Middle Market Digest: North West

Below is GlobeSt.com’s bi-weekly update on the middle markets throughout the North West region. Here’s a look at the latest news, announcements and deals that you may have missed from areas including: Alaska, Washington, Oregon, Idaho, and Northern California.

NEWS & NOTABLES 

SEATTLE—San Francisco real estate leader Rajiv S. Patel will be this year’s honoree at the 32nd Annual Gala of the San Francisco Bay Area Council of the Boy Scouts. The upcoming 2016 gala is scheduled for Saturday, December 3 at the Westin St. Francis on Union Square in San Francisco. Patel is a managing director with Spear Street Capital, a private equity fund that acquires and operates office properties in technology related markets nationwide. With a transaction volume exceeding $6 billion, Patel has bought, sold or financed real estate investments in most major markets across the US. His primary focus is overseeing the company’s investment activities and spearheading many of the firm’s strategic initiatives.

SACRAMENTO—Acting upon a petition from the Consumer Federation of California (CFC), California Insurance Commissioner Dave Jones has ordered State Farm to refund homeowners insurance policyholders $104 million and reduce rates going forward. 1.7 million policyholders will receive refund checks. Consumer Watchdog also intervened at the California Department of Insurance, seeking a rate cut. “This is a big win for California policyholders whom State Farm overcharged,” states Richard Holober, Consumer Federation of California Executive Director. “It demonstrates the effectiveness of our voter-approved insurance law to keep rates fair and hold insurers accountable.”