Blueprint was founded in 2009 by Seattle real estate veterans Mark Knoll and Dan Duffus to help local builders develop and finance small-scale residential housing. The simple idea was to create a better lending model—along with a technology platform and trusted brand—to serve the Seattle market. The first part of our thesis was clear: that community banks have significant challenges lending to small-scale builders due in large part to constraints under Dodd-Frank and stricter FDIC regulations—a trend that is likely to continue.
The second part of our thesis was that helping local builders with more than just financing would produce better results for them as well as our investors. This new ‘value-added’ approach, applied to the entire project lifecycle, is the differentiating feature of Blueprint. Building on our early success, we converted the company to a real estate investment trust (REIT) in 2013 to facilitate loan growth and develop rental property for our portfolio.
In 2018, Brighton Jones acquired a majority interest in Blueprint’s external manager, Blueprint Capital Services, LLC. As the largest Registered Investment Advisor in Washington State, Brighton Jones provides wealth management services to executives, entrepreneurs, and other individuals and families. After getting its start as a two-person shop 20 years ago, the firm now has more than 180 employees and has opened additional offices in Austin, Portland, San Francisco, Scottsdale, and Washington, D.C. Brighton Jones serves over 2,000 clients and advises on over $8 billion in assets.
At the start of 2022, we completed a reorganization transaction which separated our lending line of business and our real estate development line of business into two companies. Our lending business is now conducted by Blueprint Capital Income REIT while Blueprint Capital REIT will continue our real estate development business. We believe separating our lending and real estate development businesses will best align the returns from each individual business line with shareholder investment goals and maximize each company’s long term success.
Seattle is one of the most active real estate markets in the country. It provides key requirements for housing demand such as strong population, job and income growth. Within the Seattle market, we focus on urban “in-fill” development rather than suburban “tract” development. Urban housing is in high demand and more resilient to market cycles. And, recycling land in established neighborhoods reduces suburban sprawl—a much more environmentally-sustainable solution to growth.
Urban “In-Fill” Development
Urban “In-Fill” Development
Suburban “Tract” Development
In-fill development is dominated by small-scale, local builders. Blueprint’s innovative lending model serves this market by combining construction financing—which by itself is a commodity product—with value-added development services for an end-to-end builder solution. Specifically, we support our customers through all four phases of the project lifecycle: Blueprint sources projects through our agent referral network, provides competitive financing, completes the plans and permits and helps market the project during construction. This integrated, co-operative approach increases builder productivity and, in turn, reduces risk for our shareholders.
OUR REAL ESTATE HOLDINGS
In addition to lending, Blueprint develops residential income property for the REIT portfolio. Our relationship network produces many excellent opportunities for “build and hold” projects in the same urban in-fill neighborhoods that are close to transit, shopping and entertainment. Currently, we are focusing on studio apartment homes that are affordable for residents making 60-80% of the median area income. Key drivers for acquiring rental real estate are: Income diversity, capital appreciation and building a rental infrastructure in the event that we acquire and hold real estate through a loan foreclosure. Our completed, under construction, and pipeline projects represent more than $200 million of development assets and over 900 units.
Blueprint is owned by a large and diverse group of individual shareholders made up of our builder customers, management and individuals who value community investing.Shareholder Info
Board of Directors
Co-Founder, Brighton Jones CloseCharles Brighton
Co-Founder, Brighton Jones
Charles Brighton is the co-founder of Brighton Jones, Washington State’s largest registered investment advisor and one of the nation’s fastest-growing wealth management firms. At its core, Brighton Jones is driven by a desire to help its clients, colleagues, and community members live richer lives that extend far beyond financial wellbeing.
Charles and his business partner, Jon Jones, launched Brighton Jones in 1999 and pioneered a new approach to financial services—one marked by comprehensive planning and conflict-free advice. Headquartered in Seattle, the firm now has offices in Portland, San Francisco, Scottsdale, and Washington, D.C.
Charles is also the managing director of the firm’s family office practice.
Co-Founder and Managing Director, Blueprint Capital CloseDan Duffus
Co-Founder and Managing Director, Blueprint Capital206.933.7514
Dan drives Blueprint’s business development, including the feasibility, pre-design, and land use issues on new projects. Dan has been in the real estate industry for over 30 years and has developed thousands of residential units. In 2009 he co-founded Blueprint and has underwritten over 2,000 units for Blueprint builders and over 500 units for Blueprint’s portfolio. In 1997 he founded Soleil Development, a leading developer of over 1,000 residential units in Seattle. Prior to development, Dan spent 11 years in the title insurance business, including starting and growing Fidelity National Title Company’s Washington operation. Dan currently serves on Seattle Mayor Durkan’s Affordable Middle-Income Advisory Council and served on the Master Builders Association / Seattle Builder Council board of directors for 7 years.
