Co-founder of $ 1.6 billion real estate firm dies in plane crash

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The co-founder of a $ 1.6 billion real estate investment firm was among six people killed in the airliner. crashed near Lake Tahoe last week.

None of the other victims of the plane crash have been identified, but Texas-based Rainier Company said in a press release Monday that co-founder John Kenneth Dunn, 62, was among the fatalities on the flight from Coeur d’Alene. , Idaho.

The National Transportation Safety Board is investigating the cause of the crash of the Bombardier CL 600 when the pilot tried to land at Truckee Tahoe Airport, a spokesman for the Federal Aviation Administration said. There were no survivors.

In 2003, Dunn, along with his partner Tim Nichols, formed the real estate investment firm Rainier Capital Management.

The company’s website says it currently manages $ 1.6 billion in assets.

“The Rainier family is deeply saddened by the loss of their co-founder, partner and friend,” said President and CEO Rainier Danny Lovell. “We truly sympathize with Ken’s family during this incredibly difficult time. It will be sorely missed. “

Rainier Capital Management co-founder John Kenneth Dunn was among 6 people killed in a plane crash near Lake Tahoe.
Obituary of John Kenneth Dunn

An obituary at the Dallas Morning News said Dunn “traveled with friends to one of his favorite places on earth, Truckee, California.”

He is survived by a wife, son, daughter, stepdaughter, stepson and three grandchildren.

“After a busy career in banking and real estate, Ken co-founded Rainier Capital in 2003,” reads the obituary. “With a keen eye for real estate investment, Ken and his partners have made Rainier Capital a leading commercial real estate investment firm.”

According to Desert sunOther victims of the flight included Kevin Quarnlow, Ryan Thomas, and Christine Thomas, all of whom were associated with Hideaway Golf Club, a private golf club and residential area in La Quinta, California, where homes sell for between $ 2 million and $ 6 million. dollars.

Lake Tahoe plane crash
The Bombardier CL 600 crashed when the pilot tried to land at Truckee Tahoe Airport.
Matt Mehan / Fabulous
Plane crash
John Kenneth Dunn’s obituary says he “traveled with friends.”
Matt Mehan / Fabulous

Officials at Truckee Tahoe Airport said the Nevada County Sheriff-Coroner will confirm the identities of the victims “as soon as a genuine identification is established and contact with immediate family members is established.”

“We think about those who lost loved ones and those who witnessed the tragedy from the ground,” said Kevin Smith, general manager of the Truckee Tahoe Airport area. “As airport employees, residents and board members, incidents like these have deeply hurt us, and we will do everything in our power to support the NTSB investigation.”

In the run-up to the crash, communication between the pilot and the air traffic controller seemed normal until the pilot said, “We’re going to have to go around the runway.”

The controller then instructs the pilot to report that “the airport is in sight.” The pilot, who did not report any emergency, said, “I look forward to meeting you guys,” according to the LiveATC recording. posted by VASAviation

Then he announces: “605 Tango Romeo makes a right turn, we see runway 11.”

Plane crash.
Other victims of the flight reportedly included Kevin Quarnlow, Ryan Thomas, and Christine Thomas.
Matt Mehan / Fabulous

The dispatcher replies: “Runway 11, landing is free, the wind is calm.”

A few seconds later, the plane crashed. The plane flew between the two houses and caught fire, and firefighters quickly extinguished it.

“It was a shock, very heartbreaking,” said Caroline Bechdolt, co-manager of the golf course. said the San Francisco Chronicle last week.

Luke Brown, who stopped at his mother’s house where an airplane fire extinguisher had landed, was stunned.

“It nearly decapitated someone. I arrived here in 10-15 minutes and it was just flames, flames, madness, everything was exploding everywhere, ”he told the newspaper.

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