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Executive Watch

Jonathan…

By noHead | Updated on May 27, 2003

Jonathan A. Schein President & CEO Real Estate Media GlobeSt.com

5/21/03: A few weeks ago, this column mentioned AIMCO, the multifamily REIT that had replaced American Airlines in the S&P 500. At the time, I mentioned that the move was a good sign for the real estate industry as an investment class. Well, S&P has done it again. The provider of independent research, indices and ratings recently announced that, based on strong demand, REITs have been added to more than 4,000 US companies ranked according to its Earnings and Dividend (so-called “Quality”) Ranking System. The Ranking appraises growth and stability based on per-share earnings and dividend records over the most recent 10 years. In fact, 93 REITs meeting these criteria have been added. If you think about how poorly the economy has performed over the past two years and how some experts glumly predict the future of the economy, then this a terrific indicator of a stable and mature industry. REITs are not just real estate companies that are owned by the public, they are institutions that are maintained literally from the bottom up from the maintenance staff to the CEO. It’s great to know that the secret is finally out.

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Leonard

MARCUS & MILLICHAP (ATLANTA, SEATTLE) The firm elects John M. Leonard, regional manager of the firm’s Atlanta office since 2002, and Gregory S. Wendelken, regional manager of the Seattle office since 1998, to vice president positions. Wendelken joined the company in 1984, while Leonard came aboard in 1995.
Aldridge

GE REAL ESTATE (CHICAGO) The firm names Jeffrey P. Aldridge Jr. and 15-year industry veteran Sean C. O’Malley directors in the central region of the company’s north america debt business. Both will operate out of GE Real Estate’s Chicago office and will focus on real estate investors and borrowers in IL, MI, MN and WI.
McNamara

GRUBB & ELLIS CO. (CITY OF INDUSTRY, CA) Both Amy McNamara, who was with Grubb & Ellis from 1994 to 2002, and Jim Wynne, who worked for the company from 1998 to 2002, have rejoined as vice presidents with the firm’s Office Group. They were previously at Insignia/ESG.
DeJohn

WG PROJECT MGMT. (HOBOKEN, NJ) 20-year industry veteran Mike DeJohn joins the company as a principal. He was previously a project director at Quartararo & Assoc. DeJohn is also the 2003-2004 president of the NYC chapter of corenet global, the corporate real estate network.
Lamb

BAKER STOREY McDONALD MGMT. (NASHVILLE, TN) 14-year industry veteran Kimberly Lamb joins the company as president and VP of property management, while nine-year veteran Sheldon Griffin has recently joined Baker Storey McDonald Properties in the capacity of senior associate.
SELECTLEADERS

Asset Mgr. of Residential Investments

NEW YORK CITY

For more information, click here.

 Responsibilities include: develop and implement annual business plans and monitor assets in accordance with the plan, including oversight of joint venture partners. Additionally, prepare annual property valuations with quarterly updates, monthly asset management reports. Position will establish procedures for effectively managing the portfolio and document in a manual and assist the underwriters in their evaluation of market rents, expenses, cap rates, etc.

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