MINNEAPOLIS, Minn. (April 16, 2019) – Kraus-Anderson Realty Company & Kraus-Anderson Development Company today announced it has named Peter Diessner as president. He succeeds Dan Engelsma, who is retiring after 50 years with the company and serving as KA Realty’s president and COO since 2000. Diessner is the grandson of KA founder Lloyd Engelsma and is part of a third generation of Engelsma family members working in the Kraus-Anderson family of companies.
KA Realty & KA Development’s Executive Vice President Michael Hille will continue to oversee the day-to-day operations of the two companies.
Diessner, an attorney, joined Kraus-Anderson Financial Services Group, Inc. (KAFS) in May 2018 as director and was named vice president in February 2019. KAFS works closely with KA Development to provide financial resources for KA interests and partners. He oversaw the financial analysis, underwriting, due diligence, and sourcing and funding of debt and equity for KA’s existing and prospective portfolio of real estate.
Prior to joining KAFS, Diessner was a Twin Cities real estate attorney at Fredrikson & Byron and at Speeter & Johnson. He focused his practice on complex transactions and litigation involving real estate.
“Pete’s legal and finance backgrounds provide a thorough understanding and well-rounded perspective of real estate deals,” said Bruce Engelsma, CEO and chairman of Kraus-Anderson Companies. “He will provide exemplary leadership for KA’s realty and development teams in this red-hot marketplace and exciting industry.”
Diessner received his J.D. from the William Mitchell College of Law and his B.A. in Financial Economics from Gustavus Adolphus College. He is a member of the Hennepin County Bar Association and holds a certification from the National Institute of Trial Advocacy (NITA). Diessner also is a MSBA Certified Real Property Law Specialist and was selected as a “Rising Star” by Minnesota Super Lawyers in 2017 and 2018, an honor earned by only 2.5 percent of eligible attorneys.
Bruce Engelsma added that Diessner’s background and expertise will complement Hille’s continuing leadership of KA’s realty and development teams. “Mike has developed a top-notch roster of experienced professionals that have successfully driven commercial real estate management and development, making it one of the top firms in this burgeoning market. We are all excited for this collaboration.”
As the son of Minnesota Business Hall of Famer Lloyd Engelsma, Dan Engelsma has lived a life steeped in the construction and real estate industries. In 1969 Dan officially joined Kraus-Anderson, working in its real estate operations at the beginning of a decade of explosive growth in KA’s real estate development activity. He has overseen the growth of KA Realty to in excess of five million square feet of commercial properties and championed the consolidation and integration among KA’s business units in order to leverage the collective strength of the enterprise on notable developments including the KA Block.
Along with his brother, Kraus-Anderson Companies Chairman Bruce Engelsma; brother-in-law Dennis Diessner, Executive Vice President of Kraus-Anderson Insurance and KA’s leadership team, Dan has championed the integration of the company’s business operations into what is today a highly collaborative enterprise including real estate leasing and management, turnkey development expertise, financial services and risk management expertise. Under his watch, KA Realty has grown from three employees to a staff of over 60 professionals, managing commercial property, including retail, office, warehouse, multi-family and senior housing.
Dan became vice president in 1978, executive vice president in 1984 and has served as president and COO since 2000. In addition, he continues to serve as vice chairman of Kraus-Anderson Companies, Inc. and in multiple director and board roles throughout the Kraus-Anderson family of companies. Dan holds a real estate broker’s license in Minnesota and Iowa. He is a member of the International Council of Shopping Centers (ICSC), Minnesota Shopping Center Association (MSCA), Minnesota Commercial Association of Realtors (MNCAR), Building Owners and Managers Association (BOMA), Institute of Real Estate Management (IREM) and National Association of Industrial and Office Properties (NAIOP). He also served on the boards of Fraser School, HealthEast and Bethesda, and on the St. Thomas Real Estate advisory board.
“Dan has mentored and fostered the next generation leadership at KA to provide the strategic planning to grow KA’s capabilities and secure our position as a destination employer,” said Bruce Engelsma, CEO and chairman of Kraus-Anderson Companies. “While we will miss his daily presence, his stewardship of KA and our people leave us with a powerful legacy to build upon.”
About KA Realty and KA Development
Kraus-Anderson Development Company and Kraus-Anderson Realty Company are part of the Minneapolis-based Kraus-Anderson family of operations, including integrated construction management, real estate management and development, insurance and financial services. KA Development is a comprehensive real estate services provider with expertise in site selection, master planning, land and building acquisition, financing, facilitation of municipal processes and entitlements, portfolio and property management and leasing. KA Realty leases and manages in excess of 5 million square feet of commercial property, including office, industrial and retail shopping centers; maintaining an occupancy level of more than 90 percent.