President, Blueprint Capital CloseEric Graham
President, Blueprint Capital206.933.7514
Eric is Blueprint’s president. He has 25 years of experience working with real estate investment trusts. From 2009 to 2012, he was on the board of directors of EOS Preferred Corporation, a publicly-traded mortgage REIT. From 1997 to 2010, Eric represented REITs and other real estate companies in securities and corporate finance transactions as a partner with the law firm Goodwin Procter LLP. From 1991 to 1994, he practiced as a certified public accountant with KPMG LLP. Eric has a B.S. in accounting from Providence College and a J.D. from the Boston University School of Law.
Co-Founder and Chairman, Blueprint Capital CloseMark Knoll
Co-Founder and Chairman, Blueprint Capital206.933.7514
Mark is the Chairman of the Board of Blueprint Capital REIT, Inc. and Partner of Blueprint Capital Services, LLC. He is the chief architect of Blueprint’s business model, capital structure and marketing strategy. In 2018 Mark led the majority sale of Blueprint Capital Services to Brighton Jones, LLC. In 2013 Mark led Blueprint’s reorganization into an externally-managed, real estate investment trust. Beginning in 2011, he developed the software platform used by Blueprint, making it commercially available in 2019 as Datapage. In 2009 Mark co-founded Blueprint, served as CEO until 2019 and directed the funding of over $1.3 billion in loans for Blueprint builders. In 2003, he founded Knoll Development, a leading Seattle development and construction firm specializing in urban, in-fill development. In 1992, he co-founded Bismark Mortgage Company, a private, construction lending firm. Mark holds a B.A. degree in Mathematics from the University of Washington, class of 1988. He is co-owner and Chairman of the Board of Vita Coffee, LLC, one of Seattle’s largest independent coffee roasters. Mark is a guest speaker at Runstad Department of Real Estate, University of Washington.
Chief Investment Officer, Brighton Jones CloseBrian Tall
Chief Investment Officer, Brighton Jones
Brian Tall is the Chief Investment Officer of Brighton Jones, Washington State’s largest registered investment advisor and one of the nation’s fastest-growing wealth management firms. At its core, Brighton Jones is driven by a desire to help its clients, colleagues, and community members live richer lives that extend far beyond financial wellbeing. Headquartered in Seattle, the firm now has offices in Portland, San Francisco, Scottsdale, and Washington, D.C.
Brian has 15 years of experience in the investment management industry, including the areas of manager due diligence and selection, capital markets research, portfolio construction, and implementation of investment best practices.
Blueprint Capital Services, LLC
Blueprint Capital REIT and Blueprint Capital Income REIT are externally managed by Blueprint Capital Services, LLC. The founders, senior management and key support personnel average over two decades of experience in construction lending, real estate development and financial management.
Managing Director CloseDarin Granger
Darin is responsible for new business development and manages the acquisition, design and permitting team. Darin is a second generation homebuilder born and raised in the Kirkland area. He has over 20 years of in-fill development and construction experience and has built over 400 homes. The Granger family is well-known and well-respected in the Puget Sound homebuilding community. Darin was one of the founding builder members of Blueprint Capital.
- Caleb Walters Manager - Acquisitions and Underwriting
- Taylor Straton Acquisitions & Underwriting
Design & Permitting
Senior Manager - Architectural Design CloseDave Biddle
Senior Manager - Architectural Design206.933.7514
Dave is the team lead providing architectural design and permitting services for Blueprint member builders. Inspired by a family history of residential construction, Dave studied Architecture and Structural Engineering at Lehigh University before completing the University of Washington’s Master of Architecture program. In 2004 he co-founded the award-winning design/development firm Pb Elemental and now brings over 15 years of design, construction and permitting experience to Blueprint.
Manager - Land Use and Permitting CloseLucas DeHerrera
Manager - Land Use and Permitting206.933.7514
Lucas provides project feasibility studies and permitting services for Blueprint member builders. Prior to Blueprint, he spent 14 years at Seattle’s Department of Planning and Development including 7 years as a Senior Land Use Plan Reviewer. Lucas holds a B.A. in Community, Environment & Planning from the University of Washington.
- Jake Lybeck Permitting Associate
- Steve Svetlik Lead Architect
- Matt Bardon Architect / Team Leader
- Derry Betts Architect / Team Leader
Architect / Team Leader CloseErik Laag
Architect / Team Leader206.933.7514
Erik manages Blueprint’s Building Information Modeling [BIM] methodologies and facilitates the permitting of Blueprint projects. Erik holds a B.A. in Economics & Business Strategy from UCSC and a Masters of Architecture from the New School of Architecture & Design. Preceding Blueprint, he was a designer and BIM implementer at Safdie Rabines Architects and Solomon & Ferguson. He started his architecture career in 2010 – working with firms and developers based in his hometown of San Diego, CA.
