - Financial Analyst

Joyce joined WCM in 2005 working first in securities settlement and then as a fixed income portfolio administrator/accountant from 2005 to 2011. In late 2011, Joyce increased her responsibilities and became a financial analyst. Joyce received her B.A. in Business Administration with Finance & E-Commerce Information System majors from Seattle University in June 2004. In December 2010, Joyce received her M.S. in Finance from Seattle University. Close Bio

Real Estate & Mortgages

Cory A. Carlson, MBA - President, Chief Executive Officer, and Chief Investment Officer, Real Estate

Cory Carlson

Cory is Washington Capital's president, chief investment officer, real estate, and a member of the board of directors. Cory also chairs the firm's real estate investment committee.

Cory joined Washington Capital Management in 1999 as portfolio manager for real estate equity portfolios. Cory previously spent eighteen years at Weyerhaeuser Realty Investors (previously known as Weyerhaeuser Venture Company) where he was a regional investment manager, responsible for identifying, investing, and managing a broad range of real estate investments. Cory was also involved in client relations and marketing, particularly with overseas investors in WRI projects.

Cory received his BA degree in urban policy from Michigan State University in 1974. In 1981, he received an MBA degree from the University of Washington focusing on finance and real estate. In 1998-1999, Cory was the president of the University of Washington Alumni Association with a membership of over 50,000 alumni.

Cory is a member of the Pension Real Estate Association (PREA), the Urban Land Institute (ULI), and the Building Owners and Managers Association (BOMA). He also serves on a variety of regional and local non-profit boards of directors.

Cory is an active adult leader of the Chief Seattle Council of the Boy Scouts of America serving as both a scoutmaster and commissioner. His golf skills are so keen he has been asked to stay off the course by our insurance provider. Close Bio

Peter R. Bury, CFA - Vice President, Assistant Portfolio Manager, Real Estate Equity

Peter Bury

Peter joined WCM in 2002 as an operations accountant and moved to the Real Estate Equity group in 2005. In October 2016, Peter became the Assistant Portfolio Manager for the Real Estate Equity strategy.

Peter received his B.A. in business administration with minors in economics and accounting from the University of Puget Sound. He has also earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society of Seattle and the CFA Institute. Close Bio

Betty J. Chilese - Vice President, Assistant Portfolio Manager, Real Estate Debt

Betty Chilese

Betty has over 20 years of experience in commercial real estate as an underwriter for both banks and conduit lenders. She started her career as a manager in single family loan servicing. She has been very active in low income housing, multifamily and commercial real estate since the late 1980s. She served on the Savings Association Mortgage Co. Board of Directors for several years in the 1990s. Betty earned a BS degree in psychology from Arizona State University. Close Bio

Mark D. Clifford, MBA - Director, Real Estate

Mark Clifford

With over 25 years of commercial real estate finance experience, Mark joined WCM in 2003 and is responsible for originating new investments (acquisitions, joint ventures and mortgages) in Southern California and Southwest. Mark also serves on WCMís real estate investment committee. Prior to joining WCM, Mark was a senior regional manager with Union Labor Life Insurance Co. where he was responsible for originating new investments for its J-for-jobs account throughout the western United States. Markís real estate investment career began as a mortgage loan underwriter (and subsequently as a regional manager) with Pacific Life Insurance Company in Newport Beach, CA.

Markís educational background includes an MBA with concentrations in real estate and finance from the Haas School of Business at the University of California, Berkeley. Mark is also a Phi Beta Kappa graduate from the University of Washington with a BA in Business Administration. In between degrees, Mark spent three years in corporate banking in the San Francisco headquarters of Wells Fargo & Co.

Mark enjoys spending his free time with his family and is an active AYSO volunteer.Close Bio

Chris Coutts - Vice President, Real Estate

Chris Coutts

Chris Coutts joined Washington Capital Management in 2018 and is responsible for originating new investments (acquisitions, joint ventures, and mortgages). Prior to joining WCM, Chris was a Vice President on the CBRE Debt & Structured Finance team providing advisory services for debt and equity placement, recapitalizations, and investment sales across all product types.

