KUSHNER PROPERTIES
(NEW JERSEY)The company has appointed long-time employee Donny Furer as director
of commercial management. Furer is responsible for overseeing property management for all of the firm's office, industrial and retail projects. He initially joined Kushner Companies in 1991 as property manager and over the past 12 years has taken on additional management projects.

PRUDENTIAL JOHN AAROE
(LOS ANGELES) The company has promoted three members to regional management. John Closson now oversees the firm's two west LA offices. Closson joined the firm to open the pacific Palisades office. Since then he has established the Prudential California division. Tom Dunlap oversees six offices in LA. Prior to joining the firm Dunlap owned an independent mortgage brokerage company which handled an expensive annual loan production. Kathy King is now responsible for the firm's four Valley offices. King owned and operated her own firm for more than twenty-two years and has been actively involved with SRAR serving as chairperson on numerous committees.

RICHARDS BARRY JOYCE & PARTNERS
(BOSTON, MA) Shannon Herald has joined the firm's downtown team as an associate. Herold will focus on the leasing of office space for tenants and landlords in the downtown Boston market. She was previously with CB Richard Ellis focusing on investment sales and office leasing services in the metropolitan Hartford market.

MANSUR CAPITAL
(CHICAGO)The company has been appointed Dennis Heskel as managing director for the firm. Heskel will lead the marketing and operation of Ontario Partners, the firm's highly successful hedge fund of funds. He brings more than 15 years of experience in investing and trading to the firm.

GLOBAL REALTY OUTSOURCING, INC.
(STAMFORD, CT) Susan Thrasher joins the company as SVP, Residential Servies. Thrasher's responsibilities will include business development for residential outsourcing services and the management of all aspects of the company's residential operations, including the master servicing operation for a $25 billion client portfolio.

RREEF

Research Manager

NEW YORK

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Ideal candidate must have three to five years of experience in preparing and managing a range of applied real estate research projects. Duties include economic and property market analyses for US metropolitan areas; research reports on selected real estate market trends and conditions; forecasts of market conditions and performance and real estate market/feasibility analyses for various property types.

CONFIDENTIAL

General Manager

LAS VEGAS

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Responsible for serving as the asset manager for a specific property or properties, improving value through effective operations management, leasing, marketing, financial analysis and budgeting. Key role for general manager will be in tenant relations and retention; oversight and coordination of each property's physical upkeep, maintenance and security. Direct involvment in establishing and meeting financial objectives.

TRIMONT

REIT Investment Mgr.

ATLANTA

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Primary responsibility will be to monitor corporate risk positions in financing investments to REIT and companies involved in the real estate industry. Abstract and understand all significant facility terms and covenants and be a resource for Lehman. Establish a process and develop models to monitor exposure by tracking and analyzing various factors such as operating performance trends, market events, competitor statistics, and compliance thresholds. Review and verify all quarterly compliance certificates and documentation for each facility.

Offering Memorandum Writer

FLORIDA

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Ideal candidate will write complete institutional quality offering memoranda for the sale of office, retail, and multi-family properties nationwide. Possessing a minimum of three years of relevant experience with excellent writing and verbal communication skills, prospect must also possess the ability to work under tight deadlines and be able to coordinate with our research and graphic departments.

Commercial Mortgage Backed Securities Senior Underwriter

NEW YORK CITY

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Candidate must have at least a B.S. or B.A. degree with at least 10 years work experience in the commercial real estate industry. Responsibilities include conducting financial and valuation analysis on commercial real estate properties. prepare cash flow models and projections on commercial assets. Organize the underwriting efforts, including site inspections, structural engineering, environmental and appraisal reports. Facilitate information flow between borrowers, Lehman Brothers and outside investors and rating agencies. Prepare and present asset and loan summary packages for internal credit committees and outside parties. Coordinate with outside auditors for accounting due diligence, including audits and agreed upon procedures. Assist investors in evaluating loan collateral, including fielding inquiries and supporting sales desk.