WA # 20103518
- Jade Aramaki Senior Design Associate
- Marc Divina Design Associate
- George Ganescu Residential Designer/Intern Architect
- Nicky Hamel Residential Designer/Intern Architect
- Qisheng Wen Residential Designer/Intern Architect
Vice President - Loan Operations CloseJeanne Petershagen
Vice President - Loan Operations206.933.7514
Jeanne has managed Blueprint’s loan processing, funding and servicing since joining the Company in 2010. She has over 25 years of experience as a senior construction loan administrator. From 1984 to 2000 she held senior processing and servicing positions at US Bank, West One Bank, Security Pacific Bank and Bank of America. Jeanne also has 9 years in the residential construction industry as a general contractor. From 2000—2009 she was a principal in Alexander Reed Construction, Inc., a closely held residential homebuilder in Snohomish County, WA.
Construction Inspector CloseGary Petershagen
Gary performs monthly site inspections and progress reports on all Blueprint funded projects. He has over 26 years’ experience in the construction industry with Belmark Industries, Alexander Reed Construction and CD2IS. Gary is a licensed real estate broker.
- Nikki Medina Administrative Assistant
Portfolio Real Estate
Managing Director of Real Estate CloseGary Blakeslee
Managing Director of Real Estate206.933.7514
Gary has over 30 years of real estate development experience, predominantly with multifamily product. He began as a construction project manager for AvalonBay Communities, and evolved into development manager for Harbor Properties and OPUS, before founding Thrive Communities and co-founding RISE Properties Trust, a private REIT focused on value-add investments. Over his career, Gary has overseen construction of over 2,500 units, renovation of over 2,000 units, and property management of over 5,000 units. Gary has a B.S. in construction management from C.S.U. Fresno, has held a general contractors license, and a real estate brokerage license in two states.
Managing Director of Construction CloseAndrew Withnell
Managing Director of Construction206.933.7514
Andrew manages construction and budgeting of Blueprint portfolio projects. He has been in the construction industry since 2010, most recently with Holland Partner Group in Seattle as an associate project manager of two apartment buildings totaling 702 units. Andrew holds a B.A. in Economics from University of Maryland and Certificate in Construction Management from the University of Washington.
Asset Manager CloseMatt Campbell
Matt is responsible for marketing, leasing and management of Blueprint portfolio real estate. He has been involved in multifamily real estate acquisition and management since 1989. Matt’s experience includes working for Security Properties, Marcus and Millichap and HSC Real Estate Inc. While at HSC, he directed the acquisition of over 1,400 units with a market value in excess of $70 million and managed a portfolio of 30 market rate and affordable projects totaling over 3,000 units. He currently holds an ownership interest in over 1,900 residential units throughout the Western US. Matt has a degree in Finance and Marketing from the University of Denver and is a licensed real estate broker in Washington.
- Rob Hill Property Manager
- Kyle Stenson Project Manager
- Dimong Dy Construction Accounting Manager
- Stefan Fjeldstedt Superintendent
Finance and Accounting
CFO CloseKarl Watt
Karl has over 25 years of corporate finance experience, including 20 years working with real estate investment trusts. From 2016 to 2021, Karl worked for Weyerhaeuser, most recently as a VP of Financial Operations. Prior to Weyerhaeuser, Karl served as a Director of Accounting for amazon.com, Director of Business Development and Director of Audit for Plum Creek Timber, Corporate Controller for InterNAP Network Services, and as an Audit Manager for PricewaterhouseCoopers. Karl has a B.S. in accounting and finance from the University of Washington and is a certified public accountant.
Controller CloseTrina Mills
Trina leads the accounting for Blueprint entities as well as for many member builders, including all general ledger accounting, accounts payable, accounts receivable, payroll, reconciliation and reporting. She is a long-time employee of the founders of Blueprint, having served since 2003 as the accounting manager and controller of various Blueprint affiliates. Trina has over 30 years’ experience in construction industry accounting including 10 years providing training and support for Budgetrac Systems, an enterprise accounting software program
- Larry Pyne Finance Officer & Investor Relations
Accounting Associate ClosePamela Carpinelli
Pam provides bookkeeping and administrative services for Blueprint member builders including invoice processing, job cost coding, accounts payable and insurance certificate tracking. She has over 14 years’ experience in administrative roles for local construction companies.
- Conner Mills Accounting Assistant
Office and Event Coordinator CloseDebra Clang
Office and Event Coordinator206.933.7514
Deb manages Blueprint’s office administration. She coordinates company events and assists with special marketing projects. Prior to joining Blueprint she spent 10 years in the culinary arts field and 10 years in a specialty dentistry office.