Chris graduated from Babson College with a B.A. in Business Management with concentrations in real estate and finance.Close Bio

Robin Dean - Vice President, Asset Management

Robin joined WCM in 2016 with over two decades of real estate experience. During her career, Robin has led real estate teams across all disciplines, for high-growth organizations, both public and private.

Prior to joining WCM, she worked for an industrial developer, a commercial REIT, and a real estate investment manager. Robin holds a n International Council of Shopping Centers (ICSC) Certified Shopping Center Manager (CSM) designation. She has volunteered and served on many BOMA committees. Robin is also a founding member and serves on the Board of Directors for the Green Parking Council. Close Bio

Matthew W. DeBellis - Vice President, Real Estate

Matt DeBellis

Matt joined Washington Capital Management in June 2011. Matt's background is in the institutional ownership side of real estate which includes experience in corporate finance, development, sourcing, and underwriting investment opportunities and asset management.

Matt graduated cum laude from University of San Diego as a business administration major, with emphasis in real estate and finance, and an economics minor. He also received his Certificate in Real Estate: Finance, Investments, and Development through the university.

Matt is a native of Portland, Oregon. He is active with Big Brothers Big Sisters and enjoys golfing, reading, and other outdoor activities. Close Bio

Tup Fisher - Portfolio Manager, Real Estate Debt

Tup Fisher

Tup Fisher joined Washington Capital Management in 2008 with 26 years of commercial real estate experience. In 2012, he was named co-portfolio manager of the mortgage income strategy, and, in 2013, he took on full responsibility as the portfolio manager.

Prior to joining WCM, he spent eleven years with Column Financial/Credit Suisse/DLJ where he was the west regional manager, responsible for sourcing, underwriting, and closing mortgage loans in the western United States. He also was involved in investor relations and with B-piece buyers. Tup has spent time as the director of California mortgage production for a New York based bank and buying properties on the west coast for a New York based investment group.

A Northern California native, Tup is a past president of the Bay Area Mortgage Association (BAMA) and is a Board member, past chair, and Former Commercial President of the California Mortgage Bankers Association. He is also a former Board member of the Vista Center of the Blind and Visually Impaired. Tup graduated from Stanford University with degrees in economics and political science.

Tup loves to run and bicycle in his spare time. Close Bio

Jenny Gage - Manager, Asset Management Department

Jenny Gage

Jenny Gage joined the firm in 2006 as an Asset Manager. Jenny has over 23 years of commercial real estate experience, including transaction management of hundreds of new bank branch locations across the country for Washington Mutual Bank. She was a team leader for Washington Mutualís Commercial Real Estate Loan Portfolio, responsible in part for the retention and management of over 35,000 commercial loans valued at $17 billion. Her background includes retail site selection and lease negotiation, portfolio loan management, property management, and retail, office and industrial asset management. Close Bio

Thomas M. Gehrig, MBA - Vice President, Asset Management

Tom Gehrig

A Seattle native, Tom has over 25 years' experience in managing and leasing assets.

Tom graduated from Gonzaga University Magna Cum Laude with a business degree specializing in International Trade. After working as an Operations Manager and Sales Representative for an international shipping agency he returned to graduate school to gain knowledge and further his career in business.

Tom earned a masters degree in business (MBA) from the University of Washington and began a career in commercial real estate. He continues to learn and develop skills and has become a Certified Property Manager (CPM) and obtained a Washington State Brokers License.

In 20 years as a real estate professional Tom has developed into a strong generalist with broad experience in property and asset management, leasing, project management, development, marketing and acquisitions and dispositions. During his tenure in commercial real estate Tom has worked in management positions for Trammell Crow, Bay West, Benaroya and Harbor Properties in a variety of capacities.

Tom has developed a unique investment perspective having represented owner interests in all aspects of commercial real estate. He adds value in organizations by being able to analyze a property or portfolio broadly and provide a strategic plan to maximize value. In leasing he has 15 years' experience as an ownerís leasing representative.

Tom participates in several national real estate organizations. Close Bio

Cristelle D. Grote, MBA - Assistant Vice President, Assistant Controller, Real Estate

Cristelle Grote

Cristelle is an Assistant Controller in the WCM Real Estate Group. She joined WCM in 2002. Cristelle has nearly two decades of real estate investment accounting experience and is responsible for real estate performance measurement, fund valuation, and financial reporting.

Cristelle also administers the companyís asset management software, encompassing database administration, report writing, software implementation/upgrade and technical troubleshooting.

Prior to her financial management career, she was an architect and focused on architectural design and acquisitions financial analysis.

Cristelle received her Bachelorís degree in Architecture from HuaZhong University and earned her MBA in Finance from City University of Seattle. Close Bio

Jim Hummer, MBA - Director, Real Estate

Jim Hummer

Jim started working in real estate investments in 1981 with The Prudential Insurance Company of America. In his 13 years with Prudential, he held positions in acquisitions and sales as well as asset management and worked in a variety of markets on both the west and east coasts. Jim's acquisition and sales transactions included Prudential's various pension funds as well as its general account. As an asset manager, his entire portfolio consisted of pension-fund properties. Prior to joining Washington Capital Management, Jim was an investment and commercial mortgage broker in the Seattle area.

Jim has a B.S. from the Wharton School, University of Pennsylvania, and an MBA from the University of Washington. He is a member of the Seattle Mortgage Bankers Association. Close Bio

Ernest L. Jahncke, MBA - Real Estate Advisor

El Jahncke

El Jahncke currently serves as real estate advisor for Washington Capital Management. El previously served as the portfolio manager for Washington Capitalís mortgage income strategy from 1991 through 2012.

El has spent his entire professional career in the commercial real estate finance industry. He has more than thirty years of commercial real estate investing experience representing institutional investors such as life insurance companies and pension funds. This experience covers the discipline of debt and equity financing, property acquisitions, project analysis, portfolio strategy and administration, loan underwriting, asset management, brokerage and mortgage banking.

El has an MBA degree from Columbia University, a BA degree from Stanford University, and a certificate in real estate (with specialization in appraisal and finance) from UCLA. He is a member of the Pacific Real Estate Institute, the National Association of Industrial and Office Parks (NAIOP) and the Seattle Mortgage Bankers Association.

El and his wife Gayle have lived on Mercer Island for over twenty-five years, where he served on the City Council. El enjoys scuba diving, snowboarding, hiking, and mountain climbing. Close Bio

Sheri Johnson - Assistant Vice President, Office Manager

Sheri Johnson

Sheri has over 30 years' experience in real estate investment, finance, banking, legal and brokerage. She joined the firm in 2000 and her responsibilities include, but are not limited to, client development, placement of funds into mortgages, portfolio management, client reporting, and financial analysis.

She is a member of the Board of Directors of the Spokane Library Foundation, Business and Professional Women's Association, Downtown Spokane Partnership Business Improvement District, and is involved in the Greater Spokane, Inc. Close Bio

Bassam Jurdi, MBA - Vice President, Real Estate

Bassam Jurdi

Bassam has over 13 years of real estate investment and project management experience, during which he engaged with brokers, owners and developers, and built extensive market knowledge.

He earned a bachelor's degree in civil engineering from the Lebanese American University, an MBA from the University of Washington and a LEED accreditation from the US Green Building Council. Bassam is also a member of the National Association of Industrial & Office Properties (NAIOP), and Urban Land Institute (ULI). Close Bio

Rob M. Kovecs, CPA - VP, Director of Finance

Rob joined the firm in 2016 with over 25 years of experience in the real estate industry where he has served in various roles. His professional experience includes such firms as Bentall Kennedy, Russell Investments, and Trammell Crow Company.

He was certified with the NASD as a Financial and Operations Principal and has served as a contributing participant for NCREIF. Rob earned his bachelorís degree in finance from Washington State University. He is a CPA and member of the Washington Society of Certified Public Accountants.

Close Bio

Richard Leeret - Director, Real Estate

Rich oversees WCMís asset management team in Boston where he is responsible for third-party property management and develops strategic asset plans. Rich has over 20 years of experience in the areas of asset management, acquisitions, dispositions, finance and accounting.

He was previously Vice President of Asset Management at Cabot Properties, Inc. where he managed industrial properties. Rich holds a BA in economics from the State University of New York at Potsdam.

Close Bio

David K. Littlefield, CPA - Vice President, Special Projects

David's experience with real estate investment, finance, and accounting stretches more than 30 years. A majority of this experience was spent with Weyerhaeuser Realty Investors, ultimately in an executive role on the senior management team.

His expertise covers investment underwriting and due diligence, financial analysis, market research, and asset management. David graduated from Western Washington University with a degree in accounting. He is a CPA and member of the Washington Society of Certified Public Accountants.

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Jenny Macheras - CFO, Boston Branch

Jenny oversees the firmís accounting group in Boston including client accounting and financial reporting. Her extensive experience with property level accounting and reporting issues comes from over 25 years of real estate accounting experience.

Jenny previously worked at Property Capital Trust, a publicly traded REIT, and prior to that, was a Financial Manager for Spaulding & Slye. Jenny holds a BS in Accounting from the University of Massachusetts.

Close Bio

Patrick S. Malley, MBA - Senior VP & Portfolio Manager, Real Estate Equity

Patrick Malley

Pat has over 20 years of real estate experience having worked for multiple divisions of Weyerhaeuser Real Estate Company as a financial analyst, director of planning, commercial project manager, and vice president of finance. Pat combines development, asset management, and acquisitions experience with a strong background in finance and structuring joint ventures.

Pat graduated from the University of Notre Dame with a degree in business administration and received his MBA from the University of Washington. Close Bio

Mel Morgan Jr., MAI - Vice President, Asset Management

Mel Morgan

Mel has over 31 years of real estate experience, including asset management, commercial appraisal, appraisal management, asset disposition, project financing and financial analysis. He has worked with nearly every type and size of property across the country. Prior to joining Washington Capital Management, Mel spent eight years with Washington Mutual Bank as a First Vice President in charge of commercial real estate appraisals throughout the Unites States.

Mel received both his BA in Business and MBA in Finance from the University of Washington. He received his MAI designation from the Appraisal Institute in 1987, and is a Certified General Real Estate Appraiser in the State of Washington.

Mel has served on the Board of Directors of the Seattle Chapter of the Appraisal Institute, as well as being Secretary, Treasurer, Vice President, and President. He was named 2011 Appraiser of the Year by the Seattle Chapter. Mel has been a member of the Issaquah Development Commission for over 19 years, and has served as Cubmaster and Committee Chair for Boy Scout organizations. Close Bio

Jenny Ourada - Vice President, Transactions Manager

Jenny Ourada

Jenny Ourada is the leader of real estate closing activities for both equity and debt transactions at WCM. In this capacity, she directs the closing process and legal review of projects. In addition, Jenny provides asset management leadership for certain industrial development projects of the company.

Jenny joined the company in 2000, continuing a 25 year career in commercial real estate lending and asset management with primary focus on marketing, production, underwriting and closing. Prior to 2000, she was group manager at Washington Mutual Bank, leading a team of 10 professionals responsible for managing an average of 150 active real estate transactions, from application through closing. She has previously been an underwriter at Home Street Capital, an independent loan broker, a contract closing coordinator, an income property loan officer, and a video production specialist.

Jenny has been a member of the local chapter of Commercial Real Estate Women (CREW) and has been actively involved in CREW Careers, a national educational and mentoring program which educates young women about opportunities in commercial real estate. She has received Washington State's Certificate of Real Estate and held a Real Estate Salesperson license for over ten years. She has completed numerous industry related courses and seminars, including the Society of Real Estate Appraisers Income Property Valuation courses. Jenny was the Co-Founder and past Committee Chairman of the Income Property Closers Association for the Washington Mortgage Bankers Association.

Jenny enjoys playing golf and home gardening. Close Bio

Lisa Pargas - Assistant Vice President, Real Estate

Lisa Pargas

Lisa Pargas became a part of the Real Estate team at WCM in 1998. Her initial focus was administration and organization. She is now a Loan/Acquisition Closer for various funds in the real estate department. Her responsibilities include closing loans, participating on acquisition teams, coordinating the setup for construction projects and follow-through.

Having been an employee with WCM for nine years, she has been an integral part of many of the processes that have been developed and put into place in the real estate department. Being able to draw upon data from historical transactions adds an important perspective to the functioning of the team.

Lisa graduated from the University of Phoenix with a degree in business administration. She is active in the American Cancer Society- Relay for Life events as well as a member of CERT which is a FEMA mandated community emergency response program. Close Bio

Aaron Ryskalczyk - Real Estate Analyst, Asset Manager

Aaron Ryskalczyk

Aaron joined Washington Capital Management in August 2008. Prior to beginning his career with WCM, Aaron worked in various construction areas including bid estimating, earth drilling, single-family home construction and a short internship with Kilroy Realty. Aaron graduated from the University of Southern California with a degree in Business Administration with an emphasis in Real Estate Finance. He is an active participant in National Association of Industrial & Office Properties (NAIOP) events.

Aside from the world of real estate, Aaron enjoys golf, hiking, snowshoeing, traveling, cooking and football. Close Bio

Jan Sieberts - Director, Real Estate

Jan Sieberts

Jan joined Washington Capital Management in 2003 to open and manage its Anchorage office. Jan primarily looks for business opportunities in Alaska including real estate loans, real estate equities, and seeks new clients for the firm.

Jan was hired by First National Bank of Alaska in 1968 spending most of his time in consumer lending and was responsible for establishing the Master Charge credit card system in Alaska. In 1975, he was hired by National Bank of Alaska and managed its commercial real estate department until he retired from Wells Fargo Bank in 2003.

Jan graduated from the University of Oregon in 1967 with a degree in business administration. He currently sits on the board of the Anchorage Community Development Authority where he chairs the finance committee and the board of Alaska Pacific University.

Jan is an enthusiastic pilot and owns a Super Cub. He loves flying, golfing, fishing, hunting, and snow machining. He spends as much time as possible in rural Alaska. Close Bio

Michael Sierra - Assistant Vice President, Real Estate

Michael joined the Boston team in 2008 and is primarily responsible for the financial analysis of potential investment acquisitions. He previously served as a member of the accounting group, where his responsibilities included financial reporting and performance measurement. Mike holds a BS in Accounting from Pennsylvania State University.

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Russell J. Smith, CPA - Vice President, Controller

Russell Smith

Russell Smith is controller for the real estate group at Washington Capital Management. He is primarily responsible for financial and performance reporting and the administration of the underlying accounting and information systems. Russell has also served as an asset manager, responsible for some of the equity properties in the Seattle area, as well as a voting member of the Washington Capital Management’s real estate investment committee.

Russell began his career in real estate in 1983 when he joined a firm in Tyler, Texas, that invested in oil and gas properties and real estate. He worked with them as Controller and later Chief Financial Officer. Major accomplishments included the conversion of accounting systems to current technologies and the introduction of metrics that were used to evaluate real estate acquisition and to measure performance.

Russell earned his bachelors degree in business administration from Ambassador College in Pasadena, California, in 1971. In 1977, he earned a masters of science degree in finance from West Coast University.

Russell became a certified public accountant in 1977. He is a member of the AICPA and Washington Society of Certified Public Accountants. Russell is on NCREIF’s accounting committee. Close Bio

Joseph Versaggi - Senior Vice President, Real Estate

Joe is a founding member of Great Point Investors LLC, which was acquired by WCM in May 2017. He manages asset-related activities for separate account clients. Joe has over 25 years of experience in the areas of acquisitions, finance, dispositions, portfolio management and financial reporting.

He holds a BS degree from the Pennsylvania State University and a masterís degree from New York University. He has served as Treasurer and a member of the Board of Directors for NCREIF and is a member of PREA. Joe serves on the external advisory board of the Schreyer Honors College of the Pennsylvania State University.

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Sean Whitfield, MBA - Vice President, Real Estate

Sean Whitfield

Sean joined the firm in July 2013. His responsibilities include sourcing equity investments, financial modeling, due diligence review, and asset management primarily in the San Francisco Bay Area. Prior to joining WCM, Sean served in construction management with Lend Lease, commercial real estate banking with Union Bank, wealth management with Merrill Lynch, and development with Donahue Schriber and Mignatti Companies.

Sean graduated from the University of California, Berkeley with a degree in Electrical Engineering and Computer Science and received his MBA from the University of Washington. He is a Leadership in Energy and Environmental Design Accredited Professional (LEED AP), a Vice-Chair of the San Francisco Urban Land Institute (ULI) Capital Markets Committee, and a member of the University of Washington MBA Bay Area Employer Advisory Board.Close Bio

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